• OPTIMIZATION OF AN INVENTORY MODEL CONSIDERING THE COSTS OF TRANSPORTATION AND ITS ASSOCIATED EMISSION IN STEEL INDUSTRIES

Abstract

Industries play an imperative role in the economic intensification; in particular the steel industries occupy a significant position in contributing to the industrial growth of our country. The production pattern and its related activities cause environmental impacts which have to be investigated in a profound manner so as to devise suitable strategies for enhancing the economic profit and minimizing the environmental effects. Locomotion of raw materials from the source to the production place; finished steel products from the manufactured zone to the markets requires transportation. The steel industries have to be cautious in selecting the suitable mode of transportation not only to minimize the costs of transportation but also its environmental effects. This paper strongly focuses on the needs of environmental concern in steel industries. This research work aims in formulating a new inventory model encompassing the costs of transportation along with the associated costs of mitigating the environmental effects.