Sustainable Economic Production Quantity under Uncertainty
AbstractThis paper studies an extension to the economic production quantity (EPQ) model based on the sustainable development goals. Regarding the concept of triple bottom lines (TBL), many studies in the area of supply chain networks and manufacturing systems contributed to the economic, environmental and social impacts, simultaneously. This paper for the first time proposes a sustainable EPQ model under uncertainty. The applicability of the proposed model is approved by a dairy industry in Iran. To show the dynamically of the model, multiple periods are considered for the model and therefore, it provides a plan during different periods to achieve TBL in an EPQ system under demand uncertainty. Another novelty of this paper is to propose a novel hybrid meta-heuristic to address the proposed optimization model. Next, to assess the proposed solution method and the developed model, the empirical result and sensitivity analysis are carried out. Finally, managerial implications and findings from the results provide some practical solutions to achieve the TBL sustainability for EPQ models in a dairy manufacturing case study.