Seminar by IMSE PhD candidate - 'Low-carbon Investment Joint Decision for Production Planning System' (Date: 22 January 2016)

Mr. Yuchen ZHAO, our PhD candidate, will give a seminar for his probationary report. All are welcome to this event.

Title: 'Low-carbon Investment Joint Decision for Production Planning System'

Abstract:

Decisions on low-carbon investment have become very important to the manufacturing industry. Despite current research on green supply, few works have paid attention to decisions on emission reduction in low-carbon sensitive markets. We attempt to explore and address this critical issue in the production planning system. The background for low-carbon investment and joint decision problem are elaborated and a detailed research framework is proposed. On the current progress, a model based on economic order quantity (EOQ) under three carbon policies is proposed to make the optimal tradeoff between profit and emission reduction for manufacturer. The concavity properties of the model are analysed, and the solution process elaborated.  The model is validated by numerical experiments to study the practical situations with and without carbon policies. The results reveal that investment in product production that brings about emission reduction can be profitable in low-carbon sensitive markets, and that different decision strategies can be taken under different carbon policies. Detailed future research path is listed and feasibility is discussed.