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Article: Stochastic lot sizing manufacturing under the ETS system for maximisation of shareholder wealth

TitleStochastic lot sizing manufacturing under the ETS system for maximisation of shareholder wealth
Authors
Issue Date2015
PublisherElsevier. The Journal's web site is located at http://www.elsevier.com/locate/ejor
Citation
European Journal of Operational Research, 2015, v. 246 n. 1, p. 66-75 How to Cite?
AbstractThe issues of carbon emission and global warming have increasingly aroused worldwide attention in recent years. Despite huge progresses in carbon abatement, few research studies have reported on the impacts of carbon emission reduction mechanisms on manufacturing optimisation, which often leads to decisions of environmentally unsustainable operations and misestimation of performance. This paper attempts to explore carbon management under the carbon emission trading mechanism for optimisation of lot sizing production planning in stochastic make-to-order manufacturing with the objective to maximise shareholder wealth. We are concerned not only about the economic benefits of investors, but also about the environmental impacts associated with production planning. Numerical experiments illustrate the significant influences of carbon emission trading, pricing, and caps on the dynamic decisions of the lot sizing policy. The result highlights the critical roles of carbon management in production planning for achieving both environmental and economic benefits. It also provides managerial insights into operations management to help mitigate environmental deterioration arising from carbon emission, as well as improve shareholder wealth.
Persistent Identifierhttp://hdl.handle.net/10722/211766

 

DC FieldValueLanguage
dc.contributor.authorWANG, X-
dc.contributor.authorChoi, SH-
dc.date.accessioned2015-07-21T02:10:18Z-
dc.date.available2015-07-21T02:10:18Z-
dc.date.issued2015-
dc.identifier.citationEuropean Journal of Operational Research, 2015, v. 246 n. 1, p. 66-75-
dc.identifier.urihttp://hdl.handle.net/10722/211766-
dc.description.abstractThe issues of carbon emission and global warming have increasingly aroused worldwide attention in recent years. Despite huge progresses in carbon abatement, few research studies have reported on the impacts of carbon emission reduction mechanisms on manufacturing optimisation, which often leads to decisions of environmentally unsustainable operations and misestimation of performance. This paper attempts to explore carbon management under the carbon emission trading mechanism for optimisation of lot sizing production planning in stochastic make-to-order manufacturing with the objective to maximise shareholder wealth. We are concerned not only about the economic benefits of investors, but also about the environmental impacts associated with production planning. Numerical experiments illustrate the significant influences of carbon emission trading, pricing, and caps on the dynamic decisions of the lot sizing policy. The result highlights the critical roles of carbon management in production planning for achieving both environmental and economic benefits. It also provides managerial insights into operations management to help mitigate environmental deterioration arising from carbon emission, as well as improve shareholder wealth.-
dc.languageeng-
dc.publisherElsevier. The Journal's web site is located at http://www.elsevier.com/locate/ejor-
dc.relation.ispartofEuropean Journal of Operational Research-
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication in [Journal title]. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in PUBLICATION, [VOL#, ISSUE#, (DATE)] DOI#-
dc.titleStochastic lot sizing manufacturing under the ETS system for maximisation of shareholder wealth-
dc.typeArticle-
dc.identifier.emailChoi, SH: shchoi@hkucc.hku.hk-
dc.identifier.authorityChoi, SH=rp00109-
dc.identifier.doi10.1016/j.ejor.2015.04.021-
dc.identifier.hkuros245147-

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