A Magnitude Ranking Approach for a Green Inventory Model with Carbon Tax and Carbon Cap and Trade Policies Under Uncertainty

Abstract: Abating carbon emission which is emitted from manufacturing sectors and organizations is the important act to be performed at present to safeguard our environment. So to dwindle such emissions, in the last couple of decades both government and sectors are focusing on it by implementing new techniques and policies. Carbon tax and Carbon cap and trade are the two policies initiated at present by many firms and discussed by researchers in production inventory system. Most importantly facing unpredictability among parameters in a green EOQ model is the most efficient need in today’s scenario of changing life condition and technical advancement among customers. So this model concentrates in a way to remove ambiguity in few parameters through fuzzy idea by considering them as trapezoidal fuzzy numbers. The optimal solution is found by using magnitude ranking method. Numerical example is given to illustrate the model