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Authors: S. Y. Wang and S. H. Choi

Affiliation: Department of Industrial and Manufacturing Systems Engineering, The University of Hong Kong and Hong Kong

Keyword(s): Pricing Strategy, Purchasing Strategy, Emission Trading Scheme (ETS), Lagrange Multipliers, Karush-Kuhn-Tucker (KKT) Conditions.

Related Ontology Subjects/Areas/Topics: Applications ; Artificial Intelligence ; Decision Analysis ; Knowledge Discovery and Information Retrieval ; Knowledge-Based Systems ; Management Sciences ; Methodologies and Technologies ; Operational Research ; Optimization ; Pattern Recognition ; Scheduling ; Software Engineering ; Symbolic Systems

Abstract: Global concerns for environmental sustainability obligate manufacturers under the Emission Trading Scheme (ETS) to reduce carbon emission substantially. While green awareness inspires manufacturer investment in green upgrade, it is crucial for emission-limited firms to improve production scheduling in order to compete in the stringent low-carbon market. This paper solves the emission ordering problem by considering the green investment strategy. It adopts newsvendor models with novelty in the use of the Lagrange Multipliers and Karush-Kuhn-Tucker (KKT) conditions to achieve the optimality subject to emission constraints. Although this method has been used in economics, it is first explored in this paper for low-carbon production to achieve optimality together with the emission targets. The results call for the manufacturer to make better decisions for achieving both the optimality and the emission reduction.

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Paper citation in several formats:
Wang, S. and Choi, S. (2019). The Emission Ordering Strategy with Green Awareness under the Emission Trading System (ETS). In Proceedings of the 8th International Conference on Operations Research and Enterprise Systems - ICORES; ISBN 978-989-758-352-0; ISSN 2184-4372, SciTePress, pages 63-71. DOI: 10.5220/0007311900630071

@conference{icores19,
author={S. Y. Wang. and S. H. Choi.},
title={The Emission Ordering Strategy with Green Awareness under the Emission Trading System (ETS)},
booktitle={Proceedings of the 8th International Conference on Operations Research and Enterprise Systems - ICORES},
year={2019},
pages={63-71},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0007311900630071},
isbn={978-989-758-352-0},
issn={2184-4372},
}

TY - CONF

JO - Proceedings of the 8th International Conference on Operations Research and Enterprise Systems - ICORES
TI - The Emission Ordering Strategy with Green Awareness under the Emission Trading System (ETS)
SN - 978-989-758-352-0
IS - 2184-4372
AU - Wang, S.
AU - Choi, S.
PY - 2019
SP - 63
EP - 71
DO - 10.5220/0007311900630071
PB - SciTePress

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