Study and Analysis of Production Management using Renewable Energy for Sustainable Development

Abstract

We can consider the energy efficiency through the study of modern supply chain management. The principal objective of this paper is to implement the use of green energy instead of regular energy in production process. We study how the use of green energy can be an alternative source of energy in large production sector. In our study there are two manufacturers and the problem is formulated using game theory. Here, two manufactures decide whether they produce green energy and use it for production or not. If they decide to produce, they need to design the production structure like production rate, production quantity, production cost and so forth. Our model shows that production of green energy is more cost effective and environmental friendly though the green production, which does not show the continuous increasing behavior of profitability. It may happen sometimes that the manufacturer produces less green energy and use it for overall production. As a result, to build the structure of the Model, careful steps are needed. The results of our research show that use of green energy is more ecofriendly and its market effect is positive.

Keywords

• Green Production
• Game Theory
• Market Equilibrium

How to cite

K M Safiqul Islam (2020). Study and Analysis of Production Management using Renewable Energy for Sustainable Development. Sonargaon University Journal, 3(I & II), 31–41.

@article{islam20203,
  title   = {Study and Analysis of Production Management using Renewable Energy for Sustainable Development},
  author  = {K M Safiqul Islam},
  journal = {Sonargaon University Journal},
  volume  = {3},
  number  = {I & II},
  pages   = {31--41},
  year    = {2020},
  issn    = {2518-3125},
  url     = {https://su.edu.bd/journal/volume-3/study-and-analysis-of-production-management-using-renewable-energy-for}
}