Sustainable retail model with preservation technology investment to moderate deterioration with environmental deliberations

• Published in: Journal of cleaner production Vol. 390; p. 136128
• Main Authors: Gautam, Prerna, Maheshwari, Sumit, Kausar, Amrina, Jaggi, Chandra K.
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.03.2023
• Subjects: Carbon-emissions; Deterioration; Green demand; Optimization; Preservation technology; Pricing; Preservation technology; Deterioration; Green demand; Carbon-emissions; Optimization; Pricing
• ISSN: 0959-6526; 1879-1786
• DOI: 10.1016/j.jclepro.2023.136128

The sustainable economy is becoming the watchword for any organization to develop economic and social resilience. To achieve sustainable development, governments around the world are working on innovative approaches and latest technologies. It is indeed significant to use resources sustainably, which opens up a dire need to analyse the importance of sustainable supply chains and their significance in global upliftment. When it comes to making business decisions, inventory and pricing are the two quintessential factors. Further, preservation is the need of the hour for elongating the shelf life of products to help serve people round the globe. Pertinently, a sustainable retail-based model is developed that represents the demand as a function of pricing and greening degree. The items are considered to be deteriorating in nature and to deal with them a unique preservation investment function is suggested that modulates the rate of deterioration efficiently. The impact of modifying model parameters is observed to impart the robustness of the developed model. The findings of the model suggest that it is viable to invest a fraction of profit in preservation strategies to avoid any loss that could occur due to unsold stock. Substantially, the model shows that better results are obtained with preservation technology investment (PTI) in comparison to the traditional studies.