Inventory model involving reworking of faulty products with three carbon policies under neutrosophic environment

The increasing in industry as well as usage of vehicles for transporting products generate many problems to the environment such as greenhouse gas emission and global warming. As nowadays environmental pollution has become a crucial problem, production companies have now shifted their attention to lower the carbon emission level along with their financial goal. In reality, the values of some parameters such as production cost, holding cost, demand rate, deterioration rate may not fixed due to several factors. Reworking of defective products reduces production cost. This study aims at developing a multi-objective supply chain inventory management by considering deteriorating products together with imperfect quality production under neutrosophic environment. Several carbon reduction policies such as carbon tax, carbon cap-and-trade and carbon cap-and-offset and green technology are implemented here to mitigate the influence of carbon emission by curbing amount of carbon emission. To reduce the deterioration rate, preservation technology is utilized. In real-world situations, all parameters related to an inventory management are not handled as a crisp value, a fuzzy number or an intuitionistic fuzzy number. To confrontation this issue, single valued trapezoidal neutrosophic number is chosen for investigating this type of an inventory problem. A ranking approach is designed to transform all uncertain parameters into deterministic values. A comparison between two types of reworking processes, and a comparison among crisp, intuitionistic fuzzy and neutrosophic models are drawn. A sensitivity analysis regarding important parameters is also taken into consideration to accentual managerial intuitions. •Two SCIM models with synchronous and asynchronous rework processes are developed.•Preservation technology is utilized to reduce deterioration rate.•Carbon tax, offset, cap-and-trade policies are involved to curb carbon emission.•Neutrosophic set is utilized in this study to handle real-life ambiguity.•Neutrosophic compromise programming is used to solve the proposed models.