The Optimization On Production And Emission Reduction Investment Decisions For Remanufacturing Firms Based On A Financing Environment

With the rapid development of global economy,ecological destruction and environmental pollution are becoming more and more serious.As a low-carbon production mode,remanufacturing is the best way to realize resource conservation,environmental protection and waste product renovation,not only bring significant environmental benefits and improve consumer environmental awareness,but also promote higher profits for firms.Therefore,the reasonable formulation of remanufacturing production decisions to coordinate each link in the remanufacturing process can effectively ensure the balance of supply and demand,improve the stability of the system operation.At the same time,in a low-carbon context,various environmental policies and regulations have been formulated to achieve emission reduction targets,firms also actively use the technology of emission reduction investment to further reduce carbon emissions,effectively promoting the development of low-carbon economy.However,if the small and medium-sized firms with capital constraints obtain financing services through various financing modes in the capital market(internal financing and external financing),they can also effectively implement production and emission reduction investment activities,easing the capital problem while further reducing carbon emissions and improving the firm’ profits,which has important academic value and practical guiding significance.This dissertation takes recycling and remanufacturing system as the research object,maximizing the profit and social welfare of remanufacturing firms as the goal,and bases on the uncertainty characteristics of the remanufacturing system,as well as the impact of environmental policies and regulations and external influencing factors on the remanufacturing planning,from the perspective of carbon emission factors,financial factors and system joint optimization,aiming to study the production and emission reduction investment decisions of remanufacturing firms considering financing by making use of the closed-loop supply chain management theory,operations research,game theory and optimization theory.The main research contents are as follows:(1)According to the research content and frame structure,we review the research status at home and abroad from three aspects: recycling and production decisions of remanufacturing firms,the optimization of production and emission reduction investment strategy of firms under low-carbon background,and the integrated optimization of firms’ production operation and emission reduction decisions with considering financing,analyzing the characteristics and various uncertain factors of the remanufacturing system,and summarize the general operation process of the remanufacturing system as well as the main factors that affect the remanufacturing planning and emission reduction strategy formulation of the system,which aims to provide theoretical support for the follow-up research.(2)Secondly,in the low-carbon context,we study the production planning of remanufacturing firms considering environmental protection policies and external factors.First,considering the diversity of quality levels of recycled products,we construct an optimal recycling and production planning model for duopoly remanufacturers in a competitive market.Then,based on the basic model,the influence of green network effect on decision variables and optimization objectives is analyzed,and the optimal recycling and pricing of competitive remanufacturing firms are explored with a two-stage inverse induction method,aiming at maximizing firms’ profits and social welfare.Finally,we analyze the influence of government tax,recycling subsidy and green network effect coefficient on decision variables and objective functions through numerical examples,so as to provide some management insights for business managers.(3)Thirdly,considering the uncertainty of market demand,we investigate the recycling,production and pricing of remanufacturers by financing at different stages of the production cycle.Firstly,according to the characteristics of different stages of product life cycle,a nonlinear programming model is constructed at different stages of remanufacturer financing by considering the difference in recovery conditions and financing constraints,and the optimization conditions are given.Thus,the decisionmaking and optimization objectives of remanufacturing firms in operation and finance under different financing stages are compared and analyzed.At last,through numerical examples and sensitivity analysis,we further analyze the influence of key parameters on the optimal strategy,realizing the integration and coordination of operational and financial factors in the production process.(4)Fourth,from the perspective of system joint optimization,we study the optimization of production and emission reduction investment decisions in which the underfunded remanufacturer obtain the recycled products from the third-party recycler through deferred payment and pay the interest within the credit period.First,a nonlinear optimization model based on the profit maximization of the remanufacturer is established and the analytical expressions of the optimal recovery amount,carbon emission reduction rate and government subsidy for emission reduction are obtained by using the backward method.Thus,under the cap-and-trade mechanism,we compare and analyze the carbon emissions,profits and social welfare of remanufacturers with or without r&d(research and development)emission reduction investment and capital constraints.Finally,numerical simulation further analyze the influence of various parameters on the carbon emission and profits of the remanufacturer.(5)At last,on the basis of the above research,we discuss the joint optimization of production and emission reduction investment decision of remanufacturing firms with inventory financing under the dual constraint of carbon emission and capital.First of all,the remanufacturing firm produces both new products and remanufactured products at the same time,and by making use of the investment channel of equipment purification,the optimization model of production and emission reduction decision of the remanufacturing firm is constructed in the case of single cycle,and the optimal values of the decision variables are obtained by backward induction.Then,the value of investment in emission reduction and the impact of financing on production operations are highlighted by comparison with the non-investment in emission reduction.Finally,numerical examples are conducted to analyze and compare the optimal carbon emissions and profits with and without purification emission reduction and different purification amount,providing a certain guidance for corporate development and environmental protection.Innovations of this thesis are mainly manifested in the following aspects:(1)By considering environmental protection policies and regulations and external influencing factors simultaneously,on the one hand,we study the optimal recycling and production planning of duopoly remanufacturers in a competitive market with the diversity in quality levels of recycled products.On the other hand,different from the existing studies,this dissertation discusses the impacts of green network effect not only on the price and quality strategy of remanufacturing products,but also on the consumer utility and social welfare,which proves that environmental protection policies and external influencing factors can effectively reduce environmental pollution and promote the maximization of firms’ profits,indicating the obvious innovations in research issues.(2)The capital constraint issues are very common in most small and medium-sized firms,but the theoretical research still needs to be expanded.This study breaks through the existing research perspective and framework,focusing on the recycling and production decision-making of capital-constrained remanufacturing firms.In addition,the financing services are discussed based on the characteristics and requirements of financing in different stages of the production cycle by remanufacturing firms,which is more in line with the actual situation and effectively realizes the integration and coordination of operation and financing during the production.(3)At present,there are few literatures studying the production and emission reduction decisions of remanufacturing firms under the dual constraint of carbon emission and capital.On the basis of existing literature and based on the characteristics of remanufacturing,we explore the optimal recovery,production and emission reduction investment decisions of remanufacturing firms with capital constraints under the carbon policies from the perspective of system joint optimization.On the one hand,the carbon emissions from production are further reduced by using emission reduction investment.On the other hand,the problem of insufficient capital in the remanufacturing system is effectively alleviated,and the profits of upstream and downstream firms are better coordinated,so as to meet the dual needs of economic returns and environmental benefits.This study effectively enriches the production optimization theory of remanufacturing system,which has certain innovation in research perspective and method,and it may provide decision basis for the implementation of remanufacturing firms’ production plan and relevant policy formulation by governments.