Nowadays, consumers show more interest towards eco-friendly products. To meet this demand, however, manufacturing processes often generate a lot of hazardous waste, which creates challenges for companies. To tackle these issues, this work develops an optimization model to help companies with managing production, reduce waste, and maintain green product standards. To navigate solution of the profit maximization problem became apparent in the model, a new meta-heuristics called Artificial Hummingbird Algorithm is employed and compared with a wide range of other optimization techniques. The results demonstrate that this algorithm outperforms others on the majority of case studies. Sensitivity analyses are also performed to help managers make informed decisions.
Keywords: Algorithm; Artificial hummingbird algorithm; Green production; Imperfect production; Interval variational problem; Optimization; Salvage; Waste-disposal investment.
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