Optimal greening efforts, pricing and inventory strategies for non-instantaneous deteriorating perishable products under price, freshness and green efforts dependent demand with price discount

Nowadays, consumers who are concerned about their health prefer and expect nutritional and fresh sustainable products. Due to their freshness, healthfulness, and environmental friendliness, people are now using sustainable fresh perishable products. The price of products plays an important role in consumers purchasing behaviours. This article considers an inventory model for non-instantaneously deteriorating perishable fresh products with selling price, age of product (freshness), and greening efforts dependent demand. The quality of products reduces due to physical deterioration and degradation of the product's freshness, and hence, retailers offer a discount in the selling price to the buyer during a deteriorating period to boost demand. The objectives of the study are to determine the optimal selling price, an optimal period for replenishment cycle time, and an optimal value of greening efforts cost simultaneously while taking into account retailers total profit maximisation. A mathematical model is developed and validated using numerical results to reflect actual situations. To examine the reliability of the model, sensitivity analysis with regard to parameters is undertaken. Some keys managerial insights are presented, and the article concludes with a discussion of the future scope of related research.