An Inventory Model encompassing the features of Industrial Ecology in Startup Industrial Sectors Dr. Nivetha Martin 1 , 1 Department of Mathematics, Arul Anandar College, Karumathur Dr. P. Pandiammal 2 2 Department of Mathematics, GTN Arts College, Dindigul Abstract : Industrial sectors are highly integrated with the productive dimension of the nation’s economy. The outcome of products demands systematic implementation of industrial activities; if it fails at any juncture then it results in mishaps. Presently many environmental calamities are happening due to disorganized executions in the production sectors which have made the society to meet the most challenging disaster, the pollution which occurs in many forms and disturbs the entire environmental structure. As the effects of pollution are highly dreadful certain preventive measures have to be put into practice. To minimize the impacts of pollution the production activities have to be integrated with the elements of industrial ecology for which additional costs are incurred which have to be incorporated to the total inventory costs for building healthier environment. It is indeed a prime task of the startup industries to increase their revenue so as to formulate a strong foundation for their business. To facilitate their achievement an inventory model stating the facets of profit making with environmental promotion has to be framed for which this paper is a step towards it. 1. INTRODUCTION The ultimate aim of inventory control is to reduce investment in inventories and to ensure the production process does not suffer at the same time. To set a balance between these aspects the organizations have to get answers for the questions such as how much to order and when should the order be placed. To determine the solutions to these challenging queries, Economic Order Quantity (EOQ) inventory model was first devised by Harris in the year 1913 which assisted corporations in minimizing total inventory costs by employing mathematical techniques to derive an optimal order size that minimizes the long – run average inventory costs. Five years later, Taft proposed the Economic Production Quantity (EPQ) model in the year 1918 which is utilized by the manufacturing sectors, when the products are produced internally instead of being acquired from outside suppliers. This model is also known as Economic Manufacturing Quantity (EMQ) model. Inspite of the similarity that lie in the motive of both EOQ and EPQ models proposed by Harris and Taft respectively there arise differences in the aspects linked to assumptions, objective function, optimal order quantity and total inventory cost. The models proposed by Harris and Taft were further modified to resolve the crises that crop up in the production – inventory system due to shortages, backorders, defective products in a lot, rework, deteriorating items, offering of discount and even in integrated approach in supply chain management. A brief note of earlier works are presented as follows: Montgomery (1973) presented an EOQ model with which focus on shortages and partial backordering. Park (1982), Pentico and Drake (2009) proposed similar models with different methods. Li developed EPQ based models with partial backordering. Rosenblatt and Lee developed inventory models considering defective items and its rework. Salameh and jabber formulated inventory models with the inclusion of screening and remanufacturing of imperfect quality producs. Kaplan, Berman ,Yadavalli developed inventory models for deteriorating items. These models were further extended by Goyal, Giri and Zipkin. Wen framed EOQ models with the inclusion of Discount, also Goyal, Banerjee, Aggarwal concentrated on supply chain management and framed inventory models to manage the problems that arise in that scenario. In addition to these inventory models Ren framed Model based on cross selling, Berman (2000) on inflation and trade credit. Numerous extensions were also made by several researchers which contributed a lot for further development of the inventory models addressing the above mentioned crises by modifying the assumptions, nature of demand pattern; They formulated models to investigate the effect of clubbing two or more crises together like Shortage and permissible delay by Kun, imperfect Quality, shortage and backordering by Hung, imperfect items and discount by Hong, deteriorating, inflation and time discount by Arindam, partial backordering and cross selling by Ren- qian, deteriorating and backorder by Gede, replenishment and supply chain by Mohammed and so on. Also in these models the authors adopted various mathematical techniques to discover a robustic method of determining the optimal order quantity. But after profound and cautious study of the inventory models developed by the researchers and academicians, one will surely arrive at a conclusion that these inventory models do not provide a meaningful basis for analyzing many real and increasingly important practical inventory problems and situations. This was also strongly emphasized by Maurice Bonney and Mohammad Jaber (2011) in their research on inventory models and they have made a remark that these inventory models are conventional and therefore new paradigm of responsible inventory models reflecting the actual needs of the manufacturing enterprises must be developed because it is becoming increasingly difficult for them to compete on a global scale with the applications of the conventional International Journal of Engineering Research & Technology (IJERT) ISSN: 2278-0181 Published by, www.ijert.org ICONNECT - 2017 Conference Proceedings Volume 5, Issue 13 Special Issue - 2017