Green Profit Design
"Green Profit" refers to economic profits generated by an environmentally sustainable business.
We develop foundations for modeling the link between product design and its green profit potentials and evaluating which design is better than others and why. Our framework can analyze how architectural differences affect product lifecycle and what design properties are desirable from the green-profit perspective. Using the framework, designers can answer the question, "which product design is better and why." Ultimately, they can find optimal product design with greater green profit.
Application areas: consumer electronics (cell phone, personal computers, etc.), automotive vehicles, military combat systems, heavy-duty equipment, and building design.
Dr. Minjung Kwak is an Associate Professor in the Department of Industrial and Information Systems Engineering at Soongsil University (Seoul, Korea) and the director of the Sustainable Green Design Laboratory. She received the BS and MS degrees from Seoul National Univ. and the PhD degree from the University of Illinois at Urbana-Champaign. Her research topics include Design for Green Profit; Design for Circular Economy; Remanufacturing; Design Analytics; Online Review Mining; Life Cycle Assessment; Design for Sharing Economy; Neuro Design and Marketing.
e-mail: mkwak at ssu.ac.kr
Dr. Harrison Kim is an award-winning educator, researcher, and designer in complex systems design and sustainability -- engineering design, manufacturing, analytics, and systems optimization. He is a Professor in the Department of Industrial and Enterprise Systems Engineering at the University of Illinois at Urbana-Champaign (UIUC) and the director of the Enterprise Systems Optimization Laboratory. He is also affiliated with the Computational Science and Engineering Program and the Beckman Institute at the University of Illinois.
e-mail: hmkim at illinois.edu
Kwak, M. and Kim, H. M. "Green Profit Maximization through an Integrated Pricing and Production Planning for a Line of New and Remanufactured Products," Journal of Cleaner Production, Vol. 142, No. 4, 2017. DOI: https://doi.org/10.1016/j.jclepro.2016.10.121
Kwak, M. and Kim, H. M. "Market Positioning of Remanufactured Products with Optimal Planning for Part Upgrades," Transactions of ASME: Journal of Mechanical Design, Vol. 135, No. 1, 2013. DOI: https://doi.org/10.1115/1.4023000
Kwak, M. and Kim, H. M. "Assessing Product Family Design from an End-of-Life Perspective," Engineering Optimization, Vol. 43, No. 3, 2011. DOI: https://doi.org/10.1080/0305215X.2010.482990