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Inventory optimization in a one product recoverable manufacturing system

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  • Sebnem Ahiska, S.
  • King, Russell E.
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    Abstract

    Environmental regulations or the necessity for a 'green image' due to growing environmental concerns, as well as the potential economical benefits of product recovery, have pushed manufacturers to integrate product recovery management with their manufacturing process. Consequently, production planning and inventory control of recoverable manufacturing systems has gained significant interest among researchers who aim to contribute to industrial practice. This paper considers inventory optimization of a single product recoverable manufacturing system where customer demands are satisfied through either regular production (manufacturing) of new items or remanufacturing of returned items. We present robust, implementable characterizations of the optimal manufacturing/remanufacturing inventory policies found using Markov decision processes. We extend the results in the literature by considering setup costs and different lead time cases for manufacturing and remanufacturing.

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    Bibliographic Info

    Article provided by Elsevier in its journal International Journal of Production Economics.

    Volume (Year): 124 (2010)
    Issue (Month): 1 (March)
    Pages: 11-19

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    Handle: RePEc:eee:proeco:v:124:y:2010:i:1:p:11-19

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    Web page: http://www.elsevier.com/locate/ijpe

    Related research

    Keywords: Remanufacturing Recoverable manufacturing system Stochastic inventory control Markov decision process Setup cost Policy characterization;

    References

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    1. Erwin van der Laan & Marc Salomon & Rommert Dekker & Luk Van Wassenhove, 1999. "Inventory Control in Hybrid Systems with Remanufacturing," Management Science, INFORMS, vol. 45(5), pages 733-747, May.
    2. van der Laan, Erwin & Salomon, Marc, 1997. "Production planning and inventory control with remanufacturing and disposal," European Journal of Operational Research, Elsevier, vol. 102(2), pages 264-278, October.
    3. van der Laan, E.A. & Teunter, R.H., 2004. "Simple heuristics for push and pull remanufacturing policies," ERIM Report Series Research in Management ERS-2004-090-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
    4. Mahadevan, B. & Pyke, David F. & Fleischmann, Moritz, 2003. "Periodic review, push inventory policies for remanufacturing," European Journal of Operational Research, Elsevier, vol. 151(3), pages 536-551, December.
    5. L. Beril Toktay & Lawrence M. Wein & Stefanos A. Zenios, 2000. "Inventory Management of Remanufacturable Products," Management Science, INFORMS, vol. 46(11), pages 1412-1426, November.
    6. Fleischmann, Moritz & Bloemhof-Ruwaard, Jacqueline M. & Dekker, Rommert & van der Laan, Erwin & van Nunen, Jo A. E. E. & Van Wassenhove, Luk N., 1997. "Quantitative models for reverse logistics: A review," European Journal of Operational Research, Elsevier, vol. 103(1), pages 1-17, November.
    7. Kiesmuller, Gudrun P. & Scherer, Carsten W., 2003. "Computational issues in a stochastic finite horizon one product recovery inventory model," European Journal of Operational Research, Elsevier, vol. 146(3), pages 553-579, May.
    8. Teunter, Ruud H. & Vlachos, Dimitrios, 2002. "On the necessity of a disposal option for returned items that can be remanufactured," International Journal of Production Economics, Elsevier, vol. 75(3), pages 257-266, February.
    9. van der Laan, Erwin & Dekker, Rommert & Salomon, Marc, 1996. "Product remanufacturing and disposal: A numerical comparison of alternative control strategies," International Journal of Production Economics, Elsevier, vol. 45(1-3), pages 489-498, August.
    10. Kiesmuller, G. P., 2003. "A new approach for controlling a hybrid stochastic manufacturing/remanufacturing system with inventories and different leadtimes," European Journal of Operational Research, Elsevier, vol. 147(1), pages 62-71, May.
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    Citations

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    Cited by:
    1. Bertazzi, Luca, 2011. "Determining the optimal dimension of a work-in-process storage area," International Journal of Production Economics, Elsevier, vol. 131(2), pages 483-489, June.
    2. Ahiska, S. Sebnem & Appaji, Samyuktha R. & King, Russell E. & Warsing, Donald P., 2013. "A Markov decision process-based policy characterization approach for a stochastic inventory control problem with unreliable sourcing," International Journal of Production Economics, Elsevier, vol. 144(2), pages 485-496.

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