Modelling product returns in inventory control - exploring the validity or general assumptions
AbstractThe literature on stochastic models for inventory control with product returns commonly makes the following simplifying assumptions: demand and returns are each a homogeneous (compound) Poisson process, and the processes are independent of each other. In this paper we explore the validity of these assumptions by analysing real data on return flows. In addition, we discuss practical implications of our findings and we provide insights on information management for inventory systems with return flows.
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Bibliographic InfoPaper provided by Erasmus University Rotterdam, Econometric Institute in its series Econometric Institute Report with number EI 2001-27.
Date of creation: 31 Oct 2001
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inventory control; product returns; data analysis; reverse flows;
Other versions of this item:
- de Brito, Marisa P. & Dekker, Rommert, 2003. "Modelling product returns in inventory control--exploring the validity of general assumptions," International Journal of Production Economics, Elsevier, vol. 81(1), pages 225-241, January.
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- Srivastava, Samir K., 2008. "Network design for reverse logistics," Omega, Elsevier, vol. 36(4), pages 535-548, August.
- Brito, M.P. de & Flapper, S.D.P. & Dekker, R., 2002. "Reverse logistics," Econometric Institute Report EI 2002-21, Erasmus University Rotterdam, Econometric Institute.
- Kayakutlu, Gulgun & Buyukozkan, Gulcin, 2011. "Assessing performance factors for a 3PL in a value chain," International Journal of Production Economics, Elsevier, vol. 131(2), pages 441-452, June.
- Toktay, B. & Laan, E.A. van der & Brito, M.P. de, 2003. "Managing Product Returns: The Role of Forecasting," Research Paper ERS-2003-023-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.
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