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An Inventory Model with Dependent Product Demands and Returns

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Author Info
Laan, E.A. van der
Kiesmueller, G.P. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)

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Abstract

In this paper an inventory model for a single reusable product is investigated, in which the random returns depend explicitly on the demand stream. Further, the model distinguishes itself from most other research in this field by considering leadtimes and a finite planning horizon. We show that neglecting the dependency between demands and returns of products may lead to bad performance with respect to total average relevant costs. Additionally, our results enable us to determine the minimal recovery probability or the minimal length of the planning horizon for which reuse is profitable.

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Publisher Info
Paper provided by 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 University Rotterdam. in its series Research Paper with number ERS-2001-16-LIS Revision_Date: 2009-07-29.

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Date of creation: 27 Mar 2001
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Handle: RePEc:dgr:eureri:200176

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Related research
Keywords: reusable products; remanufacturing; order-up-to policy; Markov Chain;

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  1. 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. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
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  1. B. Toktay & E.A. Van der Laan & M.P. De Brito, 2003. "Managing product returns," Econometric Institute Report 316, Erasmus University Rotterdam, Econometric Institute. [Downloadable!]
  2. M.P. de Brito & R. Dekker, 2001. "Modelling product returns in inventory control - exploring the validity of general assumptions," Econometric Institute Report 232, Erasmus University Rotterdam, Econometric Institute. [Downloadable!]
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  3. 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 Revision, 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. [Downloadable!]
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This page was last updated on 2009-12-23.

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