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Inventory optimization in a one product recoverable manufacturing system

  • Sebnem Ahiska, S.
  • King, Russell E.
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    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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    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
    Contact details of provider: Web page: http://www.elsevier.com/locate/ijpe

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    1. van der Laan, Erwin A. & Teunter, Ruud H., 2006. "Simple heuristics for push and pull remanufacturing policies," European Journal of Operational Research, Elsevier, vol. 175(2), pages 1084-1102, December.
    2. Mahadevan, B. & Pyke, D.F. & Fleischmann, M., 2002. "Periodic Review, Push Inventory Policies for Remanufacturing," ERIM Report Series Research in Management ERS-2002-35-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 University Rotterdam.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. 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.
    9. 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.
    10. 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.
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