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An inventory model with dependent product demands and returns

Author

Listed:
  • Kiesmuller, Gudrun P.
  • van der Laan, Erwin A.

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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Suggested Citation

  • Kiesmuller, Gudrun P. & van der Laan, Erwin A., 2001. "An inventory model with dependent product demands and returns," International Journal of Production Economics, Elsevier, vol. 72(1), pages 73-87, June.
  • Handle: RePEc:eee:proeco:v:72:y:2001:i:1:p:73-87
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    References listed on IDEAS

    as
    1. 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.
    2. 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.
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    Cited by:

    1. Bernard, Sophie, 2011. "Remanufacturing," Journal of Environmental Economics and Management, Elsevier, vol. 62(3), pages 337-351.
    2. Eric T. Anderson & Karsten Hansen & Duncan Simester, 2009. "The Option Value of Returns: Theory and Empirical Evidence," Marketing Science, INFORMS, vol. 28(3), pages 405-423, 05-06.
    3. Zhou, Li & Naim, Mohamed M. & Ou Tang & Towill, Denis R., 2006. "Dynamic performance of a hybrid inventory system with a Kanban policy in remanufacturing process," Omega, Elsevier, vol. 34(6), pages 585-598, December.
    4. Tang, Ou & Grubbstrom, Robert W., 2005. "Considering stochastic lead times in a manufacturing/remanufacturing system with deterministic demands and returns," International Journal of Production Economics, Elsevier, vol. 93(1), pages 285-300, January.
    5. Gong, Qiguo & Lai, K.K. & Wang, Shouyang, 2008. "Supply chain networks: Closed Jackson network models and properties," International Journal of Production Economics, Elsevier, vol. 113(2), pages 567-574, June.
    6. Zolfagharinia, Hossein & Hafezi, Maryam & Farahani, Reza Zanjirani & Fahimnia, Behnam, 2014. "A hybrid two-stock inventory control model for a reverse supply chain," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 67(C), pages 141-161.
    7. Hsueh, Che-Fu, 2011. "An inventory control model with consideration of remanufacturing and product life cycle," International Journal of Production Economics, Elsevier, vol. 133(2), pages 645-652, October.
    8. Zhou, Li & Xie, Jiaping & Gu, Xiaoyu & Lin, Yong & Ieromonachou, Petros & Zhang, Xiaole, 2016. "Forecasting return of used products for remanufacturing using Graphical Evaluation and Review Technique (GERT)," International Journal of Production Economics, Elsevier, vol. 181(PB), pages 315-324.
    9. repec:spr:annopr:v:242:y:2016:i:2:d:10.1007_s10479-013-1526-x is not listed on IDEAS
    10. 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.
    11. repec:pal:jorsoc:v:54:y:2003:i:6:d:10.1057_palgrave.jors.2601521 is not listed on IDEAS
    12. Gregory A. DeCroix & Jing-Sheng Song & Paul H. Zipkin, 2009. "Managing an Assemble-to-Order System with Returns," Manufacturing & Service Operations Management, INFORMS, vol. 11(1), pages 144-159, October.
    13. Nenes, George & Panagiotidou, Sofia & Dekker, Rommert, 2010. "Inventory control policies for inspection and remanufacturing of returns: A case study," International Journal of Production Economics, Elsevier, vol. 125(2), pages 300-312, June.
    14. Takahashi, Katsuhiko & Morikawa, Katsumi & Myreshka & Takeda, Daisuke & Mizuno, Akihiko, 2007. "Inventory control for a MARKOVIAN remanufacturing system with stochastic decomposition process," International Journal of Production Economics, Elsevier, vol. 108(1-2), pages 416-425, July.
    15. Gregory A. DeCroix & Paul H. Zipkin, 2005. "Inventory Management for an Assembly System with Product or Component Returns," Management Science, INFORMS, vol. 51(8), pages 1250-1265, August.
    16. Toktay, B. & van der Laan, E.A. & de Brito, M.P., 2003. "Managing Product Returns: The Role of Forecasting," ERIM Report Series Research in Management 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 University Rotterdam.
    17. repec:pal:jorsoc:v:56:y:2005:i:3:d:10.1057_palgrave.jors.2601799 is not listed on IDEAS

    More about this item

    JEL classification:

    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics

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