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Optimal Acquisition and Inventory Control for a Remanufacturing System

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  • Zhigang Jiang
  • Shuo Zhu
  • Hua Zhang
  • Yanhong Wang

Abstract

Optimal acquisition and inventory control can often make the difference between successful and unsuccessful remanufacturing. However, there is a greater degree of uncertainty and complexity in a remanufacturing system, which leads to a critical need for planning and control models designed to deal with this added uncertainty and complexity. In this paper, a method for optimal acquisition and inventory control of a remanufacturing system is presented. The method considers three inventories, one for returned item and the other for serviceable and recoverable items. Taking the holding cost for returns, recoverable and remanufactured products, remanufacturing cost, disposal cost, and the loss caused by backlog into account, the optimal inventory control model is established to minimize the total costs. Finally, a numerical example is provided to illustrate the proposed methods.

Suggested Citation

  • Zhigang Jiang & Shuo Zhu & Hua Zhang & Yanhong Wang, 2013. "Optimal Acquisition and Inventory Control for a Remanufacturing System," Discrete Dynamics in Nature and Society, Hindawi, vol. 2013, pages 1-7, October.
    • Handle: RePEc:hin:jnddns:120256
    DOI: 10.1155/2013/120256
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    References listed on IDEAS

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    1. Ferrer, Geraldo & Swaminathan, Jayashankar M., 2010. "Managing new and differentiated remanufactured products," European Journal of Operational Research, Elsevier, vol. 203(2), pages 370-379, June.
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    3. Pokharel, Shaligram & Liang, Yijiong, 2012. "A model to evaluate acquisition price and quantity of used products for remanufacturing," International Journal of Production Economics, Elsevier, vol. 138(1), pages 170-176.
    4. Kaya, Onur, 2010. "Incentive and production decisions for remanufacturing operations," European Journal of Operational Research, Elsevier, vol. 201(2), pages 442-453, March.
    5. Östlin, Johan & Sundin, Erik & Björkman, Mats, 2008. "Importance of closed-loop supply chain relationships for product remanufacturing," International Journal of Production Economics, Elsevier, vol. 115(2), pages 336-348, October.
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