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Remanufacturing decision and sustainability under product life cycle uncertainty

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  • Wenbo Shi
  • Tianke Feng
  • K. Jo Min

Abstract

For a single type of product, we study a firm's remanufacturing decisions for the product under demand uncertainty from a real options approach. Specifically, we assume that the product life cycle consists of a growth regime with the expected product demand and volatility increasing with respect to time and a decay regime with the expected product demand and volatility decreasing with respect to time while the timing of regime change itself is uncertain as well. Under this framework, this study aims to derive and analyze the demand threshold above which the firm establishes a remanufacturing process in its production system. Moreover, the number of products being remanufactured throughout the life cycle is numerically studied to assess the degree of sustainability due to remanufacturing.

Suggested Citation

  • Wenbo Shi & Tianke Feng & K. Jo Min, 2016. "Remanufacturing decision and sustainability under product life cycle uncertainty," The Engineering Economist, Taylor & Francis Journals, vol. 61(3), pages 223-243, July.
    • Handle: RePEc:taf:uteexx:v:61:y:2016:i:3:p:223-243
    DOI: 10.1080/0013791X.2014.986352
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    Cited by:

    1. Ramesh Subramoniam & Erik Sundin & Suresh Subramoniam & Donald Huisingh, 2021. "Riding the Digital Product Life Cycle Waves towards a Circular Economy," Sustainability, MDPI, vol. 13(16), pages 1-23, August.

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