A Flexible Inventory Model for Municipal Solid Waste Recycling
Most of the United States have laws mandating the recycling of municipal solid waste (MSW). In order to comply, municipalities recycle quotas of materials, without regard to fluctuating prices. An inventory system is proposed that allows municipalities to be sensitive to materials prices as they recycle in accordance with state mandates. A dynamic model is developed; it uses historical secondary material prices as exogenous inputs to minimize the net present value of MSW recycling system cost. The model provides a cost-effective method for municipalities to achieve their MSW recycling targets. The savings is approximately $1.43 per ton of MSW generated based on total MSW management costs of $13.5 per ton. The model also allows one to investigate the effectiveness of various strategies for increasing the recycling rate. These strategies include: reducing the transportation cost for recyclables, supporting the market price of selected secondary materials, and landfill bans on selected materials. This model may also be used to investigate the effect of market price changes on the portfolio of materials held in inventory for recycling.
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- P. Starreveld & Ekko Ierland, 1994. "Recycling of plastics: A materials balance optimisation model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 4(3), pages 251-264, June.
- Masui, T. & Morita, T. & Kyogoku, J., 2000. "Analysis of recycling activities using multi-sectoral economic model with material flow," European Journal of Operational Research, Elsevier, vol. 122(2), pages 405-415, April.
- van der Laan, Erwin & Dekker, Rommert & Salomon, Marc & Ridder, Ad, 1996. "An (s, Q) inventory model with remanufacturing and disposal," International Journal of Production Economics, Elsevier, vol. 46(1), pages 339-350, December.
- Palmer, Karen & Sigman, Hilary & Walls, Margaret, 1997.
"The Cost of Reducing Municipal Solid Waste,"
Journal of Environmental Economics and Management,
Elsevier, vol. 33(2), pages 128-150, June.
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