Inventory optimization in a one product recoverable manufacturing system
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 planni...
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| Veröffentlicht in: | International journal of production economics 2010-03, Vol.124 (1), p.11-19 |
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| container_title | International journal of production economics |
| container_volume | 124 |
| creator | Sebnem Ahiska, S. King, Russell E. |
| description | 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. |
| doi_str_mv | 10.1016/j.ijpe.2009.09.002 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0925-5273 |
| ispartof | International journal of production economics, 2010-03, Vol.124 (1), p.11-19 |
| issn | 0925-5273 1873-7579 |
| language | eng |
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| source | RePEc; Elsevier ScienceDirect Journals |
| subjects | Economics Inventories Inventory control Inventory management Manufacturing Markov analysis Markov decision process Optimization Optimization techniques Policies Policy characterization Production planning Recoverable manufacturing system Recovery Remanufacturing Remanufacturing Recoverable manufacturing system Stochastic inventory control Markov decision process Setup cost Policy characterization Setup cost Stochastic inventory control Stockpiling Studies |
| title | Inventory optimization in a one product recoverable manufacturing system |
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