A Comparison of Inventory Control Policies for a Joint Manufacturing / Remanufacturing Environment with Remanufacturing Yield Loss

Date

2004-08-24

Author

Bayındır, Zeynep Pelin
Dekker, Rommert

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We consider a joint manufacturing / remanufacturing environment with remanufacturing yield loss. Demand and return follow independent stationary Poisson processes. Returns can be disposed oﬀ upon arrival to the system. Manufacturing and remanufacturing operations performed in the same facility at exponential rates. Yield information becomes available after remanufacturing. Demands that are not directly satisﬁed are lost. We investigate what inventories to consider when making production and disposal decisions, with the objective of maximizing the long-run average expected proﬁt. Four diﬀerent policies are compared that base disposal decisions on either the local (returns) inventory or the global inventory, and production decisions on either the local (serviceable) inventory or the global inventory. By modelling the system as a Markov process, expressions for the proﬁt associated with each policy are derived. An extensive numerical study shows that it is always optimal to base disposal decisions on the local inventory and production decisions on the global inventory within the parameter sets considered. A sensitivity analysis reveals further insights.

Subject Keywords

Inventory control, Product returns

URI

https://hdl.handle.net/11511/86192

Conference Name

13th International Symposium on Inventories, 22 - 27 Ağustos 2004

Collections

Department of Industrial Engineering, Conference / Seminar

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Citation Formats

Z. P. Bayındır and R. Dekker, “A Comparison of Inventory Control Policies for a Joint Manufacturing / Remanufacturing Environment with Remanufacturing Yield Loss,” presented at the 13th International Symposium on Inventories, 22 - 27 Ağustos 2004, Budapest, Macaristan, 2004, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/86192.