Inventory management of remanufacturable products

Inventory management of remanufacturable products

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Article ID: iaor20031739
Country: United States
Volume: 46
Issue: 11
Start Page Number: 1412
End Page Number: 1426
Publication Date: Nov 2000
Journal: Management Science
Authors: , ,
Keywords: remanufacturing, queueing networks
Abstract:

We address the procurement of new components for recyclable products in the context of Kodak's single-use camera. The objective is to find an ordering policy that minimizes the total expected procurement, inventory holding, and lost sales cost. Distinguishing characteristics of the system are the uncertainty and unobservability associated with return flows of used cameras. We model the system as a closed queueing network, develop a heuristic procedure for adaptive estimation and control, and illustrate our methods with disguised data from Kodak. Using this framework, we investigate the effects of various system characteristics such as informational structure, procurement delay, demand rate, and length of the product's life cycle.

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