Lot-sizing for a single-product recovery system with backordering

Lot-sizing for a single-product recovery system with backordering

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Article ID: iaor2007107
Country: United Kingdom
Volume: 44
Issue: 10
Start Page Number: 2031
End Page Number: 2045
Publication Date: Jan 2006
Journal: International Journal of Production Research
Authors: ,
Keywords: inventory
Abstract:

In this article, a single-product recovery system is studied. Used products are collected from customers and kept at the recoverable inventory warehouse for future recovery. The constant demand rate can be satisfied either by newly produced products or by recovered ones (serviceable inventory), which are regarded as perfectly as the new ones. Excess demand is completely backordered. Following an exact analytical approach, the optimal production and recovery policy is obtained. A numerical cost comparison of this model with the corresponding one without backordering is also performed. The results are general, as they were valid for finite and infinite production and recovery rates.

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