Developing an exact solution for an inventory system with product recovery

Developing an exact solution for an inventory system with product recovery

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Article ID: iaor200956
Country: Netherlands
Volume: 111
Issue: 2
Start Page Number: 707
End Page Number: 712
Publication Date: Jan 2008
Journal: International Journal of Production Economics
Authors: ,
Keywords: remanufacturing
Abstract:

In this article, we revisit an earlier paper by Teunter. The solution algorithm proposed there, is partly heuristic and so it leads to an approximate policy. Computational experience shows that this algorithm behaves very well and gives, in many cases, results close to the optimum. The optimization algorithm proposed in this article leads to the exact optimal policy within a specific class of policies.

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