Optimal inventory policies for remanufacturing inventory systems with multiple returns
Industrial Engineering and Engineering Management(2014)
Abstract
This paper considers a remanufacturing inventory system with multiple returns, and derives the optimal policies for its inventory replenishment. To adapt more generic industry applications, dynamic demands and returns are incorporated into the remanufacturing inventory system. The results show that the optimal policies are not independent among classes under certain state conditions. In addition, we also obtain the transition among the state conditions to give a clear picture on how the system behaves dynamically.
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Key words
inventory management,recycling,generic industry applications,inventory replenishment,multiple returns,optimal inventory policies,remanufacturing inventory systems,Maximum Principle,Optimal inventory Policies,Remanufacturing Inventory Systems
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