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An Inventory Model with Dependent Product Demands and ReturnsGudrun KiesmüllerEindhoven University of Technology (TUE) - Faculty of Technology Management E. Van der LaanErasmus University Rotterdam (EUR) - Department of Decision and Information Sciences; Erasmus Research Institute of Management (ERIM) 27 2001 3, ERIM Report Series Reference No. ERS-2001-16-LIS Abstract: In this paper an inventory model for a single reusable product is investigated,in which the random returns depend explicitly on the demand stream. Further,the model distinguishes itself from most other research in this field by consideringleadtimes and a finite planning horizon. We show that neglecting the dependencybetween demands and returns of products may lead to bad performance with respectto total average relevant costs. Additionally, our results enable us to determine theminimal recovery probability or the minimal length of the planning horizon forwhich reuse is profitable.
Number of Pages in PDF File: 30 Keywords: reusable products, remanufacturing, order-up-to policy, Markov Chain JEL Classification: M, M11, R4 working papers seriesDate posted: February 10, 2003Suggested CitationContact Information
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