Inventory Strategies for Systems with Fast Remanufacturing

27 Pages Posted: 5 Feb 2003

See all articles by Ruud Teunter

Ruud Teunter

Erasmus University Rotterdam (EUR) - Department of Econometrics; Erasmus Research Institute of Management (ERIM)

E. van der Laan

Erasmus University Rotterdam (EUR) - Department of Technology and Operations Management; Erasmus Research Institute of Management (ERIM)

Dimitrios Vlachos

Aristotle University of Thessaloniki - Department of Mechanical Engineering

Date Written: 30 2002 9,

Abstract

We describe hybrid manufacturing/remanufacturing systems with a long lead time for manufacturing and a short lead time for remanufacturing. We review the classes of inventory strategies for hybrid systems in the literature. These are all based on equal lead times. For systems with slow manufacturing and fast remanufacturing, we propose a new class. An extensive numerical experiment shows that the optimal strategy in the new class almost always performs better and often much better than the optimal strategies in all other classes.

Keywords: logistics, remanufacturing, stochastic inventory control

JEL Classification: M, M11, R4, L6

Suggested Citation

Teunter, Ruud and van der Laan, Erwin A. and Vlachos, Dimitrios, Inventory Strategies for Systems with Fast Remanufacturing (30 2002 9,). ERIM Report Series Reference No. ERS-2002-77-LIS. Available at SSRN: https://ssrn.com/abstract=371027

Ruud Teunter (Contact Author)

Erasmus University Rotterdam (EUR) - Department of Econometrics ( email )

P.O. Box 1738
3000 DR Rotterdam
Netherlands
+31 1 408 1523/9162 (Phone)

Erasmus Research Institute of Management (ERIM) ( email )

P.O. Box 1738
3000 DR Rotterdam
Netherlands

Erwin A. Van der Laan

Erasmus University Rotterdam (EUR) - Department of Technology and Operations Management ( email )

RSM Erasmus University
PO Box 1738
3000 DR Rotterdam
Netherlands

Erasmus Research Institute of Management (ERIM) ( email )

P.O. Box 1738
3000 DR Rotterdam
Netherlands

Dimitrios Vlachos

Aristotle University of Thessaloniki - Department of Mechanical Engineering ( email )

Thessaloniki, 54006
Greece

Register to save articles to
your library

Register

Paper statistics

Downloads
314
Abstract Views
2,146
rank
96,025
PlumX Metrics