Optimal Control Policy for Stochastic Inventory Systems with Multiple Types of Reverse Flows
We study a single-product periodic-review inventory system with multiple types of returns. The serviceable products used to fulfill stochastic customer demand can be either manufactured/ordered, or remanufactured from the returned products, and the objective is to minimize the expected total discounted cost over a finite planning horizon. We show that, under some circumstances but not all, the optimal policy has a simple form and can be completely characterized by a sequence of constant control parameters. However, in some other scenarios, the optimal policy can be quite complicated and control parameters are state-dependent. We present a partial characterization on the optimal control policy for the general case when there are only two types of returns.
Inventory system product returns reverse logistics remanufacturing control policy and base-stock levels
Sean X. Zhou Zhijie Tao Xiuli Chao
Department of Systems Engineering and Engineering Management The Chinese University of Hong Kong, Sh Department of Industrial and Operations Engineering University of Michigan, Ann Arbor, MI 48109-2117
国际会议
The Seventh International Symposium(ISORA08)(第七届国际效力研究及其应用学术会议)
云南丽江
英文
25-45
2008-10-31（万方平台首次上网日期，不代表论文的发表时间）