IJPE-D-15-01271R1_Navin deb.pdf (385.52 kB)
Strategic design for inventory and production planning in closed-loop hybrid systems
journal contribution
posted on 2016-11-08, 09:44 authored by Navin K. Dev, Ravi Shankar, Alok ChoudharyAlok ChoudharyThis research studies inventory and production planning in a closed-loop system while considering both manufacturing and remanufacturing. We studied five inventory and production planning models under the continuous and periodic review systems using a discrete event simulation. Under the above review policies, different demand and return rates, as well as manufacturing and remanufacturing lead times, are considered. The total recoverable and serviceable inventory costs and production order variance are considered as the main
performance indicators. From the total inventory cost viewpoint, our findings reveal the trade-off between stochastic demand, stochastic lead times, and review periods. It was found that the periodic review system outperforms the continuous review system for higher values of the
review period and return to demand rate ratio. Furthermore, remanufacturing demonstrates an appreciable contribution to low order variance in periodic review systems for high values of return to demand ratio and lead times.
History
School
- Business and Economics
Department
- Business
Published in
International Journal of Production EconomicsCitation
DEV, N.K., SHANKAR, R. and CHOUDHARY, A.K., 2016. Strategic design for inventory and production planning in closed-loop hybrid systems. International Journal of Production Economics, 183, Part B, pp.345-353.Publisher
© ElsevierVersion
- AM (Accepted Manuscript)
Publisher statement
This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/Acceptance date
2016-06-01Publication date
2016Notes
This paper was accepted for publication in the journal International Journal of Production Economics and the definitive published version is available at http://dx.doi.org/10.1016/j.ijpe.2016.06.017ISSN
0925-5273Publisher version
Language
- en