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| Analysis of an Inventory Control Strategy for Reverse LogisticsOU |
| YANG Huiqing1,2，ZHU Xiangyang1 |
| (1.School of Mechanical Engineering, Shanghai Jiaotong University, Shanghai 200240, China;2.Shanghai Institution of Special Equipment Inspection & Technical Research, Shanghai 200062, China) |
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Abstract Based on the assumption that demand and return are independent Poisson processes, the inventory position was modeled into a Markov chain. By solving this Markov chain, this paper derived the limiting performance of the inventory system and hence the system expected total cost per unit time. A heuristic approach was developed to determine the upper and lower bounds for the optimal control parameters. The numerical examples show that the reuse of the return items is economical.
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Received: 01 April 2009
Published: 30 March 2010
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