Optimal ordering and recovery policy for reusable items with shortages

Authors:
H. M. Wee;Jonas C. P. Yu;Ling-Huey Su;Te-Chin Wu
Affiliations:
Department of Industrial Engineering Chung Yuan Christian University, Chung Li City, Taiwan;Logistics Management Department, Takming College, Ney Hwu Taipei City, Taiwan;Department of Industrial Engineering Chung Yuan Christian University, Chung Li City, Taiwan;Department of Industrial Engineering Chung Yuan Christian University, Chung Li City, Taiwan
Venue:
SEAL'06 Proceedings of the 6th international conference on Simulated Evolution And Learning
Year:
2006

Citing 1
Cited 1

An optimal ordering and recovery policy for reusable items

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Abstract

This study considers inventory of reusable items with shortages and develops a replenishing and production policy to satisfy customer need, and to promote the smart use of resources. Distinct from former researches, our study considers reusable items with shortages to derive the best replenishment and production strategy. A hybrid of numerical analysis and search method is used to derive the minimum total cost of the mathematical model. The result is compared with the case when no shortage is allowed.