Loughborough University
Leicestershire, UK
LE11 3TU
+44 (0)1509 263171
Loughborough University

Loughborough University Institutional Repository

Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/23089

Title: Strategic design for inventory and production planning in closed-loop hybrid systems
Authors: Dev, Navin K.
Shankar, Ravi
Choudhary, Alok K.
Keywords: Closed-loop hybrid systems
Inventory and production planning
Order variance
Issue Date: 2016
Publisher: © Elsevier
Citation: 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.
Abstract: This 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.
Description: 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.2016.06.017
Version: Accepted for publication
DOI: 10.1016/j.ijpe.2016.06.017
URI: https://dspace.lboro.ac.uk/2134/23089
Publisher Link: http://dx.doi.org/10.1016/j.ijpe.2016.06.017
ISSN: 0925-5273
Appears in Collections:Published Articles (Business School)

Files associated with this item:

File Description SizeFormat
IJPE-D-15-01271R1_Navin deb.pdfAccepted version385.52 kBAdobe PDFView/Open


SFX Query

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.