The impact of information sharing, random yield, correlation, and lead times in closed loop supply chains

Hosoda, Takamichi, Disney, Stephen M. ORCID: https://orcid.org/0000-0003-2505-9271 and Gavirneni, Nagesh 2015. The impact of information sharing, random yield, correlation, and lead times in closed loop supply chains. European Journal of Operational Research 246 (3) , pp. 827-836. 10.1016/j.ejor.2015.05.036

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Abstract

We investigate the impact of advance notice of product returns on the performance of a decentralised closed loop supply chain. The market demands and the product returns are stochastic and are correlated with each other. The returned products are converted into “as-good-as-new” products and used, together with new products, to satisfy the market demand. The remanufacturing process takes time and is subject to a random yield. We investigate the benefit of the manufacturer obtaining advance notice of product returns from the remanufacturer. We demonstrate that lead times, random yields and the parameters describing the returns play a significant role in the benefit of the advance notice scheme. Our mathematical results offer insights into the benefits of lead time reduction and the adoption of information sharing schemes.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics) Centre for Advanced Manufacturing Systems At Cardiff (CAMSAC)
Subjects:	H Social Sciences > HD Industries. Land use. Labor
Additional Information:	Released with a Creative Commons Attribution Non-Commercial No Derivatives License (CC BY-NC-ND)
Publisher:	Elsevier
ISSN:	0377-2217
Date of First Compliant Deposit:	30 March 2016
Date of Acceptance:	14 May 2015
Last Modified:	08 Nov 2023 13:11
URI:	https://orca.cardiff.ac.uk/id/eprint/73360

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