Hosoda, Takamichi and Disney, Stephen M.  ORCID: https://orcid.org/0000-0003-2505-9271
2018.
A unified theory of the dynamics of closed-loop supply chains.
European Journal of Operational Research
269
(1)
, pp. 313-326.
10.1016/j.ejor.2017.07.020
|
Preview |
PDF
- Accepted Post-Print Version
Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (385kB) | Preview |
Abstract
We investigate the dynamics of a closed-loop supply chain with first-order auto-regressive (AR(1)) demand and return processes. We assume these two processes are cross-correlated. The remanufacturing process is subject to a random triage yield. Remanufactured products are considered as-goodas- new and used to partially satisfy market demand; newly manufactured products make up the remainder. We derive the optimal linear policy in our closed-loop supply chain setting to minimise the manufacturer’s inventory costs. We show that the lead-time paradox can emerge in many cases. In particular, the auto- and cross-correlation parameters and variances of the error terms in the demand and the returns, as well as the remanufacturing lead time, all influence the existence of the lead-time paradox. Finally, we propose managerial recommendations for manufacturers.
| Item Type: | Article |
|---|---|
| Date Type: | Publication |
| Status: | Published |
| Schools: | Schools > Business (Including Economics) |
| Uncontrolled Keywords: | Supply Chain Management, Closed-loop Supply Chain, Vector Auto-Regressive Process, Order-Up-To Policy, Random Yield |
| Additional Information: | Released with a Creative Commons Attribution Non-Commercial No Derivatives License (CC BY-NC-ND) |
| Publisher: | Elsevier |
| ISSN: | 0377-2217 |
| Funders: | JSPS KAKENHI Grant Number 25380475 |
| Date of First Compliant Deposit: | 2 July 2017 |
| Date of Acceptance: | 2 July 2017 |
| Last Modified: | 15 Nov 2024 18:31 |
| URI: | https://orca.cardiff.ac.uk/id/eprint/101971 |
Citation Data
Cited 31 times in Scopus. View in Scopus. Powered By Scopus® Data
Actions (repository staff only)
 |
Edit Item |
Altmetric
Altmetric