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Industrial and Manufacturing Systems Engineering Publications

Mathematical model

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Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering

Optimal Disposition Decisions For A Remanufacturing System Considering Time Value Of Products, Mostafa Pazoki, Walid Abdul-Kader Jul 2016

Optimal Disposition Decisions For A Remanufacturing System Considering Time Value Of Products, Mostafa Pazoki, Walid Abdul-Kader

Industrial and Manufacturing Systems Engineering Publications

This paper studies disposition decisions of cores where the value of returns deteriorates over time. Mainly in disposition decisions, a remanufacturer is interested to determine how many units to remanufacture and to salvage. To address this research problem along with value deterioration of returns, a rough-cut mathematical model is developed by considering various parameters of interest such as selling price, salvage value and remanufacturing rate with the aim to maximize total profit. Due to uncertainty limitations, the model can provide decision-makers with relevant insights about disposition decisions. Simulation modeling techniques are used to validate the proposed model. Numerical examples are ...