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Operations Research, Systems Engineering and Industrial Engineering Commons

Open Access. Powered by Scholars. Published by Universities.®

Series

University of Windsor

2011

Articles 1 - 1 of 1

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

Optimal Production Planning For A Multi-Product Closed Loop System With Uncertain Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha Mar 2011

Optimal Production Planning For A Multi-Product Closed Loop System With Uncertain Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha

Mechanical, Automotive & Materials Engineering Publications

We study the production planning problem for a multi-product closed loop system, in which the manufacturer has two channels for supplying products: producing brand-new products and remanufacturing returns into as-new ones. In the remanufacturing process, used products are bought back and remanufactured into as-new products which are sold together with the brand-new ones. The demands for all the products are uncertain, and their returns are uncertain and price-sensitive. The problem is to maximize the manufacturer's expected profit by jointly determining the production quantities of brand-new products, the quantities of remanufactured products and the acquisition prices of the used products ...