A production–repair inventory model with time-varying demand and multiple setups

Mohd Omar and Ivan Yeo

International Journal of Production Economics, 2014, vol. 155, issue C, 398-405

Abstract: In this paper, we proposed a model for an inventory system that satisfies a continuous time-varying demand for a finished product over a known and finite planning horizon by supplying both new and repaired items. New items are fabricated from a single type of raw material procured from external suppliers, while used items are collected from the customers and then repaired to a condition that is as-good-as-new. During each time interval, new items and used items are produced from multiple production and repair runs. The problem is to determine a joint policy for raw materials procurement, new items fabrication, and used items repair such that the total relevant cost of the model is minimized. We also proposed a numerical solution procedure and we tested the model with some numerical examples and a simple sensitivity analysis.

Keywords: Inventory; Production; Time-varying demand; Reuse (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:proeco:v:155:y:2014:i:c:p:398-405

DOI: 10.1016/j.ijpe.2013.12.034

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