Title: Optimal production policies for reverse logistic model under time value of money

Authors: Leena Prasher; S.R. Singh

Addresses: Department of Mathematics, Banasthali University, Banasthali, Rajasthan 304022, India ' Department of Mathematics, D.N. College, Meerut 250001, India

Abstract: One of the important dimensions of environmental protection is the reuse and/or recycling of the items that are returned by the customers for various reasons. Such recycling and reuse prevents the flow of these unusable items into the environment and as such prevents environmental degradation. This paper deals with reverse logistic production inventory model in inflationary conditions and permissible delay in payment over finite planning horizon. The demand rate is a function of on hand inventory, production rate is a linear function of demand and thus nonlinear function of on hand inventory, items are returnable and returnable items are remanufactured. The proposed model considers the two systems simultaneously forward manufacturing system and reverses manufacturing system and derives the optimal production policy. The effects of various parameters involved are discussed. The results are discussed with a numerical example to illustrate the theory and particular cases of the model are discussed in brief.

Keywords: reverse manufacturing; flexible manufacturing; inflation; trade credit; stock dependent demand; deteriorating items.

DOI: 10.1504/IJOR.2017.085098

International Journal of Operational Research, 2017 Vol.29 No.4, pp.531 - 552

Received: 13 Dec 2014
Accepted: 28 Jan 2015
Published online: 12 Jul 2017 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article