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3133. An emergency supply policy for an inventory replenishment model with returns and partial backorders
Invited abstract in session MB-23: Managing product returns, stream Circular Economy, Remanufacturing and Recycling .
Monday, 10:30-12:00Room: 82 (building: 116)
Authors (first author is the speaker)
| 1. | Yonit Barron
|
| Industrial & Management, Ariel University | |
| 2. | Netanel Drezner
|
| Ariel University |
Abstract
This paper studies a continuous-review inventory replenishment model with a limited storage capacity S in an uncertain environment. We assume that the demands and returns follow independent Poisson processes. We further assume a random shelf life, a random lead time, and early loss. The storage is managed according to the base-stock (S,s) policy for s0. In case of overstock, each returned item exceeding S is transferred to a foreign facility. If during the lead time a demand reaches zero stock, we consider two alternatives: either allow partial backordering up to L_{B} items, beyond which the unsatisfied demand is lost, or call for an immediate and costly emergency supply up to level 0
Keywords
- Inventory
- Stochastic Models
- Practice of OR
Status: accepted
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