Multi-Item Inventory Control with Reverse Logistics Based on (s, S) Inventory System
Weifan Jiang, Qifan Hu
Abstract
Weifan Jiang, Qifan Hu
Abstract
Focused on the issue of inventory control of multi-item with reverse logistics, this paper analyzes the cost elements on the basis of taking the withdrawal into whole inventory. On condition that the product return is permitted and the recovered products can be sold as new, this paper uses order range instead of reorder point, and adopts (s, S) inventory system to control inventory, and obtains the controls parameters of the minimal cost by using simulate method.
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Focused on the issue of inventory control of multi-item with reverse logistics, this paper analyzes the cost elements on the basis of taking the withdrawal into whole inventory. On condition that the product return is permitted and the recovered products can be sold as new, this paper uses order range instead of reorder point, and adopts (s, S) inventory system to control inventory, and obtains the controls parameters of the minimal cost by using simulate method.
Key concepts: Reorder point, Inventory control, Inventory theory, Reverse logistics, Perpetual inventory, Cycle count, Inventory cost, Economic order quantity