2011Unpublished venueRequires access

Multi-Item Inventory Control with Reverse Logistics Based on (s, S) Inventory System

Weifan Jiang, Qifan Hu

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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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What this paper is about

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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Available 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.

Key concepts: Reorder point, Inventory control, Inventory theory, Reverse logistics, Perpetual inventory, Cycle count, Inventory cost, Economic order quantity

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