Optimal inventory policies with product reliability information

Author

Pu Qiao ; Dali Zhang ; Xiao Liu

Author_Institution

Sino-US Global Logistics Inst., Shanghai Jiao Tong Univ., Shanghai, China

fYear

2015

fDate

23-25 May 2015

Firstpage

1057

Lastpage

1062

Abstract

The paper proposes a model for a supply chain system with remanufacturing processes. We use the model to investigate an inventory management strategy where the reliability information of products being used at the customers are integrated into the optimal analysis. The reliability information is characterized by Nelson´s Cumulative Exposure (CE) model (Nelson 1990). By doing so, our study shows that a data set of products´ failure and install times at the customer side can promote the accuracy of solutions to the optimal policy.

Keywords

inventory management; recycling; reliability; supply chain management; CE model; Nelson cumulative exposure model; inventory management strategy; optimal analysis; optimal inventory policies; optimal policy; product failure; product reliability information; remanufacturing process; supply chain system; Companies; Degradation; Load modeling; Maintenance engineering; Mathematical model; Reliability; Vibrations; (s, S) inventory policy; Remanufacturing process; customer information; reliability analysis;

fLanguage

English

Publisher

ieee

Conference_Titel

Control and Decision Conference (CCDC), 2015 27th Chinese

Conference_Location

Qingdao

Print_ISBN

978-1-4799-7016-2

Type

conf

DOI

10.1109/CCDC.2015.7162073

Filename

7162073