Abstract

We present a Markov model to evaluate a product recovery system with stochastic variability stemming from customer demand, recovery rate and disposal rate. The model is composed of the states that denote the number of products in inventory, the transition probabilities between states and the costs associated with the transitions. Using this model, we can calculate the total expected cost per period. An example is considered to illustrate the implementation of the methodology.

Notes

Originally published in the Proceedings of the 2003 Northeast Decision Sciences Institute Conference, Providence, Rhode Island, pp. 172-174, March 27-29, 2003

Keywords

End of life products, Markov model, Stochastic variability

Subject Categories

Recycling (Waste (etc.))

Disciplines

Engineering

Publisher

Omnipress

Publication Date

2003

Rights Information

Copyright 2003, Surendra M. Gupta

Rights Holder

Gupta M. Surendra



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