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.
End of life products, Markov model, Stochastic variability
Recycling (Waste (etc.))
Copyright 2003, Surendra M. Gupta
Gupta M. Surendra
Gupta, Surendra M. and Nakashima, Kenichi, "Performance evaluation of a product recovery system" (2003). . Paper 90. http://hdl.handle.net/2047/d10013829
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