Highlights We propose a mathematical model with the refurbishment service and trade-in program. To capture the correlated uncertain demands, we adopt the factor-based demand. We derive the second-order cone program from the multistage stochastic program. Computational results show that our model is tractable and provides a tight bound.
Abstract We propose a closed-loop supply chain system that incorporates a trade-in program and refurbishment service simultaneously. Through the trade-in program, retailers collect used old-generation products from customers and provide them with new-generation products at a discount price. It helps to acquire the additional products required for the refurbishment service. The proposed integrated system could be useful to retailers selling the smartphone which has a high potential in emerging markets. We approximate the multistage stochastic optimization model to the robust counterpart which features a second-order cone program. Computational results provide managerial insights that could be beneficial to the retailer.
Robust multiperiod inventory model considering trade-in program and refurbishment service: Implications to emerging markets
2020-03-30
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
Multiperiod Network Improvement Model
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