Optimal policy for a periodic review returnable inventory system (original) (raw)

Iie Transactions, 1998

Abstract

In this paper, we consider the inventory control problem in a periodic review returnable system. In a returnable system, containers are returned by consumers to the manufacturer for reuse. We view the returns in a given period to be a stochastic function of the number of containers out in the field. Using dynamic programming, we derive the optimal inventory control policy for the system.

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