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author:

Yang, Cheng-Hu (Yang, Cheng-Hu.) [1] | Ma, Xin (Ma, Xin.) [2] | Talluri, Srinivas (Talluri, Srinivas.) [3]

Indexed by:

EI

Abstract:

When making decisions to acquire used products or components (cores), a remanufacturer faces limited information on the quality or proportional yield of cores during the recovery process. In this paper, we propose and analyse a robust optimisation model for studying the remanufacturing decision problem with partial random yield information, that is, when the quality information of cores is partly unknown in a remanufacturing system. Regarding the impacts of unknown yield information, we only require the support and mean of the proportional yield rather than the true distributions. The closed-form solutions of acquisition quantities are derived based on the minimax regret approach. In addition, to validate the effectiveness of the analytical results, particularly the acquisition of yield information, numerical experiments are designed and implemented using (1) the support and mean of the proportional yield based on the manufacturer’s knowledge and (2) a sampling inspection to evaluate the performance of the robust optimisation approach, the benchmark, and the naïve approach. We observe that the minimax regret approach slightly underperforms compared to the benchmark but performs much better than the naïve approach. As an acceptable choice, this approach is less complicated and extremely easy to implement to meet the needs of practical situations based on its robust closed-form solutions. © 2018, © 2018 Informa UK Limited, trading as Taylor & Francis Group.

Keyword:

Benchmarking Decision theory Mergers and acquisitions Optimization

Community:

  • [ 1 ] [Yang, Cheng-Hu]School of Economics and Management, Fuzhou University, Fuzhou, China
  • [ 2 ] [Ma, Xin]Department of Management, Monash Business School, Monash University, Melbourne, Australia
  • [ 3 ] [Talluri, Srinivas]Department of Supply Chain Management, Eli Broad College of Business, Michigan State University, East Lansing; MI, United States

Reprint 's Address:

  • [talluri, srinivas]department of supply chain management, eli broad college of business, michigan state university, east lansing; mi, united states

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Source :

International Journal of Production Research

ISSN: 0020-7543

Year: 2019

Issue: 6

Volume: 57

Page: 1624-1644

4 . 5 7 7

JCR@2019

7 . 0 0 0

JCR@2023

ESI HC Threshold:150

JCR Journal Grade:1

CAS Journal Grade:2

Cited Count:

WoS CC Cited Count: 0

SCOPUS Cited Count: 13

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 0

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