An Analysis of Stochastic Inventory Control Models in Reverse Logistics Systems Based on a Periodic Review

Abstract

In reverse logistics systems demand can be partially satisfied with new items manufacture or procurement and re-turned products value recovery. The products are brought back to the places where they are stored in most models presented in literature on reverse logistics. Value recovery processes are carried out in due time in order to meet the existing demand. Some part of returns can be disposed of. Inventory management has significant meaning in reverse logistics. This article's purpose is to present models being modifications of a classical inventory control model in a periodic review system. The first model of that kind was developed by Simpson in 1978. Guided by similar assumptions, Inderfurth, Kiesmuller, Minner and Cohen, among others, designed periodic review models as well.