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A simulation-optimisation approach for reconfigurable inventory space planning in remanufacturing facilities

A simulation-optimisation approach for reconfigurable inventory space planning in remanufacturing... Although remanufacturing facilities are becoming increasingly vital components in some supply chains, significant variability over time in returned product volumes, reusable part yields, and refurbished item demand can result in significant variability in storage requirements over time. In response, manufacturers can implement reconfigurable inventory systems to accommodate off-setting swings in storage needs between types of components and processing activities, including temporary external storage. A Monte Carlo (MC) simulation-optimisation approach has first been developed to emulate a generalised remanufacturing facility with random receiving patterns, component yields, and refurbished demand. Then, a multi-dimensional golden section search algorithm is implemented to identify optimal storage capacities and reconfiguration decisions in each time period that minimise long-term expected total cost. In pilot applications, improvements over non-reconfigurable systems range from 9% to 33% reductions in total storage space costs. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Business Performance and Supply Chain Modelling Inderscience Publishers

A simulation-optimisation approach for reconfigurable inventory space planning in remanufacturing facilities

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd. All rights reserved
ISSN
1758-9401
eISSN
1758-941X
DOI
10.1504/IJBPSCM.2013.051656
Publisher site
See Article on Publisher Site

Abstract

Although remanufacturing facilities are becoming increasingly vital components in some supply chains, significant variability over time in returned product volumes, reusable part yields, and refurbished item demand can result in significant variability in storage requirements over time. In response, manufacturers can implement reconfigurable inventory systems to accommodate off-setting swings in storage needs between types of components and processing activities, including temporary external storage. A Monte Carlo (MC) simulation-optimisation approach has first been developed to emulate a generalised remanufacturing facility with random receiving patterns, component yields, and refurbished demand. Then, a multi-dimensional golden section search algorithm is implemented to identify optimal storage capacities and reconfiguration decisions in each time period that minimise long-term expected total cost. In pilot applications, improvements over non-reconfigurable systems range from 9% to 33% reductions in total storage space costs.

Journal

International Journal of Business Performance and Supply Chain ModellingInderscience Publishers

Published: Jan 1, 2013

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