Reverse Logistics Recovery Option On The Product Return And Sorting Policy
European Journal of Molecular & Clinical Medicine,
2020, Volume 7, Issue 8, Pages 3784-3796
AbstractIn order to balance economic and environmental strategies through the reconciliation of end of life or end of use product value, reverse logistics and product recovery management are an important concept. Valuable components and materials in the used returned products can produce value in monetary forms when retrieved efficiently. This study's primary purpose is to explore and develop a model that recovers the economic value of end of life or end of use product returns and the sorting policy to optimize demand and maximize income over time. The model proposed focuses on reverse logistics recovery options, i.e., refurbish, remanufacture, recycling, and disposal, combining all possible means of return quality standards. A range of decisions on trade-off management systems is evaluated to maximize the revenue created by collecting used products by reverse logistics services using restoration, remanufacturing, and recycling options. The findings showed the process of acquiring less of the acquisition quantity at a minimum overall cost with the sorting policy. Finally, the model offers various potential scenarios for maximizing the total cost recovery options of end of life or end of use products.
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