The value of product life-cycle for deteriorating items in a closed loop under the reverse logistics operations

Abstract

Owing to its strategic implications, reverse logistics has received much attention in recent years. Growing green concerns and advancement of reverse logistics concepts make it all the more relevant who can be achieved through the Endof- Life (EoL) treatment. In the proposed model, we develop a production inventory model with the reverse flow of the material. Here we determined the value of product life cycle with EoL scenario where the reverse logistics operations deal with the collection, sorting, cleaning, dissembling, and remanufacturing of the buyback products. The purpose of this paper is to develop an effective and efficient management of product remanufacturing. As a result, in this article, we establish a mathematical formulation of the model to determine the optimal payment period and replenishment cycle. Illustrative examples, which explain the application of the theoretical results as well as their numerical verifications, are also given. Finally, the sensitivity analysis is reported.