We test the lower bound for a static remanufacturing system with returns proposed by Feng and Viswanathan (2014) against two heuristics proposed by Choi et al. (2007) and Schulz and Voigt (2014). A numerical study with 81,000 instances concludes that the lower bound always holds for the Choi...

We consider a manufacturer’s stochastic production/inventory problem under periodic review and present methods for safety stock determination to cope with uncertainties that are caused by stochastic demand and different types of yield randomness. Following well-proven inventory control...

This contribution focuses on the cost-effective management of the combined use of two procurement options: the short-term option is given by a spot market with random price, whereas the long-term alternative is characterized by a multi period capacity reservation contract with fixed purchase...