Optimal control of a production-inventory system with product returns and two disposal options

@article{Gayon2017OptimalCO,
  title={Optimal control of a production-inventory system with product returns and two disposal options},
  author={J. Gayon and S. Vercraene and S. Flapper},
  journal={Eur. J. Oper. Res.},
  year={2017},
  volume={262},
  pages={499-508}
}
We consider a production-inventory system facing stochastic product returns that can either be disposed upon arrival or placed in a serviceable inventory, where serviceable products can be disposed at any time. In an M/M/1 make-to-stock queue setting, we establish that the optimal control policy is a threshold policy with three policy parameters and we derive closed-form results for the optimal thresholds and costs. For several situations, we establish that either the disposal upon arrival (DUA… Expand
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