Journal
TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW
Volume 138, Issue -, Pages -Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.tre.2020.101932
Keywords
Inventory model; Trade-in program; Refurbishment service; Closed-loop supply chain system; Robust optimization; Emerging market
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Funding
- National Research Foundation of Korea (NRF) - Ministry of Science, ICT and Future Planning [NRF-2019R1A2C2084616]
- National Research Foundation of Korea [21A20130012638] Funding Source: Korea Institute of Science & Technology Information (KISTI), National Science & Technology Information Service (NTIS)
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We propose a closed-loop supply chain system that incorporates a trade-in program and refurbishment service simultaneously. Through the trade-in program, retailers collect used oldgeneration products from customers and provide them with new-generation products at a discount price. It helps to acquire the additional products required for the refurbishment service. The proposed integrated system could be useful to retailers selling the smartphone which has a high potential in emerging markets. We approximate the multistage stochastic optimization model to the robust counterpart which features a second-order cone program. Computational results provide managerial insights that could be beneficial to the retailer.
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