Efficient multi-objective optimization of supply chain with returned products
Abstract
Closed loop supply chain aims at integrating return products in the traditional supply chain processes. The return flows generate new uncertain elements (returns and leadtimes) and optimization of inventory control in this context is a complex issue. Inventory policies have to generate good performances (service level, cost) and be easy to implement in practice. A supply chain model based on simulation and multi-objective optimization is proposed to optimize control policies for multi-echelon supply chain with returned products. The method is tested on three inventory policies which correspond to different ways of making decision.