A stochastic model for a multi-period multi-product closed loop supply chain

Citation:
Baptista, Susana, Maria Isabel Gomes, and Ana Paula Barbosa-póvoa. "A stochastic model for a multi-period multi-product closed loop supply chain." In XVI Congresso da Associação Portuguesa de Investigação Operacional IO 2013, 27-37. Bragança, Portugal, 2013.

Abstract:

In this work we propose a stochastic model for the design and planning of closed-loop supply chains.
Uncertainties in demand and return volumes are modelled together with uncertain transportation
costs. A two-stage stochastic programming is developed and a sensitivity analysis to the worst-case
probability is performed in order to test the solution robustness. Finally, in order to prove the
goodness of the stochastic approach, the value of the stochastic solution and the value of perfect
information are computed. An example based on a real case shows the model applicability.

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