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Open AccessArticle

A Location-Inventory Problem in a Closed-Loop Supply Chain with Secondary Market Consideration

1
School of Management, Jinan University, Guangzhou 510632, China
2
Department of Industrial and Systems Engineering, The State University of New York at Buffalo, Buffalo, NY 14260, USA
3
Department of Accounting, Temple University, Philadelphia, PA 19122, USA
4
School of Information Management, Central China Normal University, Wuhan 430079, China
*
Authors to whom correspondence should be addressed.
Sustainability 2018, 10(6), 1891; https://doi.org/10.3390/su10061891
Received: 30 April 2018 / Revised: 20 May 2018 / Accepted: 1 June 2018 / Published: 5 June 2018
(This article belongs to the Special Issue Sustainable Supply Chain System Design and Optimization)
To design sustainable supply chain systems in today’s business environment, this paper studies a location-inventory problem in a closed-loop supply chain by considering the sales of new and used products in the primary and secondary markets, respectively. This problem is formulated as a mixed-integer nonlinear program to optimize facility location and inventory management decisions jointly, and the logistics flows between the two markets are modeled dynamically. To solve this problem efficiently, a new heuristic approach is also developed by introducing an effective adaptive mechanism into differential evolution. Finally, numerical experiments are presented to validate the solution approach and provide valuable managerial insight. This paper makes a meaningful contribution to the literature by incorporating the secondary market into the study of closed-loop supply chains, and practically, it is also greatly beneficial to improve the sustainability and efficiency of modern supply chains. View Full-Text
Keywords: location-inventory problem; secondary market; closed-loop supply chain; reverse logistics; consumer returns; differential evolution; mixed-integer nonlinear programming; sensitivity analysis location-inventory problem; secondary market; closed-loop supply chain; reverse logistics; consumer returns; differential evolution; mixed-integer nonlinear programming; sensitivity analysis
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MDPI and ACS Style

Guo, H.; Li, C.; Zhang, Y.; Zhang, C.; Lu, M. A Location-Inventory Problem in a Closed-Loop Supply Chain with Secondary Market Consideration. Sustainability 2018, 10, 1891.

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