Today's common business practice of extracting non-renewable raw materials from the earth, processing them, turning them into products, selling the products to customers, and then having the customers dispose of the products in a landfill or through incineration is not sustainable. Eventually, the basic raw materials that are used to build most of the products our economy is based on will run out, or become prohibitively expensive to extract. Cognizant of this fact, many firms are taking a closer look at their supply chain practices and exploring ways to reduce the amount of their product that ends up in landfills. They do so by finding profitable ways to recover their used products for remanufacturing, refurbishing, or recycling. The study of these efforts has been termed Closed-Loop Supply Chains. Strategic and Tactical Aspects of Closed-Loop Supply Chains reviews the recent research in this field with a particular focus on the strategic and tactical issues. Representative models from each area are presented along with their key managerial insights, providing the reader with both a high level overview and an in-depth look at the common assumptions and modeling frameworks that are used. Where appropriate, suggestions for needed research are pointed out.
Closed-Loop Supply Chains (CLSC) offer companies a unique opportunity to improve their profits whilst serving societal responsibility. The management of CLSC differs in a number of ways from managing supply chains in general. The book examines these differences and how these differences may be dealt with in practice, by offering a concrete framework, introducing the different aspects related to CLSC and their mutual relations, in a systematic logical way as well as cases clustered according to the inputs for a CLSC. The framework and especially the cases from successful companies offer the reader an invaluable help to build and improve CLSC.
New Developments to Improve the Sustainability of Business Practices
Author: Mark E. Ferguson
Publisher: CRC Press
Category: Business & Economics
Closed-loop supply chain activities such as remanufacturing, recycling, dismantling for spare parts, and reverse logistics have helped many companies tap into new revenue streams by finding secondary markets for their products, all while reducing their overall carbon footprint. A comprehensive yet concise presentation of closed-loop supply chain processes, Closed-Loop Supply Chains: New Developments to Improve the Sustainability of Business Practices investigates the state of the art in this rapidly growing and environmentally significant field. Written by academic experts, in language that is accessible to practitioners, this reader-friendly reference examines recent research and case studies of companies running profitable reuse/remanufacture/recycling operations in various industries. It illustrates profitable practices in returned and recovered products, and clearly explains how to: design a reverse logistics network, conduct production planning, implement effective marketing strategies for recovered products, and apply closed-loop supply chain strategies in other industries besides manufacturing. From product development to materials to assembly and profitability, this authoritative resource illustrates the impact of these processes across all aspects of the supply chain. It provides a business perspective of how to properly implement these processes in your company to achieve profitable and sustainable operations in a more environmentally friendly manner. It also: Investigates strategic decisions companies face in regard to the secondary market for their products, including opportunity costs Examines tactical issues firms will face once the decision to remanufacture has been made, including how to market remanufactured products Summarizes the key characteristics and practices in a variety of industries where remanufacturing has been successful Explains how to conceptualize and manage changes due to switching to a closed-loop supply chain Demonstrates how to handle changing legislation Designed for ease of reference, each chapter covers a specific topic—in a completely self-contained manner—allowing readers to quickly and easily reference the chapters of particular relevance to their industry and situation.
The structure of this book follows the decision-making process of Original Equipment Manufacturers investigating the potential of closed loops, including fundamental questions managers must answer when planning a circular supply chain: Does a closed loop fit corporate objectives? Is it profitable? How should OEMs deal with free-rider competition? Which product/technology/location setup leads to a profit-maximizing supply chain? The book includes case studies from the tire and the computer industry.
Increasing legislative and environmental pressure requires businesses to become more responsive to products that either have been returned or that are at the end of their useful lives. Life cycles are getting shorter, and efficient handling can save large amounts of money since many materials can be extracted and reused or redistributed. Reverse lo
This book provides an overview of important trends and developments in logistics and supply chain research, making them available to practitioners, while also serving as a point of reference for academicians. Operations and logistics are cornerstones of modern supply chains that in turn are essential for global business and economics. The composition, character and importance of supply chains and networks are rapidly changing, due to technological innovations such as Information and Communication Technologies, Sensors and Robotics, Internet of Things, and Additive Manufacturing, to name a few (often referred to as Industry 4.0). Societal developments such as environmental consciousness, urbanization or the optimal use of scarce resources are also impacting how supply chain networks are configured and operated. As a result, future supply chains will not just be assessed in terms of cost-effectiveness and speed, but also the need to satisfy agility, resilience and sustainability requirements. To face these challenges, an understanding of the basic as well as more advanced concepts and recent innovations is essential in building competitive and sustainable supply chains and, as part of that, logistics and operations. These span multiple disciplines and geographies, making them interdisciplinary and international. Therefore, this book contains contributions and views from a variety of experts from multiple countries, and combines management, engineering as well as basic information technology and social concepts. In particular, it aims to: provide a comprehensive guide for all relevant and major logistics, operations, and supply chain management topics in teaching and business practice address three levels of expertise, i.e., concepts and principles at a basic (undergraduate, BS) level, more advanced topics at a graduate level (MS), and finally recent (state-of-the-art) developments at a research level. In particular the latter serve to present a window on current and future (potential) logistics innovations in the different thematic fields for both researchers and top business practitioners integrate a textbook approach with matching case studies for effective teaching and learning discuss multiple international perspectives in order to represent adequately the true global nature of operations, logistics and supply chains.
Decision science offers powerful insights and techniques that help people make better decisions to improve business and society. This new volume brings together the peer-reviewed papers that have been chosen as the "best of the best" by the field's leading organization, the Decision Sciences Institute. These papers, authored by respected decision science researchers and academics from around the world, will be presented at DSI's 45th Annual Meeting in Tampa, Florida in November 2014. The first book of papers ever assembled by DSI, this volume describes recent methods and approaches in the decision sciences, with a special focus on how accelerating technological innovation is driving change in the ways organizations and individuals make decisions. These papers offer actionable insights for decision-makers of all kinds, in business, public policy, non-profit organizations, and beyond. They also point to new research directions for academic researchers in decision science worldwide.
This book addresses decision making in reverse logistics, which concerns the integration of used and obsolete products back into the supply chain as valuable resources. It covers a wide range of aspects, related to distribution, production and inventory management, and supply chain management. For each topic, it highlights key managerial issues in real-life examples and explains which quantitative models are available for addressing them. By treating a broad range of issues in a unified way, the book offers the reader a comprehensive view on the field of reverse logistics.
The rapid technological development of new products, coupled with the growing consumer desire for the latest technology, has led to a new environmental problem: products that are discarded prematurely. But behind every problem lies an opportunity. Many of these products can be reprocessed, leading to savings in natural resources, energy, landfill space, and ultimately, time and money. Strategic Planning Models for Reverse and Closed-Loop Supply Chains addresses complex issues caused by the inherent uncertainty involved in every stage of a closed-loop supply chain. The book presents quantitative models for the many multifaceted issues faced by strategic planners of reverse and closed-loop supply chains amid the challenges of uncertainty in supply rate of used products, unknown condition of used products, and imperfect correlation between supply of used products and demand for reprocessed goods. The models proposed in this book provide understanding of how a particular issue can be effectively approached in a particular decision-making situation using a suitable quantitative technique or suitable combination of two or more quantitative techniques. This information then translates into decision-making strategies and guidance for reverse and closed-loop supply chain management.