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1.What are the main problems identified in the literature?
There are so many problems has been discussed which show the issue in closed loop supply chain. Closed loop supply chain is a process of supply chain management including the process of return. Pricing issues, profit maximization, information sharing, refurbished products, pricing decision, return policy and the management of inventory can be considered as the main issues which have been identified in the literature. Due to involvement of many costs the structure of price of certain things has been changed (Dekker, et. al., 2013). It would be the cause of pricing issues. Profit maximization is important for every organization because of long procedure the margin of products get decreased which raise the issue of profit minimization. The sharing of information can lead the issue of enhancing the cost. It has been analyzed that the closed loop supply chain management has to face various issues such as cost of technology, timeless information and many more. The operation of refurbished products has been comprised with high range of costs of recycling and remanufacturing of old products (Govindan et. al., 2014). The product which has not been refurbished is required for recycling and these requirements are increasing the cost of products in which the purchaser gets influenced and unable to afford the products in easy manner. Inventory management is considered as the main important factor in logistic management. The problem has been analyzed in the context of inventory management is lack of forecasting. Inaccurate inventory can be caused of financial issue to the company associated with the activities of supply cahin. This issue has adverse influence on the pricing policies and these issues majorly occur in retail store. Due to excess inventory of products, money can get stuck which can raise the issue of reducing the cost of products. Pricing decision is also analyzed in this literature which considered as the most important issue (Talaei, et. al., 2016). There can be so many reasons on which pricing issues can rely, if the range of products is high in comparison of others, people will not buy that is why it is important to keep the rate as per affordable condition of public.
2.What methodology is used in the closed loop supply chain?
Methodology is being used in the closed loop supply chain is primary and secondary. A primary data is fresh and come in use at first time. Secondary data has been used by someone else for study and process for statistical data. Primary data has been collected during research and it is collected through observation method and interview methods. To know the closed loop supply chain, observation method is being used which is commonly used to analyze the behavior and observation (Wirtz, et. al., 2016). Due to observation method it has been cleared that what is happening around the organization. This method is independent of respondents ‘willingness to respond and as such is relatively less demanding of active cooperation on the part of respondents. 10 manufacturers and 10 retailers are involved in interview on their own wish. Few questions were asked about the closed loop supply chain and their issues in which they are free to respond anything. To collect the secondary data, government publications, books, business magazines, academic publications, marketing and trade journals are being used. Therefore, it is useful to analyze which factors are affecting the closed loop supply chain. To start with, it is facilitating to recognize drivers that are affecting the strategy of closed loop supply chain and probably find corresponding interrelations which can influence them (Hahn Fox, Bryanna, and Wesley G. Jennings,2014).
3.What are the solutions for the problems identified?
There are many problems has been identified and every problems have solutions. In the issue of pricing, the solution can be sought out by using the various models and theory such as game theory and uncertainty theory models. Through becoming more sensitive to risk, manufacturer can attain a huge range of profit. Inventory can be done in perfect manner if the utilization of information sharing effectively. Information sharing regarding the description of products and the demand by customers can be more beneficial for management to reduce the ineffective cost. The risk of information sharing can be reduced by manufacturer of using information sharing in the favor of organization. It can help out to reduce the unnecessary inventory by 5 to 35. Organization works to attain the profit and profit maximization can be accomplished by the effective use of closed loop supply. Refurbished products have different cost and can be sold in different markets. It has been mentioned in the section of issues that the cost of products is increased if recycling is required (Özceylan et. al., 2014). The solution is that the products which have been returned by customers can be distinguished as per the quality and the range of products. Customers accept refurbished products depending on price, customer category and quality. Inventory management is another issue of closed loop supply chain that has adverse influence on the pricing of products due to excess inventory. It is necessary that the involvement of the process management in the inventory management. In this assignment model has been mentioned regarding excess inventory management which describes the creation of excess inventories in account of decision of managers of internal management that are affected by markets and suppliers. Excess inventory can be identified easily by analyzing the measurement system and control system. There are some methods that are involved in disposal such as modifying, discounting on sale, donating and bartering of services. Pricing decision has been considered as the most issue in above statement. It is important for the manufacturer to decide the price of products on marginal rate and before giving products to retailer the cost should be discussed between both parties (Devika, K., Ahmad Jafarian, and Vahid Nourbakhsh, 2014). This will enhance the reliability of product and the retailer can decide the rate of products before selling. The rate should be kept through considering competitors.
Wirtz, Bernd W., Adriano Pistoia, Sebastian Ullrich, and Vincent Göttel. "Business models: Origin, development and future research perspectives." Long Range Planning 49, no. 1 (2016): 36-54.
Hahn Fox, Bryanna, and Wesley G. Jennings. "How to write a methodology and results section for empirical research." Journal of Criminal Justice Education 25, no. 2 (2014): 137-156.
Dekker, Rommert, Moritz Fleischmann, Karl Inderfurth, and Luk N. van Wassenhove, eds. Reverse logistics: quantitative models for closed-loop supply chains. Springer Science & Business Media, 2013.
Talaei, Mohammad, Babak Farhang Moghaddam, Mir Saman Pishvaee, Ali Bozorgi-Amiri, and Sepideh Gholamnejad. "A robust fuzzy optimization model for carbon-efficient closed-loop supply chain network design problem: a numerical illustration in electronics industry." Journal of Cleaner Production113 (2016): 662-673.
Özceylan, Eren, Turan Paksoy, and Tolga Bekta?. "Modeling and optimizing the integrated problem of closed-loop supply chain network design and disassembly line balancing." Transportation research part E: logistics and transportation review 61 (2014): 142-164.
Devika, K., Ahmad Jafarian, and Vahid Nourbakhsh. "Designing a sustainable closed-loop supply chain network based on triple bottom line approach: A comparison of metaheuristics hybridization techniques." European Journal of Operational Research 235, no. 3 (2014): 594-615.
Govindan, Kannan, A. Jafarian, R. Khodaverdi, and K. Devika. "Two-echelon multiple-vehicle location–routing problem with time windows for optimization of sustainable supply chain network of perishable food." International Journal of Production Economics 152 (2014): 9-28.
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