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Reverse Logistics Network Modelling
Reverse logistics is for all operations related to the reuse of products and materials. It is "the process of moving good (economics), goods from their typical final destination for the purpose of capturing value, or proper disposal. Remanufacturing and Refurbishment (electronics), refurbishing activities also may be included in the definition of reverse logistics."Hawks, Karen"What is Reverse Logistics?" ''Reverse Logistics Magazine'', Winter/Spring 2006. In order to model reverse logistics network from an economics point of view, the following simplified reverse logistics system has to be set. In this model, the products are gathered from the consumers and transferred back to the producers, hence the direction of the flow in the distribution supply chain is reversed and the model is expanded with the recovery centre. First of all, the used products are collected from the consumers and moved to the recovery centre, where the condition of the products are examined according to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Good (economics)
In economics, goods are anything that is good, usually in the sense that it provides well-being, welfare or utility to someone.Alan V. Deardorff, 2006. ''Terms Of Trade: Glossary of International Economics'', World Scientific. Online version: Deardorffs' Glossary of International Economics"good" an Goods can be contrasted with bads, i.e. things that provide negative value for users, like chore division, chores or waste. A bad lowers a consumer's overall welfare. Economics focuses on the study of economic goods, i.e. goods that are scarce; in other words, producing the good requires expending effort or resources. Economic goods contrast with free goods such as air, for which there is an unlimited supply.Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill. Goods are the result of the Secondary sector of the economy which involves the transformation of raw materials or intermediate goods into goods. Utility and characteristics of goods The c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
