Importance of Closed Loop Supply Chain in the Product Recovery Processes such as Remanufacturing
Study of Closed Loop Supply Chain process is necessary for understanding the reuse, remanufacturing, recycling disposal and other product recovery processes for perfect decision making in regard to End of Life products. Managing the Closed Loop Supply Chain process is not an easy task for manufacturers and hence the study of product acquisition management, reverse logistics with inspection and deposition is important. Reverse Logistic collection for End ofLife product is described in this study through centralized and decentralized Reverse Supply Chain Models for optimum profit through proper product recovery process. Product Life Cycle is an important tool for guiding, understanding and predicting time sensitiveness and insensitiveness of products. For Closed Loop Supply Chain process, the study of Product Life Cycle and Product Cannibalization is necessary for arriving at optimum product recovery process resulting in