Abstract

This study studied a more realistic closed-loop supply chain model, which is based on price difference between new and remanufactured products and it contains manufacturers, two recyclers and customers. In this model, assumed that new and remanufactured products have price difference, first we build a decision-making dynamic system model of the manufacturers, two recyclers and customers and then analyze the possibility of the existence of the system equilibrium points and their stability. Through numerical simulation, we use bifurcation diagram, Maximum Lyapunov index variation diagram and chaos attractor to estimate the complexity and chaos of the system comprehensively, observe the profit trends of the manufacturers and recyclers when system change from stability to chaos and analyze the system initial value sensitivity. The conclusion of the numerical simulation has a lot of guidance and reference value to the decision-makers in a closed-loop supply chain.

Keywords:

Complexity, closed-loop supply chain, price difference, remanufactured products,

References

Competing interests

The authors have no competing interests.

Open Access Policy

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Copyright

The authors have no competing interests.