Remanufacturing is a sustainable development strategy for recovering product value and extending original item lifetimes through collection, inspection, testing, and restoration activities. Remanufacturing activities are typically carried out on products that have been returned by consumers, and the increasingly high flow of products spontaneously returned by customers through marketing initiatives such as Money-Back Guarantee policies, false warranty claims, or end of life returns, is a growing source of products that can be easily remanufactured. In this paper, we develop a novel pricing model for a firm that produces and sells Generation 1 new products in the first period with a promise of Money-Back Guarantee on returned products regardless of reasons. Products returned in the first period can be remanufactured and sold as remanufactured products during the second period, alongside Generation 2 new products. The firm needs to determine the optimal pricing for its two generations of new products and its remanufactured products, based on demand derived from its customers' utility of purchasing either the new or the remanufactured products. We identify the firm's optimal production strategy. Numerical experiments are conducted to illustrate the key managerial insights derived from the model. This paper makes two contributions to the literature: 1) it links customer returns and closed loop supply chain management. Most studies on customer returns do not link remanufacturing with product returns, while most studies on closed loop supply chains assume that the source for remanufactured products is unlimited. 2) It is shown that although remanufacturing returned products may cannibalize new sales, it enhances overall sales, as the firm can differentiate prices for Generation 2 new products and remanufactured products in the second period to attract customers with different valuations on the products.

再制造是一种可持续发展战略，旨在通过收集，检查，测试和恢复活动来恢复产品价值并延长原始产品的使用寿命。再制造活动通常是在消费者退货的产品上进行的，并且通过诸如退款保证政策，虚假保修索赔或使用寿命终止退货之类的营销计划，客户自发退回的产品流量越来越高易于重新制造的产品来源。在本文中，我们为在第一阶段生产和销售第一代新产品的公司开发了一种新颖的定价模型，并承诺对归还产品的退款保证，无论其原因如何。在第一期退货的产品可以与第二代新产品一起在第二期进行再制造并作为再制造产品出售。公司需要根据客户购买新产品或再制造产品的效用得出的需求，为其两代新产品和再制造产品确定最佳定价。我们确定公司的最佳生产策略。进行了数值实验，以说明从该模型得出的关键管理见解。本文对文献做出了两点贡献：1）将客户退货与闭环供应链管理联系起来。大多数关于客户退货的研究并未将再制造与产品退货联系在一起，大多数关于闭环供应链的研究都假设再制造产品的来源是无限的。2）结果表明，尽管重新制造退货的产品可能蚕食新的销售量，但它可以提高整体销售量，因为公司可以在第二阶段区分第二代新产品和重新制造的产品的价格，以吸引对产品进行不同估价的客户。