Consumer value considerations: Impact of remanufactured products in the supply chain industry
The success of closed-loop supply chains depends on consumer acceptance of remanufactured products. However, little is known about research on how consumers value such remanufactured products. Thus, the objective of this study is to examine the consumer value considerations of remanufactured product...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Human Resource Management Academic Research Society (HRMARS)
2024
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| Online Access: | http://eprints.utem.edu.my/id/eprint/27470/2/Consumer%20value%20considerations%20Impact%20of%20remanufactured%20products%20in%20the%20supply%20chain%20industry.pdf http://eprints.utem.edu.my/id/eprint/27470/ https://hrmars.com/papers_submitted/21412/consumer-value-considerations-impact-of-remanufactured-products-in-the-supply-chain-industry.pdf |
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| Summary: | The success of closed-loop supply chains depends on consumer acceptance of remanufactured products. However, little is known about research on how consumers value such remanufactured products. Thus, the objective of this study is to examine the consumer value considerations of remanufactured products and to determine the most critical consumer value considerations that impact the adoption of remanufactured products in the supply chain industry. Consumer consideration of the value of remanufactured products was measured in terms of perceived benefits (environmental benefits and price advantages) and perceived sacrifice (perceived risks). Next, quantitative methods have been used in carrying out this research. Data were collected on a five-point Likert scale through a questionnaire in an online Google Form and distributed physically to respondents. The data was gathered from 196 respondents located in Malacca. Statistical Packages for Social Sciences (SPSS) and SmartPLS were used to analyze the data. According to the results of this study, there are moderately significant links between perceived benefits and perceived sacrifice with the adoption of remanufactured products. since the perceived benefit on price advantage has the highest correlation value, which is 0.647 and that means it is the most significant and moderate positive relationship between the independent variable and dependent variable. Meanwhile, the third independent variable is perceived sacrifice on perceived risks with the lowest value of 0.574 compared to the other two independent variables. In sum, according to the table above, all three independent variables have a positive and moderate relationship with the dependent variable as the results show a correlation coefficient (r). For future reference, this study is considered a significant contribution to researchers' and practitioners' better understanding of the role of consumers in closed-loop supply chains concerning the acceptance of remanufactured products. |
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