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Optimizing the Collections Process in Consumer Credit
Author(s) -
De Almeida Filho Adiel T.,
Mues Christophe,
Thomas Lyn C.
Publication year - 2010
Publication title -
production and operations management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.279
H-Index - 110
eISSN - 1937-5956
pISSN - 1059-1478
DOI - 10.1111/j.1937-5956.2010.01152.x
Subject(s) - process (computing) , computer science , operations research , business , operating system , engineering
This paper builds a dynamic programming model to optimize the collections process in consumer credit. It determines which collections actions should be undertaken and how long they should be performed, including theoretical results about the form of the optimal policy under certain conditions. Finally, a case study is described based on data from the collections department of a European bank.