Remanufacturing encompasses repairing, refurbishing, or overhauling an item in order to extend the life of and derive value from the original core unit. The decision to remanufacture occurs when the possibility of direct reuse is either no longer available (the product is in used condition) or not economical (there is no longer a market requirement for the product). If managed properly, this option can create lucrative business opportunities through recapturing otherwise lost value (Clendenin, 1997; Giuntini and Andel, 1995). Remanufacturing denotes improving the product from its current condition (e.g. end‐of‐life) to that of a condition acceptable for reuse. The upgraded condition can vary greatly, depending on the remanufacturing technique chosen and the strategic purpose of the upgrade.