中文摘要：

基于单一制造商和单一零售商构成的两级供应链和不确定需求，研究了制造商的退货政策。结果表明：当市场波动幅度较大且市场需求为高需求的可能性较大时，部分退货政策是制造商的最优退货政策；当市场波动幅度较大且市场需求为低需求的可能性较大，或市场波动幅度较小时，不接受退货和部分退货政策都是制造商的最优退货政策。

英文摘要：

The manufacturer＇s returns policy is studied based on a two-tier supply chain comprising a single manufacturer and a single retailer with demand uncertainty. It shows that, full returns policy is not the manufacturer＇s optimal policy. If both the range of market fluctuation and the probability of market demand being high are bigger, a partial return policy is the manufacturer＇ s optimal policy. If the range of market fluctuation and the probability of market demand being low are bigger, or the range of market fluctuation is lower, no returns and partial returns policy are both the manufacturer＇ s optimal policy.