Abstract: Transfer function models of a hybrid manufacturing/remanufacturing system are developed by using z transform,and the dynamic behaviors of traditional and hybrid systems are simulated in three different scenarios.The results show that the performance of a hybrid system is mainly determined by the discrepancy between the manufacturing lead-time and remanufacturing lead-time.Usually,a hybrid system is better than a traditional system if the lead-time discrepancy is smaller and worse than a traditional system if the lead-time discrepancy is larger.Moreover,the research indicates that the economic value of a hybrid system will be enhanced with the increase of production cost and disposal cost,or with the decrease of remanufacturing cost and collection cost.