TITLE: Practical Methods for LNG Inventory Routing

SPEAKER: Kevin Furman

ABSTRACT:

We introduce a practical problem for simultaneous optimization of ship routing and inventory management of LNG. Even though this ship inventory routing problem and the conventional Inventory Routing Problem (IRP) have similar structures, differences arise in various characteristics in the application specifically to the LNG industry.  We develop a discrete time optimization model and heuristic algorithms for solving annual delivery plans.  Computational results comparing various algorithmic approaches are presented.

Bio:

Kevin Furman has served in a leadership role on various programs and teams related to optimization and logistics research and software application development across multiple ExxonMobil affiliates.   He received his PhD in chemical engineering from the University of Illinois at Urbana-Champaign.  His 9 years at ExxonMobil have been focused on research, development and leadership in the areas of operations research and process systems engineering.  Kevin has been an active member within the research community and professional societies including INFORMS, Mathematical Optimization Society and AIChE.