ISyE Seminar Series: Computing Robust Basestocks

Event Details
  • Date/Time:
    • Friday January 27, 2006
      10:00 am - 10:59 pm
  • Location: Executive Classroom - Main Bldg.
  • Phone:
  • URL:
  • Email:
  • Fee(s):
    N/A
  • Extras:
Contact
Barbara Christopher
Industrial and Systems Engineering
Contact Barbara Christopher
404.385.3102
Summaries

Summary Sentence: ISyE Seminar Series: Computing Robust Basestocks

Full Summary: ISyE Seminar Series: Computing Robust Basestocks

A basestock level for a buffer is a quantity s such that if x denotes
the amount of available inventory, the amount to order is max(0, s - x).
Basestock policies are extremely popular in supply-chain applications; under appropriate stochastic models of demand uncertainty, they are optimal. In this talk we discuss algorithms for computing optimal basestock levels under the robust optimization paradigm. Our algorithms are based on Benders' decomposition and scale well (under several models of demand uncertainty) with problem size, e.g. up to several hundreds of periods. We will also discuss the extension to safety stocks, to ambiguous demand uncertainty and to model superposition.

Additional Information

In Campus Calendar
No
Groups

School of Industrial and Systems Engineering (ISYE)

Invited Audience
No audiences were selected.
Categories
Seminar/Lecture/Colloquium
Keywords
No keywords were submitted.
Status
  • Created By: Barbara Christopher
  • Workflow Status: Published
  • Created On: Oct 8, 2010 - 7:36am
  • Last Updated: Oct 7, 2016 - 9:52pm