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[2016-03-28]Optimal Policies for Capacitated Multi-Echelon Inventory Systems

主   办:工业工程与管理系
报告人:Professor Yimin Yu
时   间:3月28日(周一)上午10:00
地   点:方正大厦512会议室
主持人:宋洁 特聘研究员

报告内容摘要:

In this paper, we analyze the structure of optimal policies for capacitated serial inventory systems. Under a finite horizon setting, we show that a multi-tier generalized modified echelon base stock (GMEBS) policy is optimal for systems with capacity constraints: there are multiple sets of target echelon base stock levels and the starting echelon inventory state determines which set is optimal. We do so by proposing the notion of weak decomposability and subsequently showing that the value function is weakly decomposable. With these results, we not only fully characterize the structure of the optimal policy of such a problem, but also dramatically reduce the computational complexity in obtaining the optimal policy. Finally, we extend our results to systems with fixed lead times and Markov modulated demands.

报告人简介:

Yimin Yu is an assistant professor of Management Sciences at City University of Hong Kong. He received his PhD degree in Industrial Engineering from the University of Minnesota, Twin Cities in 2009. He conducts research in different areas of operations management, with an emphasis on inventory management, revenue management, and the marketing-operations interface. His papers have been published in journals such as Marketing Science, Production and Operations Management, etc.
 
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