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Author: Ahmet Harun Kuyumcu
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Ahmet Harun Kuyumcu
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: J. Christian Lang
Publisher: Springer Science & Business Media
ISBN: 3642042473
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
Quantitativeapproachesforsolvingproductionplanningandinventorymanagement problems in industry have gained growing importance in the past years. Due to the increasinguse of AdvancedPlanningSystems, a widespreadpracticalapplicationof the sophisticated optimization models and algorithms developed by the Production Management and Operations Research community now seem within reach. The possibility that productscan be replaced by certain substitute productsexists in various application areas of production planning and inventory management. Substitutions can be useful for a number of reasons, among others to circ- vent production and supply bottlenecks and disruptions, increase the service level, reduce setup costs and times, and lower inventories and thereby decrease ca- tal lockup. Considering the current trend in industry towards shorter product life cycles and greater product variety, the importance of substitutions appears likely to grow. Closely related to substitutions are ?exible bills-of-materials and recipes in multi-level production systems. However, so far, the aspect of substitutions has not attracted much attention in academic literature. Existing lot-sizing models matching complex requirements of industrial optimization problems (e.g., constrained capacities, sequence-dependent setups, multiple resources) such as the Capacitated Lot-Sizing Problem with Sequence-Dependent Setups (CLSD) and the General Lot-Sizing and Scheduling Problem for Multiple Production Stages (GLSPMS) do not feature in substitution options.
Author: George Q. Huang
Publisher: Springer
ISBN: 9811334021
Category : Business & Economics
Languages : en
Pages : 725
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Book Description
This book records the new research findings and development in the field of industrial engineering, and it will serve as the guidebook for the potential development in industrial engineering and smart manufacturing. It gathers the accepted papers from the 24th International conference on Industrial Engineering and Engineering Management held at Central South University of Forestry and Technology in Changsha during May 19-20, 2018. The aim of this conference was to provide a high-level international forum for experts, scholars and entrepreneurs at home and abroad to present the recent advances, new techniques and application, to promote discussion and interaction among academics, researchers and professionals to promote the developments and applications of the related theories and technologies in universities and enterprises, and to establish business or research relations to find global partners for future collaboration in the field of Industrial Engineering. It addresses diverse themes in smart manufacturing, artificial intelligence, ergonomics, simulation and modeling, quality and reliability, logistics engineering, data mining and other related fields. This timely book summarizes and promotes the latest achievements in the field of industrial engineering and related fields over the past year, proposing prospects and vision for the further development.
Author: Özalp Özer
Publisher: Oxford University Press (UK)
ISBN: 0199543178
Category : Business & Economics
Languages : en
Pages : 977
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Book Description
A definitive reference to the theory and practice of pricing across industries, environments, and methodologies. It covers all major areas of pricing including, pricing fundamentals, pricing tactics, and pricing management.
Author: Jing-Sheng Jeannette Song
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper studies dynamic inventory and pricing decisions for a set of substitutable products over a finite planning horizon with full backlogging. The objective is to maximize the total expected discounted profit. We present a general stochastic, price-dependent demand model that unifies many commonly used demand models in the literature. The original formulation is not jointly concave in the decision variables and is therefore intractable. One key observation is that the problem becomes jointly concave if we work with the inverse of the price vector -- the market share vector. With this variable transformation, we are able to characterize the optimal policy and develop algorithms to compute it. In each period, the optimal policy first identifies a set of the products that are overstocked and hence need no replenishment and then specifies the optimal order-up-to levels for under-stocked products and the optimal market shares (and prices) for all products, both of which are functions of the overstocking levels. We further establish conditions under which the optimal policy demonstrates certain monotonicity property that can greatly enhance computation. Finally, we develop several computationally efficient heuristic policies and numerically compare them and discuss the interplay of pricing and inventory decisions.
Author: Irfan Ali
Publisher: CRC Press
ISBN: 1000404722
Category : Business & Economics
Languages : en
Pages : 434
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Book Description
The book provides insights in the decision-making for implementing strategies in various spheres of real-world issues. It integrates optimal policies in various decisionmaking problems and serves as a reference for researchers and industrial practitioners. Furthermore, the book provides sound knowledge of modelling of real-world problems and solution procedure using the various optimisation and statistical techniques for making optimal decisions. The book is meant for teachers, students, researchers and industrialists who are working in the field of materials science, especially operations research and applied statistics.
Author: Nita H. Shah
Publisher: Springer Nature
ISBN: 9811396981
Category : Business & Economics
Languages : en
Pages : 470
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Book Description
This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.
Author: Wuke Zhang
Publisher: Frontiers Media SA
ISBN: 2832516351
Category : Science
Languages : en
Pages : 319
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Book Description
Author: Olga L. Ortiz
Publisher:
ISBN:
Category : Decision making
Languages : en
Pages :
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Book Description
This dissertation focuses on issues associated with the value of information in models of sequential decision making under uncertainty. All of these issues are motivated by inventory management problems. First, we study the effect of the accuracy of inventory counts on system performance when using a zero-memory controller in an inventory system that is modeled as a partially observed Markov decision process (POMDP). We derive conditions for which improving the accuracy of inventory counts will either (i) improve system performance, (ii) degrade system performance or (iii) will not affect system performance. With a computational study, we determine the range of profitability impacts that result from inaccurate inventory counts when using reasonable zero-memory control policies. Second, we assess the value of demand observation quality in an inventory system with Markovian demand and lost sales. Again, the POMDP serves as a problem model, and we develop computationally tractable suboptimal algorithms to enable the computation of effective lower bounds on system profitability when demand observations are noise-corrupted. We then extend our results toconsider the effects that product substitution has on system performance. We show that systems with low demand variability, high holding cost levels, and high levels of substitution benefit more from demand bservability than systems with high demand variability, low holding cost levels, and low levels of substitution. Third, to enhance our understanding of sequential inventory control with substitutable products, we analyze a two-item inventory problem with known deterministic primary demand, but stochastic one-way substitution. We model this problem as a MDP and show that a decision rule that minimizes the single period cost function, when applied at every decision epoch over the infinite horizon, is an optimal policy for the infinite horizon problem. A definition of increased substitutability is presented, and it is shown that increased substitutability never increases optimal expected total discounted cost.
Author: Guillermo Gallego
Publisher: Springer
ISBN: 1493996061
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
“There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
