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Location of a distribution center for a perishable product
Drezner, Zvi; Scott, Carlton - In: Computational Statistics 78 (2013) 3, pp. 301-314
A model that combines an inventory and location decision is presented, analyzed and solved. In particular, we consider a single distribution center location that serves a finite number of sales outlets for a perishable product. The total cost to be minimized, consists of the transportation costs...
Persistent link: https://www.econbiz.de/10010847890
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Location of a distribution center for a perishable product
Drezner, Zvi; Scott, Carlton - In: Mathematical Methods of Operations Research 78 (2013) 3, pp. 301-314
A model that combines an inventory and location decision is presented, analyzed and solved. In particular, we consider a single distribution center location that serves a finite number of sales outlets for a perishable product. The total cost to be minimized, consists of the transportation costs...
Persistent link: https://www.econbiz.de/10010950275
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Optimization of blood supply chain with shortened shelf lives and ABO compatibility
Duan, Qinglin; Liao, T. Warren - In: International Journal of Production Economics 153 (2014) C, pp. 113-129
In clinical practice, red blood cells (RBCs) have a maximal shelf life (MSL) of 42 days. Recent studies suggest managing RBC inventory with a more restrictive MSL. To this end, a new simulation optimization (SO) framework is proposed for blood supply chain inventory management with ABO blood...
Persistent link: https://www.econbiz.de/10010776681
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Computing globally optimal (s,S,T) inventory policies
Lagodimos, A.G.; Christou, I.T.; Skouri, K. - In: Omega 40 (2012) 5, pp. 660-671
We consider a single-echelon inventory installation under the (s,S,T) periodic review ordering policy. Demand is stationary random and, when unsatisfied, is backordered. Under a standard cost structure, we seek to minimize total average cost in all three policy variables; namely, the reorder...
Persistent link: https://www.econbiz.de/10010573969
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A new age-based replenishment policy for supply chain inventory optimization of highly perishable products
Duan, Qinglin; Liao, T. Warren - In: International Journal of Production Economics 145 (2013) 2, pp. 658-671
A simulation optimization framework is proposed for supply chain inventory management of highly perishable products. A new replenishment policy based on old inventory ratio is developed, hence called OIR policy. It is an age-based policy using only partial age information to measure the...
Persistent link: https://www.econbiz.de/10011043370
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A new method for robustness in rolling horizon planning
Bredström, D.; Flisberg, P.; Rönnqvist, M. - In: International Journal of Production Economics 143 (2013) 1, pp. 41-52
In this paper, we describe a new method to solve Linear Programming (LP) problems which have uncertain right-hand-sides. We apply this to planning problems where a rolling planning horizon is used and where robustness is important. In particular, we are interested in applications where the...
Persistent link: https://www.econbiz.de/10011043282
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Robust Mean-Conditional Value at Risk Portfolio Optimization
Piri, F.; Salahi, M.; Mehrdoust, F. - In: International Journal of Economic Sciences 2014 (2014) 1, pp. 2-11
maximize return while managing risk. Risk and return are quantities that are used as input parameters for the optimal …-Conditional Value at Risk (M-CVaR) portfolio selection problem under the estimation risk in mean return for both interval and …
Persistent link: https://www.econbiz.de/10011195095
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Tractable Counterparts of Distributionally Robust Constraints on Risk Measures
Den Hertog, Dick; Melenberg, Bertrand; Postek, K.S. - Tilburg University, Center for Economic Research - 2014
In this paper we study distributionally robust constraints on risk measures (such<br/>as standard deviation less the … mean, Conditional Value-at-Risk, Entropic Value-at-Risk) of decision-dependent random variables. The uncertainty sets for … counterpart can be split into two parts: one corresponding to the risk measure and the other to the uncertainty set. We also show …
Persistent link: https://www.econbiz.de/10011144445
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A Coordinated Production Planning Model with Capacity Expansion and Inventory Management
Rajagopalan, Sampath; Swaminathan, Jayashankar M. - In: Management Science 47 (2001) 11, pp. 1562-1580
Motivated by a problem faced by a large manufacturer of a consumer product, we explore the interaction between production planning and capacity acquisition decisions in environments with demand growth. We study a firm producing multiple items in a multiperiod environment where demand for items...
Persistent link: https://www.econbiz.de/10009208838
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Planning models for floriculture operations
Ruiz-Torres, Alex J.; Villalobos, J. Rene; … - In: International Journal of Applied Management Science 4 (2012) 2, pp. 148-164
This paper proposes planning models that will assist a flower grower with the land and flower variety allocation decisions in such a way that the revenues (or profits) are maximised over a given planning period. In particular, this paper presents models where the mix of flowers is modified...
Persistent link: https://www.econbiz.de/10010816715