报告题目：Managing Stochastic Inventory Systems with Scarce Resources
报告嘉宾：Rui Chen (Rotman School of Management, University of Toronto, Canada)
时间：2016年1月4日（周一）下午14:15-
地点：管理学院第二会议室
摘要：
We consider the problem of managing production in a production-inventory system where a firm is subject to an allowance (a limit) on either the amount of input it can use or the amount of output it can produce over a specified compliance period. Examples of such settings are numerous and include those where limits are placed on the use of scare natural resources as input or on the amount of waste or harmful pollution generated by production. In each period, the firm makes two types of decisions. The first consists of deciding on how much to produce prior to the realization of demand. The second consists of deciding on how much of the realized demand to fulfill from on-hand inventory, if there is any, and how to either backorder or reject. We formulate the problem as a stochastic dynamic program with a two-dimensional state space: on-hand inventory level and remaining allowance. To simplify the analysis, we consider an extended state-space version of the problem and show that this modified version of the problem reduces to a one-dimensional problem. We then show that the structure of the optimal policy for this modified version is the same as the one for the original problem and has similar properties. In particular, we show that the optimal production policy is specified by dynamic thresholds that depend on both the on-hand inventory level and the remaining allowance but only via the sum of these two quantities and the optimal fulfillment policy is specified by dynamic thresholds that only depend on the remaining allowance post production. We also consider an extended version of the problem where the firm decides (purchases) the allowance amount at the beginning of the compliance period.
报告嘉宾简介：
Rui Chen is currently a postdoctoral fellow at Rotman School of Management, University of Toronto. He has a Ph.D. in Industrial Engineering from University of Minnesota and a B.Sc. in Computational Mathematics from Peking University. His research interests lie in supply chain management, production and inventory systems, queueing theory, and other applications of optimization and stochastic modeling.
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