| Yehua Wei
2015年5月6日（周三）10.30-12.00
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【主讲】Yehua Wei,杜克大学助理教授
【时间】2015年5月6日（周三）10.30-12.00
Yehua Wei is an Assistant Professor in the Decision Sciences area at the Fuqua School of Business, Duke University. Prior to that, he received his PhD in Operations Research from Massachusetts Institute of Technology. His primary research interests lie in the area of operations research. More specifically, he is interested in the benefit and design of limited resource pooling, supply chain risk mitigation, and decision making under uncertainty. He was the 2nd place winner of the 2011 George Nicholson Paper Competition, the 2nd place winner of the 2013 CSAMSE Best Paper Competition, and the 2014 Daniel H. Wagner Prize for Excellence in Operations Research Practice. His publications have appeared journals such as Operations Research, Interfaces, and Harvard Business Review.
【摘要】We study a hybrid strategy that uses both process flexibility and inventory to mitigate risks of plant disruption. In this setting, a firm allocates inventory before disruption while facing demand uncertainties; demand is realized after disruption, and the firm schedules its production using process flexibility to minimize lost sales. This interplay between process flexibility and inventory is modeled as a two-stage robust optimization problem. We show that the robust optimization model can be formulated as a linear program and solved efficiently. Using analytical and numerical analysis, we study the impact of different process flexibility designs on the firm's inventory decisions. Our analysis reveals three important insights regarding the impact of process flexibility on (i) total inventory level; (ii) freedom in inventory placement; and (iii) inventory allocation strategy. In particular, we find that under designs with high degrees of process flexibility, the firm allocates more inventory to low demand variability products and less inventory to high demand variability products. This paper is joint work with David Simchi-Levi and He Wang. The paper can be downloaded from http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2433175 |
