Prof. Jeannette Song
Duke University
Talk:
Supply Streams
Abstract:
A supply stream is a continuous version of a supply chain. It is like a series inventory system, but stock can be held at any point along a continuum, not just at discrete stages. We assume stationary parameters, and we focus on stationary echelon base-stock policies, which are known to be optimal for discrete stages. We show that the solutions to discrete-stage systems converge monotonically to a limit, as the distances between the stages become small, and this limit solves the continuous-stage system. We examine two such models in greater detail, one with Poisson demand and the other with Brownian-motion demand. For both models we develop tractable computational methods. We also find closed-form solutions for special cases. These are related to earlier results on first-passage times. (This is a joint work with P. Zipkin.)
Biography:
Professor Jeannette Song is a Professor and Area Coordinator in Operations Management of the Fuqua School of Business, Duke University, USA. Professor Song’s main research interests lie in the areas of supply chain management and operations management. She has published over 40 articles in leading academic journals such as Management Science and Operations Research. She is the recipient of several research grants from the U.S. National Science Foundation. In 2003, she was awarded Distinguished Overseas Young Scholar by the National Natural Science Foundation of China. In 2009, she was named the Chang Jiang Scholar (at Fudan Univeristy) by the Ministry of Education, China. Professor Song is the current President of the Manufacturing and Service Operations Management Society of INFORMS. She is also the Area Editor for Operations Research in the Manufacturing, Service and Supply Chain Operations area. In the past, she has served as a Department Editor for IIE Transactions as well as associate editors for Management Science, Manufacturing & Service Operations Management, and Naval Research Logistics. Professor Song received her Ph.D. from Columbia University, a M.S. degree from the Chinese Academy of Sciences, and a B.S. degree from Beijing Normal University. Before joining Duke University, she served on the faculties of University California, Irvine and Columbia University, and held a visiting position at the University of California, Berkeley. She was also a research fellow in the Institute of Applied Mathematics of the Chinese Academy of Sciences. In the past decade or so, she has been actively involved in advising Chinese companies and universities, and held various visiting appointments in Chinese universities.
