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http://dspace.mediu.edu.my:8181/xmlui/handle/1721.1/3893| Title: | A Robust Optimization Approach to Supply Chain Management |
| Keywords: | robust optimization approach supply chain management stochastic demand discrete time |
| Issue Date: | 9-Oct-2013 |
| Description: | We propose a general methodology based on robust optimization to address the problem of optimally controlling a supply chain subject to stochastic demand in discrete time. The attractive features of the proposed approach are: (a) It incorporates a wide variety of phenomena, including demands that are not identically distributed over time and capacity on the echelons and links; (b) it uses very little information on the demand distributions; (c) it leads to qualititatively similar optimal policies (basestock policies) as in dynamic programming; (d) it is numerically tractable for large scale supply chain problems even in networks, where dynamic programming methods face serious dimensionality problems; (e) in preliminary computation experiments, it often outperforms dynamic programming based solutions for a wide range of parameters. Singapore-MIT Alliance (SMA) |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/1721 |
| Other Identifiers: | http://hdl.handle.net/1721.1/3893 |
| Appears in Collections: | MIT Items |
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