报告信息
主讲人 刘恒宇 北京交通大学经济管理学院博士
主持人 洪江涛副教授纽约国际588888线路检测中心国际经贸学院
时 间 2019年3月15日(星期五) 09:30-11:00
地 点 纽约国际588888线路检测中心信息楼336室
主讲人简介
报告摘要(Abstract)
Consider the multi-period production-inventory problem where a manufacturer purchases and processes a raw material into two products in fixed proportions when facing uncertain demands. In each period, the manufacturer first reviews the on-hand inventories of the products and then decides the purchase/processing quantity of the raw material. After processing the raw material into the end products, the demands of the two products are realized and satisfied by the available inventories. Any leftover inventories are carried to the next period while the unsatisfied demands are backordered. By proving the concavity and submodularity of the expected profit-to-go function, we establish that the one-dimensional produce-up-to policy is optimal. We also study the case where the raw material is seasonal and the manufacturer has only one chance to purchase. Modelling it as a dynamic program, we establish that the one-dimensional produce-down-to policy is optimal. Finally, we conduct numerical studies to examine the impacts of supply-demand balance and price fluctuation on the optimal policy, and derive managerial insights from the analytical findings.