【公开学术报告】Inventory Routing Problem under Uncertainty

Inventory Routing Problem under Uncertainty

Guest Speaker:    Dr. Zheng CUI (The Hong Kong University of Science and Technology)

Date & Time:       9:30-11:00, Fri. 19th, Nov. 2021

Zoom Meeting:  86073551424（Password: 814780）

Click Link:           https://us02web.zoom.us/j/86073551424

ABSTRACT

We study a stochastic inventory routing problem with a finite horizon. The supplier acts as a central planner who determines replenishment quantities and the times and routes for delivery to all retailers. We allow ambiguity in the probability distribution of each retailer's uncertain demand. Adopting a service-level viewpoint, we minimize the risk of uncertain inventory levels violating a pre-specified acceptable range. We quantify that risk using a novel decision criterion, the Service Violation Index, that accounts for how often and how severely the inventory requirement is violated. The solutions proposed here are adaptive in that they vary with the realization of uncertain demand. We provide algorithms to solve the problem exactly and then demonstrate the superiority of our solutions by comparing them with several benchmarks.

Biography:

Zheng Cui is a postdoctoral fellow of the Department of Industrial Engineering and Decision Analytics, The Hong Kong University of Science and Technology. He received a Ph.D. degree from the Department of Systems Engineering & Engineering Management, The Chinese University of Hong Kong in 2018. His research interests lie in data-driven and target-based decision-making under uncertainty with applications in operations management.