A Stochastic Dynamic Programming Approach to Revenue Management in a Make-to-Stock Production System - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Stochastic Dynamic Programming Approach to Revenue Management in a Make-to-Stock Production System write by Rainer Quante. This book was released on 2010. A Stochastic Dynamic Programming Approach to Revenue Management in a Make-to-Stock Production System available in PDF, EPUB and Kindle. In this paper, we consider a make-to-stock production system with known exogenous replenishments and multiple customer classes. The objective is to maximize profit over the planning horizon by deciding whether to accept or reject a given order, in anticipation of more profitable future orders. What distinguishes this setup from classical airline revenue management problems is the explicit consideration of past and future replenishments and the integration of inventory holding and backlogging costs. If stock is on-hand, orders can be fulfilled immediately, backlogged or rejected. In shortage situations, orders can be either rejected or backlogged to be fulfilled from future arriving supply. The described decision problem occurs in many practical settings, notably in make-to-stock production systems, in which production planning is performed on a mid-term level, based on aggregated demand forecasts. In the short term, acceptance decisions about incoming orders are then made according to stock on-hand and scheduled production quantities. We model this problem as a stochastic dynamic program and characterize its optimal policy. It turns out that the optimal fulfillment policy has a relatively simple structure and is easy to implement. We evaluate this policy numerically and find that it systematically outperforms common current fulfillment policies, such as first-come-first-served and deterministic optimization.
Revenue Management in a Multi-stage Make-to-order Production System
Revenue Management in a Multi-stage Make-to-order Production System - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Revenue Management in a Multi-stage Make-to-order Production System write by Hendrik Guhlich. This book was released on 2015. Revenue Management in a Multi-stage Make-to-order Production System available in PDF, EPUB and Kindle.
Forestry Applications
Forestry Applications - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Forestry Applications write by Gregory Paradis. This book was released on 2018-10-08. Forestry Applications available in PDF, EPUB and Kindle. In 2012, a Forestry Special Interest Group (FSIG) was founded within the Canadian Operational Research Society (CORS). Besides a general commitment to promoting the application of operational research (OR) to forest management and forest products industry problems, the FSIG has two concrete mandates: organizing the forestry cluster at the annual CORS conference, and managing the editorial process for forestry-themed special issues of INFOR. The FSIG has been very successful in the first of these two mandates, with record attendance at the forestry cluster over the last four years, hosting of several special sessions, financial and in-kind support from the NSERC Strategic Network on Value Chain Optimization (VCO), and the inauguration of the David Martell Student Paper Prize in Forestry (DMSPPF). This is the first compilation of forestry-themed papers since the inauguration of the CORS FSIG. The six pieces selected for the special issue, now published as a book, feature applications of OR to a wide range of forest management and forest products industry contexts, including supply-chain planning, lumber production planning, demand-driven harvest and transportation planning, and fire-aware wood supply planning. This book was originally published as a special issue of the INFOR: Information Systems and Operational Research journal.
Management of Stochastic Demand in Make-to-Stock Manufacturing
Management of Stochastic Demand in Make-to-Stock Manufacturing - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Management of Stochastic Demand in Make-to-Stock Manufacturing write by Rainer Quante. This book was released on 2009. Management of Stochastic Demand in Make-to-Stock Manufacturing available in PDF, EPUB and Kindle. Up to now, demand fulfillment in make-to-stock manufacturing is usually handled by advanced planning systems. Orders are fulfilled on the basis of simple rules or deterministic planning approaches not taking into account demand fluctuations. The consideration of different customer classes as it is often done today requires more sophisticated approaches explicitly considering stochastic influences. This book reviews current literature, presents a framework that addresses revenue management and demand fulfillment at once and introduces new stochastic approaches for demand fulfillment in make-to-stock manufacturing based on the ideas of the revenue management literature.
Demand Fulfillment in Multi-Stage Customer Hierarchies
Demand Fulfillment in Multi-Stage Customer Hierarchies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Demand Fulfillment in Multi-Stage Customer Hierarchies write by Sebastian Vogel. This book was released on 2013-08-04. Demand Fulfillment in Multi-Stage Customer Hierarchies available in PDF, EPUB and Kindle. This book extends the existing demand fulfillment research by considering multi-stage customer hierarchies. Basis is a two-step allocation and consumption planning procedure. In the existing literature, it is assumed that the customer segments are ‘flat’. This means they can be sorted easily during the allocation planning step by a single central planner in decreasing order of profitability. In the subsequent consumption planning phase, if order requests differ in terms of profit margins, companies can render prioritized service in real time to their most profitable customers by consuming the reserved quotas.
