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             Department of Decisions, Operations and Technology

                                                    &

    Department of Systems Engineering and Engineering Management

                                           Seminar (OM)

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Date: Monday, August 14, 2023, 2:30pm HKT

Venue: Room 403, Yasumoto International Academic Park, CUHK

Title: Inventory Models with Large Lead Times

Speaker: Prof. Xin CHEN, James. C. Edenfield Chair and Professor, Georgia Institute of Technology, United States

Abstract:

Recent years witness significant supply chain disruptions due to the Covid-19 pandemic, leading to very large supply lead times for many firms.  To address the resulting challenge, we study a broad class of inventory models with large lead times and provide conditions under which open-loop policies for ordering, i.e., ordering decisions ignoring real time inventory information, are asymptotically optimal as lead times grow large.  Our results extend beyond constant-order policies in the inventory literature and can be extended to other operations models in which the effects of certain controls have long delays.

Everyone is welcome to attend the talk!

SEEM-5201 Website: http://seminar.se.cuhk.edu.hk

Email: seem5201@se.cuhk.edu.hk