Operations Academic Seminarhttps://weatherhead.case.edu/events/2018/03/23/finding-optimal-base-stock-policy-for-perishable-inventory-systems-with-demand-learning
Perishable inventory system is an important class of stochastic inventory system that is notoriously difficult to analyze and solve, and the best base-stock policy has been shown both theoretically and numerically to perform nearly optimal. We develop non-parametric learning algorithm that finds the best base-stock when demand distribution is not known a priori, and show that the algorithms achieve the best possible convergence rates. Numerical results demonstrate that the learning algorithm performs very well. This is a joint work with Huanan Zhang and Cong Shi.
Dept. Administrator. Dept of Operations
||Friday, March 23, 2018 from 1 p.m. to 2:30 p.m.
||Peter B. Lewis Building, 418
11119 Bellflower Road
Cleveland, OH 44106-7235
||Speaker(s): Xiulu Chao, Univ. of Michigan
Interested in learning more about Weatherhead programs? Request more information or apply now, or register for one of over 70 open enrollment courses through Executive Education.
Weatherhead School of Management at Case Western Reserve University cultivates creativity, innovation, and purpose-driven leadership to design a better world.