Name
Abstract | ||
|---|---|---|
<div class="col-sm-9">
<h4>Abstract</h4>
<p>We examine the classical productional planning model, where
a capacity decision that has to be made at the beginning of
the planning horizon is the primary means to protect against
demand uncertainty. We provide a critique on the model focusing
on its profit maximizing objective, its underlying assumptions on
demand and related forecasting scheme, and its overall business
relevance (or the lack thereof); and we do so in the context of
data, risk and analytics. Specifically, we will consider minimizing
a shortfall risk relative to a profit target, with a demand model
that captures impacts from the financial market and can be
learned from data sets that are application specific. With a jointly
optimized production and hedging strategy, we show the new
model outperforms traditional approaches in risk mitigation as
well as in expected profit.</p>
<div><strong>DOI:</strong>10.1561/0200000086</div>
</div> |
Year | DOI | Venue |
|---|---|---|
2019 | 10.1561/0200000086 | Foundations and Trends in Technology, Information and Operations Management |
Keywords | Field | DocType |
Technology, Information and OM | Economics,Risk analysis (business),Production planning,Operations management,Process management | Journal |
Volume | Issue | ISSN |
12 | 2-3 | 1571-9545 |
Citations | PageRank | References |
0 | 0.34 | 0 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Liao Wang | 1 | 0 | 0.34 |
| David D. Yao | 2 | 861 | 140.51 |