Impact of outbound temporal shipment consolidation on the structure of optimal inventory policies скачать в хорошем качестве

Impact of outbound temporal shipment consolidation on the structure of optimal inventory policies

Abstract: We revisit and generalize Scarf’s seminal stochastic dynamic inventory model to consider explicit efforts and costs associated with temporal shipment consolidation of outbound deliveries. The resulting generalized model has widespread applications in contemporary distribution settings where the supplier is responsible to offer outbound delivery services and cover the corresponding costs. In these settings, employing a temporal shipment consolidation strategy allows the supplier to hold smaller orders and to release them in a combined shipment to realize transportation scale economies. We formulate the problem via a stochastic dynamic programming approach and examine the optimal joint policy prescribing the vendor's inbound replenishment and outbound dispatch quantities in successive periods, simultaneously. We prove that the structure of the exact optimal policies by introducing of a new class of functions extending the methodologically oriented literature in K-convexity and contributing to generalized convexity theory. Bio: Sila Çetinkaya is Chair and Professor of EMIS in the SMU Lyle School of Engineering. She holds courtesy appointments with ITOM in the SMU Cox School of Business and with Internal Medicine in the UT Southwestern Medical Center. Çetinkaya’s research interests include supply chain and healthcare operations, stochastic optimal control theory, and applied probability. Her publications appeared in reputable outlets of industrial engineering and management science including Operations Research, Management Science, Interfaces, Production and Operations Management, IISE Transactions, and Naval Research Logistics, among others. Her research and teaching activities have been funded by multiple government and industry grants. Her early career accomplishments were recognized by NSF CAREER Award in 2001 and IISE Outstanding Young Industrial Engineer Award in 2003. Çetinkaya was named IISE Fellow in 2012 for professional leadership and outstanding contributions to industrial engineering. She is a department editor of IISE Transactions and an associate editor of Naval Research Logistics. Çetinkaya joined SMU in 2014 from TAMU—after 17 years of service—where she was Professor of Industrial and Systems Engineering. She obtained her Ph.D. in Management Science and Systems in 1996 from McMaster University in Canada.