Tuesday, 14:15 - 14:40 h, Room: MA 376

 

Jörg Rambau
The stochastic guaranteed service model

Coauthor: Konrad Schade

 

Abstract:
Order policies are crucial in supply chain management. This talk is about the stochastic-guaranteed-service-model (SGSM) and its use in finding cost-minimizing orderpoints within a multi-echelon inventory system applying the (s,S)-strategy. The guaranteed-service-model (GSM) provides such orderpoints under the assumption of reliable internal lead times and bounded total demand. We introduce the SGSM - a two-stage stochastic MILP - that extends the GSM and enables recourse actions. To solve the SGSM we generate scenarios with the sample average approximation. We reduce the number of scenarios considered in the solution algorithm through a scenario reduction technique, the fast forward selection. We get the best results using an asymmetric distance based on the objective function of the SGSM we want to solve between the scenarios.
Simulation based on real world data of a large german car manufacturer show the improvement of applying the SGSM. The results are compared to the GSM, a decentral solution without optimization within the network and another stochastic optimization method.

 

Talk 3 of the invited session Tue.2.MA 376
"Computational aspects of stochastic integer programming for large-scale and/or real-world problems" [...]
Cluster 22
"Stochastic optimization" [...]

 

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