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                                                     Seminar

             Department of Systems Engineering and Engineering Management
                                  The Chinese University of Hong Kong

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Title

:

Optimal Policy for an Inventory System under Convex Variable Ordering Cost

 

　

　

　

Speaker

:

Dr Miao Song

　

　

Department of Industrial and Manufacturing Systems Engineering

　

　

The University of Hong Kong

　

　

　

Date

:

March 4th, 2011 (Friday)

　

　

　

Time

:

4:30 p.m. - 5:30 p.m.

　

　

　

Venue

:

Room 513

　

　

William M.W. Mong Engineering Building

　

　

(Engineering Building Complex Phase 2)

　

　

CUHK

　

　

　

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Abstract:
　

We study the optimal policy for a periodic-review inventory system where the variable ordering cost is defined by a piece-wise linear convex function. The optimal policy is fully characterized for the case without the fixed ordering cost. For the system with a fixed ordering cost, we fully characterize the optimal policy of the model by introducing the notion of strong K,c,q-convexity. We also identify some sufficient conditions under
which the (s,S) policy is optimal


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Biography:
　

Dr Miao Song is an assistant professor in the Department of Industrial and Manufacturing Systems Engineering at the University of Hong Kong. She received her PhD from MIT in 2009, a Master's degree from National University of Singapore in 2002 and a Bachelor's degree from Xi'an Jiaotong University in 2001. Her research focuses on the applications of operations research in supply chain management and financial engineering.


************************* ALL ARE WELCOME ************************

　

　

　

Host

:

Prof. Sean X. Zhou

Tel

:

(852)2609 8336

Email

:

zhoux@se.cuhk.edu.hk

　

　

　

Enquiries

:

Prof. Nan Chen or Prof. Sean X. Zhou

　

:

Department of Systems Engineering and Engineering Management

　

　

CUHK

Website

:

http://www.se.cuhk.edu.hk/~seem5201

Email

:

seem5201@se.cuhk.edu.hk

　

　

　

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