Program

PROGRAM 1 – Foundations and the Future of Inventory Control

Professor: Prof. Chelsea White, Georgia Tech | H . Milton Stewart School of Industrial & Systems Engineering
Date: 16th – 19th January 2017

COURSE DESCRIPTION

The presentations will be based on foundational results of the finite-state, finite-action Markov decision process (MDP), the partially observed MDP (POMDP), the partially observed Markov game (POMG), and other models of sequential decision making under uncertainty and risk.

Inventory control is a key component of supply chain control. We will examine models of: (1) inventory state equations, (2) replenishment, both capacitated and un-capacitated, (3) demand, including iid, Markov-modulated, Bayesian updated, POMDP models, censored and uncensored, with emphasis on data-driven (machine) learning concurrent with replenishment decision-making, and (4) cost structures, both will zero and strictly positive reorder cost and how these models can be combined to form models of inventory control.

We will examine the optimality equations of these inventory control models and their structures that guarantee the existence of optimal policies that are base-stock policies when the reorder cost is zero and (s, S) when the reorder cost is strictly positive and examine these results under various models of demand. We then investigate the computational implications of these results.

We then will investigate cutting edge issues in inventory and supply chain control that may include: concurrent product and supply chain design, distributed manufacturing and inventory for fast fulfillment, and the supply chain and inventory control implications of additive manufacturing, transportable manufacturing capacity and transshipment, and bio-cellular therapy (personalized medicine).

 

PROGRAM 2 – Entrepreneurial / Innovative Operations & Supply Chains

Professor: Prof. Nitin Joglekar, Boston University | Questrom School of Business
Date: 9th – 12th January 2017

COURSE DESCRIPTION

Supply chain and operations management principles and theories need to be treated distinctly for two contexts:

  • Established firms in nascent and established market
  • Established firms in nascent and established market

This course will cover operations and supply chain management principles and theories for entrepreneurial firms working in nascent markets. The fundamental of OM/SCM is the same for both contexts however there are some significant differences in terms of designing and managing operations and supply chains. As the nascent market term implies the market boundary is still fluid and sheer amount of ambiguity is entailed in this market.

In OM/SCM field dealing with uncertainty has been the central point of designing and managing a resilient operations and supply chains although in nascent markets and fields the company deals with ambiguity which is distinct from uncertainty in a sense that the outcome interpretation would be widely different as opposed to uncertainty in which outcome is known but we are unable to predict the occurrence of the outcome. This intense course is going to provide a rather full treatment of the topic for OM/SCM scholars.

 

PROGRAM 3 – Mathematics of Facility Location: An introduction to Combinatorial Optimization

Professor: Prof. Mozart Menezes, Kedge Busines s School | Operations Management, Information System
Date: 10th – 17th January 2017

COURSE DESCRIPTION

This course will discuss Facility Location problems. in order to do so, we will need to go over topics commonly found on books about Graph Theory, Integer Programming, Combinatorial Optimization and Set Theory. It is not an attempt to be a comprehensive course but it will shed some light in many techniques and topics of combinatorics. A secondary objective, but no less important, is the practice of doing rigorous mathematical proofs.

Students should profit from this opportunity to learn and exercise mathematical techniques that will certainly bevery useful later in their academic lives. In its first part of the course we will cover the techniques related to facility location problems. That first part will consist of lectures. In the second part, we will choose papers to be presented by students. Those papers will be chosen such that there is a match between students interests and the topic of facility location.