Due to rejecting order in a single supply chain for lack of adequate capacity, a multi-chain system is introduced to avoid this potential operational risk. Based on four categories of order: direct order, reserve orde...Due to rejecting order in a single supply chain for lack of adequate capacity, a multi-chain system is introduced to avoid this potential operational risk. Based on four categories of order: direct order, reserve order, chain-to-chain order and rejected order, the framework of order selection in multi-chain system(MCS) is presented, and the model of order selection and planning under chain-to-chain collaboration is formulated. Then, the Lagrange algorithm is used to solve this problem through Lagrange relaxation and decomposition. Finally, numerical study show that opportunity cost of rejecting reserve order and production cost of chain-to-chain order have significant impacts on order selection, and there exists a critical threshold value of the combination of two factors. Through the combination, the multi-chain system can obtain the optimal status, meanwhile manager can utilize this to realize different strategies in MCS.展开更多
When decisions are based on empirical observations,a trade-off arises between flexibility of the decision and ability to generalize to new situations.In this paper,we focus on decisions that are obtained by the empiri...When decisions are based on empirical observations,a trade-off arises between flexibility of the decision and ability to generalize to new situations.In this paper,we focus on decisions that are obtained by the empirical minimization of the Conditional Value-at-Risk(CVa R)and argue that in CVa R the trade-off between flexibility and generalization can be understood on the ground of theoretical results under very general assumptions on the system that generates the observations.The results have implications on topics related to order and structure selection in various applications where the CVa R risk-measure is used.A study on a portfolio optimization problem with real data demonstrates our results.展开更多
基金Supported by the National Natural Science Foundation of China(71472143,71171152)the Ministry of Education of China Program(15YJA630035)
文摘Due to rejecting order in a single supply chain for lack of adequate capacity, a multi-chain system is introduced to avoid this potential operational risk. Based on four categories of order: direct order, reserve order, chain-to-chain order and rejected order, the framework of order selection in multi-chain system(MCS) is presented, and the model of order selection and planning under chain-to-chain collaboration is formulated. Then, the Lagrange algorithm is used to solve this problem through Lagrange relaxation and decomposition. Finally, numerical study show that opportunity cost of rejecting reserve order and production cost of chain-to-chain order have significant impacts on order selection, and there exists a critical threshold value of the combination of two factors. Through the combination, the multi-chain system can obtain the optimal status, meanwhile manager can utilize this to realize different strategies in MCS.
基金partially Regione Lombardia under Grant MoSoRe E81B19000840007。
文摘When decisions are based on empirical observations,a trade-off arises between flexibility of the decision and ability to generalize to new situations.In this paper,we focus on decisions that are obtained by the empirical minimization of the Conditional Value-at-Risk(CVa R)and argue that in CVa R the trade-off between flexibility and generalization can be understood on the ground of theoretical results under very general assumptions on the system that generates the observations.The results have implications on topics related to order and structure selection in various applications where the CVa R risk-measure is used.A study on a portfolio optimization problem with real data demonstrates our results.
