Petrol is a kind of strategic natural resources. Provide legitimate transportation plans for the petrol secondary distribution are the key links to guarantee the petrol provision. If the total supply is insufficient, ...Petrol is a kind of strategic natural resources. Provide legitimate transportation plans for the petrol secondary distribution are the key links to guarantee the petrol provision. If the total supply is insufficient, some petrol stations can’t avoid shortage because their demands could not be met. So the shortage cost will appear. This paper studies the problem of how to arrange the transportation plan in order to minimize the total cost when the total volume of supply is insufficient. Given the storage volume, the sales rate and the unit shortage cost of every petrol station, considering the full loading constraints of the compartment vehicle, a mixed integer programming model for minimizing the total cost of petrol secondary distribution is established. A Lingo program is compiled for solving the model. Finally, simulation on an example has been done and a reasonable transportation plan is obtained. The model and algorithm in this paper can provide a theoretical basis for dispatching department to make transportation plan.展开更多
Cash position, held by mutual fund with purpose to satisfy investors′ redemption, will inevitably generate certain amount of cost. In this paper, the total cost caused by cash position is divided into opportunity cos...Cash position, held by mutual fund with purpose to satisfy investors′ redemption, will inevitably generate certain amount of cost. In this paper, the total cost caused by cash position is divided into opportunity cost and shortage cost, and a model is constructed to describe the relationship between total cost and cash position along with investors′ purchase and redemption, from which the formula of optimal cash position is deduced. Finally, the adjustment of optimal cash position in different market situations is discussed.展开更多
This paper investigates a risk-averse inventory model by balancing the expected profit and conditional value-at-risk （CVaR） in a newsvendor model setting. We find out that： i） The optimal order quantity is increas...This paper investigates a risk-averse inventory model by balancing the expected profit and conditional value-at-risk （CVaR） in a newsvendor model setting. We find out that： i） The optimal order quantity is increasing in the shortage cost for both the CVaR only criterion and the tradeoff objective, ii） For the case of zero shortage cost, the optimal order quantity to the CVaR criterion or tradeoff objective is increasing in the selling price, respectively. However, it may not be monotonic in the selling price when incorporating a substantial shortage cost. Moreover, it may be larger or less than the risk-neutral solution, iii） Under the tradeoff objective function, although the optimal order quantity for the model without shortage cost is increasing in the weight put on the expected profit, this property may not be true in general for the model with a substantial shortage cost. Some numerical examples are conducted to verify our results and observations.展开更多
文摘Petrol is a kind of strategic natural resources. Provide legitimate transportation plans for the petrol secondary distribution are the key links to guarantee the petrol provision. If the total supply is insufficient, some petrol stations can’t avoid shortage because their demands could not be met. So the shortage cost will appear. This paper studies the problem of how to arrange the transportation plan in order to minimize the total cost when the total volume of supply is insufficient. Given the storage volume, the sales rate and the unit shortage cost of every petrol station, considering the full loading constraints of the compartment vehicle, a mixed integer programming model for minimizing the total cost of petrol secondary distribution is established. A Lingo program is compiled for solving the model. Finally, simulation on an example has been done and a reasonable transportation plan is obtained. The model and algorithm in this paper can provide a theoretical basis for dispatching department to make transportation plan.
文摘Cash position, held by mutual fund with purpose to satisfy investors′ redemption, will inevitably generate certain amount of cost. In this paper, the total cost caused by cash position is divided into opportunity cost and shortage cost, and a model is constructed to describe the relationship between total cost and cash position along with investors′ purchase and redemption, from which the formula of optimal cash position is deduced. Finally, the adjustment of optimal cash position in different market situations is discussed.
基金This research was supported by the Social Science Foundation of the Ministry of Education of China under Grant No. 07JA630015, the National Natural Science Foundation of China under Grant Nos. 70901059 and 70901029, and the Fundamental Research Funds for the Central Universities under Grant No. 105-275171.
文摘This paper investigates a risk-averse inventory model by balancing the expected profit and conditional value-at-risk （CVaR） in a newsvendor model setting. We find out that： i） The optimal order quantity is increasing in the shortage cost for both the CVaR only criterion and the tradeoff objective, ii） For the case of zero shortage cost, the optimal order quantity to the CVaR criterion or tradeoff objective is increasing in the selling price, respectively. However, it may not be monotonic in the selling price when incorporating a substantial shortage cost. Moreover, it may be larger or less than the risk-neutral solution, iii） Under the tradeoff objective function, although the optimal order quantity for the model without shortage cost is increasing in the weight put on the expected profit, this property may not be true in general for the model with a substantial shortage cost. Some numerical examples are conducted to verify our results and observations.
