4.7 Article

Optimizing stochastic production-inventory systems: A heuristic based on simulation and regression analysis

Journal

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
Volume 213, Issue 1, Pages 107-118

Publisher

ELSEVIER SCIENCE BV
DOI: 10.1016/j.ejor.2011.02.031

Keywords

Production; Inventory; Simulation; Regression analysis; Supply-chain management

Ask authors/readers for more resources

We present a heuristic optimization method for stochastic production-inventory systems that defy analytical modelling and optimization. The proposed heuristic takes advantage of simulation while at the same time minimizes the impact of the dimensionality curse by using regression analysis. The heuristic was developed and tested for an oil and gas company, which decided to adopt the heuristic as the optimization method for a supply-chain design project. To explore the performance of the heuristic in general settings, we conducted a simulation experiment on 900 test problems. We found that the average cost error of using the proposed heuristic was reasonably low for practical applications. (C) 2011 Elsevier B.V. All rights reserved.

Authors

I am an author on this paper
Click your name to claim this paper and add it to your profile.

Reviews

Primary Rating

4.7
Not enough ratings

Secondary Ratings

Novelty
-
Significance
-
Scientific rigor
-
Rate this paper

Recommended

Article Management

Efficiency in the generation of social welfare in Mexico: A proposal in the presence of bad outputs

Victor Gimenez, Francisco Javier Ayvar-Campos, Jose Cesar Lenin Navarro-Chavez

OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE (2017)

Article Economics

Evaluation of efficiency in Colombian hospitals: An analysis for the post-reform period

Victor Gimenez, William Prieto, Diego Prior, Emili Tortosa-Ausina

SOCIO-ECONOMIC PLANNING SCIENCES (2019)

Article Environmental Sciences

Environmental productivity in the European Union: A global Luenberger-metafrontier approach

Mercedes Beltran-Esteve, Victor Gimenez, Andres J. Picazo-Tadeo

SCIENCE OF THE TOTAL ENVIRONMENT (2019)

Article Engineering, Civil

Direct Management or Inter-Municipal Cooperation in Smaller Municipalities? Exploring Cost Efficiency and Installed Capacity in Drinking Water Supply

Jose Luis Zafra-Gomez, Victor Gimenez-Garcia, Cristina Maria Campos-Alba, Emilio Jose de la Higuera-molina

WATER RESOURCES MANAGEMENT (2020)

Article Economics

Evaluation and determinants of preschool effectiveness in Chile

Victor Gimenez, Claudio Thieme, Diego Prior, Emili Tortosa-Ausina

Summary: Early intervention in quality education is a way to promote equal opportunities, and preschool education has become an important focus of public policy. This study evaluates the performance of preschool education centers in Chile that cater to children from lower socioeconomic families and proposes a valid methodology for decision making. It also quantifies the levels of effectiveness and emphasizes the importance of targeting efforts on centers that are more likely to have lower levels of effectiveness due to structural conditions.

SOCIO-ECONOMIC PLANNING SCIENCES (2022)

Article Economics

Efficiency and quality in Colombian education: An application of the metafrontier Malmquist-Luenberger productivity index

Alexei Arbona, Victor Gimenez, Sebastian Lopez-Estrada, Diego Prior

Summary: This study uses the metafrontier Malmquist-Luenberger index to measure changes in the productivity of schools in the Colombian education system. The results indicate deterioration in both public and private schools, with significant gaps between different subjects.

SOCIO-ECONOMIC PLANNING SCIENCES (2022)

Article Business

Role of Cultural Dimensions and Dynamic Capabilities in the Value-based Performance of Digital Healthcare Services

Rima Sermontyte-Baniule, Asta Pundziene, Victor Gimenez, Isabel Narbon-Perpina

Summary: This study investigates the impact of cultural dimensions and dynamic capabilities on the value-based performance of digital healthcare services, finding a correlation between cultural dimensions and dynamic capabilities, particularly in terms of environment scanning, employee engagement, and organizational learning, with strong dynamic capabilities associated with more advanced implementation of digital healthcare services.

TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE (2022)

Article Economics

Modernization plans for the Mexican customs system: have they really worked? A productivity impact assessment

Erik Alda, Victor Gimenez, Irvin Gilberto Paz Castro, America Ivonne Zamora Torres

Summary: This study utilized a standard metafrontier model to evaluate the efficiency of customs offices in Mexico. The findings revealed that border customs offices had the highest within-group variations, whereas internal customs offices maintained constant efficiency and maritime customs offices were closest to the metafrontier. Additionally, border customs offices were the most productive group during the study period, although they were distant from the metafrontier. This research contributes to the existing literature on customs efficiency measurement.

APPLIED ECONOMICS (2023)

Article Engineering, Industrial

Value capture and embeddedness in social-purpose-driven ecosystems. A multiple-case study of European digital healthcare platforms

Asta Pundziene, Neringa Gerulaitiene, Sea Matilda Bez, Irene Georgescu, Christopher Mathieu, Jordi Carrabina-Bordoll, Josep Rialp-Criado, Hannu Nieminen, Alpo Varri, Susanne Boethius, Mark van Gils, Victor Gimenez-Garcia, Isabel Narbon-Perpina, Diego Prior-Jimenez, Laura Vilutiene

Summary: This study examines the impact of a social-purpose-driven ecosystem on value capture from digital health platforms. The social-purpose-driven ecosystem is characterized by seeking social impact before profits and empowering citizens for individual and collective well-being. The study finds that capturing value from digital healthcare platforms embedded in a social-purpose-driven ecosystem requires considering unique contingencies such as multilayer value creation, multipurpose complementary assets, emerging dominant design, and distributed socio-economic returns mechanisms. The study emphasizes the importance of acknowledging the contextual effect of a social-purpose-driven ecosystem and highlights the factors that can positively affect value capture from digital healthcare platforms.

TECHNOVATION (2023)

Article Economics

Generation and distribution of income in Mexico, 1990-2015

Francisco Javier Ayvar-Campos, Jose Cesar Lenin Navarro-Chavez, Victor Gimenez

JOURNAL OF ECONOMICS FINANCE AND ADMINISTRATIVE SCIENCE (2020)

Article Business

Strategic alliances' effects over hospital efficiency and capacity utilization in Mexico

Victor Gimenez, Diego Prior, Jorge R. Keith

ACADEMIA-REVISTA LATINOAMERICANA DE ADMINISTRACION (2020)

Article Economics

Does a complex environment affect police efficiency: an examination on municipal police in Mexico

Erik Alda, Victor Gimenez, Diego Prior

APPLIED ECONOMICS LETTERS (2020)

Article Health Policy & Services

Do healthcare financing systems influence hospital efficiency? A metafrontier approach for the case of Mexico

Victor Gimenez, Jorge R. Keith, Diego Prior

HEALTH CARE MANAGEMENT SCIENCE (2019)

Article Social Sciences, Interdisciplinary

Comparing the Performance of National Educational Systems: Inequality Versus Achievement?

Victor Gimenez, Claudio Thieme, Diego Prior, Emili Tortosa-Ausina

SOCIAL INDICATORS RESEARCH (2019)

Article Business

An international comparison of educational systems: a temporal analysis in presence of bad outputs

Victor Gimenez, Claudio Thieme, Diego Prior, Emili Tortosa-Ausina

JOURNAL OF PRODUCTIVITY ANALYSIS (2017)

Review Management

Survey of optimization models for power system operation and expansion planning with demand response

Vinicius N. Motta, Miguel F. Anjos, Michel Gendreau

Summary: This survey presents a review of optimization approaches for the integration of demand response in power systems planning and highlights important future research directions.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

R-SALSA: A branch, bound, and remember algorithm for the workload smoothing problem on simple assembly lines

Philipp Schulze, Armin Scholl, Rico Walter

Summary: This paper proposes an improved branch-and-bound algorithm, R-SALSA, for solving the simple assembly line balancing problem, which performs well in balancing workloads and providing initial solutions.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Adaptive scheduling in service systems: A Dynamic programming approach

Roshan Mahes, Michel Mandjes, Marko Boon, Peter Taylor

Summary: This paper discusses appointment scheduling and presents a phase-type-based approach to handle variations in service times. Numerical experiments with dynamic scheduling demonstrate the benefits of rescheduling.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Discrete scheduling and critical utilization

Oleg S. Pianykh, Sebastian Perez, Chengzhao Richard Zhang

Summary: Efficient scheduling is crucial for optimizing resource allocation and system performance. This study focuses on critical utilization and efficient scheduling in discrete scheduling systems, and compares the results with classical queueing theory.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Review Management

Supply chain network design with financial considerations: A comprehensive review

Hamed Jahani, Babak Abbasi, Jiuh-Biing Sheu, Walid Klibi

Summary: Supply chain network design is a large and growing area of research. This study comprehensively surveys and analyzes articles published from 2008 to 2021 to detect and report financial perspectives in SCND models. The study also identifies research gaps and offers future research directions.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

A branch-and-cut algorithm for the connected max- k-cut problem

Patrick Healy, Nicolas Jozefowiez, Pierre Laroche, Franc Marchetti, Sebastien Martin, Zsuzsanna Roka

Summary: The Connected Max-k-Cut Problem is an extension of the well-known Max-Cut Problem, where the objective is to partition a graph into k connected subgraphs by maximizing the cost of inter-partition edges. The researchers propose a new integer linear program and a branch-and-cut algorithm for this problem, and also use graph isomorphism to structure the instances and facilitate their resolution. Extensive computational experiments show that, if k > 2, their approach outperforms existing algorithms in terms of quality.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Estimating production functions through additive models based on regression splines

Victor J. Espana, Juan Aparicio, Xavier Barber, Miriam Esteve

Summary: This paper introduces a new methodology based on the machine learning technique MARS for estimating production functions that satisfy classical production theory axioms. The new approach overcomes the overfitting problem of DEA through generalized cross-validation and demonstrates better performance in reducing mean squared error and bias compared to DEA and C2NLS methods.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Time-flexible min completion time variance in a single machine by quadratic programming

Stefano Nasini, Rabia Nessah

Summary: In this paper, the authors investigate the impact of time flexibility in job scheduling, showing that it can significantly affect operators' ability to solve the problem efficiently. They propose a new methodology based on convex quadratic programming approaches that allows for optimal solutions in large-scale instances.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Convex support vector regression

Zhiqiang Liao, Sheng Dai, Timo Kuosmanen

Summary: Nonparametric regression subject to convexity or concavity constraints is gaining popularity in various fields. The conventional convex regression method often suffers from overfitting and outliers. This paper proposes the convex support vector regression method to address these issues and demonstrates its advantages in prediction accuracy and robustness through numerical experiments.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

A simulation evacuation framework for effective disaster preparedness strategies and response decision making

Kuo-Hao Chang, Ying-Zheng Wu, Wen-Ray Su, Lee-Yaw Lin

Summary: The damage and destruction caused by earthquakes necessitates the evacuation of affected populations. Simulation models, such as the Stochastic Pedestrian Cell Transmission Model (SPCTM), can be utilized to enhance disaster and evacuation management. The analysis of SPCTM provides insights for government officials to formulate effective evacuation strategies.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

An effective hybrid evolutionary algorithm for the clustered orienteering problem

Qinghua Wu, Mu He, Jin-Kao Hao, Yongliang Lu

Summary: This paper studies a variant of the orienteering problem known as the clustered orienteering problem. In this problem, customers are grouped into clusters and a profit is associated with each cluster, collected only when all customers in the cluster are served. The proposed evolutionary algorithm, incorporating a backbone-based crossover operator and a destroy-and-repair mutation operator, outperforms existing algorithms on benchmark instances and sets new records on some instances. It also demonstrates scalability on large instances and has shown superiority over three state-of-the-art COP algorithms. The algorithm is also successfully applied to a dynamic version of the COP considering stochastic travel time.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Improving uplift model evaluation on randomized controlled trial data

Bjorn Bokelmann, Stefan Lessmann

Summary: Estimating treatment effects is an important task for data analysts, and uplift models provide support for efficient allocation of treatments. However, evaluating uplift models is challenging due to variance issues. This paper theoretically analyzes the variance of uplift evaluation metrics, proposes variance reduction methods based on statistical adjustment, and demonstrates their benefits on simulated and real-world data.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Newsvendor conditional value-at-risk minimisation: A feature-based approach under adaptive data selection

Congzheng Liu, Wenqi Zhu

Summary: This paper proposes a feature-based non-parametric approach to minimizing the conditional value-at-risk in the newsvendor problem. The method is able to handle both linear and nonlinear profits without prior knowledge of the demand distribution. Results from numerical and real-life experiments demonstrate the robustness and effectiveness of the approach.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Right-left asymmetry of the eigenvector method: A simulation study

Laszlo Csato

Summary: This paper compares the performance of the eigenvalue method and the row geometric mean as two weighting procedures. Through numerical experiments, it is found that the priorities derived from the two eigenvectors in the eigenvalue method do not always agree, while the row geometric mean serves as a compromise between them.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)

Article Management

Compete or cooperate? Effects of channel relationships on government policies for sustainability

Guowei Dou, Tsan-Ming Choi

Summary: This study investigates the impact of channel relationships between manufacturers on government policies and explores the effectiveness of positive incentives versus taxes in increasing social welfare. The findings suggest that competition may be more effective in improving sustainability and social welfare. Additionally, government incentives for green technology may not necessarily enhance sustainability.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH (2024)