| Spring 2006 UMASS
Amherst Operations Research / Management Science Seminar Series |
Date: Friday, April 21, 2006 Time: 11:00 AM Location: Isenberg School of Management, Room 112 |
| Speaker: Professor Vernon Hsu School of Management George Mason University Fairfax, VA |
| Biography: Vernon Hsu is an
Associate Professor of Operations Management at George Mason
University’s School of Management. He has been with George Mason
University since 1994. He received his Ph.D. in Operations Management
from The University of Iowa in 1993. Professor Hsu has offered courses
and lectures in undergraduate, graduate, and executive programs in the
areas of logistics and supply chain management, e-business and supply
chain integration, operations management, and management information
systems. Prof. Hsu’s research has been published in such journals as: IIE Transactions, Journal of Industrial Economics, Management Science, Manufacturing and Service Operations Management, Naval Research Logistics, and Operations Research. He is currently a member of the editorial review board of the Production and Operations Management Journal. |
| TITLE: Inventory and Production
Decisions for an Assemble-to-Order System with Uncertain Demand and
Limited Assembly Capacity |
| Abstract: In this presentation, we consider
a production and inventory problem faced by a contract assembler who
needs to respond to an order of a single product with multiple
components to be procured from component suppliers. Late confirmation
of order quantity from the customer, long component procurement lead
times, and limited in-house assembly capacity may leave the
manufacturer insufficient time to produce the total order quantity. One
strategy to meet this challenge is to procure components or even
assemble some quantity of the finished product before receiving actual
order quantity from the customer. We develop a quantitative model that
will evaluate the optimal decisions under this strategy. The overall
objective of the model is to determine optimal quantity of components
procured and finished product assembled prior to the confirmation of
actual order quantity in order to minimize the total overstocking costs
of components/finished product as well as the shortage cost of the
finished product. An efficient solution procedure and some sensitivity
results will be presented. |
| This series is organized by the
UMASS Amherst INFORMS Student Chapter. Support for this series is
provided by the Isenberg School of Management, the Department of
Finance and Operations Management, INFORMS, and the John F. Smith
Memorial Fund. The Chapter wishes to thank Professor Anna Nagurney, its
Faculty Advisor, for her help and support of this series. For questions, please contact the INFORMS Student Chapter Representative, Ms. Tina Wakolbinger, wakolbinger@som.umass.edu |