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UID:20260607T100143EDT-2648mCDH35@132.216.98.100
DTSTAMP:20260607T140143Z
DESCRIPTION:Friday November 18th\, 2011\n12:00 PM - 2:00 PM\nBronfman Bldg.
 \, Rm. 310 1001 Sherbrooke St. West\, Montreal\nMaking Better Fulfillment 
 Allocation Decisions on the\nFly\nProf. Steve Graves\nAbraham J. Siegel Pr
 ofessor of Management Science\nMIT Sloan School of Management\nEditor-in-C
 hief\, Manufacturing & Service Ops. Mgmt.\n(M&SOM)\nAbstract\nOnline retai
 lers manage large distribution networks\, holding\ninventory in multiple l
 ocations to serve geographically-dispersed\ncustomers with varying service
  requirements. What is the best way\nto fulfill each customer's order when
  customers have different\nservice-time requirements? We partner with a co
 mpany that sells\nproducts online to examine this question\, by first comp
 aring a\nmyopic strategy with a perfect hindsight optimization for a set o
 f\norders to characterize the potential improvement gap. We then\nreport o
 n the development of a heuristic that makes fulfillment\ndecisions by mini
 mizing the sum of the immediate cost plus an\nestimate of future expected 
 opportunity cost of the decision. These\nestimates are derived from the du
 al values of a transportation\nproblem assuming deterministic demand. In o
 ur experiments\, we find\nthat we can capture around 40% of the opportunit
 y gap\, leading to\nimprovements on the order of 1%.\n(research with Jason
  Acimovic).\nA light lunch will be served.\nBio:\nStephen C. Graves is the
  Abraham J. Siegel Professor of\nManagement Science at MIT. He was the dep
 uty dean at the MIT Sloan\nSchool\, 1990 - 1993 and the co-director of the
  MIT Leaders for\nManufacturing (LFM) Program (1989- 1990 and 1994 - 2001)
  and the\nSystem Design and Management (SDM) Program (1999 - 2001). He ser
 ved\na two-year term as the Chair of the MIT Faculty\, 2001 - 2003. He\nha
 s joint faculty appointments with both the Mechanical Engineering\nDepartm
 ent and the Engineering Systems Division at MIT. He is a\nFaculty Fellow o
 f the Singapore-MIT Alliance. He has conducted\nindustry-based research pr
 ojects with numerous companies\, including\nAmazon.com\, AT&T\, Boeing\, E
 astman Kodak\, IBM\, Intel\, General\nMotors\, Mitsubishi\, Monsanto\, Pol
 aroid\, Staples\, and Teradyne. As\nof January 2009 he is the editor-in-ch
 ief of Manufacturing &\nServices Operations Management\, the INFORMS journ
 al for operations\nmanagement. He has been recognized as an INFORMS Fellow
 \, a MSOM\nFellow and a POMS Fellow\n \n \n \n \n \n
DTSTART:20111118T170000Z
DTEND:20111118T190000Z
LOCATION:Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001 rue Sherbr
 ooke Ouest
SUMMARY:Making Better Fulfillment Allocation Decisions on the Fly
URL:/channels/event/making-better-fulfillment-allocati
 on-decisions-fly-211860
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