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1Schulich School of Business, York University, Canada; 2Desautels Faculty of Management, McGill University; 3Sauder School of Business, University of British Columbia
A project involves several participants – clients, contractors, and subcontractors – who each manage multiple projects concurrently. This creates a network of otherwise unrelated projects. Accordingly, a disruption in one project forces all parties to reallocate resources from other concurrent projects, causing externalities across the wider project network. We use data from 2.6 million U.S. public projects – and their networks – to quantify the importance of these network externalities.
Robust capacity panning with general upgrading
Zhaowei Hao1, Long He2, Zhenyu Hu3, Jun Jiang4
1Dongbei University of Finance and Economics, China, People's Republic of; 2George Washington University School of Business (GWSB); 3NUS Business School and Institute of Operations Research and Analytics; 4NUS Business School
We consider the capacity planning problem to decide the initial capacity to maximize the expected total profit when general upgrading is allowed. Given the marginal mean and variance information of the demand distribution for each product, we formulate it as a two-stage distributionally robust optimization (DRO) model. We show how to reformulate the DRO model into a tractable SOCP formulation and conduct extensive numerical experiments to validate the out-of-sample performance of the DRO solution.
The impact of profit differentials on the value of a little flexibility
Shixin Wang, Jiawei Zhang, Yichen Zhang
TBD
Problem: The effectiveness of flexibility in mitigating demand and supply mismatch with unequal profits is unclear. Methodology/Results: We evaluate the effectiveness of a long-chain structure compared to full flexibility. Performance ratio lower bound shows effectiveness of some flexibility. Performance ratio increases with profit differentials. Managerial implications: Cluster high-profit products for optimal flexible structures.
