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SUMMARY:Multi-Echelon Inventory Optimization under the Threat of Disruption
 s
DESCRIPTION: \n\nThe Department of Decision Sciences invites you to attend\
 nMulti-Echelon Inventory Optimization under the Threat of Disruptions\nSpe
 aker: Larry Snyder\, Ph.D.\, Associate Professor at Lehigh University\nThu
 rsday\, Oct 16th\, 2014\, 11am – 12noon. Gerri C. LeBow Hall\, Room\n409
  For more information\, please contact Wenjing Shen at\nwenjings@drexel.ed
 u.\n\nAbstract As supply chains have become more complex\, global\, and le
 an\,\ntheir vulnerability to disruptions has increased significantly. Rece
 nt\nhigh-profile disruptions (superstorm Sandy\, vaccine shortages\, facto
 ry\nfires) have captured public attention\, but smaller-scale events\n(mac
 hine breakdowns\, supplier stockouts\, inclement weather) can also\ndisrup
 t supply chain operations. In fact\, a recent study showed that\napproxima
 tely 75% of companies surveyed worldwide experience\ndisruptions in a give
 n year. Moreover\, supply disruptions are rarely\nlocalized\; rather\, the
 y have a cascading effect through the system. In\nfact\, the same study sh
 owed that over 40% of disruptions originate\nfurther upstream than the imm
 ediate supplier. Despite this\, the\nacademic literature on inventory mana
 gement under the threat of supply\ndisruptions has largely focused on sing
 le-stage inventory models\nderived from the EOQ\, newsvendor\, and other c
 lassical models. In this\ntalk\, we discuss recent work on multi-echelon i
 nventory models. We\nconsider fundamental network structures such as assem
 bly and\ndistribution systems and present properties of effective inventor
 y\npolicies. We also discuss heuristics for solving these inherently\ndiff
 icult\, nonlinear problems. Finally\, we discuss managerial insights\nthat
  can be obtained from these quantitative models.\n\nBiography Larry Snyder
  is an Associate Professor of Industrial and\nSystems Engineering at Lehig
 h University in Bethlehem\, PA. He received\nhis Ph.D. in Industrial Engin
 eering and Management Sciences from\nNorthwestern University. Dr. Snyder
 ’s research interests include\nmodeling and solving problems in supply c
 hain management and\nelectricity systems\, particularly when the problem e
 xhibits\nsignificant amounts of uncertainty. His research has been publish
 ed in\nsuch journals as Transportation Science\, IEEE Transactions on Smar
 t\nGrid\, Naval Research Logistics\, IIE Transactions\, and Production and
 \nOperations Management and has been funded by NSF\, state agencies\, and\
 nseveral major corporations. He is co-author of the textbook\nFundamentals
  of Supply Chain Theory\, published in 2011 by Wiley\, which\nwon the IIE/
 Joint Publishers Book-of-the-Year Award in 2012. He has\ndelivered or co-a
 uthored over 100 presentations at academic\nconferences\, universities\, a
 nd companies. He is a founding member of\nLehigh’s Integrated Networks f
 or Electricity (INE) research cluster\,\nan Associate Editor for IIE Trans
 actions\, an Advisory Editor for the\nWiley Series on Operations Research 
 and Management Science\, and an\nEditorial Board member for CSCMP Supply C
 hain Quarterly. He is the\nauthor of a suite of freeware educational softw
 are packages including\nVRP Solver and BaseStockSim. For more information\
 , visit\ncoral.ie.lehigh.edu/~larry.\n 
DTSTART:20141016T150000Z
DTEND:20141016T160000Z
LOCATION:Gerri C. LeBow Hall\, 3220 Market Street\, 409\, Philadelphia\, PA
  19104
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