Planning for a Big Bang in a Supply Chain: Fast Hedging for Production Indicators

— We concern ourselves with the process of making optimized production planning decisions in the face of low frequency, high impact uncertainty, which takes the form of a small number of discrete scenarios. Computational results provide evidence that the computational effort for the full stochastic mixed integer problem can be reduced by first solving scenario sub-problems and then blending them to find values for some of the binary variables.

• Type: Conference
• Year: 2006
• Where: HICSS
• Authors: David L. Woodruff, Stefan Voß
• Keywords: Biometrics, HICSS 2006, Optimized Production Planning, Stochastic Mixed Integer, System Sciences, first Solving Scenario