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The paper proposes a framework for modeling and analysis of the dynamics of supply, demand, and clearing prices in power system with real-time retail pricing and information asymmetry. Real-time retail pricing is characterized by passing on…
The need for control strategies that can address dynamic system uncertainty is becoming increasingly important. In this work, we propose a Model Predictive Control by quantifying the risk of failure in our system model. The proposed control…
Tanker water systems play critical role in providing adequate service to meet potable water demands in the face of acute water crisis in many cities globally. Managing tanker movements among the supply and demand sides requires an efficient…
Fashion merchandising is one of the most complicated problems in forecasting, given the transient nature of trends in colours, prints, cuts, patterns, and materials in fashion, the economies of scale achievable only in bulk production, as…
We study non-stationary single-item, periodic-review inventory control problems in which the demand distribution is unknown and may change over time. We analyze how demand non-stationarity affects learning performance across inventory…
This study proposes a simulation framework of procurement operations in the container logistics industry that can support the development of dynamic procurement strategies. The idea is inspired by the success of Passenger Origin-Destination…
The rise of big data analytics has automated the decision-making of companies and increased supply chain agility. In this paper, we study the supply chain contract design problem faced by a data-driven supplier who needs to respond to the…
Recent global and local phenomena have exposed vulnerabilities in critical supply chain networks (SCNs), drawing significant attention from researchers across various fields. Typically, SCNs are viewed as static entities regularly optimized…
Network Utility Maximization (NUM) is often applied for the cross-layer design of wireless networks considering known wireless channels. However, realistic wireless channel capacities are stochastic bearing time-varying statistics,…
The rapid expansion of digital commerce platforms has amplified the strategic importance of coordinated pricing and inventory management decisions among competing retailers. Motivated by practices on leading e-commerce platforms, we analyze…
Motivated by applications in online marketplaces such as ride-hailing, we study how strategic servers impact the system performance. We consider a discrete-time process in which, heterogeneous types of customers and servers arrive. Each…
Supply chain management (SCM) has been recognized as an important discipline with applications to many industries, where the two-echelon stochastic inventory model, involving one downstream retailer and one upstream supplier, plays a…
A retailer is purchasing goods in bundles from suppliers and then selling these goods in bundles to customers; her goal is to maximize profit, which is the revenue obtained from selling goods minus the cost of purchasing those goods. In…
Even large firms such as Walmart, Apple, and Coca-Cola face persistent fluctuations in costs, demand, and raw material availability. These are not \textit{rare events} and cannot be evaluated using traditional disruption models focused on…
We present an online stochastic model predictive control framework for demand charge management for a grid-connected consumer with attached electrical energy storage. The consumer we consider must satisfy an inflexible but stochastic…
In this study, we analyze and compare the performance of state-of-the-art deep reinforcement learning algorithms for solving the supply chain inventory management problem. This complex sequential decision-making problem consists of…
This paper suggests that business cycles may be a manifestation of coupled real economy and stock market dynamics and describes a mechanism that can generate economic fluctuations consistent with observed business cycles. To this end, we…
From global pandemics to geopolitical turmoil, leaders in logistics, product allocation, procurement and operations are facing increasing difficulty with safeguarding their organizations against supply chain vulnerabilities. It is…
We consider assortment and inventory planning problems with dynamic stockout-based substitution effects, and without replenishment, in two different settings: (1) Customers can see all available products when they arrive, a typical scenario…
We study a problem of an online retailer who observes the unit sales of a product, and dynamically changes the retail price, in order to maximize the expected revenue. Assuming the demand of the product is price sensitive, we are interested…