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We develop a new market-making model, from the ground up, which is tailored towards high-frequency trading under a limit order book (LOB), based on the well-known classification of order types in market microstructure. Our flexible…
Recently, there has been a growing interest in developing inventory control policies which are robust to model misspecification. One approach is to posit that nature selects a worst-case distribution for any stochastic primitives from some…
Assemble-to-order approaches deal with randomness in demand for end items by producing components under uncertainty, but assembling them only after demand is observed. Such planning problems can be tackled by stochastic programming, but…
Supply chain management is an integrated approach for planning and controlling materials, information, and finances as they move in a process which begins from suppliers and ends with customers in forward approach. As distribution network…
Modular design maximizes utility by using standardized components in large-scale systems. From a manufacturing perspective, it supports green technology by reducing material waste and improving reusability. Industrially, it offers economic…
We consider a network inventory system motivated by one-way, on-demand vehicle sharing services. Under uncertain and correlated network demand, the service operator periodically repositions vehicles to match a fixed supply with spatial…
Efficient job-shop scheduling with transportation resources is critical for high-performance manufacturing. With the rise of "decentralized factories", multi-agent reinforcement learning has emerged as a promising approach for the combined…
Modular robots have the potential to revolutionize automation, as one can optimize their composition for any given task. However, finding optimal compositions is non-trivial. In addition, different compositions require different base…
Cell inconsistency within a lithium-ion battery system poses a significant challenge in maximizing the system operational time. This study presents an optimization-driven active balancing method to minimize the effects of cell inconsistency…
Topology optimization of modular structures and mechanisms enables balancing the performance of automatically-generated individualized designs, as required by Industry 4.0, with enhanced sustainability by means of component reuse. For…
Production systems deteriorate stochastically due to usage and may eventually break down, resulting in high maintenance costs at scheduled maintenance moments. This deterioration behavior is affected by the system's production rate. While…
We consider a manufacturing plant that purchases raw materials for product assembly and then sells the final products to customers. There are M types of raw materials and K types of products, and each product uses a certain subset of raw…
This paper develops a data-driven, constraint-based optimization framework for a complex industrial job shop scheduling problem variant in pharmaceutical manufacturing. The formulation captures fixed routings and designated machines,…
We consider the classical discrete time lost-sales model under stationary continuous demand and linear holding and penalty costs and positive constant lead time. To date the optimal policy structure is only known implicitly by solving…
A hierarchical Model Predictive Control (MPC) formulation is presented for coupled discrete-time linear systems with state and input constraints. Compared to a centralized approach, a two-level hierarchical controller, with one controller…
We consider the problem of synchronizing two electric power generators, one of which (the leader) is serving a time-varying electrical load, so that they can ultimately be connected to form a single power system. Each generator is described…
The goal of a typical adaptive sequential decision making problem is to design an interactive policy that selects a group of items sequentially, based on some partial observations, to maximize the expected utility. It has been shown that…
A moldable job is a job that can be executed on an arbitrary number of processors, and whose processing time depends on the number of processors allotted to it. A moldable job is monotone if its work doesn't decrease for an increasing…
We develop a parsimonious model of an e-commerce fulfillment center that offers time-dependent shipment options and corresponding fees to utility-maximizing customers arriving according to a Poisson process. For any such policy, we provide…
We address the problem of executing large client orders in continuous double-auction markets under time and liquidity constraints. We propose a model predictive control (MPC) framework that balances three competing objectives: order…