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We consider a firm which faces a Poisson customer demand and uses a base-stock policy to replenish its inventories from an outside supplier with a fixed lead time. The firm can use a preorder strategy which allows the customers to place their orders before their actual need. The time from a customer's order until the date a product is actually needed is called commitment lead time. The firm pays a commitment cost which is strictly increasing and convex in the length of the commitment lead time. For such a system, we prove the optimality of bang-bang and all-or-nothing policies for the commitment lead time and the base-stock policy, respectively. We study the case where the commitment cost is linear in the length of the commitment lead time in detail. We show that there exists a unit commitment cost threshold which dictates the optimality of either a buy-to-order (BTO) or a buy-to-stock strategy. The unit commitment cost threshold is increasing in the unit holding and backordering costs and decreasing in the mean lead time demand. We determine the conditions on the unit commitment cost for profitability of the BTO strategy and study the case with a compound Poisson customer demand. KEYWORDS advance demand information, commitment cost, inventory management, preorder strategy 1 This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
The stochastic location-allocation p-hub median problems are related to long-term decisions made in risky situations. Due to the importance of this type of problems in real-world applications, the authors were motivated to propose an approach to obtain more reliable policies in stochastic environments considering the decision makers' preferences. Therefore, a systematic approach to make robust decisions for the single location-allocation p-hub median problem based on mean-variance theory and twostage stochastic programming was developed. The approach involves three main phases, namely location modeling, risk modeling, and decision making, each including several steps. In the first phase, the pertinent location-allocation model of the problem is developed in the form of a two-stage stochastic model based on its deterministic version. A risk measure, based on total cost function and mean-variance theory, is derived in the second phase. Furthermore, two heterogeneous terms of the risk measure have been normalized and an innovative procedure has been proposed to significantly improve the calculation efficiency. In the third phase, the Pareto solution is obtained, the frontier curve is depicted to determine the decision maker's risk aversion coefficient, and a robust policy is obtained through optimization based on decision makers' preferences. Finally, a case study of an automobile part distribution system with stochastic demand is described to further illustrate our risk management and analysis approach.
Genetic algorithm (GA) and partial least squares (PLS) and kernel PLS (KPLS) techniques were used to investigate the correlation between immobilized liposome chromatography partitioning (log Ks) and descriptors for 65 drug compounds. The models were validated using leave-group-out cross validation LGO-CV. The results indicate that GA-KPLS can be used as an alternative modelling tool for quantitative structure-property relationship (QSPR) studies.
Genetic algorithm and partial least square (GA-PLS) and Levenberg-Marquardt artificial neural network (L-M ANN) techniques were used to investigate the correlation between retention time and descriptors for drug metabolites which obtained by two-dimensional liquid chromatography. The applied internal (leave-group-out cross validation (LGO-CV)) and external (test set) validation methods were used for the predictive power of four models. Both methods resulted in accurate prediction whereas more accurate results were obtained by L-M ANN model. The best model obtained from L-M ANN showed a good R(2) value (determination coefficient between observed and predicted values) for all compounds, which was superior to GA-PLS models.
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