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Production Planning Under Supply and Demand Uncertainty: A Stochastic Programming Approach

In: Stochastic Programming

Author

Listed:
  • Julia L. Higle

    (The Ohio State University)

  • Karl G. Kempf

    (Intel Corporation)

Abstract

In this chapter, we introduce a stochastic programming model for production planning under uncertainty. Our model of uncertainty extends to supply via uncertainties in the production process, and demand via probabilistic descriptors of quantities and due dates even after orders have been received. In contrast to much of the existing literature, our models of uncertainty are dynamic, in that they reflect the evolution of supply through a multistage production process as well as volatility in customer orders as due dates approach. The resulting model is a multistage stochastic linear program that incorporates Markov chains within the probabilistic models.

Suggested Citation

  • Julia L. Higle & Karl G. Kempf, 2010. "Production Planning Under Supply and Demand Uncertainty: A Stochastic Programming Approach," International Series in Operations Research & Management Science, in: Gerd Infanger (ed.), Stochastic Programming, chapter 0, pages 297-315, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-1642-6_14
    DOI: 10.1007/978-1-4419-1642-6_14
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    Cited by:

    1. Ghadimi, Foad & Aouam, Tarik & Haeussler, Stefan & Uzsoy, Reha, 2022. "Integrated and hierarchical systems for coordinating order acceptance and release planning," European Journal of Operational Research, Elsevier, vol. 303(3), pages 1277-1289.
    2. Aouam, Tarik & Brahimi, Nadjib, 2013. "Integrated production planning and order acceptance under uncertainty: A robust optimization approach," European Journal of Operational Research, Elsevier, vol. 228(3), pages 504-515.
    3. Gah-Yi Ban & Jérémie Gallien & Adam J. Mersereau, 2019. "Dynamic Procurement of New Products with Covariate Information: The Residual Tree Method," Manufacturing & Service Operations Management, INFORMS, vol. 21(4), pages 798-815, October.
    4. Pham, An & Jin, Tongdan & Novoa, Clara & Qin, Jin, 2019. "A multi-site production and microgrid planning model for net-zero energy operations," International Journal of Production Economics, Elsevier, vol. 218(C), pages 260-274.
    5. Zhou, Rui & Bhuiyan, Tanveer Hossain & Medal, Hugh R. & Sherwin, Michael D. & Yang, Dong, 2022. "A stochastic programming model with endogenous uncertainty for selecting supplier development programs to proactively mitigate supplier risk," Omega, Elsevier, vol. 107(C).

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