直播预告|周翔：On the Role of Supply Information and Inventory for Mitigating Supply Disruption with Capacitated Suppliers

　　燕山大学拟于2020年8月20日14:30在线上举办首届人文社科高端学术论坛（The First High-end Academic Forum of Humanities and Social Sciences of Yanshan University）-青年专场。本次论坛以“管理前沿理论与方法”为主题，集聚了三地四校（燕山大学、香港理工大学、香港中文大学、澳门科技大学）优秀青年学者，探讨交流学术热点，旨在促进学术交流，提高青年学者科研热情和学术水平，助力学校一流大学建设。

　　香港中文大学商学院决策科学与企业经济学教授及系主任周翔将在首届人文社科高端学术论坛第一组里以“On the Role of Supply Information and Inventory for Mitigating Supply Disruption with Capacitated Suppliers”为题作报告，欢迎广大学者参会，交流。

　　论坛地址：https://meeting.tencent.com/s/3qoX36hHps6S

　　会 议 ID：743 736 434

　　会议密码：200820

　　周翔教授简介：

　　周翔现为香港中文大学商学院决策科学与企业经济学教授及系主任。他同时也是香港中文大学亚洲供应链及物流研究院其下供应链管理研究中心主任。周翔本科毕业于浙江大学自动化系，其后于美国北卡罗来纳州立大学获得运筹学硕士和博士学位。周翔的主要研究领域是供应链管理。他近期主要研究复杂供应链系统的库存管理，动态定价，绿色供应链管理，消费者行为对供应链的决策的影响, 及和以上课题相关的数据驱动供应链优化。他担任多个学术期刊的编委，如IIE Transactions, Naval Research Logistics, OR Letters, Service Sciences等。

　　Title：On the Role of Supply Information and Inventory for Mitigating Supply Disruption with Capacitated Suppliers

　　Abstract：

　　Firms have been increasingly experiencing supply disruptions that can cause them significant losses. To mitigate the risk of supply disruption, dual sourcing is a widely adopted strategy in practice. In this paper, we study the operational and economic role of inventory and supply information on a firm who sources from two capacitated suppliers, one of which is susceptible to disruption, over a multi-period planning horizon. Both dynamic newsvendor and multi-period inventory models are considered. We formulate and solve the problems using dynamic programming while modeling the state of unreliable supplier and its transition (the supply information) as a finite-state Markov chain. In the dynamic newsvendor model where the firm does not carry inventory/demand backlog between periods, we derive the optimal order quantities from both suppliers in closed-form and discuss their structural properties with respect to the state of unreliable supplier. We further examine how the value of supply information (the cost difference between the case where the firm has no supply information and the case it has supply information) is affected by the suppliers' capacities and provide an analytic upper bound on such value. In the multi-period inventory model where the firm carries inventory/demand backlog, we characterize the optimal ordering policies that are determined by several thresholds depending on the state of unreliable supplier. The structural properties of the thresholds on the state of unreliable supplier and the capacities of the suppliers are analyzed. The following main insights are unveiled: First, the supply information would affect greatly how the firm sources and orders from the suppliers. Second, supply disruption could still cause significant losses to the firm even with dual sourcing. Third, the value of supply information is significant to the firm and it is more valuable under dual sourcing than single sourcing. Fourth, carrying inventory/demand backlog can help mitigate the negative impact of supply disruption under dual sourcing but may not be beneficial under single sourcing; and it can sometimes greatly increase the value of supply information. This is joint work with Li Xiao (TBSI).

　　附：论坛流程

　　1.燕山大学首届人文社科高端学术论坛主论坛

　　论坛地址：https://meeting.tencent.com/s/lXky5bgdIx06

　　会 议 ID：743 736 434

　　会议密码：200820

　　2.燕山大学首届人文社科高端学术论坛分论坛一组

　　论坛地址：https://meeting.tencent.com/s/3qoX36hHps6S

　　会 议 ID：695 963 522

　　会议密码：200820

　　3.燕山大学首届人文社科高端学术论坛分论坛二组

　　论坛地址：https://meeting.tencent.com/s/QZFxV2nMqhK3

　　会 议 ID：451 491 088

　　会议密码：200820

　　4.燕山大学首届人文社科高端学术论坛分论坛三组

　　论坛地址：https://meeting.tencent.com/s/IKrDetmjYDNR

　　会 议 ID：762 658 111

　　会议密码：200820