Analysis of a Disrupted Production-Inventory System
Preferred MajorsApplied Mathematics | Computer Science | Industrial Engineering | Manufacturing Engineering | Operations Management | Undesignated Engineering
The globalization of supply chain networks has significantly increased the risk that a disruption or delay anywhere in the network can result in immediate business costs, lost revenue, and heavily congested logistics systems. Moreover, the current global financial crisis underscores the significance of financial dependencies that exist between nations. Distress in one economy can have a devastating ripple effect on the economies of many others. For these reasons, it is vital for manufacturing and service organizations to establish and execute well-planned and well-managed supply chain strategies that are responsive to disruptions that may be local or global. Such strategies can substantially improve an organization’s likelihood of enduring (and even thriving in) uncertain environments by ensuring the continuity of operations while simultaneously minimizing excessive supplies. These objectives can only be met if firms and their suppliers coordinate production, inventory, and distribution decisions to mitigate the risks associated with supply disruptions. The primary objective of the proposed research is to fulfill the critical need for a rigorous, integrated framework within which to model, analyze, and optimally operate unreliable, multi-echelon supply chains. It is well known that inventory strategies employed by firms can significantly impact the demand experienced by their manufacturers and suppliers. However, it is a significant challenge to coordinate a company’s inventory decisions with the inventory and production decisions of its supplier(s), particularly in the face of random supply disruptions.
Being able to read technical papers, analyze data in Excel and other software, being able to code (Bonus!)