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Timing of Demand Realization in an LP and Operations Strategies

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Authors
Nam, Ick-Hyun
Issue Date
2009-06
Publisher
College of Business Administration (경영대학)
Citation
Seoul Journal of Business, Vol.15 No.1, pp. 27-37
Keywords
linear programmingstochastic demandquick responseforecastingoutsourcing
Abstract
In a linear programming (LP), market demand is assumed to be

constant, but the demand is often random variable which is to be

realized as time lapses. We refined the previous work of Higle and

Wallace (2003) who studied an LP depending on the timing of market

demand realization. The motivation of this research is the need to

consider three operational strategies used for dealing with demand

uncertainty. We improved the previous work in the following aspects.

These are the strategy of speed, the strategy of forecasting, and the

strategy of outsourcing. Nine distinct LP examples are studied

depending on the velocity of supply chain process and the type of

operations strategy.
ISSN
1226-9816
Language
English
URI
http://hdl.handle.net/10371/32065
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College of Business Administration/Business School (경영대학/대학원)Dept. of Business Administration (경영학과)Seoul Journal of BusinessSeoul Journal of Business Volume 15, Number 1/2 (2009)
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