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Timing of Demand Realization in an LP and Operations Strategies
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- Authors
- Issue Date
- 2009-06
- Citation
- Seoul Journal of Business, Vol.15 No.1, pp. 27-37
- Keywords
- linear programming ; stochastic demand ; quick response ; forecasting ; outsourcing
- 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
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