Article ID Journal Published Year Pages File Type
1023256 Transportation Research Part E: Logistics and Transportation Review 2015 20 Pages PDF
Abstract

This paper focuses on the logistics aspect of supply chain management. It proposes a randomized flow management algorithm for a time-varying, random, supply chain network. A constrained stochastic optimization problem that maximizes the profit function in terms of the long-run, time-average of the flows in the supply chain is formulated. The algorithm is distributed and based on queueing theory and stochastic Lyapunov analysis concepts. The long-run, time averages of the flows generated by the algorithm can get arbitrarily close to the solution of the aforementioned optimization problem. In support of the theoretical results, numerical simulations are also presented.

Related Topics
Social Sciences and Humanities Business, Management and Accounting Business and International Management
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