{"646165":{"#nid":"646165","#data":{"type":"event","title":"ISyE Seminar- R. Ravi","body":[{"value":"\u003Cp\u003E\u003Cstrong\u003EAbstract:\u003C\/strong\u003E Omni-channel retailing, the combination of online and traditional store channels, has led to the use of traditional stores as fulfillment centers for online orders. A key aspect of omni-channel fulfillment problems is the tradeoff between cancellations of accepted online orders and profits: a riskier fulfillment policy may result in more online sales but also more cancelled orders.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EIn this talk, I will describe a stochastic model of the process leading to order cancellations for a single item so that retailers may find fulfillment policies that effectively use this information along with shipping costs between various locations. We describe iterative algorithms based on Infinitesimal Perturbation Analysis (IPA) that converge to optimal and locally optimal policies within certain flexible policy classes for the multiple-location version of this model, and show their empirical performance on simulations based on real data from a high-end North American retailer. Time permitting, I will sketch extensions of the basic model to account for multiple stages of fulfillment and modeling pick failures at stores.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThis talk is based on the dissertation of Jeremy Karp at CMU describing work carried out jointly with Prof. Sridhar Tayur (CMU) and Dr. Srinath Sridhar (Onera Inc), with recent contributions from Su Jia and Sagnik Das from CMU.\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \/\u003E\r\n\u003Cstrong\u003EBio:\u003C\/strong\u003E\u0026nbsp;\u0026nbsp;\u0026nbsp; http:\/\/www.contrib.andrew.cmu.edu\/~ravi\/\u003C\/p\u003E\r\n\r\n\u003Cp\u003EDr. R. Ravi is Andris A. Zoltners Professor of Business, and Professor of\u003Cbr \/\u003E\r\nOperations Research and Computer Science at Carnegie Mellon University.\u003C\/p\u003E\r\n\r\n\u003Cp\u003ERavi received his bachelor\u0026#39;s degree from IIT, Madras, and Master\u0026#39;s and doctoral\u003Cbr \/\u003E\r\ndegrees from Brown University, all in Computer Science.\u003C\/p\u003E\r\n\r\n\u003Cp\u003ERavi\u0026#39;s research focuses on models, methods and applications of discrete\u003Cbr \/\u003E\r\noptimization, and their applications in the intersection of business and technology.\u003Cbr \/\u003E\r\nHe served as area editor for \u0026quot;Operations Research\u0026quot; in charge of the discrete\u003Cbr \/\u003E\r\noptimization area between 2012-2017. He has formerly served as associate editor\u003Cbr \/\u003E\r\nin the ACM Transactions on Algorithms, Management Science, Networks and\u003Cbr \/\u003E\r\nJournal of Algorithms. He has also served on several international program\u003Cbr \/\u003E\r\ncommittees including as the program chair for the 2008 IEEE Foundations of\u003Cbr \/\u003E\r\nComputer Science (FOCS) conference. Ravi has co-authored two books, over 130\u003Cbr \/\u003E\r\npublications, and has a h-index of over 50.\u003C\/p\u003E\r\n\r\n\u003Cp\u003ERavi has been at the Tepper School of Business since 1995 where he served as the\u003Cbr \/\u003E\r\nAssociate Dean for Intellectual Strategy from 2005-2008. He was Chair of the\u003Cbr \/\u003E\r\nFuture Educational Delivery Committee that launched the online hybrid Tepper\u003Cbr \/\u003E\r\nMBA in 2013. He was elected a Fellow of the INFORMS in 2017.\u003C\/p\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EOmni-channel retailing, the combination of online and traditional store channels, has led to the use of traditional stores as fulfillment centers for online orders. A key aspect of omni-channel fulfillment problems is the tradeoff between cancellations of accepted online orders and profits: a riskier fulfillment policy may result in more online sales but also more cancelled orders.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EIn this talk, I will describe a stochastic model of the process leading to order cancellations for a single item so that retailers may find fulfillment policies that effectively use this information along with shipping costs between various locations. We describe iterative algorithms based on Infinitesimal Perturbation Analysis (IPA) that converge to optimal and locally optimal policies within certain flexible policy classes for the multiple-location version of this model, and show their empirical performance on simulations based on real data from a high-end North American retailer. Time permitting, I will sketch extensions of the basic model to account for multiple stages of fulfillment and modeling pick failures at stores.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThis talk is based on the dissertation of Jeremy Karp at CMU describing work carried out jointly with Prof. Sridhar Tayur (CMU) and Dr. Srinath Sridhar (Onera Inc), with recent contributions from Su Jia and Sagnik Das from CMU.\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026nbsp;\u003C\/p\u003E\r\n","format":"limited_html"}],"field_summary_sentence":[{"value":"Models and Methods for Omni-channel Fulfillment"}],"uid":"34868","created_gmt":"2021-04-06 14:19:34","changed_gmt":"2021-04-06 14:19:34","author":"sbryantturner3","boilerplate_text":"","field_publication":"","field_article_url":"","field_event_time":{"event_time_start":"2021-04-13T12:00:00-04:00","event_time_end":"2021-04-13T13:00:00-04:00","event_time_end_last":"2021-04-13T13:00:00-04:00","gmt_time_start":"2021-04-13 16:00:00","gmt_time_end":"2021-04-13 17:00:00","gmt_time_end_last":"2021-04-13 17:00:00","rrule":null,"timezone":"America\/New_York"},"extras":[],"groups":[{"id":"1242","name":"School of Industrial and Systems Engineering (ISYE)"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[],"event_categories":[{"id":"1795","name":"Seminar\/Lecture\/Colloquium"}],"invited_audience":[{"id":"78761","name":"Faculty\/Staff"},{"id":"177814","name":"Postdoc"},{"id":"78771","name":"Public"},{"id":"174045","name":"Graduate students"},{"id":"78751","name":"Undergraduate students"}],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[],"email":[],"slides":[],"orientation":[],"userdata":""}}}