Graduate Seminar: Dr. Baris Balcioglu , “Make-to-stock queues: A useful approach to analyze production inventory systems”, May 15, 2015
Industrial Engineering Graduate Seminar Series
“Make-to-stock queues: A useful approach to analyze production inventory systems”
Dr. Baris Balcioglu
Faculty of Engineering and Natural Sciences
Abstract: In this talk, we will present the results of our efforts in generalizing the applicability of make-to-stock queues to study important aspects of and problems in production/inventory systems. In general, the production control in make-to-stock queues is performed by a base-stock inventory policy. Whenever the inventory level drops below the base-stock level, a production order is released which is treated as an arrival at the single server queue which models the production line. If the inventory level reaches the base stock level, production stops. In this setting, we first show the worsening impact of production time variability in systems where demand processes are stationary. If demand can be partially controlled, e.g., by quoting dynamic lead times or offering a dynamic pricing scheme, the results can vary significantly. For instance, a dynamic lead time quotation policy can decrease the worsening impact of production time variability. In flexible manufacturing settings where demand for different types of products arise from stationary Poisson processes, we show that the dynamic Myopic scheduling policies are sub-optimal. In case dynamic pricing schemes make Poisson arrival rates become state-dependent, Myopic policies lose their superiority over bmu type static scheduling policies. We finally talk about the inventory rationing policy for systems where production times are generally distributed.
Bio: Baris Balcioglu received his B.Sc. and M.Sc. degrees in Industrial Engineering from Bilkent University in 1994 and 1996, respectively. After working for some years in the industry, her returned to academia and completed his PhD studies in Industrial and Systems Engineering at Rutgers University in 2003. He worked first as an assistant and then as an associate professor at the Mechanical and Industrial Engineering Department of the University of Toronto from 2003 to 2011. Since 2011, he works at the Sabanci University Faculty of Engineering and Natural Sciences. His research interests are on stochastic systems and processes, queueing theory, spare part provisioning, customer contact centers and discrete event simulation.
Date: 15 May 2015, Friday
Venue: Selcuk Yasar Campus, Y317