New asymptotic results for dual sourcing inventory systems, a seminar by Prof Sridhar Seshadri (University of Illinois-Champaign-Urbana)

New asymptotic results for dual sourcing inventory systems

Prof Sridhar Seshadri

Abstract: 

We consider the performance of simple policies, namely optimal sourcing solely from the regular supplier and TBS policies, in a dual sourcing system. We characterise performance of these policies in asymptotic regimes and compare their costs against that of the optimal policy. We show that such cost of simple policies can be far from the optimal policy even when the regular leadtime increases.

About the speaker:

Sridhar Seshadri is Alan J. and Joyce D. Baltz Endowed Professor and teaches business administration. He joined Illinois in 2018 and spends his research energies on stochastic modeling and applications in manufacturing, supply chain management, and revenue management. He was named a James F. Towey Faculty Fellow in 2018. Seshadri earned his Bachelor of Technology in mechanical engineering, with distinction, at the Indian Institute of Technology at Madras in 1978. From the Indian Institute of Management at Ahmedabad, he received a postgraduate diploma in management in 1980. He earned his PhD in management science in 1993 from the University of California at Berkeley.