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The Value of additional Information in a Retailer-Based Distribution Network

Assaf Avrahami, Technion

Abstract:

The fact that information has value in the management of supply chains is well accepted. Our work is focused at two aspects of information: quality of information and quantity of information.

In this presentation we focus on the value of the quantity of information. In particular, we focus on distribution systems that are based on a network of retailers. The goal is to explore the value of additional information in these systems. In particular, we explore the value of the ability to review the state of the system more frequently. In our study we develop a natural formulation for the problem and later on a working formulation for our model. We prove convexity of our model and find the optimal solution. We developed an algorithm to solve numerically the problem. Later on we performed a large scale field study. We report on the savings that the additional information enabled (i.e. the value of the additional information) and discuss in detail what we learned both about the original system and the information rich system.

Assaf Avrahami holds a B.Sc. in Mechanical Engineering and an M.B.A, both from the Technion. He is also a Ph.D. candidate in the Area of Industrial Engineering at the Technion, Israel. Assaf was a visiting Ph.D. student at MIT during the spring of 2011 where he performed collaborative research. Win the third prize in industrial engineering and management conference, 2012 and Mehraz prize, ORSIS, 2012.

Assaf is currently working as CEO of Yedioth Information Technology (the technology and online company of the Yedioth group). Earlier in his carrier, Assaf served as a major in the Israeli Navy, and as CEO of Yedioth communication press (the printing company of the Yedioth group).

ההרצאה תתקיים ביום ג' 22.05.12, בשעה 14:00 בחדר 206, בנין וולפסון הנדסה, הפקולטה להנדסה, אוניברסיטת תל-אביב.

סמינר מחלקתי - המחלקה להנדסת תעשייה

The Value of additional Information in a Retailer-Based Distribution Network

Assaf Avrahami, Technion

Abstract:

The fact that information has value in the management of supply chains is well accepted. Our work is focused at two aspects of information: quality of information and quantity of information.

In this presentation we focus on the value of the quantity of information. In particular, we focus on distribution systems that are based on a network of retailers. The goal is to explore the value of additional information in these systems. In particular, we explore the value of the ability to review the state of the system more frequently. In our study we develop a natural formulation for the problem and later on a working formulation for our model. We prove convexity of our model and find the optimal solution. We developed an algorithm to solve numerically the problem. Later on we performed a large scale field study. We report on the savings that the additional information enabled (i.e. the value of the additional information) and discuss in detail what we learned both about the original system and the information rich system.

Assaf Avrahami holds a B.Sc. in Mechanical Engineering and an M.B.A, both from the Technion. He is also a Ph.D. candidate in the Area of Industrial Engineering at the Technion, Israel. Assaf was a visiting Ph.D. student at MIT during the spring of 2011 where he performed collaborative research. Win the third prize in industrial engineering and management conference, 2012 and Mehraz prize, ORSIS, 2012.

Assaf is currently working as CEO of Yedioth Information Technology (the technology and online company of the Yedioth group). Earlier in his carrier, Assaf served as a major in the Israeli Navy, and as CEO of Yedioth communication press (the printing company of the Yedioth group).

 

 

ההרצאה תתקיים ביום ג' 22.05.12, בשעה 14:00 בחדר 206, בנין וולפסון הנדסה, הפקולטה להנדסה, אוניברסיטת תל-אביב.