Revenue Optimization for a Make-to-Order Queue in an Uncertain Market Environment
成果类型：
Article
署名作者：
Besbes, Omar; Maglaras, Costis
署名单位：
University of Pennsylvania; Columbia University
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1080.0645
发表日期：
2009
页码：
1438-1450
关键词：
摘要：
We consider a revenue-maximizing make-to-order manufacturer that serves a market of price-and delay-sensitive customers and operates in an environment in which the market size varies stochastically over time. A key feature of our analysis is that no model is assumed for the evolution of the market size. We analyze two main settings: (i) the size of the market is observable at any point in time; and (ii) the size of the market is not observable and hence cannot be used for decision making. We focus on high-volume systems that are characterized by large processing capacities and market sizes, and where the latter fluctuate on a slower timescale than that of the underlying production system dynamics. We develop an approach to tackle such problems that is based on an asymptotic analysis and that yields near-optimal policy recommendations for the original system via the solution of a stochastic fluid model.