72,291 research outputs found
Theory and Applications of Robust Optimization
In this paper we survey the primary research, both theoretical and applied,
in the area of Robust Optimization (RO). Our focus is on the computational
attractiveness of RO approaches, as well as the modeling power and broad
applicability of the methodology. In addition to surveying prominent
theoretical results of RO, we also present some recent results linking RO to
adaptable models for multi-stage decision-making problems. Finally, we
highlight applications of RO across a wide spectrum of domains, including
finance, statistics, learning, and various areas of engineering.Comment: 50 page
Distributionally Robust Optimization for Sequential Decision Making
The distributionally robust Markov Decision Process (MDP) approach asks for a
distributionally robust policy that achieves the maximal expected total reward
under the most adversarial distribution of uncertain parameters. In this paper,
we study distributionally robust MDPs where ambiguity sets for the uncertain
parameters are of a format that can easily incorporate in its description the
uncertainty's generalized moment as well as statistical distance information.
In this way, we generalize existing works on distributionally robust MDP with
generalized-moment-based and statistical-distance-based ambiguity sets to
incorporate information from the former class such as moments and dispersions
to the latter class that critically depends on empirical observations of the
uncertain parameters. We show that, under this format of ambiguity sets, the
resulting distributionally robust MDP remains tractable under mild technical
conditions. To be more specific, a distributionally robust policy can be
constructed by solving a sequence of one-stage convex optimization subproblems
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Supply chain control: Trade-offs and system requirements
The official published version can be accessed from the link below.A paper describes the underlying forces which drive change in manufacturing enterprises and supply chains. It sets out the complexities in modern capitalism and global economics and illustrates the trade-offs that can be made. IT systems which are required to assist improvements to both customer service and enterprise manufacturing performance are explained, alluding to the special case for the semiconductor industry. Arguments are presented showing how the new tools being developed with the ESPRIT project 20544, X-CITTIC, will satisfy the control needs for a virtual enterprise. This paper describes the underlying forces which drive change in manufacturing enterprises and supply chains. It sets out the complexities in modem capitalism and global economics and illustrates the trade-offs that can be made. IT systems which are required to assist improvements to both customer service and enterprise manufacturing performance are explained alluding to the special case for the semiconductor industry. Finally it shows how the new tools being developed with the ESPRIT project 20544, XCITTIC, will satisfy the control needs for a virtual enterprise
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