Research Areas: Supply Chain, Logistics, Optimization
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The supply chain of blood products includes delivering the donated products to the patients, and our work focuses on making these deliveries with minimal waste and shortages. This involves optimal delivery schedules, inventory, and transfusion decisions. By developing and solving models using mathematical programming solution algorithms, optimal performance of these supply chains is guaranteed.
According to the International Maritime Organization, 90% of the world’s trade is carried by sea, and this number is expected to continue rising. This humongous traffic volume directly translates into a vast number of vessels traveling between ports and thus generating fierce competition between shipping lines. To gain a competitive edge over others, a given shipping line should optimize its operations in order to lower its costs and be able to increase its market share. The demand being offered to a shipping line at a given port does not depend only on what this particular shipping line has to offer but on what its competitors offer as well. We model this competition in a duopolistic market using mathematical programming and attempt to solve it using solution algorithms to obtain optimal routing schedules for a pair of competitors.