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MSRC Seminar

30 Oct 2009 12:00
to
14:00

Management Science Research Centre

presents

Managing Customer Goodwill Using Approximate Dynamic Programming

Prof. Daniel Adelman
Booth School of Business, University of Chicago

Friday, October 30th, 2009
12:00 PM – 2:00 PM
Samuel Bronfman Building
1001 Sherbrooke St. W
RM 310

All are cordially invited to attend.

Abstract:
We study the problem faced by a supplier deciding how to dynamically allocate limited capacity among a portfolio of customers who remember the fill rates provided to them in the past when making ordering decisions. Customers differ from one another in the prices they are willing to pay, in their sensitivity to the past, and in their demand volatility. We seek to understand the impacts of these factors on the supplier's allocation policy. We approach the problem using approximate dynamic programming.

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