Evaluating the effect of sub-optimality

Y. Gerchak; D. Smirnov

doi:10.1016/j.orl.2014.08.003

Evaluating the effect of sub-optimality

Y. Gerchak, D. Smirnov

Onderzoeksoutput: Bijdrage aan tijdschrift › Tijdschriftartikel › Academic › peer review

4 Citaten (Scopus)

Samenvatting

Comparison of a sub-optimal solution with an optimal, possibly time-consuming to find, solution has crucial importance in Operations Management. In this note, we highlight the potential underestimation of the effect of sub-optimality in recent studies and propose to use an alternative measure for comparing the quality of optimal solutions with sub-optimal ones. We give examples from the realm of Inventory Pooling and the “Price of Anarchy” in supply chains.

Originele taal-2	Engels
Pagina's (van-tot)	455-457
Tijdschrift	Operations Research Letters
Volume	42
Nummer van het tijdschrift	6-7
DOI's	https://doi.org/10.1016/j.orl.2014.08.003
Status	Gepubliceerd - 2014
Extern gepubliceerd	Ja

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10.1016/j.orl.2014.08.003

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Evaluating the effect of sub-optimality

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