Optimization under uncertainty has seen many applications in the industrial world. The objective of this paper is to study the stochastic dynamic vehicle allocation problem (SDVAP), which is faced by many trucking companies, container companies, rental car agencies and railroads. To maximize profits and to manage fleets of vehicles in both time and space, this paper has formulated a multistage ...

This paper presents a modeling paradigm which combines graphical and textual elements for the structured specification of performance and dependability models based on stochastic Petri nets. The aim is to manage the complexity of model specification. In the proposed framework processes are encapsulated submodels which are building blocks as known from modular programming languages. Process inte...

The Open Pit Mine Production Scheduling Problem (OPMPSP) studied in recent years is usually based on a single geological estimate of material to be excavated and processed over a number of decades. However techniques have now been developed to generate multiple stochastic geological estimates that more accurately describe the uncertain geology. While some attempts have been made to use such mul...

Operational risks are defined as risks of human origin. Unlike financial risks that can be handled in a financial manner (e.g. insurances, savings, derivatives), the treatment of operational risks calls for a “managerial approach”. Consequently, we propose a new way of dealing with operational risk, which relies on the well known aggregate planning model. To illustrate this idea, we have adapte...

In this paper, we study alternative primal and dual formulations of multistage stochastic convex programs (SP). The alternative dual problems which can be traced to the alternative primal representations, lead to stochastic analogs of standard deterministic constructs such as conjugate functions and Lagrangians. One of the by-products of this approach is that the development does not depend on ...

We consider nonlinear multistage stochastic optimization problems in the spaces of integrable functions. allow for dynamics and general objective functionals, including dynamic risk measures. study causal operators describing system derive Clarke subdifferential a penalty function involving such operators. Then we introduce concept subregular recourse establish subregularity resulting systems t...