PhD Graduates Huh and Cakanyildirim and Their Advisor. Roundy, Win Top Research Paper Award
|Metin Cakanyildirim, Tim Huh and journal editor Barry Nelson following the prize presentation.|
A paper by two ORIE Ph.D. graduates and their advisor has one the Harold H. Kuhn Award as the best paper published in the last three years in the operations management journal Naval Research Logistics. The paper was written by Tim Huh Ph.D. '03, Metin Cakanyildirim Ph. D. '00 and Robin Roundy. It is called "A General Strategic Capacity Planning Model under Demand Uncertainty" and appears in volume 53 issue 2 of the journal, published in March 2006. The award was presented to Cakanyildirim and Huh at the November 2007 meeting of the Institute for Operations Research and the Management Sciences (INFORMS) in Seattle.
The paper deals determining when and in what order capital equipment should be purchased (or retired) by companies in industries (such as the semiconductor industry) that require expensive capital investments in tooling and face uncertainty in future demand. These decisions entail a tradeoff between capital costs and operating revenues, since too little capacity results in lost sales while too much capacity wastes capital resources. The model developed in the paper treats time as a continuous variable. Techniques from both the simulation and the network flow optimization literature are used in a heuristic algorithm to compute numeric solutions.
Professor Huh is a member of the faculty of Columbia University, in the Department of Industrial Engineering and Operations Research. Professor Cakanyildirim is a member of the faculty at the School of Management at the University of Texas at Dallas. Professor Roundy is currently on leave from ORIE while serving as president of a church mission in Barranquilla, Colombia.
The Kuhn Award was established in 2004 by Naval Research Logistics to recognize and reward outstanding research published in the journal in 1954. It is named after Professor Harold W. Kuhn of Princeton University, whose seminal paper on the 'assignment problem' was published in 1955, in the second volume of the journal.
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