Time：2022年12月21日（Wednesday）18: 30-20: 30

Venue：Tencent Meeting：259-567-787

Speaker：Feng Qi, Professor,  Purdue university   

Host：Associate Professor Chen Jing

Topic：Operational Data Analytics for Newsvendors

Abstract:

Decision making with limited data is challenging.In this talk, we introduce the framework of operational data analytics (ODA) that integrates data to predictive or prescriptive solutions. This framework strikes a delicate balance between the (likely imprecise) structural knowledge and the data. The two pillars of the ODA framework are (i) a data-integration model that identifies the class of operational statistics based on the desired structural properties of the models within the domain of validation, and (ii) a validating model that appropriately utilize the data to validate the choice of the operational statistics.  Using the classical newsvendor model as an example, we show that the ODA framework generalizes the existing approaches including predict-then-optimize, regularized empirical optimization, robust optimization, robust satisfying, order statistics and smart-predict-and-optimize.

Guest Speaker

Qi Annabelle Feng is the John and Donna Krenicki Chair in Operations Management at Purdue Business School, Purdue University since 2014. Her current research interests lie in developing notions of stochastic functions and approaches for data-integrated decision making with the applications to supply chain management, service design, resource planning, and policy making. She was a Department Editor of Data Science, Stochastics and Optimization for Production and Operations Management, and is currently serving as the Department Editor of Supply Chain Management for Flexible Manufacturing and Service Journal, an Associate Editor for Operations Research, an Associate Editor for Management Science, and an Associate Editor for Manufacturing & Service Operations Management. She received the first prize in the INFORMS Junior Faculty Paper Competition in 2009, the Wickham Skinner Early-Career Research Accomplishment Award in 2012, and the Wickham Skinner Best Paper Award in 2018. She is a fellow of Production and Operations Management Society since 2020.