Showing papers by "William W. Cooper published in 1971"
01 Jan 1971
TL;DR: In this article, chance-constrained programming was used for scheduling of heating oil production, storage, and distribution with weather-dependent demand in the context of a planning and operations model for the Standard Oil of New Jersey.
Abstract: Publisher Summary Chance-constrained programming is an extension of statistical method. Chance-constrained programming was originated in the context of developing a planning and operations model for the Standard Oil of New Jersey for the scheduling of heating oil manufacture, storage, and distribution with weather-dependent demand. The constrained game approach was not entirely satisfactory as an extension of statistical method. While the constraints on permissible (mixed) strategies of nature were substantially better than none at all, the remnant clairvoyant malevolence of nature implicit in the minimax solution did not seem appropriate to the behavior of weather. Another important consideration was that while the policy of the company as the major supplier of a product tinged with the national interest was to supply all emergent demand, one could determine random combinations of weather whose associated demand would be impossible for the company to meet from its available mechanisms or resources. It is clear that within these prescriptions, chance-constrained programming may be considered a method of tremendous flexibility with innumerable individual possible variations or models.
82 citations
TL;DR: The querulous and exaggerated tones which seem to attend so many contemporary activities have now been permitted an entrance to the pages of Management Science where they are amply represented in the article published by A. C. S. Ehrenberg.
Abstract: The querulous and exaggerated tones which seem to attend so many contemporary activities have now been permitted an entrance to the pages of Management Science where they are amply represented in the article published by A. S. C. Ehrenberg “Models of Fact: Examples from Marketing,” Management Science Vol 16, No. 7 March 1970, pp. 435--445.. The tone of Ehrenberg's article provides a warning that should naturally make anyone reluctant to attempt to reply to any of his criticisms or to question any of his claims. Some possibility for a productive response may be available, however, if one avoids a direct reply to Ehrenberg's claims and criticisms in order to respond by indicating possibilities and considerations other than those which Ehrenberg allows for in modeling, at least in management science.
2 citations