STOCHASTIC OPTIMIZATION MODEL
This week our team met with the representatives from Subros and Maruti for our second to last time before we leave for India. Our sequential stochastic model is finished and ready to go! We, meaning Graham, our data expert, essentially spent the weeks leading up until now slaving away in excel trying to find the best way to optimize Subros’ forecasting model. Our stochastic optimization model allows us to have two stages within the forecasting procedure during which we set up two separate stages of scenarios that will better help Subros forecast their demand. We confirmed our final assumptions about the company and the challenges they are facing, and we’ve developed a tool that will hopefully help them frame the problem in a new light; hopefully contributing to a future solution for Subros.
We presented all of our ideas to our class and explained the challenges we are seeking to address for the client, and we had some excitement from an unexpected visitor after the meeting.
We’ve also gotten a number of meetings with our counterparts scheduled for next week, and we had a team barbeque last Saturday to celebrate all the hard work we’ve accomplished.
Post written by Graham Hollander