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Management Fall Seminar Series 2019

Friday, August 30, 2019
9:00 am

Management Fall Seminar Series 2019

The Sustainability Research and Teaching Committee will host guest speaker L. Beril Toktay.

Location:  Krannert Center 124

Date/Time: August 30, 2019, 9:00 – 10:00 am

Host:  Sustainability Research and Teaching Committee

Speaker: L. Beril Toktay, Brady Family Chair in Management

               Faculty Director, Ray C. Anderson Center for Sustainable Business, Georgia Tech

Title: A Perspective on Sustainable Operations

Abstract:   Dr. Toktay will talk about the range of opportunities for our community to define a
comprehensive  research  and  teaching  agenda  in  sustainable  operations.  I  will  combine 
this overview with a recent publication titled “Truthful Mechanisms for Medical Surplus
Allocation.” In  this  paper,  we  analyze  a  resource  allocation  problem  faced  by  Medical 
Surplus  Recovery Organizations  (MSROs)  that  recover  medical  surplus  products  to  fulfill 
the  needs  of  under- served healthcare facilities in developing countries. Due to the uncertain,
uncontrollable supply and limited information about recipient needs, delivering the right product
to the right recipient in  MSRO  supply  chains  is  particularly  challenging.  The  objective  of
 this  study  is  to  identify strategies to improve MSROs' value provision capability. In
particular, we propose a mechanism design approach, and determine which recipient to serve at each
shipping opportunity based on recipients'  reported  preference  rankings  of  different  products.
 We  find  that  when  MSRO inventory information is shared with recipients, the only truthful
mechanism is random selection among recipients, which defeats the purpose of eliciting information.
Consequently, we propose two operational strategies to improve MSROs' value provision: i) not
sharing MSRO inventory information  with  recipients;  and  ii)  withholding  information 
regarding  other  recipients.  We characterize  the  set  of  truthful  mechanisms  under  each 
setting,  and  show  that  eliminating inventory and competitor information provision both improve
MSROs' value provision. Further, we  investigate  the  value  of  cardinal  mechanisms  where 
recipients  report  their  valuations.  We show that in our setting, eliciting valuations has no
value added beyond eliciting rankings under a  wide  class  of  implementable  mechanisms. 
Finally,  we  present  a  calibrated  numerical  study based on historical data from a partner
MSRO, and show that a strategy consisting of a ranking- based  mechanism  in  conjunction  with 
eliminating  inventory  and  competitor  information  can significantly improve MSROs' value provision.

Speaker Bio:  Beril Toktay is Professor of Operations Management, Brady Family Chairholder and
ADVANCE Professor.  Her primary research areas are sustainable operations and supply chain
management.  Professor Toktay’s research has been funded by several National Science Foundation grants and has received distinctions such as the 2010 Brady Family Award for Faculty Research Excellence and the MSOM Society’s 2015 Management Science Best Paper in Operations
Management Award.

Her research articles have appeared in Management Science, M&SOM, Operations Research, Production
and Operations Management and Industrial Ecology.  She became a Distinguished Fell of the MSOM
Society in 2017.

Professor Toktay has taught Supply Chain Management courses at the PhD, MBA, and Executive
Education levels as well as Operations Management and Operations Research courses at the PhD level.  She has developed cases and pedagogical material for MBA and Executive Education audiences and co-
curricular educational initiatives at the undergraduate level. She currently teaches Business
Strategies for Sustainability in MBA and Executive Education programs. She's a recipient of the
2016 Ernest Scheller Jr. Award for Service Excellence and the Georgia Tech 2015 Women of
Distinction Award.

Professor Toktay served as Associate Editor for M&SOM (2007-2018), POM (2009-2013), and Management
Science (2011-2017), and Area Editor (Environment, Energy and Sustainability) for Operations
Research (2012-2018). She co-edited the M&SOM Special Issue on the Environment. She was the
President of the MSOM Society and VP of Finance of the POM Society. At Georgia Tech, she serves as
the Scheller College of Business ADVANCE Professor, a role that is focused on supporting the
advancement of women and underrepresented minorities in academia. She is the founding Faculty
Director of the Ray C. Anderson Center for Sustainable Business and the co-architect and Executive
Co-Director of Georgia Tech's Serve.Learn.Sustain Quality Enhancement Plan.

 

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