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Conference Paper
Stochastic programming method for volatile resource distribution problem
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- Authors
- SangJoon Lee, HyunYong Lee, Seok Kap Ko
- Issue Date
- 2024-10
- Citation
- International Conference on Information and Communication Technology Convergence (ICTC) 2024, pp.936-939
- Publisher
- IEEE
- Language
- English
- Type
- Conference Paper
- Abstract
- Resource distribution is an important problem in many fields. It is particularly important when the supplied resource is volatile and the individual distinct demands are stochastic. In such cases, the uncertainty of demands must be put into consideration for both economic and resource efficiency. We first present a practical case of such problem with a fuel cell plant waste heat energy utilization issue, then generalize this problem into a stochastic programming problem, and develop a numerical framework that can determine the distribution profile for optimal efficiency. We compare experimental results with distribution profile computed by deterministic algorithm. The stochastic method yields greater expected revenue in more than 99% of cases with average improvement of 1% over the deterministic method. We also discuss the computation time of our method.
- KSP Keywords
- Deterministic method, Distribution problem, Expected revenue, Heat energy utilization, Optimal efficiency, Programming method, Resource distribution, Stochastic Method, Stochastic programming, computation time, deterministic algorithm