IEOR PhD candidate, Yoon Lee (PhD ’23 IEOR) has won the 2022 Hearts to Humanity Eternal (H2H8) research grant award for his research addressing inadequate access to clean water in developing countries. Lee’s research project is titled: Local Water Inventory Management for the Developing World, and offers the following abstract:
Cities in the developing world often lack water distribution networks that provide clean water throughout the day. This leads to water being stored for long durations, thereby exposing people to substantially increased bacterial and viral contamination. We consider the stochastic optimization problem of deciding how much water to store each day in the system, as well as determining when to completely empty the tank, in order to trade off: the financial costs of the water, the health costs implicit in long durations of storing the same water, the potential for a shortfall in the quantity of stored versus demanded water, and water wastage when emptying the system. Our results present sufficient conditions that ensure the optimal policy has an easily interpretable four-threshold structure that generalizes the (s, S) policy for classical inventory management problems.
Congratulations, Yoon Lee, on this exciting achievement!
Read about the Hearts to Humanity (H2H8) research grant here.