Keynote Speakers

Michael Pinedo, “Planning and Scheduling in the Service Industries”

This talk focuses on current research directions in planning and scheduling in the service industries. The planning and scheduling models in services as well as the solution methodologies tend to be different from those used in manufacturing environments. We describe five classes of models and the current status quo. The first class considered includes interval scheduling models and reservation systems. The second class involves timetabling and tournament scheduling. The third class consists of transportation models (tanker scheduling, aircraft routing and scheduling and train timetabling). The fourth class of models concern planning and scheduling in health care. The fifth and last class are the workforce scheduling models. We conclude with a summary of the similarities and the differences between the model formulations and solution techniques that are used in these various different areas.

Michael Pinedo received the Ir. degree in Mechanical Engineering from the Delft University of Technology, the Netherlands, in 1973 and the M.Sc. and Ph.D. degrees in Operations Research from the University of California at Berkeley in 1978.

He is currently the Julius Schlesinger Professor of Operations Management and Chair of the Department of Information, Operations and Management Sciences in the Stern School of Business at New York University.

His research has taken various directions over the years. Initially, he focused on the performance analysis of stochastic systems. His current research focuses on the modeling and analysis of service systems, with a main focus on Total Quality Management (TQM) and Operational Risk.

He has written or jointly written numerous technical papers on these topics and is the author of several books (including, for example, ``Scheduling: Theory, Algorithms and Systems''), and is co-editor of ``Creating Value in Financial Services: Strategies, Operations, and Technologies'' (with Kluwer). He has also written a Tutorial in Operations Research on ``Total Quality Management and Operational Risk in the Service Industries'', published by the INFORMS society in 2008.

Over his career he has consulted extensively for manufacturing companies as well as financial services companies. He has been a consultant for many years at Goldman Sachs, advising the company concerning issues involving Operational Risk.

He is Editor of Journal of Scheduling (Wiley). He is currently associate editor of Management Science, associate editor of Naval Research Logistics, Department Editor of Production and

Operations Management (covering Service Operations), associate editor of Manufacturing and Services Operations Management, and Associate Editor of the Journal of Operational Risk.

Johan Beumee, “Financial Engineering, Past, Crisis & Future”

Johan Beumee is an ex-physicist/applied mathematician (Princeton PhD) who has been working in the investment banks and fund(s) for more than 16 years. He used to do research and teach in stochastic processes, mathematical statistic, time series analysis (ARIMA & variations), probability theory and control theory in a number of universities (Twente (Netherland), Princeton University (US) and Bosporus University, Turkey). His research in the financial industry among other things covered modelling time series with jumps (construction of a different risk neutral world), time subordinate stochastic processes (only applied to physics so far), tree constructions for pricing and simulation of financial indices using processes with stochastic volatility (a simple GARCH approach to stochastic volatility modelling).

After an initial period in Commodities Corporation (now Goldman Sachs) and JP Morgan he became Director of Financial Engineering for a mid-sized consulting company and thereafter worked as a consultant for numerous banks working on derivatives models, analyzing credit & market risk exposures and developing profitable positions in the credit and other markets. This entailed designing products/models in an effort to gain relative value (TAM/T4M option models, Bermudans ...) or providing unusual credit hedging services for interest rate products. His experience covers interest rate markets (unusual Swaptions, Bermudans, variable coupon products, etc.), commodity markets (metals, loan structures, Exchange, Asian and Bermudan Options, etc), equity and credit markets.

Currently he is a Senior Director in QFR for Fitch Solutions (part of the Fitch Group) analyzing cash and synthetic credit products (CDOs, RMBS, CLO, etc.), consulting Fitch clients on risk management clients and pricing credit and other market structures. He manages the QFR Group London and reports to the Head of QFR London, Damiano Brigo.