ABSTRACT
During the COVID-19 pandemic, governments are facing challenges in determining the optimal time to exit the lockdown in their countries. A trade-off between health-related aspects and economic aspects should be achieved.This paper uses a discrete-time Markov Chain (DTMC) SIS model to find the optimal time to stop the lockdown. Two models are proposed: Model 1 assumes that the reproduction number R is constant over time, while Model 2 considers that R is time-dependent. The analysis of Model 1 leads to simple optimal policies. © 2022 IEEE.
ABSTRACT
We briefly review the literature on the effect of the COVID-19 pandemic on supply chain decisions. We first review virus diffusion models to be able to understand COVID-19 virus behavior. Then, we review the related literature on modeling supply disruptions, emphasizing those related to pandemics such as COVID-19. We pay special attention to reviewing inventory management models, especially those based on the economic order quantity models, as they seem to offer a good starting point. Finally, we present ideas for future research. © 2021 IEEE.
ABSTRACT
This paper reviews the literature on the optimal stopping time problem as well as recent works that tackle the optimal policies during the current COVID-19 pandemic. We discuss possible research directions on optimal lockdown measures during the current pandemic, emphasizing the potential usage of the optimal stopping time theory. © 2021 IEEE.