Probabilistic Planning Helps Master Supply Chain’s Unknowns

In our everyday lives, we often navigate uncertainty using a probabilistic approach without even realizing it. Take weather-dependent activities, for instance. When planning your weekend, you might check a 5-day weather forecast, which provides probabilities of rain, sunshine, or cloudy skies. Armed with this information, you make decisions like whether to have a picnic, garden or stay indoors.
Another example is commuting. Recently, Steve Banker wrote an article about  taking a flight and