TY - JOUR
T1 - Successive linear approximation procedure for stochastic, dynamic vehicle allocation problems
AU - Frantzeskakis, Linos F.
AU - Powell, Warren Buckler
PY - 1990
Y1 - 1990
N2 - The Stochastic Dynamic Vehicle Allocation problem involves managing of fleet of vehicles over time in an uncertain demand environment to maximize expected total profits. The problem is formulated as a Stochastic Programming problem. A new heuristic algorithm is developed and is contrasted to various deterministic approximations. The paper presents computational results that were obtained by employing a Rolling Horizon Procedure to simulate the operation of the truckload carrier. Results indicate the superiority of the new algorithm over other approaches tested.
AB - The Stochastic Dynamic Vehicle Allocation problem involves managing of fleet of vehicles over time in an uncertain demand environment to maximize expected total profits. The problem is formulated as a Stochastic Programming problem. A new heuristic algorithm is developed and is contrasted to various deterministic approximations. The paper presents computational results that were obtained by employing a Rolling Horizon Procedure to simulate the operation of the truckload carrier. Results indicate the superiority of the new algorithm over other approaches tested.
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U2 - 10.1287/trsc.24.1.40
DO - 10.1287/trsc.24.1.40
M3 - Article
AN - SCOPUS:0025388562
SN - 0041-1655
VL - 24
SP - 40
EP - 57
JO - Transportation Science
JF - Transportation Science
IS - 1
ER -