Successive linear approximation procedure for stochastic, dynamic vehicle allocation problems

Linos F. Frantzeskakis, Warren Buckler Powell

Research output: Contribution to journalArticlepeer-review

103 Scopus citations

Abstract

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.

Original languageEnglish (US)
Pages (from-to)40-57
Number of pages18
JournalTransportation Science
Volume24
Issue number1
DOIs
StatePublished - Jan 1 1990

All Science Journal Classification (ASJC) codes

  • Transportation

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