A two-stage heuristic approach for fleet management optimization under time-varying demand

Title:	A two-stage heuristic approach for fleet management optimization under time-varying demand
Authors:	Zhang, L Gu, W Fu, L Mei, Y Hu, Y
Issue Date:	Mar-2021
Source:	Transportation research. Part E, Logistics and transportation review, Mar. 2021, v. 147, 102268, p. 1-20
Abstract:	An efficient two-stage heuristic approach is developed for solving the fleet management problem under time-varying demand. Stage 1 of the approach optimizes the vehicles’ utilization schedule. Continuous-time approximation is employed to yield a set of near-optimality conditions that can greatly reduce the solution space of this stage. Stage 2 then optimizes the vehicle purchase and retirement schedules. Numerical experiments showed that our approach outperformed a number of previous methods and commercial solvers by large margins in terms of solution quality, computational efficiency, or both.
Keywords:	Continuous-time approximation First-order condition Time-varying demand Two-stage optimization Vehicle fleet management
Publisher:	Pergamon Press
Journal:	Transportation research. Part E, Logistics and transportation review
ISSN:	1366-5545
EISSN:	1878-5794
DOI:	10.1016/j.tre.2021.102268
Appears in Collections:	Journal/Magazine Article

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