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

Le Zhang, Weihua Gu, Liangliang Fu, Yu Mei, Yaohua Hu

Research output: Journal article publicationJournal articleAcademic researchpeer-review

2 Citations (Scopus)

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.

Original languageEnglish
Article number102268
JournalTransportation Research Part E: Logistics and Transportation Review
Volume147
DOIs
Publication statusPublished - Mar 2021

Keywords

  • Continuous-time approximation
  • First-order condition
  • Time-varying demand
  • Two-stage optimization
  • Vehicle fleet management

ASJC Scopus subject areas

  • Business and International Management
  • Civil and Structural Engineering
  • Transportation

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