Abstract
In this paper, we consider the sea cargo mix problem in international ocean container shipping industry. We describe the characteristics of the cargo mix problem for the carrier in a multi-period planning horizon, and formulate it as a multi-dimensional multiple knapsack problem (MDMKP). In particular, the MDMKP is an optimization model that maximizes the total profit generated by all freight bookings accepted in a multi-period planning horizon subject to the limited shipping capacities. We propose two heuristic algorithms that can solve large scale problems with tens of thousands of decision variables in a short time. Finally, numerical experiments on a wide range of randomly generated problem instances are conducted to demonstrate the efficiency of the algorithms.
Original language | English |
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Pages (from-to) | 1381-1393 |
Number of pages | 13 |
Journal | European Journal of Operational Research |
Volume | 180 |
Issue number | 3 |
DOIs | |
Publication status | Published - 1 Aug 2007 |
Externally published | Yes |
Keywords
- 0-1 integer program
- Heuristic algorithm
- Logistics
- Sea cargo mix
ASJC Scopus subject areas
- Modelling and Simulation
- Management Science and Operations Research
- Information Systems and Management