Abstract
In this paper, we consider the cargo mix problem under uncertainty in the container shipping industry. We seek to determine the optimal cargo mix in a multiperiod planning horizon with the objective of maximizing the total expected profit derived from all freight bookings received in the planning horizon. We present a two-stage stochastic integer programming model and propose a heuristic algorithm for multiperiod sea cargo mix problem under uncertainty. Finally, numerical experiments on a wide range of randomly generated problem instances are conducted to demonstrate the efficiency of the algorithm.
Original language | English |
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Pages (from-to) | 460-465 |
Number of pages | 6 |
Journal | IEEE Transactions on Systems, Man, and Cybernetics Part A:Systems and Humans |
Volume | 39 |
Issue number | 2 |
DOIs | |
Publication status | Published - 15 Jan 2009 |
Keywords
- Container shipping industry
- Heuristic algorithm (HA)
- Sea cargo mix
- Two-stage stochastic integer program
ASJC Scopus subject areas
- Control and Systems Engineering
- Electrical and Electronic Engineering
- Computer Science Applications
- Human-Computer Interaction
- Information Systems
- Software