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A parallelizable dynamic fleet management model with random travel times

9 years 1 months ago
A parallelizable dynamic fleet management model with random travel times
In this paper, we present a stochastic model for the dynamic fleet management problem with random travel times. Our approach decomposes the problem into time-staged subproblems by formulating it as a dynamic program and uses approximations of the value function. In order to deal with random travel times, the state variable of our dynamic program includes all individual decisions over a relevant portion of the history. We show how to approximate the value function in a tractable manner under this new high-dimensional state variable. Under our approximation scheme, the subproblem for each time period decomposes with respect to locations, making our model very appealing for large-scale applications. Numerical work shows that the proposed approach provides high-quality solutions and performs significantly better than standard benchmark methods.
Huseyin Topaloglu
Added 12 Dec 2010
Updated 12 Dec 2010
Type Journal
Year 2006
Where EOR
Authors Huseyin Topaloglu
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