Hyperpath Truck Routing in an Online Freight Exchange Platform
| Autor: | Yu Marco Nie, Xiaobo Liu, John Miller |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Truck
050210 logistics & transportation Leverage (finance) Operations research Computer science 05 social sciences Transportation 010501 environmental sciences 01 natural sciences Supply and demand 0502 economics and business Markov decision process 0105 earth and related environmental sciences Civil and Structural Engineering |
| Zdroj: | Transportation Science. 54:1676-1696 |
| ISSN: | 1526-5447 0041-1655 |
| DOI: | 10.1287/trsc.2020.0989 |
| Popis: | Online freight exchange (OFEX) platforms serve the purpose of matching demand and supply for freight in real time. This paper studies a truck routing problem that aims to leverage the power of an OFEX platform. The OFEX routing problem is formulated as a Markov decision problem, which we solve by finding the bidding strategy at each possible location and time along the route that maximizes the expected profit. At the core of the OFEX routing problem is a combined pricing and bidding model that simultaneously (1) considers the probability of winning a load at a given bid price and current market competition, (2) anticipates the future profit corresponding to the current decision, and (3) prioritizes the bidding order among possible load options. Results from numerical experiments constructed using real-world data from a Chinese OFEX platform indicate that the proposed routing model could (1) improve a truck’s expected profit substantially, compared with the benchmark solutions built to represent the state of the practice, and (2) enhance the robustness of the overall profitability against the impact of market competition and spatial variations. |
| Databáze: | OpenAIRE |
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