Hyperpath Truck Routing in an Online Freight Exchange Platform

Author:

Miller John1ORCID,Nie Yu (Marco)2ORCID,Liu Xiaobo3

Affiliation:

1. Department of Management, United States Air Force Academy, United States Air Force Academy, Colorado 80840;

2. Department of Civil and Environmental Engineering, Northwestern University, Evanston, Illinois 60208;

3. School of Transportation and Logistics, Southwest Jiaotong University, Chengdu, Sichuan 610031, China

Abstract

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.

Publisher

Institute for Operations Research and the Management Sciences (INFORMS)

Subject

Transportation,Civil and Structural Engineering

Cited by 17 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3