 A risk management system for sustainable fleet replacementAmir H. Ansaripoor, Fernando S. Oliveira and Anne Liret European Journal of Operational Research, 2014, vol. 237, issue 2, 701-712 Abstract: This article analyzes the fleet management problem faced by a firm when deciding which vehicles to add to its fleet. Such a decision depends not only on the expected mileage and tasks to be assigned to the vehicle but also on the evolution of fuel and CO2 emission prices and on fuel efficiency. This article contributes to the literature on fleet replacement and sustainable operations by proposing a general decision support system for the fleet replacement problem using stochastic programming and conditional value at risk (CVaR) to account for uncertainty in the decision process. The article analyzes how the CVaR associated with different types of vehicle is affected by the parameters in the model by reporting on the results of a real-world case study. Keywords: Decision support systems; Fleet replacement; Risk management; Stochastic programming; Sustainable operations; Conditional value at risk (CVaR) (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:237:y:2014:i:2:p:701-712 DOI: 10.1016/j.ejor.2014.02.006 Access Statistics for this article European Journal of Operational Research is currently edited by Roman Slowinski, Jesus Artalejo, Jean-Charles. Billaut, Robert Dyson and Lorenzo Peccati More articles in European Journal of Operational Research from Elsevier |
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