EconPapers    
Economics at your fingertips  
 

Restocking-Based Rollout Policies for the Vehicle Routing Problem with Stochastic Demand and Duration Limits

Justin C. Goodson (), Barrett W. Thomas () and Jeffrey W. Ohlmann ()
Additional contact information
Justin C. Goodson: Department of Operations and Information Technology Management, John Cook School of Business, Saint Louis University, St. Louis, Missouri 63108
Barrett W. Thomas: Department of Management Sciences, Tippie College of Business, University of Iowa, Iowa City, Iowa 52242
Jeffrey W. Ohlmann: Department of Management Sciences, Tippie College of Business, University of Iowa, Iowa City, Iowa 52242

Transportation Science, 2016, vol. 50, issue 2, 591-607

Abstract: We develop restocking-based rollout policies to make real-time, dynamic routing decisions for the vehicle routing problem with stochastic demand and duration limits . Leveraging dominance results, we develop a computationally tractable method to estimate the value of an optimal restocking policy along a fixed route. Embedding our procedure in rollout algorithms, we show restocking-based rollout outperforms a priori-based rollout, demonstrating the value of explicitly considering preemptive capacity replenishment in a rollout approach for dynamic routing. We also demonstrate the effectiveness of basic local search versus more sophisticated mechanisms for the heuristic component of the rollout procedure.

Keywords: stochastic vehicle routing; rollout policies; dynamic programming (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

Downloads: (external link)
http://dx.doi.org/10.1287/trsc.2015.0591 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:ortrsc:v:50:y:2016:i:2:p:591-607

Access Statistics for this article

More articles in Transportation Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().

 
Page updated 2025-03-19
Handle: RePEc:inm:ortrsc:v:50:y:2016:i:2:p:591-607