Solving multi-objective optimization formulation for fleet planning in a railway industry

Hamid Sayarshad (), Nikbakhsh Javadian, Reza Tavakkoli-Moghaddam and Nastaran Forghani

Annals of Operations Research, 2010, vol. 181, issue 1, 185-197

Abstract: In this paper, we propose a novel three-objective mathematical model and a solution procedure for optimizing fleet planning for rail-cars in a railway industry. These objectives are to: (1) minimize the sum of the cost related to service quality, (2) maximize profit calculated as the difference between revenues generated by serving customer demand and the combined costs of rail-car ownership and rail-car movement and, (3) minimize the sum of the rail-car fleet sizing, simultaneously. The Pareto optimal set is depicted and used for a trade-off analysis. A number of numerical examples are given to illustrate the presented model and solution methodology. Copyright Springer Science+Business Media, LLC 2010

Keywords: Multi-objective model; Fleet planning; Rail-car size; Railway (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1007/s10479-010-0714-1

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