Profit maximizing shipment consolidation with uncertain shipment requests

Download

erginozturk.pdf

Date

2022-8

Author

Öztürk, Ergin

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

281
views

143
downloads

In this study, a profit maximizing shipment consolidation problem is under consideration. There are multiple shippers characterized by uncertain shipment requests, who consolidate their orders and make dispatch decisions jointly, in order to maximize total profit. The problem is modeled as a continuous-time Markov Decision Process. For the two-shipper setting the structure of the optimal policy is characterized under certain conditions. For the multiple-shipper setting obtaining the optimal policy is difficult due to the curse of dimensionality. Heuristic policies are proposed and performance of the policies are evaluated.

Subject Keywords

Shipment consolidation, Markov decision process, Heuristics, Policy iteration method

URI

https://hdl.handle.net/11511/99543

Collections

Graduate School of Natural and Applied Sciences, Thesis

Suggestions

OpenMETU
Core

Optimal pricing and production decisions in utilizing reusable containers Atamer, Busra; Bakal, İsmail Serdar; Bayındır, Zeynep Pelin (2013-06-01) In this study, we focus on pricing and production decisions in utilizing reusable containers with stochastic customer demand. We consider a manufacturer that sells a single product to the customers in reusable containers with two supply options: (i) brand-new containers and (ii) returned containers from customers. The return quantity depends on both customer demand and the acquisition fee determined by the manufacturer. The unit cost of production using brand-new containers is different than the unit cost o...
Value of information through options contract under disruption risk Kole, Huseyin; Bakal, İsmail Serdar (2017-01-01) In this study, we consider the replenishment strategy of a buyer with two suppliers. Since its regular supplier is prone to disruptions, the buyer utilizes an options contract with a more expensive but perfectly reliable supply option. We introduce three models depending on the level of information available when the options from the reliable supplier are exercised: (i) Full information (both supply and demand information), (ii) partial information (only supply information), and (iii) no information. We der...
Value-based risk management in defense projects pricing with a robust optimization approach Aker, Kerime Özge; Meral, Fatma Sedef; Department of Industrial Engineering (2015) In this study, we address the bid pricing problem of a defense company facing with supply chain and financial risks due to long-term project planning. Creating shareholder value has become a quite popular topic in business as value-adding companies are the only ones to survive in the market. We formulate the problem as a value-based performance and risk management model through robust optimization approach in order to cope with various ambiguities over project lifecycle with possible discrete scenario set. ...
Local Decision-Making in multiple levels for lottery data analysis Beldek, U.; Leblebicioğlu, Mehmet Kemal (2011-01-01) Sales forecasting is a common problem in economics. Lottery sales are one of the favorite issues of sales forecasting. Sales of lottery tickets depend on many economical issues and such a problem was investigated previously (Beensock et al., 2002) where Genetic Programming is used in order to construct different agent structures that predict the number of ticket sales in Israel lottery. In each application in (Beensock et al., 2002), only a single agent is developed to predict the number of ticket sales at ...
Capacity allocation problem in flexible manufacturing systems: branch and bound based approaches ÖZPEYNİRCİ, SELİN; Azizoğlu, Meral (Informa UK Limited, 2009-01-01) This study considers an operation assignment and capacity allocation problem that arises in flexible manufacturing systems. The machines have limited time and tool magazine capacities and the available tools are limited. Our objective is to maximise total weight of assigned operations. We develop a branch and bound algorithm that finds the optimal solutions and a beam search algorithm that finds high quality solutions in polynomial time.

Citation Formats

E. Öztürk, “Profit maximizing shipment consolidation with uncertain shipment requests,” M.S. - Master of Science, Middle East Technical University, 2022.