Profit maximizing shipment consolidation with uncertain shipment requests

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2022-8

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Öztürk, Ergin

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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

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Citation Formats

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