Year-end Sale % OFF 
Abstract
This work expounds on implementing an effective dynamic (s,S) policy to solve a liner shipping refueling and speed determination problem under both bunker prices and consumption uncertainties. While solving an optimization model which incorporates a continuous distribution is extremely challenging, we use sample average approximation method to solve it. However, the resulting problem is still a very large-scaled problem. Therefore, we propose two variations of the progressive hedging algorithm to tackle it. Numerical results show that our solution method is efficient and, in addition, our dynamic (s,S) policy model has significant cost reduction potential compared to stationary models.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Transportation Research Part E: Logistics and Transportation Review
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
