Solving multi-objective optimization formulation for fleet planning in a railway industry |
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Authors: | Hamid Reza Sayarshad Nikbakhsh Javadian Reza Tavakkoli-Moghaddam Nastaran Forghani |
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Institution: | (1) Department of Industrial Engineering, Mazandaran University of Science and Technology, 16388-95114 Babol, Iran;(2) Center for Computer Aided Design, Virtual Soldier Research Program, University of Iowa, Iowa City, IA 52246, USA; |
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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. |
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Keywords: | |
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