Please use this identifier to cite or link to this item:
|Title:||A revenue management model for sea cargo|
|Authors:||Lee, L.H. |
Stochastic dynamic programming
|Citation:||Lee, L.H.,Chew, E.P.,Sim, M.S. (2009). A revenue management model for sea cargo. International Journal of Operational Research 6 (2) : 195-222. ScholarBank@NUS Repository. https://doi.org/10.1504/IJOR.2009.026535|
|Abstract:||In this paper, we introduce a revenue management model for an ocean carrier with two classes of orders, namely the ad hoc orders and the contractual orders. When the contractual order is accepted, the carrier can either deliver it immediately or postpone to the next ship on the shipping schedule. This problem is formulated as a stochastic dynamic programming model. We show the existence of the optimal threshold policy. Some important properties of the threshold policy are discussed. Finally, the numerical result shows that the percentage improvement of the threshold policy over an existing policy may be as high as 199%. Copyright © 2009, Inderscience Publishers.|
|Source Title:||International Journal of Operational Research|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Feb 20, 2019
checked on Feb 2, 2019
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.