Spot Market versus Full Charter Fleet: Decision support for full truck load tenders

V. Ghilas; I. Hedtke; J. Weise; Tom van Woensel

doi:10.1016/j.ejdp.2022.100022

Spot Market versus Full Charter Fleet: Decision support for full truck load tenders

V. Ghilas
, I. Hedtke (Corresponding author)
, J. Weise
, Tom van Woensel

Research output: Contribution to journal › Article › Academic › peer-review

2 Citations (Scopus)

136 Downloads (Pure)

Abstract

Given the dynamics of today’s markets, decision support based on advanced analytics is required to help market players keep their top position. This paper presents an approach to help business decision-makers gain market share by providing competitive tender offers for Full Truck Load (FTL) services. In particular, we compare operating a fleet of full charter trucks (FCT), using Spot-Market (SM) capacity and a mixture of both options against each other. A Pickup and Delivery Problem is modeled, and solved using an Adaptive Large Neighborhood Search heuristic. Computational results indicate strong service benefits combining FCT and SM usage. Numerical experiments are presented in detail to support the findings. Additionally, a real-life case study originating from DB Schenker is presented.

Original language	English
Article number	100022
Number of pages	10
Journal	EURO Journal on Decision Processes
Volume	10
DOIs	https://doi.org/10.1016/j.ejdp.2022.100022
Publication status	Published - Jan 2022

Keywords

Dynamic routing
Fleet sizing
Full truck load
Pickup and delivery problem with time windows
Tender support

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10.1016/j.ejdp.2022.100022

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Cite this

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title = "Spot Market versus Full Charter Fleet: Decision support for full truck load tenders",

abstract = "Given the dynamics of today{\textquoteright}s markets, decision support based on advanced analytics is required to help market players keep their top position. This paper presents an approach to help business decision-makers gain market share by providing competitive tender offers for Full Truck Load (FTL) services. In particular, we compare operating a fleet of full charter trucks (FCT), using Spot-Market (SM) capacity and a mixture of both options against each other. A Pickup and Delivery Problem is modeled, and solved using an Adaptive Large Neighborhood Search heuristic. Computational results indicate strong service benefits combining FCT and SM usage. Numerical experiments are presented in detail to support the findings. Additionally, a real-life case study originating from DB Schenker is presented.",

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T2 - Decision support for full truck load tenders

AU - Ghilas, V.

AU - Hedtke, I.

AU - Weise, J.

AU - van Woensel, Tom

PY - 2022/1

Y1 - 2022/1

N2 - Given the dynamics of today’s markets, decision support based on advanced analytics is required to help market players keep their top position. This paper presents an approach to help business decision-makers gain market share by providing competitive tender offers for Full Truck Load (FTL) services. In particular, we compare operating a fleet of full charter trucks (FCT), using Spot-Market (SM) capacity and a mixture of both options against each other. A Pickup and Delivery Problem is modeled, and solved using an Adaptive Large Neighborhood Search heuristic. Computational results indicate strong service benefits combining FCT and SM usage. Numerical experiments are presented in detail to support the findings. Additionally, a real-life case study originating from DB Schenker is presented.

AB - Given the dynamics of today’s markets, decision support based on advanced analytics is required to help market players keep their top position. This paper presents an approach to help business decision-makers gain market share by providing competitive tender offers for Full Truck Load (FTL) services. In particular, we compare operating a fleet of full charter trucks (FCT), using Spot-Market (SM) capacity and a mixture of both options against each other. A Pickup and Delivery Problem is modeled, and solved using an Adaptive Large Neighborhood Search heuristic. Computational results indicate strong service benefits combining FCT and SM usage. Numerical experiments are presented in detail to support the findings. Additionally, a real-life case study originating from DB Schenker is presented.

KW - Dynamic routing

KW - Fleet sizing

KW - Full truck load

KW - Pickup and delivery problem with time windows

KW - Tender support

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DO - 10.1016/j.ejdp.2022.100022

M3 - Article

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VL - 10

JO - EURO Journal on Decision Processes

JF - EURO Journal on Decision Processes

M1 - 100022

ER -

Spot Market versus Full Charter Fleet: Decision support for full truck load tenders

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