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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    Title :

    Solving multi-objective optimization formulation for fleet planning in a railway industry



    Published in:

    Publication date :

    2010-02-12


    Size :

    13 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English




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