A decision support methodology for strategic planning in maritime transportation
AbstractThis paper presents a decision support methodology for strategic planning in tramp and industrial shipping. The proposed methodology combines simulation and optimization, where a Monte Carlo simulation framework is built around an optimization-based decision support system for short-term routing and scheduling. The simulation proceeds by considering a series of short-term routing and scheduling problems using a rolling horizon principle where information is revealed as time goes by. The approach is flexible in the sense that it can easily be configured to provide decision support for a wide range of strategic planning problems, such as fleet size and mix problems, analysis of long-term contracts and contract terms. The methodology is tested on a real case for a major Norwegian shipping company. The methodology provided valuable decision support on important strategic planning problems for the shipping company.
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Bibliographic InfoArticle provided by Elsevier in its journal Omega.
Volume (Year): 38 (2010)
Issue (Month): 6 (December)
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/375/description#description
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