Price planning for time-definite less-than-truckload freight services
AbstractPrice planning simultaneous determines the service demand (with associated prices) and an operational plan to maximize a carrier's profit. We modeled this integral-constrained concave program in the link formulation and proposed an implicit enumeration embedded with Lagrangian Relaxation upper bounds to determine the optimal prices. Computations on Taiwan's time-definite less-than-truckload freight market showed that the carrier needs to simultaneously re-evaluate its network capacity while determining prices. The common practice of distance-based pricing that sets price by a base rate over direct shipment distance underestimates operating cost, specifically operating losses for short distance shipments.
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Bibliographic InfoArticle provided by Elsevier in its journal Transportation Research Part E: Logistics and Transportation Review.
Volume (Year): 45 (2009)
Issue (Month): 4 (July)
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/600244/description#description
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- Lin, Cheng-Chang & Lee, Shwu-Chiou, 2010. "The competition game on hub network design," Transportation Research Part B: Methodological, Elsevier, vol. 44(4), pages 618-629, May.
- Campbell, James F., 2013. "A continuous approximation model for time definite many-to-many transportation," Transportation Research Part B: Methodological, Elsevier, vol. 54(C), pages 100-112.
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