IDEAS home Printed from https://ideas.repec.org/a/gam/jmathe/v9y2021i24p3205-d700212.html
   My bibliography  Save this article

The Unit Re-Balancing Problem

Author

Listed:
  • Robin Dee

    (Institute of Mathematics, Brandenburgische Technische Universität Cottbus-Senftenberg, Platz der Deutschen Einheit 1, D-03046 Cottbus, Germany)

  • Armin Fügenschuh

    (Institute of Mathematics, Brandenburgische Technische Universität Cottbus-Senftenberg, Platz der Deutschen Einheit 1, D-03046 Cottbus, Germany)

  • George Kaimakamis

    (Faculty of Mathematics and Engineering Sciences, Hellenic Army Academy, Varis-Koropiou Av., 16673 Athens, Greece)

Abstract

We describe the problem of re-balancing a number of units distributed over a geographic area. Each unit consists of a number of components. A value between 0 and 1 describes the current rating of each component. By a piecewise linear function, this value is converted into a nominal status assessment. The lowest of the statuses determines the efficiency of a unit, and the highest status its cost. An unbalanced unit has a gap between these two. To re-balance the units, components can be transferred. The goal is to maximize the efficiency of all units. On a secondary level, the cost for the re-balancing should be minimal. We present a mixed-integer nonlinear programming formulation for this problem, which describes the potential movement of components as a multi-commodity flow. The piecewise linear functions needed to obtain the status values are reformulated using inequalities and binary variables. This results in a mixed-integer linear program, and numerical standard solvers are able to compute proven optimal solutions for instances with up to 100 units. We present numerical solutions for a set of open test instances and a bi-criteria objective function, and discuss the trade-off between cost and efficiency.

Suggested Citation

  • Robin Dee & Armin Fügenschuh & George Kaimakamis, 2021. "The Unit Re-Balancing Problem," Mathematics, MDPI, vol. 9(24), pages 1-19, December.
  • Handle: RePEc:gam:jmathe:v:9:y:2021:i:24:p:3205-:d:700212
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7390/9/24/3205/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2227-7390/9/24/3205/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Alex Maynard & Aaron Smallwood & Mark E. Wohar, 2013. "Long Memory Regressors and Predictive Testing: A Two-stage Rebalancing Approach," Econometric Reviews, Taylor & Francis Journals, vol. 32(3), pages 318-360, November.
    2. Paul, Nicholas R. & Lunday, Brian J. & Nurre, Sarah G., 2017. "A multiobjective, maximal conditional covering location problem applied to the relocation of hierarchical emergency response facilities," Omega, Elsevier, vol. 66(PA), pages 147-158.
    3. Lakshithe Wagalath, 2014. "Modelling the rebalancing slippage of leveraged exchange-traded funds," Quantitative Finance, Taylor & Francis Journals, vol. 14(9), pages 1503-1511, September.
    4. Matthias Ehrgott, 2005. "Multicriteria Optimization," Springer Books, Springer, edition 0, number 978-3-540-27659-3, December.
    5. Akihiko Takahashi & Yukihiro Tsuzuki, 2017. "Rebalancing static super-replications," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 4(01), pages 1-23, March.
    6. Schuijbroek, J. & Hampshire, R.C. & van Hoeve, W.-J., 2017. "Inventory rebalancing and vehicle routing in bike sharing systems," European Journal of Operational Research, Elsevier, vol. 257(3), pages 992-1004.
    7. Boyacı, Burak & Zografos, Konstantinos G. & Geroliminis, Nikolas, 2015. "An optimization framework for the development of efficient one-way car-sharing systems," European Journal of Operational Research, Elsevier, vol. 240(3), pages 718-733.
    8. Franco Peschiera & Robert Dell & Johannes Royset & Alain Haït & Nicolas Dupin & Olga Battaïa, 2021. "A novel solution approach with ML-based pseudo-cuts for the Flight and Maintenance Planning problem," OR Spectrum: Quantitative Approaches in Management, Springer;Gesellschaft für Operations Research e.V., vol. 43(3), pages 635-664, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alain Quilliot & Antoine Sarbinowski & Hélène Toussaint, 2021. "Vehicle driven approaches for non preemptive vehicle relocation with integrated quality criterion in a vehicle sharing system," Annals of Operations Research, Springer, vol. 298(1), pages 445-468, March.
    2. Ford, Stephen & Atkinson, Michael P. & Glazebrook, Kevin & Jacko, Peter, 2020. "On the dynamic allocation of assets subject to failure," European Journal of Operational Research, Elsevier, vol. 284(1), pages 227-239.
    3. Çelebi, Dilay & Yörüsün, Aslı & Işık, Hanife, 2018. "Bicycle sharing system design with capacity allocations," Transportation Research Part B: Methodological, Elsevier, vol. 114(C), pages 86-98.
    4. Haider, Zulqarnain & Nikolaev, Alexander & Kang, Jee Eun & Kwon, Changhyun, 2018. "Inventory rebalancing through pricing in public bike sharing systems," European Journal of Operational Research, Elsevier, vol. 270(1), pages 103-117.
    5. Fu, Chenyi & Zhu, Ning & Ma, Shoufeng & Liu, Ronghui, 2022. "A two-stage robust approach to integrated station location and rebalancing vehicle service design in bike-sharing systems," European Journal of Operational Research, Elsevier, vol. 298(3), pages 915-938.
    6. Haywood, Adam B. & Lunday, Brian J. & Robbins, Matthew J. & Pachter, Meir N., 2022. "The weighted intruder path covering problem," European Journal of Operational Research, Elsevier, vol. 297(1), pages 347-358.
    7. de Truchis, Gilles & Dell’Eva, Cyril & Keddad, Benjamin, 2017. "On exchange rate comovements: New evidence from a Taylor rule fundamentals model with adaptive learning," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 48(C), pages 82-98.
    8. Ahmed Kheiri & Alina G. Dragomir & David Mueller & Joaquim Gromicho & Caroline Jagtenberg & Jelke J. Hoorn, 2019. "Tackling a VRP challenge to redistribute scarce equipment within time windows using metaheuristic algorithms," EURO Journal on Transportation and Logistics, Springer;EURO - The Association of European Operational Research Societies, vol. 8(5), pages 561-595, December.
    9. Boyacı, Burak & Zografos, Konstantinos G., 2019. "Investigating the effect of temporal and spatial flexibility on the performance of one-way electric carsharing systems," Transportation Research Part B: Methodological, Elsevier, vol. 129(C), pages 244-272.
    10. Alessandro Avenali & Yuri Maria Chianese & Graziano Ciucciarelli & Giorgio Grani & Laura Palagi, 2019. "Profit optimization in one-way free float car sharing services: a user based relocation strategy relying on price differentiation and Urban Area Values," DIAG Technical Reports 2019-04, Department of Computer, Control and Management Engineering, Universita' degli Studi di Roma "La Sapienza".
    11. Shuang Liu & Kirsten Maclean & Cathy Robinson, 2019. "A cost-effective framework to prioritise stakeholder participation options," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 7(3), pages 221-241, November.
    12. Yichen Lu & Chao Yang & Jun Yang, 2022. "A multi-objective humanitarian pickup and delivery vehicle routing problem with drones," Annals of Operations Research, Springer, vol. 319(1), pages 291-353, December.
    13. Wu, Weitiao & Lin, Yue & Liu, Ronghui & Jin, Wenzhou, 2022. "The multi-depot electric vehicle scheduling problem with power grid characteristics," Transportation Research Part B: Methodological, Elsevier, vol. 155(C), pages 322-347.
    14. Huizhu Wang & Jianqin Zhou, 2023. "Location of Railway Emergency Rescue Spots Based on a Near-Full Covering Problem: From a Perspective of Diverse Scenarios," Sustainability, MDPI, vol. 15(8), pages 1-16, April.
    15. Yan, Pengyu & Yu, Kaize & Chao, Xiuli & Chen, Zhibin, 2023. "An online reinforcement learning approach to charging and order-dispatching optimization for an e-hailing electric vehicle fleet," European Journal of Operational Research, Elsevier, vol. 310(3), pages 1218-1233.
    16. Wenhao Yu & Yujie Chen & Menglin Guan, 2021. "Hierarchical siting of macro fire station and micro fire station," Environment and Planning B, , vol. 48(7), pages 1972-1988, September.
    17. Wagner, Sebastian & Brandt, Tobias & Neumann, Dirk, 2016. "In free float: Developing Business Analytics support for carsharing providers," Omega, Elsevier, vol. 59(PA), pages 4-14.
    18. Bogdana Stanojević & Milan Stanojević & Sorin Nădăban, 2021. "Reinstatement of the Extension Principle in Approaching Mathematical Programming with Fuzzy Numbers," Mathematics, MDPI, vol. 9(11), pages 1-16, June.
    19. Andersen, Torben G. & Varneskov, Rasmus T., 2021. "Consistent inference for predictive regressions in persistent economic systems," Journal of Econometrics, Elsevier, vol. 224(1), pages 215-244.
    20. Pelegrín, Mercedes & Xu, Liding, 2023. "Continuous covering on networks: Improved mixed integer programming formulations," Omega, Elsevier, vol. 117(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jmathe:v:9:y:2021:i:24:p:3205-:d:700212. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.