Journal article

A co-evolutionary matheuristic for the car stochastic problem

Beatriz B Oliveira, Maria Antonia Carravilla, Jose F Oliveira, Alysson M Costa

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH | ELSEVIER | Published : 2019

Abstract

When planning a selling season, a car rental company must decide on the number and type of vehicles in the fleet to meet demand. The demand for the rental products is uncertain and highly price-sensitive, and thus capacity and pricing decisions are interconnected. Moreover, since the products are rentals, capacity “returns”. This creates a link between capacity with fleet deployment and other tools that allow the company to meet demand, such as upgrades, transferring vehicles between locations or temporarily leasing additional vehicles. We propose a methodology that aims to support decision-makers with different risk profiles plan a season, providing good solutions and outlining their abilit..

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Grants

Awarded by National Funds through the Portuguese funding agency, FCT - Fundacao para a Ciencia e a Tecnologia


Funding Acknowledgements

This work is partially financed by the ERDF European Regional Development Fund through the Operational Programme for Competitiveness and Internationalisation - COMPETE 2020 Programme and by National Funds through the Portuguese funding agency, FCT - Fundacao para a Ciencia e a Tecnologia within project "POCI-01-0145-FEDER-029279".