42142 Recent Research Results in Management Science F18

Alessio Trivella: "Meeting Corporate Renewable Power Targets" and David Koza: "Liner shipping service scheduling and cargo routing"

Title: Meeting corporate renewable power targets

Abstract: Large companies have recently started to incorporate renewable energy standards in their corporate sustainability goals. In this paper, we consider the problem of a company constructing a dynamic power procurement portfolio to satisfy a renewable power target at minimum cost using different short and long term contracts. The problem is formulated as an intractable stochastic dynamic program which has high-dimensional endogenous and exogenous components in its state and is hard to solve by existing approximate dynamic programming methods. To overcome this intractability, we consider the information relaxation approach that is typically used to obtain dual bounds, and develop a novel dual reoptimization scheme that extracts a procurement policy from the information relaxation by looking at the action distribution over Monte Carlo sample paths of the uncertainty. We find that our dual reoptimization approach outperforms commonly used primal reoptimization methods and simple heuristics on realistic instances.

Title: Liner shipping service scheduling and cargo allocation

Tactical service scheduling and operational cargo allocation are two interdependent problems in liner shipping. The schedules and sailing speeds of individual liner shipping services and the synchronization among all services determine the transit times of containers through a liner shipping network. On the other hand, the market demand in terms of container volume and expected transit times between origin and destination ports drive the schedule design of liner shipping services.
We present a graph-based model and a branch-and-price algorithm to solve the combined problem. The goal is to minimize the difference between fuel consumption costs and revenues from transporting containers under consideration of transit time limits. We further model fuel consumption not only as a function of speed, but also payload. Results are presented for four liner shipping networks.

Please notice that the seminar starts at 15:00 to make it easier for people from industry and other universities to attend. Moreover, people will be more motivated to have chocolate cookies late in the afternoon instead of right after lunch.

If there is only one talk, the presentation may take up to 45 minutes, while if we have two talks they should take 30 minutes each. Feel free to come - there is coffee/tee and chocolate cookies. After the talk there is time for discussion and networking.

Tidspunkt

tor 17 maj 18
15:00 - 16:30

Arrangør

DTU Management Engineering

Hvor

Produktionstorvet building 424, Room 123, 1st floor, 2800 Kgs. Lyngby