Analysing risk orientation in a stochastic VRP

Marc Reimann

doi:10.1504/EJIE.2007.014105

Analysing risk orientation in a stochastic VRP

Marc Reimann

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

Abstract

In this paper, the value of correctly addressing uncertainty and risk in operational planning is studied in the context of the Vehicle Routing Problem with Stochastic Demands (VRPSD). The main issues analysed in this paper concern (1) the evaluation of different risk attitudes in planning vehicle routes, (2) the value of considering the uncertainty for planning the vehicle routes (as opposed to dealing with the problem deterministically) in general and (3) the fit between the risk attitudes in performance measurement on the one hand and decision making on the other hand. Using an existing model of the VRPSD these issues are studied employing a heuristic solution approach based on Ant Colony Optimisation (ACO).

Original language	English
Pages (from-to)	111-130
Number of pages	20
Journal	European Journal of Industrial Engineering
Volume	1
Issue number	2
DOIs	https://doi.org/10.1504/EJIE.2007.014105
Publication status	Published - 2007

Keywords

operational planning
risk preferences
stochastic demands
vehicle routing

Access to Document

10.1504/EJIE.2007.014105

Cite this

@article{4a067b221d664d948864f20460cdfee3,

title = "Analysing risk orientation in a stochastic VRP",

abstract = "In this paper, the value of correctly addressing uncertainty and risk in operational planning is studied in the context of the Vehicle Routing Problem with Stochastic Demands (VRPSD). The main issues analysed in this paper concern (1) the evaluation of different risk attitudes in planning vehicle routes, (2) the value of considering the uncertainty for planning the vehicle routes (as opposed to dealing with the problem deterministically) in general and (3) the fit between the risk attitudes in performance measurement on the one hand and decision making on the other hand. Using an existing model of the VRPSD these issues are studied employing a heuristic solution approach based on Ant Colony Optimisation (ACO).",

keywords = "operational planning, risk preferences, stochastic demands, vehicle routing",

author = "Marc Reimann",

year = "2007",

doi = "10.1504/EJIE.2007.014105",

language = "English",

volume = "1",

pages = "111--130",

journal = "European Journal of Industrial Engineering",

issn = "1751-5254",

publisher = "Inderscience Enterprises Ltd",

number = "2",

}

TY - JOUR

T1 - Analysing risk orientation in a stochastic VRP

AU - Reimann, Marc

PY - 2007

Y1 - 2007

N2 - In this paper, the value of correctly addressing uncertainty and risk in operational planning is studied in the context of the Vehicle Routing Problem with Stochastic Demands (VRPSD). The main issues analysed in this paper concern (1) the evaluation of different risk attitudes in planning vehicle routes, (2) the value of considering the uncertainty for planning the vehicle routes (as opposed to dealing with the problem deterministically) in general and (3) the fit between the risk attitudes in performance measurement on the one hand and decision making on the other hand. Using an existing model of the VRPSD these issues are studied employing a heuristic solution approach based on Ant Colony Optimisation (ACO).

AB - In this paper, the value of correctly addressing uncertainty and risk in operational planning is studied in the context of the Vehicle Routing Problem with Stochastic Demands (VRPSD). The main issues analysed in this paper concern (1) the evaluation of different risk attitudes in planning vehicle routes, (2) the value of considering the uncertainty for planning the vehicle routes (as opposed to dealing with the problem deterministically) in general and (3) the fit between the risk attitudes in performance measurement on the one hand and decision making on the other hand. Using an existing model of the VRPSD these issues are studied employing a heuristic solution approach based on Ant Colony Optimisation (ACO).

KW - operational planning

KW - risk preferences

KW - stochastic demands

KW - vehicle routing

UR - https://www.scopus.com/pages/publications/84969449164

U2 - 10.1504/EJIE.2007.014105

DO - 10.1504/EJIE.2007.014105

M3 - Article

AN - SCOPUS:84969449164

SN - 1751-5254

VL - 1

SP - 111

EP - 130

JO - European Journal of Industrial Engineering

JF - European Journal of Industrial Engineering

IS - 2

ER -

Analysing risk orientation in a stochastic VRP

Abstract

Keywords

Access to Document

Other files and links

Fingerprint

Cite this