| Article ID: | iaor20108895 |
| Volume: | 181 |
| Issue: | 1 |
| Start Page Number: | 185 |
| End Page Number: | 197 |
| Publication Date: | Dec 2010 |
| Journal: | Annals of Operations Research |
| Authors: | Tavakkoli-Moghaddam Reza, Sayarshad Reza, Javadian Nikbakhsh, Forghani Nastaran |
| Keywords: | programming: multiple criteria |
In this paper, we propose a novel three-objective mathematical model and a solution procedure for optimizing fleet planning for rail-cars in a railway industry. These objectives are to: (1) minimize the sum of the cost related to service quality, (2) maximize profit calculated as the difference between revenues generated by serving customer demand and the combined costs of rail-car ownership and rail-car movement and, (3) minimize the sum of the rail-car fleet sizing, simultaneously. The Pareto optimal set is depicted and used for a trade-off analysis. A number of numerical examples are given to illustrate the presented model and solution methodology.