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Author: Kannapha Amaruchkul

Affiliation: National Institute of Development Administration (NIDA), Thailand

Keyword(s): Newsvendor model, Rail freight, Stochastic Model Applications in logistics management.

Related Ontology Subjects/Areas/Topics: Applications ; e-Business ; Enterprise Information Systems ; Inventory Theory ; Logistics ; Methodologies and Technologies ; Operational Research ; OR in Transportation ; Pattern Recognition ; Software Engineering

Abstract: A long-term contract between a railroad company and a shipper who wants to transport gasoline daily is studied. The contract specifies an upfront payment for reserving bogies and a per-container freight rate. The shipper also uses a trucking company to transport the excess demand, but its per-liter transportation cost is higher. The shipper’s problem is to determine the number of bogies to reserve at the beginning of the contract duration, before daily demand is revealed. Since demand is perishable, we formulate the problem as a newsvendor model. The expected cost function is not convex. We show that the expected cost is unimodal and derive an optimal solution under certain conditions, which are not very restrictive. We also provide a sensitivity analysis with respect to the change in the contract parameter.

CC BY-NC-ND 4.0

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Paper citation in several formats:
Amaruchkul, K. (2015). Newsvendor Model in Rail Contract to Transport Gasoline in Thailand. In Proceedings of the International Conference on Operations Research and Enterprise Systems - ICORES; ISBN 978-989-758-075-8; ISSN 2184-4372, SciTePress, pages 237-246. DOI: 10.5220/0005198102370246

@conference{icores15,
author={Kannapha Amaruchkul.},
title={Newsvendor Model in Rail Contract to Transport Gasoline in Thailand},
booktitle={Proceedings of the International Conference on Operations Research and Enterprise Systems - ICORES},
year={2015},
pages={237-246},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005198102370246},
isbn={978-989-758-075-8},
issn={2184-4372},
}

TY - CONF

JO - Proceedings of the International Conference on Operations Research and Enterprise Systems - ICORES
TI - Newsvendor Model in Rail Contract to Transport Gasoline in Thailand
SN - 978-989-758-075-8
IS - 2184-4372
AU - Amaruchkul, K.
PY - 2015
SP - 237
EP - 246
DO - 10.5220/0005198102370246
PB - SciTePress