Applying Simulation to Estimate Waiting Times and Optimize the Booking Size for Oversea Transportation Vessels

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Abstract

The aim of this research is to determine the booking size for vessels in oversea delivery to minimize transportation costs. In the studied setting, a producer must book transportation space in advance, whereby the arrival processes for containers and vessels are stochastic. Analytical approaches of queueing theory are inconvenient in this case, and a discrete event simulation is therefore used to estimating the objective function. Moreover, the booking size is optimized for a static and a simple dynamic booking policy using a discretization of the solution space. The results show that the higher the variance in the shipping cycle, the higher is the optimal booking size and the total transportation costs. The dynamic booking policy significantly outperforms the static policy and indicates potential for future research.

Original languageEnglish
Title of host publicationProceedings of the 2022 Winter Simulation Conference, WSC 2022
EditorsB. Feng, G. Pedrielli, Y. Peng, S. Shashaani, E. Song, C.G. Corlu, L.H. Lee, E.P. Chew, T. Roeder, P. Lendermann
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages1603-1613
Number of pages11
ISBN (Electronic)9798350309713
DOIs
Publication statusPublished - 2022
Event2022 Winter Simulation Conference, WSC 2022 - Guilin, China
Duration: 11 Dec 202214 Dec 2022

Publication series

NameProceedings - Winter Simulation Conference
Volume2022-December
ISSN (Print)0891-7736

Conference

Conference2022 Winter Simulation Conference, WSC 2022
Country/TerritoryChina
CityGuilin
Period11.12.202214.12.2022

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