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A GRASP Algorithm for the Vehicle-Reservation Assignment Problem

In: Computational Management Science

Author

Listed:
  • Beatriz Brito Oliveira

    (University of Porto)

  • Maria Antónia Carravilla

    (University of Porto)

  • José Fernando Oliveira

    (University of Porto)

Abstract

Car rental companies face a critical problem related to the empty repositions (or “deadheading trips”) of their vehicles, which comprise a significant and unnecessary financial and environmental impact. Especially when dealing with special types of vehicles whose number of units is small, the company is forced to empty reposition them between rental stations in order to meet reservations requirements concerning available time and location. This paper proposes a GRASP algorithm to generate a global vehicle schedule that maximizes the company’s profit whilst reducing the costs of empty transfers. Using real instances, the value of this approach is established.

Suggested Citation

  • Beatriz Brito Oliveira & Maria Antónia Carravilla & José Fernando Oliveira, 2016. "A GRASP Algorithm for the Vehicle-Reservation Assignment Problem," Lecture Notes in Economics and Mathematical Systems, in: Raquel J. Fonseca & Gerhard-Wilhelm Weber & João Telhada (ed.), Computational Management Science, edition 1, pages 63-71, Springer.
    • Handle: RePEc:spr:lnechp:978-3-319-20430-7_9
    DOI: 10.1007/978-3-319-20430-7_9
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