An analysis of bid-price controls for network revenue management

Article Abstract:

A study was conducted to analyze bid-price controls for network revenue management. A general framework for the origin-destination control problem was developed and evaluated using dynamic programming. The level of sub-optimality of a bid-price control strategy was also examined by considering an upper bound based on the relaxation of the original problem. In addition, the failure of bid-price schemes to generate correct accept/deny decisions was analyzed. Results indicated that bid price control is not optimal in general. Findings also showed that bid-price controls are near optimal in specific cases and influenced by the bid prices. In addition, there where instances when bid-price controls were suboptimal.

Pricing Policy, Contract Administration, Research, Management, Usage, Pricing, Letting of contracts, Competitive bidding, Dynamic programming, Revenue, Contract management

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A subpath ejection method for the vehicle routing problem

Article Abstract:

A new heuristic algorithm for the vehicle routing problem (VRP) is developed. It has the same solution power obtained in the Tabu search framework and offers prompt, excellent solutions. The algorithm is unique because it considers a new neighborhood structure based on a subpath ejection chain method for deriving moves from one solution to a new solution. In addition, it is used without relying on related metaheuristic strategies in 'bookkeeping' functions rather than in the performance of advanced guidance roles. This analysis demonstrates that this very simple and uncomplicated application of the approach can perform on the same level as the best strategies that depend on metaheuristic guidance.

Algorithms, Calendar, Vehicles

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Minimum spillage sequencing

Article Abstract:

Real-time satellite signal data processing gives rise to the minimum spillage sequencing problem, creating the need for a set of numbers to be set so as to minimize the 'overflow' of the partial sums beyond an upper bond. Several heuristics are subjected to worst-case analysis, average-case analysis, and computational testing. Results indicate that although the problem is NP-hard, the problems can be managed effectively. Analysis highlights include a tight upper bond on the fraction of overflow.

Integer programming, Data processing, Electronic data processing

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