Dynamic and stochastic models for the allocation of empty containers
Operations Research
A tabu search procedure for multicommodity location/allocation with balancing requirements
Annals of Operations Research - Special issue on Tabu search
Hierarchical decision making in stochastic manufacturing systems
Hierarchical decision making in stochastic manufacturing systems
A DSS for empty container distribution planning
Decision Support Systems
Continuous-time Markov chains and applications: a singular perturbation approach
Continuous-time Markov chains and applications: a singular perturbation approach
Empty container management in a port with long-run average criterion
Mathematical and Computer Modelling: An International Journal
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This paper is concerned with an optimal policy for empty container repositions. A single port is considered. The demand is modeled as a two-state Markov chain. The objective is to transport in and out containers so as to minimize the discounted holding, leasing, and repositioning costs. In this paper, the flow of containers is treated as though it is a continuous fluid. Dynamic programming is used to solve the optimal control problem. The associated HJB equations are used to characterize the value functions. The optimal policies are given in terms of threshold levels. Closed-form solutions of these threshold levels are obtained. Sufficient conditions are given in the form of a verification theorem. Numerical examples are reported to demonstrate the results.