Journal article
The Fleet Design Problem
The Engineering economist, Vol.38(2), pp.83-98
1993
DOI: 10.1080/00137919308903089
Abstract
Managing a fleet of vehicles requires procuring and replacing capital equipment like buses or planes that provide transportation services. Replacement costs exhibit economies of scale while maintenance costs exhibit dis-economies of scale. This paper makes three contributions. First, it develops the first formal models for determining optimal steady-state fleei designs. Second, it gives a well-defined and consistent definition of optimality for steady-state fleet designs. Third, it characterizes optimal steady-state fleet designs by showing that all replacement groups must be equally sized. This result makes computing optimal steady-state fleet designs possible since the computational effort is independent of the size of the fleet.
Details
- Title: Subtitle
- The Fleet Design Problem
- Creators
- P.C. Jones - Northwestern UniversityJ.L. Zydiak - Loyola University Chicago
- Resource Type
- Journal article
- Publication Details
- The Engineering economist, Vol.38(2), pp.83-98
- DOI
- 10.1080/00137919308903089
- ISSN
- 0013-791X
- eISSN
- 1547-2701
- Publisher
- Taylor & Francis Group
- Number of pages
- 16
- Language
- English
- Date published
- 1993
- Academic Unit
- Business Analytics
- Record Identifier
- 9984963106702771
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