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Author: Julian E. Pachon Publisher: ISBN: Category : Automobile leasing and renting Languages : en Pages : 256
Book Description
Car rental companies operate large fleets of vehicles in many locations throughout the United States. The demand varies at each location and changes throughout the year due to seasonality and special regional events. Hence, management strives to match their capacity to current and projected demand in order to maximize their yield via three decision-making modules. The first module involves the grouping of rental locations into clusters/pools (a pool is a group of car rental locations that shares a fleet of vehicles). The second, is a process in which decisions are made for each pool about types and quantities of vehicles to be acquired from and returned to the contracted manufacturer along with the corresponding timing for these actions. The final decision module involves the short-term deployment of the fleet within each pool among the locations that compose it. A novel hierarchical framework that synthesizes the major modules of the entire decision-making process while capturing their interdependencies is defined. Furthermore, appropriate solution methodologies for all three problems taking into account the sequential nature of the hierarchical structure are developed. Finally, the application of the entire methodology is exhibited by a real case analysis for the State of Florida. This work is a first time effort in looking at some of these Revenue/Yield Management issues in the car rental industry in a holistic systematic fashion.
Author: Julian E. Pachon Publisher: ISBN: Category : Automobile leasing and renting Languages : en Pages : 256
Book Description
Car rental companies operate large fleets of vehicles in many locations throughout the United States. The demand varies at each location and changes throughout the year due to seasonality and special regional events. Hence, management strives to match their capacity to current and projected demand in order to maximize their yield via three decision-making modules. The first module involves the grouping of rental locations into clusters/pools (a pool is a group of car rental locations that shares a fleet of vehicles). The second, is a process in which decisions are made for each pool about types and quantities of vehicles to be acquired from and returned to the contracted manufacturer along with the corresponding timing for these actions. The final decision module involves the short-term deployment of the fleet within each pool among the locations that compose it. A novel hierarchical framework that synthesizes the major modules of the entire decision-making process while capturing their interdependencies is defined. Furthermore, appropriate solution methodologies for all three problems taking into account the sequential nature of the hierarchical structure are developed. Finally, the application of the entire methodology is exhibited by a real case analysis for the State of Florida. This work is a first time effort in looking at some of these Revenue/Yield Management issues in the car rental industry in a holistic systematic fashion.
Author: Korstanje, Maximiliano Publisher: IGI Global ISBN: 1799872890 Category : Business & Economics Languages : en Pages : 281
Book Description
The COVID-19 pandemic caused a disruption for many industries at its emergence, including the rental industry. The rental industry consists of more than just car rentals. It also includes Airbnb, house rentals, cruises, and other means of transport. This industry, which relies on tourism, was negatively affected by the travel restrictions that were put in place due to the pandemic. As such, it had to quickly adapt and grow to abide by the rules of the “new normal” in order to survive both during the pandemic, as well as implement new models and strategies that would help it to regain its success post-COVID-19. Socio-Economic Effects and Recovery Efforts for the Rental Industry: Post-COVID-19 Strategies is a critical reference book that discusses the effects of the COVID-19 pandemic on the rental industry and the ways in which the rental industry adapted under the new global restrictions affecting tourism. This book covers recovery efforts for the rental industry, analyzes global cases of the effects and adaptations the rental industry has undergone, and discusses the sociological aspects of the pandemic. While highlighting topics such as e-commerce, financial leasing, second home tourism, and sharing economies, this book is essential for executives, business owners, managers, rental agencies, ridesharing companies, academicians, researchers, and students interested in the current state of the rental industry and how it plans to overcome the challenges caused by the pandemic.
Author: Raquel J. Fonseca Publisher: Springer ISBN: 3319204300 Category : Business & Economics Languages : en Pages : 249
Book Description
This volume contains contributions from the 11th International Conference on Management Science (CMS 2014), held at Lisbon, Portugal, on May 29-31, 2014. Its contents reflect the wide scope of Management Science, covering different theoretical aspects for a quite diverse set of applications. Computational Management Science provides a unique perspective in relevant decision-making processes by focusing on all its computational aspects. These include computational economics, finance and statistics; energy; scheduling; supply chains; design, analysis and applications of optimization algorithms; deterministic, dynamic, stochastic, robust and combinatorial optimization models; solution algorithms, learning and forecasting such as neural networks and genetic algorithms; models and tools of knowledge acquisition, such as data mining; and all other topics in management science with the emphasis on computational paradigms.
Author: Peiling Wu Publisher: ISBN: Category : Business logistics Languages : en Pages : 314
Book Description
Determining the optimal size of a fleet, in general, involves decisions from three levels of hierarchy: strategic, tactical, and operational. While decisions based on each level have traditionally been examined separately, they are economically interdependent and must be analyzed simultaneously to minimize total costs over the planning horizon. This research addresses a rental fleet sizing problem (RFS) in the context of the truck rental industry, subject to uncertain customer travel time, and non-stationary customer demand that is dependent on geographical location, time, and the economic cycle of the industry. We integrate tactical (asset purchases and sales) and operational (empty truck movement and vehicle assignment) decisions, with the explicit incorporation of an asset age factor, to achieve lower cost solutions. The unique model has led to a Two-Phase algorithm solution approach to deal with large-scale RFS problems---Phase I Benders decomposition with the development of the demand-shifting feasibility algorithm allocates customer demand efficiently among available assets by asset type and age. Different initial demand allocation schemes and the benefits of the derived inequalities are discussed in regards to solution quality and computational performance. By taking advantage of the initial bounds and dual variables from the Benders procedure, Phase II Lagrangean relaxation further improves the solution convergence as well as reduces the computational expense. To apply subgradient optimization, a network flow sub-problem can be solved to convert Lagrangean lower bound solution as well as to update the upper bound. For practical large-sized problems, spatial aggregation is studied through p-median location analysis; also end-of-horizon effects are also examined on a numerical basis. Comprehensive computational studies are presented to show the good quality and efficiency of the algorithm, as well as scenario-based analysis to provide insights into the truck rental business. The solutions to this research consist of asset movement decisions for both loaded and empty trucks, and asset procurement/disposal decisions over time and location. Altogether, it provides rental transportation industry with an effective tactical/operational decision support tool.
Author: R. Tomasini Publisher: Springer ISBN: 0230233481 Category : Business & Economics Languages : en Pages : 188
Book Description
Imagine planning an event like the Olympics. Now imagine planning the same event but not knowing when or where it will take place, or how many will attend. This is what humanitarian logisticians are up against. Oversights result in serious consequences for the victims of disasters. So they have to get it right, fast.
Author: Meghan Ruth Busse Publisher: ISBN: Category : Personnel management Languages : en Pages : 15
Book Description
An industry adage held that "there are two types of rental car companies: those that lose money and Enterprise." The company that would become Enterprise Rent-A-Car was started in 1957 in St. Louis, Missouri, by Jack Taylor. Taylor set up Enterprise offices in neighborhoods rather than at airports because he believed that Americans would welcome a local option for renting cars when their own vehicles were being repaired. In 2010 Enterprise had more than 6,000 rental locations in the United States and a fleet of 850,000 cars in service. Its parent, Enterprise Holdings (comprising Enterprise, National, and Alamo brands) accounted for nearly half of the car rental market and was more than twice the size of Hertz, the number two competitor. Enterprise's competitive advantage was the result of the combination of its practices in hiring, training, compensation, organization, customer service, IT, and fleet management, among others.
Author: Steven Nahmias Publisher: McGraw-Hill ISBN: 9780071263702 Category : Production management Languages : en Pages : 789
Book Description
Production and Operations Analysis, 6/e by Steven Nahmias provides a survey of the analytical methods used to support the functions of production and operations management. This latest edition maintains the focus on continual process improvement while enhancing the technical content of the book. Both analytical methods centered on factory and service processes, as well as process issues across the supply chain, are included. As always, the text presents the most cutting-edge quantitative models used in operations in a clear, accessible manner. While the familiar structure and organization of the text remains the same as previous editions, the current edition includes several new topics aimed at enhancing the technical content of the book.
Author: Ricondo & Associates Publisher: Transportation Research Board ISBN: 030911814X Category : Business & Economics Languages : en Pages : 134
Book Description
TRB's Airport Cooperative Research Program (ACRP) Report 20: Strategic Planning in the Airport Industry explores practical guidance on the strategic planning process for airport board members, directors, department leaders, and other employees; aviation industry associations; a variety of airport stakeholders, consultants, and other airport planning professionals; and aviation regulatory agencies. A workbook of tools and sequential steps of the strategic planning process is provided with the report as on a CD. The CD is also available online for download as an ISO image or the workbook can be downloaded in pdf format.
Author: Julian E. Pachon
Author: Julian E. Pachon
Author: Korstanje, Maximiliano
Author: Gen-Han Wu
Author: Raquel J. Fonseca
Author: Peiling Wu
Author: 
Author: R. Tomasini
Author: Meghan Ruth Busse
Author: Steven Nahmias
Author: Ricondo & Associates