De-risking Fleet Replacement Decisions

Liret, A.; Ansaripoor, Amir Hossein; Oliveira, F.

doi:10.1007/978-3-319-12069-0_12

Access Status

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Authors

Liret, A.

Ansaripoor, Amir Hossein

Oliveira, F.

Date

2014

Type

Book Chapter

Metadata

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Citation

Liret, A. and Ansaripoor, A.H. and Oliveira, F. 2014. De-risking Fleet Replacement Decisions. In Research and Development in Intelligent Systems XXXI, ed. M. Bramer, M. Petridis, 171-177. Switzerland: Springer International.

Source Title

Research and Development in Intelligent Systems XXXI

DOI

10.1007/978-3-319-12069-0_12

ISBN

978-3-319-12068-3

School

School of Information Systems

URI

http://hdl.handle.net/20.500.11937/40814

Collection

Curtin Research Publications

Abstract

This paper outlines the different modelling approaches for realizing sustainable operations of assetreplacement. We study the fleet portfolio management problem that could be faced by a firm deciding ahead which vehicles to choose for its fleet. In particular it suggests a model that enables generating a plan of vehicle replacement actions with cost minimization and risk exposure simulation. It proposes to use conditional value at risk (CVaR) to account for uncertainty in the decision process, and to use clusters modelling to align the generated plan with vehicle utilization.