Optimization Models and Solution Algorithms for Freight Routing Planning Problem in the Multi-Modal Transportation Networks: A Review of the State-of-the-Art
Yan Sun*, 1, 2, Maoxiang Lang*, 1, 2, Danzhu Wang2
Identifiers and Pagination:Year: 2015
First Page: 714
Last Page: 723
Publisher Id: TOCIEJ-9-714
Article History:Received Date: 19/3/2015
Revision Received Date: 14/5/2015
Acceptance Date: 21/5/2015
Electronic publication date: 17/9/2015
Collection year: 2015
open-access license: This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 International Public License (CC-BY 4.0), a copy of which is available at: https://creativecommons.org/licenses/by/4.0/legalcode. This license permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
With the remarkable development of international trade, global commodity circulation has grown significantly. To accomplish commodity circulation among various regions and countries, multi-modal transportation scheme has been widely adopted by a large number of companies. Meanwhile, according to the relevant statistics, the international logistics costs reach up to approximate 30-50% of the total production cost of the companies. Lowering the transportation costs has become one of the most important sources for a company to raise profits and maintain competitiveness in the global market. Thus, how to optimize freight routes selection to move commodities through the multi-modal transportation network has gained great concern of both the decision makers of the companies and the multi-modal transport operators. In this study, we present a systematical review on the multi-modal transportation freight routing planning problem from the aspects of model formulation and algorithm design. Following contents are covered in this review: (1) distinguishing the formulation characteristics of various optimization models; (2) identifying the optimization models in recent studies according to the formulation characteristics; and (3) discussing the solution approaches that are developed to solve the optimization models, especially the heuristic algorithms.