Car rental logistics problem: A review of literature

Optimal Fleet Policy of Rental Vehicles with Relocation: A Simulation Study

“…Pachon et al [12] and Yang et al [15] suggest that nodes should be segmented or clustered into several smaller pools, and then, feet composition is determined separately for each individual pool. Although there is no precise method used within the industry to segment locations into pools, geographic proximity and demand variability have been identifed as essential factors to take into consideration [12,14,16].…”

“…Although there is no precise method used within the industry to segment locations into pools, geographic proximity and demand variability have been identifed as essential factors to take into consideration [12,14,16]. Pachon et al [12] suggest that the segmentation of pools is static, whereas Yang et al [15] argue it should be dynamic. Irrespective of the approach taken, each pool operates a feet that is shared among the intrapool nodes, without allowing for any interpool vehicle movements.…”

“…Determining the optimal feet composition for a given planning horizon is generally based on a combination of parameters for historical performance and predicted demand [13,15]. Such parameters include historical sales data, the number of reservations turned down, estimated utilisation based on current and forecasted feet size, operational expenses, and expected revenue per car [15,[19][20][21][22]. While performance-based measures are primarily taken into consideration, the lifecycle of the vehicle is also considered, particularly in frms with a higher proportion of leased feet.…”