01764171

Component

http://Optimization of Mu...riod Rail Procurement Plan

Rail is one of the most expensive assets in railway infrastructure. Hence, a well-prepared rail procurement plan could benefit the asset management. For metro system in Taiwan, the rail procurement problem includes two major uncertainties, namely, currency rates and the global steel price. In this study, the authors propose a scenario-generation process, deterministic and stochastic optimization models, to minimize the expected cost of the rail procurement plan. Results demonstrate that the proposed model can successfully incorporate the uncertainties and obtain the optimal procurement plan. The sensitivity analysis on budget, storage capacity, and expiration period also provides the metro operator the best strategy to further lower the procurement cost. Adopting these models to rail procurement problems can improve the process and results of rail asset management.

This paper was sponsored by TRB committee AR050 Standing Committee on Railroad Infrastructure Design and Maintenance.

TRBAM-21-02170

English

19p

2021

Transportation Research Board 100th Annual Meeting

Digital/other

Figures; References (16) ; Tables

Asset management; Capital investments; Infrastructure; Procurement; Railroad facility operations

Taiwan

Economics; Operations and Traffic Management; Railroads

Transportation Research Board Annual Meeting 2021 Paper #TRBAM-21-02170

TRIS, TRB, ATRI

Dec 23 2020 11:21AM