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Keywords

Introduction

Methodology

The proposed methodology gives a step-wise way to find out the desired combination.

We have considered Load Factor a variable of time here. By applying regression analysis on the load factor

data of last 15 years, we found the following equation for calculating load factor for a particular year-

There are usually two classes of air seats- Business and Economy. However, considering the variety of

ticket prices offered, we have divided the seats into five categories- Premium, Business, Regular, Economic

and Promotional. Considering their proportion of the total seats, the average ticket price is found from

the following equation-

Where,

a, b , c, d and e are proportion of the total seats occupied by Premium, Business, Regular, Economic and

Promotional seats respectively. And 𝑅𝑝 , 𝑅𝑏 , 𝑅𝑟 , 𝑅𝑒 𝑎𝑛𝑑𝑅𝑝𝑟 are the ticket prices of those seat categories.

To be on par with the existing competitor airlines, the data of ticket prices in different routes have been

collected. And with the help of regression analysis, ticket price was expressed as a function of flight

distance through two equations-one for short haul and another for the long haul:

4. Calculation of Revenue

With the estimation of average revenue and load factor complete, we now move to calculation of total

revenue from a flight. The following equation expresses that-

𝑅𝑖𝑗 = 𝑅 × 𝐿𝐹 × 𝑠𝑗

Here,

s is the total number of seats in the aircraft

Cost of operating a flight has been estimated using the equation provided by Adler and Swan. The

equations express cost as a function of flight distance and number of seats in the aircraft-

With cost and revenue known for each route and aircraft, we can now calculate profit in each route-

aircraft combination. The formulation for both short and long route should be-

Now, we can focus on our prime target, which is to optimize the assignment of aircraft to different routes

in order to maximize profit. The formulation for the problem can be written as below-

𝑚 𝑛

𝑖=1 𝑗=1

𝑚 𝑛

𝑠. 𝑡. ∑ ∑ 𝑥𝑖𝑗 = 𝑚

𝑖=1 𝑗=1

𝑛

∑ 𝑥𝑖𝑗 = 1

𝑗=1

𝑥𝑖𝑗 = 1 𝑜𝑟 0

𝑑𝑖 < 1000

For Long Haul:

𝑚 𝑛

𝑖=1 𝑗=1

𝑚 𝑛

∑ ∑ 𝑥𝑖𝑗 = 𝑚

𝑖=1 𝑗=1

𝑛

∑ 𝑥𝑖𝑗 = 1

𝑗=1

𝑥𝑖𝑗 = 1 𝑜𝑟 0

𝑑𝑖 ≥ 1000

In both cases, i denotes the routes while j denotes the available aircrafts. Furthermore, m is the number

of flights whereas n is the total number of aircraft models. The decision of assignment xij is binary. And

the constraints ensure that we assign only one aircraft to one route.

Numeric Illustration

For illustration, we have chosen 10 routes and 10 aircrafts, 5 for each of long and short haul trips. Their

distance and seat capacity are given below:

Let us first estimate the load factor. Applying 2017 in the formula we get the load factor to be-

75.914 + 0.41375 (2017 − 2001)

= 82.5

Next, the proportion of different aircraft seats are determined. We are using the following values-

a b c d e

0.04 0.06 0.4 0.3 0.2

Using these values, the average ticket price of the 10 routes were determined-

And from these data, competitive ticket pricing were calculated.

Now for applying ACO, we put the inputs for the two problems like this-

Problem 1 Problem 2

And the following parameters were set-

Finally, we also use the Hungarian algorithm to check whether our assignment is optimum. We can

calculate it through an online Hungarian Algorithm Calculator with providing the profit matrices. The

profit matrix for the two sets of problems are given below-

Result:

And the result from the Hungarian algorithm is shown below:

As the results match, we can be sure that the assignment is optimum and profit has been maximized.

Conclusion:

PROFIT MAXIMIZATION of total supply chain profit AND minimization OF BULLWHIP EFFECT IN a multi-

echelon SUPPLY CHAIN network using particle swarm optimization and genetic algorithm.

International Journal of Integrated Supply Management Volume 11, No-2/3, 2017 Page 236-263

International journal of simulation and process modelling volume -11, no-3/4, page-326 to 336, 2016

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