Name: Efficient Drop Trailer Management in a Volatile Network
Start: 2024-05-17T14:00:00-0400
End: 2024-05-17T14:30:00-0400

Welcome to the MIT SCM Research Symposium 2024 and thank you for joining us! We hope you find the day exciting and informative. To enhance your experience, we are utilizing this platform in order to help identify projects of top interest to you. Below you will find not only the schedule, but also the abstracts and attached executive summaries of each project. Additionally, you can better acquaint yourself with the student presenters and advisors through their profiles. Thank you again and we look forward to hosting you.

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Efficient Drop Trailer Management in a Volatile Network

This paper examines the implementation of a drop trailer program within a circular economy, focusing on optimizing the supply chain for a pallet manufacturing company. The study presents an integrated approach that combines an XGBoost machine learning model for precise demand forecasting and a Gurobi-based MILP optimization model for efficient trailer inventory management. By addressing key issues such as dwell time, stockouts, and operating hours, the research aims to enhance asset utilization and reduce operational costs. The quantitative model captures the movement of goods and the associated costs, informing strategic decisions about asset allocation, trailer scheduling, and cost minimization. The paper demonstrates that through advanced analytics and optimization techniques, substantial improvements in supply chain efficiency and cost savings can be realized, contributing to improved service levels and profitability.

Student Presenters