Much more is involved in the designing step of an optimization project than in designing a traditional IT project plan. The former involves creating a detailed vision of how the software will work, what kind of value the optimization software can bring to the organization, and the steps by which the software development will be […]
Truckers are dealing every day with tech innovators and disruptors like ELDs and Uberization—and related uncertainty. Following is another excerpt (Part 1 is here) from my appearance on Road Dog Trucking, the Sirius XM radio program, hosted by Mark Willis, with 1.2 million daily listeners. Mark Willis: All right, let’s go to Brad in Mississippi. […]
Improving revenue management offers great potential value because it goes right to the bottom line without additional capital spending. Moreover, it is needed in a world where pricing is getting faster. What exactly is revenue management? The application of disciplined analytics that predict customer behavior at the micro-market level and optimize product availability and price […]
Blockchain is a hot topic, to put it mildly. Progressive Railroading recently interviewed me for an examination of blockchain as a game-changer. Read the article here. It is important to recognize that blockchain is a generic technology, not a standard. Freight transportation will require standards for transmitting and adding to the blockchain, adjudicating ties and defining […]
MHI Solutions, which covers material handling and logistics, interviewed me for its current issue’s review of intermodal transportation trends. Many shippers used intermodal in the past, didn’t like it, and have been using truckload ever since. However, significant headwinds are now impacting truckload, such as the driver shortage. Truckload has not seen meaningful consolidation, so […]
An international airline sought to transform flight scheduling and crewing decisions through state-of-the-art optimization. The airline’s network is notably complex, with planning required for unscheduled pickup and delivery between 13,000 worldwide airports in more than 179 countries, with over 700 planes. There are variable transit times due to weather and potentials for grounding due to […]
The project sponsor recognizes the potential value of optimization and often initiates the contact with the optimization consultants to further define the right opportunity. While titles vary, this is generally a person near the top of the reporting chain of the people who will be using the software day in and out. The sponsor is […]
I recently had the great pleasure to be a guest on Road Dog Trucking, the Sirius XM radio program with 1.2 million daily listeners. The host, Mark Willis, asked me to discuss the disruptive technologies impacting the trucking industry: autonomous trucks, drones, the Uberization of freight, Big Data, and the Internet of Things. Based on […]
For time-sensitive Big Data research, renting processing capacity is often better than buying and maintaining farms of dedicated computers, and it helps organizations achieve tremendous leaps in productivity and ease of use. Leaders of a High Frequency Trading (HFT) hedge fund retained Princeton Consultants to create a state-of-the-art environment for researching and simulating their alpha […]
We are proud that our colleague Irv Lustig received the INFORMS 2017 Volunteer Service Award for Distinguished Service. Irv has recently helped develop and improve programs and outreach to businesses and professional practitioners, a critical initiative for INFORMS. Irv points out how, since he began his career 30 years ago, the landscape for Operations Research […]
