Data-driven fleet management using MOORA: a perspective of risk management
Journal of Modelling in Management
ISSN: 1746-5664
Article publication date: 6 July 2020
Issue publication date: 7 April 2021
Abstract
Purpose
The purpose of this study is to investigate the best fleet for a new purchase based on multi-objective optimization on the basis of ratio (MOORA), reference point and multi-MOORA methods. This study further identifies critical parameters for fleet performance monitoring and exploring optimum range of critical parameters using Monte Carlo simulation. At the end of this study, fleet maintenance management and operations have been discussed in the perspectives of risk management.
Design/methodology/approach
Fleet categories and fleet performance monitoring parameters have been identified using the literature survey and Delphi method. Further, real-time data has been analyzed using MOORA, reference point and multi-MOORA methods. Taguchi and full factorial design of experiment (DOE) are used to investigate critical parameters for fleet performance monitoring.
Findings
Fleet performance monitoring is done based on fuel consumption (FC), CO2 emission (CE), coolant temperature (CT), fleet rating, revenue generation (RG), fleet utilization, total weight and ambient temperature. MOORA, reference point and multi-MOORA methods suggested the common best alternative for a particular category of the fleet (compact, hatchback and sedan). FC and RG are the critical parameters for monitoring the fleet performance.
Research limitations/implications
The geographical aspects have not been considered for this study.
Practical implications
A pilot run of 300 fleets shows saving of Rs. 2,611,013/- (US$36,264.065), which comprises total maintenance cost [Rs. 1,749,033/- (US$24,292.125)] and FC cost [Rs. 861,980/- (US$11,971.94)] annually.
Social implications
Reduction in CE (4.83%) creates a positive impact on human health. The reduction in the breakdown maintenance of fleet improves the reliability of fleet services.
Originality/value
This study investigates the most useful parameters for fleet management are FC, CE, CT. Taguchi DOE and full factorial DOE have identified FC and RG as a most critical parameters for fleet health/performance monitoring.
Keywords
Acknowledgements
Authors are grateful to all the experts for their support to identify the potential problem along with providing valuable inputs for developing the solutions. The authors are also thankful to the anonymous referees for their valuable and constructive comments which helped to improve the structure and quality of this paper. The authors sincerely thank all the authors who have made sufficient literature available in this domain that helped the authors and kept the authors in the right direction. The product of this research paper would not be possible without all of them.
Citation
Rane, S.B., Potdar, P.R. and Rane, S. (2021), "Data-driven fleet management using MOORA: a perspective of risk management", Journal of Modelling in Management, Vol. 16 No. 1, pp. 310-338. https://doi.org/10.1108/JM2-03-2019-0069
Publisher
:Emerald Publishing Limited
Copyright © 2020, Emerald Publishing Limited