Characterization and short term forecasting of the US long haul truckload spot market
Thesis: S.M. in Transportation, Massachusetts Institute of Technology, Department of Civil and Environmental Engineering, 2019
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2019
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| Online Access: | https://hdl.handle.net/1721.1/123236 |
| _version_ | 1811098374688997376 |
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| author | Rana, Shraddha(Shraddha Sudipta) |
| author2 | Chris Caplice. |
| author_facet | Chris Caplice. Rana, Shraddha(Shraddha Sudipta) |
| author_sort | Rana, Shraddha(Shraddha Sudipta) |
| collection | MIT |
| description | Thesis: S.M. in Transportation, Massachusetts Institute of Technology, Department of Civil and Environmental Engineering, 2019 |
| first_indexed | 2024-09-23T17:14:03Z |
| format | Thesis |
| id | mit-1721.1/123236 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T17:14:03Z |
| publishDate | 2019 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/1232362019-12-14T03:00:36Z Characterization and short term forecasting of the US long haul truckload spot market Rana, Shraddha(Shraddha Sudipta) Chris Caplice. Massachusetts Institute of Technology. Department of Civil and Environmental Engineering. Massachusetts Institute of Technology. Department of Civil and Environmental Engineering Civil and Environmental Engineering. Thesis: S.M. in Transportation, Massachusetts Institute of Technology, Department of Civil and Environmental Engineering, 2019 Cataloged from PDF version of thesis. Includes bibliographical references (pages 50-52). Accurate forecasting of transportation costs is a key step in logistical planning. It helps buyers and sellers of transportation services make better decisions at all stages of a supply chain, thus creating a significant need to develop forecasting techniques that give useful results. First, we study the truckload market in the US by defining indicators that capture the market characteristics. Then we explore techniques for making short term weekly forecasts for truckload spot market rates at a national level and of selected 3-Zip origin regions in the USA. Short term spot rate forecasts help with making operational decisions, estimating budget for shippers, and cash flow for carriers. But making frequent forecasts for volatile time series such as truckload spot rates comes with its challenges. We solve the problem using four models: Naive, Moving Average, Auto Regressive Integrated Moving Average, and Feed-Forward Neural Networks. Additionally, we employ concept drift handling techniques to re-train the models regularly with new information to account for changes that may appear in the underlying data structure over time. Finally, we draw inferences from the MAPEs of the models and comment on their merit. by Shraddha Rana. S.M. in Transportation S.M.inTransportation Massachusetts Institute of Technology, Department of Civil and Environmental Engineering 2019-12-13T18:53:34Z 2019-12-13T18:53:34Z 2019 2019 Thesis https://hdl.handle.net/1721.1/123236 1129597521 eng MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission. http://dspace.mit.edu/handle/1721.1/7582 57 pages application/pdf n-us--- Massachusetts Institute of Technology |
| spellingShingle | Civil and Environmental Engineering. Rana, Shraddha(Shraddha Sudipta) Characterization and short term forecasting of the US long haul truckload spot market |
| title | Characterization and short term forecasting of the US long haul truckload spot market |
| title_full | Characterization and short term forecasting of the US long haul truckload spot market |
| title_fullStr | Characterization and short term forecasting of the US long haul truckload spot market |
| title_full_unstemmed | Characterization and short term forecasting of the US long haul truckload spot market |
| title_short | Characterization and short term forecasting of the US long haul truckload spot market |
| title_sort | characterization and short term forecasting of the us long haul truckload spot market |
| topic | Civil and Environmental Engineering. |
| url | https://hdl.handle.net/1721.1/123236 |
| work_keys_str_mv | AT ranashraddhashraddhasudipta characterizationandshorttermforecastingoftheuslonghaultruckloadspotmarket |