The prestigious Franz Edelman Award for Achievement in Operations Research and the Management Sciences was presented at the Edelman Gala on April 16th, 2018 in Baltimore, Maryland. The Franz Edelman competition honors distinction in the practice of Operations Research and Analytics, by both individuals and companies, with emphasis on the beneficial impact of their achievements.
To reach the finals, companies are required to demonstrate how their use of technology is transforming the approach to some of the world’s most complex problems.
Simio is proud to be the provider of the simulation that facilitated one of this year’s finalists, Europcar, through our partner, ACT Operations Research (ACTOR). Our combined technologies have been used to develop Opticar which provides forecasting, simulation and optimization of the processes relating to vehicle rental for the leading European car rental company.
Simulation for Decision Making
The vehicle rental industry is a huge, complex, constantly changing market, with cultural variations across countries. In order to meet dynamic demand, decisions are continuously made regarding fleet assets, their locations, usage and pricing. The combination of AI, statistical modeling and simulation allows all eventualities to be considered and evaluated in order to establish optimum processes and make informed decisions.
Simulation can be used to model the possibilities with respect to both capacity and revenue, helping managers of car rental companies to reduce their risks in terms of planning for optimal fleet saturation. By making quality decisions, they can constantly maximize business opportunity for the company and ensure consistent financial and service performances.
At Simio, we are constantly solving business problems of this kind through simulation. When complex system schedules and decisions are required, we deliver leading edge solutions across many industries, from manufacturing to transportation and logistics.
Simio is proud to congratulate our partner ACTOR, with Europcar, on their outstanding achievement of becoming a Franz Edelman Award finalist.