The potential of optimization and simulation to better match supply and demand in shared mobility systems

Abstract

Shared mobility systems allow individuals to rent vehicles on an as-needed basis. The benefit of this is that these individuals does not have to buy the vehicle themselves and only pay for its use. These shared mobility systems are becoming increasingly popular due to the fact that sharing vehicles means fewer are required and fewer resources must be devoted making them. Following that, most of these shared vehicles are electrically powered, which also contributes to a more sustainable future. A crucial factor for the success of these shared mobility systems is its ability to properly match the demand and supply of the vehicles. This is achieved by rebalancing operations, in which vehicles are repositioned from areas with a surplus of vehicles to areas with a deficit of vehicles, based on the expected demand and supply. Determining effective rebalancing operations is a complex challenge that requires the consideration of many different elements. In this review, various methodologies from the literature to rebalance the fleet of vehicles within shared mobility systems are examined. We present an overview of optimization and simulation techniques used in the literature to better match demand and supply.