An application of efficient frontier in transportation of hazardous materials

This paper presents a practical and efficient algorithm for optimum transportation planning of hazardous materials. The optimum solution of such planning often involves in minimization of expected cost of different alternatives. However, one may be interested in minimizing the risk involved for decision made simultaneously. This paper presents an application of efficient frontier in transportation of hazardous materials. The method is capable of minimizing the expected cost and risk providing a set of optimum solutions to be used by decision maker. We explain the implementation of our proposed method with some numerical example.