BALTIMORE, MD, April 15, 2024 – INFORMS, the largest association for the decision and data sciences, announced it has awarded Molslinjen its 2024 Franz Edelman Award for Achievement in Advanced Analytics, Operations Research and Management Science, for its use of operations research (O.R.) to enhance data-driven ferry operations.
Molslinjen and Halfspace partnered to develop and operate a bespoke forecasting and revenue management toolbox for data-driven operation of ferries in Denmark. The system allows for better and faster packing of vehicles in the cargo area and increased utilization while reducing delays, fuel costs and emissions. The dynamic pricing engine for revenue management allows better set prices based on contextual information and regulatory constraints. The program was rolled out operationally in 2020 and has resulted in up to $3.2 million in yearly savings. It has also contributed to a 3% reduction in fuel costs and emissions.
First awarded in 1972, the Franz Edelman Award recognizes and rewards outstanding contributions of analytics and O.R. in the for- and nonprofit sectors around the globe. Each year, INFORMS honors finalist teams that have improved organizational efficiency, increased profits, brought better products to consumers, helped foster peace negotiation and saved lives. Since its inception, the cumulative dollar benefits from Edelman finalist projects have surpassed $419 billion.
Molslinjen received the Edelman Award this evening at the Edelman Gala, a highlight of the 2024 INFORMS Analytics Conference in Orlando, Florida.
Franz Edelman Award Finalists
In addition to Molslinjen, five other organizations were finalists for this year’s Franz Edelman Award:
- ALDI SÜD Germany for “Data-Driven Approaches and Collaborative Intelligence for Empowering Leadership of a European Market-Leading Retailer”
- American Airlines for “HEAT – The Hub Efficiency Analytics Tool”
- McDonald’s China for “Supply Chain Network Optimization Has Reduced Millions in Transportation Costs and Fostered Economic Growth for McDonald’s China”
- Tata Steel Limited for “Strip Temperature Control in Continuous Annealing Furnace of Tata Steel India by Model Predictive Control Approach”
- Transvision for “Optimizing Mobility for Elderly and Disabled Dutch Citizens using Taxis”
Additional information about the 2024 INFORMS Franz Edelman Award finalists and competition can be found at: https://www.informs.org/Recognizing-Excellence/2024-Edelman-Award.
About INFORMS
As the largest professional association for the data and decision sciences, INFORMS members leverage mathematics and scientific methodologies to help organizations and governments at all levels make better, data-driven decisions. With more than 12,000 professional and student members from around the world, INFORMS is the largest association for the decision and data sciences. INFORMS members support organizations and governments at all levels as they work to transform data into information, and information into insights that save lives, save money, and solve problems.
###
Contact:
Ashley Smith
443-757-3578
Media Contact
Ashley Smith
Public Affairs Coordinator
INFORMS
Catonsville, MD
[email protected]
443-757-3578