Search results

This paper presents a case study on the problem of loading air containers in air express carriers motivated from DHL and Air Hong Kong. The problem is to determine the containers to be loaded and the locations of the loaded containers in an aircraft while maintaining stability of the aircraft. The objective of the problem is to maximize the revenue obtained from delivering containers. We present an integer programming model to represent and optimally solve the problem. Computational experiments done on a number of randomly generated test instances show that the integer program can be a viable tool for generating loading plans in the companies since optimal or near-optimal solutions for the test instances are obtained within a reasonable amount of computation time.

The purpose of this paper is to study the unit train make-up scheme for loaded direction in the heavy haul railway.

A 0-1 nonlinear integer programming model with the aim of minimizing the idling period between actual train arrival time and expected train arrival time for all loaded unit trains are proposed.

The proposed model is applied into a case study based on Daqin heavy haul railway. Results show that the proposed model can offer operators an optimal unit train make-up scheme for loaded direction in heavy haul railway.

The proposed model can offer operators an optimal unit train make-up scheme for loaded direction in heavy haul railway.

The aim of this paper is to investigate the gap between cost-based and time-based revenue recognition schemes in the accounting of ship-owning corporations, and to propose cost-based revenue recognition (as in general accounting practice) in connection with the performance obligations.

For a comparative analysis of time-based (traditional approach) and cost-based schemes, a sample of dry bulk ships is selected and voyage estimations are performed by certified professional shipbrokers (Fellow of the Institute of Chartered Shipbrokers) (data collection and voyage estimation by practitioner). Performance obligations are also defined by certified shipbrokers (i.e. survey and expert opinion) and certified public accountant based on common shipping business practice and accounting practice in general.

Empirical results indicate the significant gap between two alternative schemes. Cost-based revenue recognition accelerates the revenue recognition (benefit of shipowner), and it enables comparability among other industries since cost-based allocation is the common practice in accounting (matching principle, Generally Accepted Accounting Principles).

It is obviously impossible to observe all kinds of freight market transactions for all different kinds of vessel particulars. The sample size does not undervalue the current study since the central idea of this paper is not the verification of the cost-based recognition in all possible transactions.

The proposed approach debiases the existing recognition practice as well as improving the speed of revenue recognition. In the existing practice, time-based recognition is still based on voyage estimations (time estimation). Voyage estimations conventionally answer two questions: “What is the cost of the voyage?” and “What is the duration of the voyage?” Therefore, the proposed approach does not require any additional work done. Common practice also clarifies the cost-based schedule for revenue recognition.

This paper addresses the unconventional accounting practice and its incomparability problem for the first time. To the best of the authors’ knowledge, this paper is also the first study on accounting economics of the shipping business. This paper proposes a practical solution to the debate raised by Financial Accounting Standards Board 2014-09 regulation on accounting standards by utilizing a staging approach and cost-based revenue allocation.

The purpose of this paper is to investigate US noncombatant evacuation operations (NEO) in South Korea and devise planning and management procedures that improve the efficiency of those missions.

It formulates a time-staged network model of the South Korean noncombatant evacuation system as a mixed integer linear program to determine an optimal flow configuration that minimizes the time required to complete an evacuation. This solution considers the capacity and resource constraints of multiple transportation modes and effectively allocates the limited assets across a time-staged network to create a feasible evacuation plan. That solution is post-processed and a vehicle routing procedure then produces a high resolution schedule for each individual asset throughout the entire duration of the NEO.

This work makes a clear improvement in the decision-making and resource allocation methodology currently used in a NEO on the Korea peninsula. It immediately provides previously unidentifiable information regarding the scope and requirements of a particular evacuation scenario and then produces an executable schedule for assets to facilitate mission accomplishment.

The significance of this work is not relegated only to evacuation operations on the Korean peninsula; there are numerous other NEO and natural disaster related scenarios that can benefit from this approach.

This paper is an empirical attempt to verify the interplay between political change, fleet nationality, and the evolution of shipping networks. North Korea offers a good example of a socialist maritime country that has experienced much contrasting geopolitical contexts since 1990. A database of vessel movements between North Korean ports and other ports is analyzed. Main results show differences between North Korean and foreign fleets in terms of traffic (vessel size, age, berthing time) and geographical coverage. South Korean ports tend to play a new role in the reorganization of North Korean-related flows in Northeast Asia.

This paper has presented a brief description of the SSS industry in Europe and has discussed what is meant by this industry, what types of ships are involved, what cargoes are carried, what are the main geographical areas of operations, what are the industry's strengths and weaknesses, and what users require from the industry before it can become a realistic choice for many in multimodallogistics transport chains.

The Incheon Region has numerous assets that fall within a Pentaport model.' These include the Incheon International Airport, the Port of Incheon, a coastal industrial park, free economic zones, a leisure port, and Songdo new town designed to be the future Silicon Valley of Korea. This paper looks at how Northeast Asia trade flows between China and Korea might be enhanced by application of the Pentaport model in making the Incheon region a North East Asian Hub. It looks also at their trade and logistics systems as well as their water borne commerce. It proposes an integrated transportation system for the Yellow Sea Region being beneficial to the economies of the Northeast Asia. It also stresses that innovative technologies for ships, terminals and cargo handling systems should be introduced to develop a competitive short sea shipping system in the region and cooperation among the regional countries will be essential to achieve the final goal. The potential of methods of container shipping is discussed as it might apply to short sea shipping in the Yellow Sea Region that could greatly facilitate Incheon's situation with respect to the broader region in application of the Pentaport model.

This study aims to analyze information on vessel traffic between the two Koreas with a probability distribution for each route/vessel type. The study will then conduct an estimate for maritime transport patterns of inter-Korean trade in the future. To analyze the flow of inter-Korean coastal shipping, this study conducted visualization analysis of shipping status between North and South Korea by year, ship type, and port using navigation data of three years from Port Logistics Information System (Port-MIS) sources during 2006 to 2008, which saw the most active exchanges between the two governments. Also, this study analyzes shipping status between the two governments as a probability distribution for each port and provides the prospects for future maritime transport for inter-Korean trade by means of Bayesian Networks and simulation. The results of the analysis are as follows: i) when North-South routes are reopened, the import volume for sand from North Korea will be increased; ii) investment in the modernization of ports in North Korea is required so that shipping companies can generate profit through economies of scale; iii) the number of the operating vessels including container ships between the two governments is expected to increase like when the tensions and conflict on the Korean Peninsula was release, especially between Busan port in South Korea and Nampo port in North Korea; and iv) among container ships, transshipment containers imported and exported through Busan Port will be shipped to North Korea by feeder transportation.

The growth of China’s economy during the 1990s has both shaped and reflected changes in the span and function of the country’s shipping connections both within Asia and with the rest of the world. Although sea-land developments within China have been studied, less attention has been paid to the wider global implications stemming from the transformation of the country’s maritime geography during a decade of further market reforms and greater integration into the world economy. Consequently, there is a need to comprehend how China’s state-owned shipping industry has been reorganized during the 1990s to meet the new requirements, with special reference to the country’s liner shipping connections between and within Asia respectively. More purposely, these topics are addressed by examining changes in the organization, approach and set of connections of the state-owned China Ocean Shipping (Group) Company (Cosco) and its post-1993 offshoot COSCO Container Lines Company Ltd (Coscon). This review provides a springboard for a detailed analysis of shifts in both extra- and intra-Asian shipping patterns between 1990 and 2000 and consideration of their strategic implications. Finally, short-sea shipping is defined and the phenomenon’s operational strengths and weaknesses discussed.

Inventory accumulation is a major problem for any organization, as it not only occupies the valuable storage space, but it also blocks the company's capital, leaving the owners with less cash to run the company's business. Aggregation of inventory in any organization contributes to inventory carrying cost; it affects labor productivity, increases equipment expenses and creates a loss of opportunity associated with it. Therefore, it is essential for any organization to come up with a solution to deal with the stockpile of inventory.

This research aims to examine the potential causes of inventory aggregation in an organization. First, the potential factors for the build-up of inventory are identified from survey data collection, such as questionnaire approach and discussion with industry experts, and then weights are assigned to attributes to study the effects for these factors. After the identification of probable causes, they are analyzed through a multi-criterion decision-making (MCDM) approach and the technique for order of preference by similarity to ideal solution (TOPSIS) to prioritize the severity of these causes toward the accumulation of inventory and take corrective actions to prevent their disruptive effect on the business.

The top three causes identified from the TOPSIS analysis are sales and forecasting error, defects and quality related issues and communication gap between departments. Firstly, we focus on these major contributors and prioritize them using the TOPSIS analysis. Then, we proceed further toward other factors. The main reasons identified for the accumulation of inventory are (1) forecasting error, (2) bulk purchase, (3) data entry error, (4) communication gaps, (5) quality-related issues, (6) product category not traceable and (7) wrong material being procured.

To carry out the data analysis in this research paper, first survey data collection is done. Then, discussions with managers and executives in the particular domain are carried out, and weights are assigned to the attributes and the criteria to study the effects of the identified factors. After that root cause analysis (RCA) is performed to get to the genesis of the problem and to take necessary corrective action, for carrying out this study, a total of seven potential causes were identified and the contribution of these seven causes on five attributes or criteria, i.e. quantity (in tons), holding and carrying cost, effect on labor productivity, loss of opportunity cost and storage space were studied.

This research paper is the author’s original work, and all the analyses carried out are from the discussion with experts in the field and through the in-depth analysis carried out. This research aims to examine the potential causes of the accumulation of inventory in organizations and their contribution toward factors like inventory carrying cost, labor productivity, and opportunity loss and excessive storage space have been analyzed. This research provides great value to the readers in the respective domain.