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Article
Publication date: 16 September 2019

Said El Noshokaty

This paper aims to study the implication of the stochastic gross-profit-per-day objective on the ship profitability and the ship capacity and speed.

Abstract

Purpose

This paper aims to study the implication of the stochastic gross-profit-per-day objective on the ship profitability and the ship capacity and speed.

Design/methodology/approach

The paper has used the mathematical model and the solution methodology given by El Noshokaty, 2013, 2014, 2017a, 2017b, and SOS, 2019.

Findings

The paper finds that if the ship owner follows the rate concept and the cargo demand forecast, he can improve the profitability of his company and be able to select the proper capacities and speeds for the ships used.

Research limitations/implications

The findings are not only useful for the shipping or other cargo transport companies but also for businesses like gas reservoir development, car assembly lines in the industry, cooperative farming and crop harvesting in agriculture, port cargo handling in trade and road paving in construction.

Originality/value

The contribution of this paper lies in notifying the ship owners of the possible profitability improvement and the consequences of building ships of larger capacities and slower speeds.

Details

Maritime Business Review, vol. 4 no. 3
Type: Research Article
ISSN: 2397-3757

Keywords

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Article
Publication date: 23 March 2012

Rajiv Dandotiya and Jan Lundberg

Wear life of mill liners is an important parameter concerning maintenance decision for mill liners. Variations in process parameters such as different ore properties due…

Abstract

Purpose

Wear life of mill liners is an important parameter concerning maintenance decision for mill liners. Variations in process parameters such as different ore properties due to the use of multiple ore types influence the wear life of mill liners whereas random order of processing, processing time and monetary value of different ore types leads to variation in mill profitability. The purpose of the present paper is to develop an economic decision model considering the variations in process parameters and maintenance parameters for making more cost‐effective maintenance decisions.

Design/methodology/approach

Correlation studies, experimental results and experience of industry experts are used for wear life modeling whereas simulation is used for maximizing mill profit to develop economic decision model. The weighting approach and simulation have been considered to emphasize the contribution of parameters such as ore value and processing time of a specific ore type to a final result.

Findings

A model for estimating lifetime of mill liners has been developed based on ore properties. The lifetime model is combined with a replacement interval model to determine the optimum replacement interval for the mill liners which considers process parameters of multiple ore types. The finding of the combined model results leads to a significant improvement in mill profit. The proposed combined model also shows that an optimum maintenance policy can not only reduce the downtime costs, but also affect the process performance, which leads to significant improvement in the savings of the ore dressing mill.

Practical implications

The proposed economic decision model is practically feasible and can be implemented within the ore dressing mill industries. Using the model, the cost‐effective maintenance decision can increase the profit of the organization significantly.

Originality/value

The novelty is that the new combined model is applicable and useful in replacement decision making for grinding mill liners, in complex environment, e.g. processing multiple ore types, different monetary value of the ore type and random order of ore processing.

Details

Journal of Quality in Maintenance Engineering, vol. 18 no. 1
Type: Research Article
ISSN: 1355-2511

Keywords

Content available
Article
Publication date: 20 August 2020

Said El Noshokaty

The purpose of this paper is to resolve three problems in ship routing and scheduling systems. Problem 1 is the anticipation of the future cargo transport demand when the…

Abstract

Purpose

The purpose of this paper is to resolve three problems in ship routing and scheduling systems. Problem 1 is the anticipation of the future cargo transport demand when the shipping models are stochastic based on this demand. Problem 2 is the capacity of these models in processing large number of ships and cargoes within a reasonable time. Problem 3 is the viability of tramp shipping when it comes to real problems.

Design/methodology/approach

A commodity-trade forecasting system is developed, an information technology platform is designed and new shipping elements are added to the models to resolve tramp problems of en-route ship bunkering, low-tide port calls and hold-cleaning cost caused by carrying incompatible cargoes.

Findings

More realistic stochastic cargo quantity and freight can now be anticipated, larger number of ships and cargoes are now processed in time and shipping systems are becoming more viable.

Practical implications

More support goes to ship owners to make better shipping decisions.

Originality/value

New norms are established in forecasting, upscaling and viability in ship routing and scheduling systems.

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Article
Publication date: 11 June 2020

Noura Yassine and Sanjay Kumar Singh

The purpose of this paper is to investigate a supply chain consisting of a producer and multiple suppliers of a type of component needed for the production of a certain…

Abstract

Purpose

The purpose of this paper is to investigate a supply chain consisting of a producer and multiple suppliers of a type of component needed for the production of a certain product. The effects of carbon emission taxes, quality of components and human inspection errors as well as the collaboration among the supply chain members are considered.

Design/methodology/approach

A mathematical model is formulated for a non-collaborative supply chain, and the optimal policy is shown to be the solution of a constraint optimization problem. The mathematical model is modified to the case of a collaborative supply chain and to account for inspection errors. Algorithms are provided, and a numerical example is given to illustrate the determination of the optimal policy.

Findings

This study offers a new conceptual and analytical model that analyzes the production problem from a supply chain perspective. Human resource management practices and environmental aspects were incorporated into the model to reduce risk, optimally select the suppliers and properly maximize profit by accounting for human inspection error as well carbon emission taxes. Algorithms describing the determination of the optimal policy are provided.

Practical implications

This study provides practical results that can be useful to researchers and managers aiming at designing sustainable supply chains that incorporate economic, environmental and human factors.

Originality/value

This study can be useful to researchers and managers aiming for designing sustainable supply chains that incorporate economic and human factors.

Details

Journal of Enterprise Information Management, vol. 34 no. 1
Type: Research Article
ISSN: 1741-0398

Keywords

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Article
Publication date: 24 August 2019

Ling Xin, Kin Lam and Philip L.H. Yu

Filter trading is a technical trading rule that has been used extensively to test the efficient market hypothesis in the context of long-term trading. In this paper, the…

Abstract

Purpose

Filter trading is a technical trading rule that has been used extensively to test the efficient market hypothesis in the context of long-term trading. In this paper, the authors adopt the rule to analyze intraday trading, in which an open position is not left overnight. This paper aims to explore the relationship between intraday filter trading profitability and intraday realized volatilities. The bivariate thin plate spline (TPS) model is chosen to fit the predictor-response surface for high frequency data from the Hang Seng index futures (HSIF) market. The hypotheses follow the adaptive market hypothesis, arguing that intraday filter trading differs in profitability under different market conditions as measured by realized volatility, and furthermore, the optimal filter size for trading on each day is related to the realized volatility. The empirical results furnish new evidence that range-based realized volatilities (RaV) are more efficient in identifying trading profit than return-based volatilities (ReV). These results shed light on the efficiency of intraday high frequency trading in the HSIF market. Some trading suggestions are given based on the findings.

Design/methodology/approach

Among all the factors that affect the profit of filter trading, intraday realized volatility stands out as an important predictor. The authors explore several intraday volatilities measures using range-based or return-based methods of estimation. The authors then study how the filter trading profit will depend on realized volatility and how the optimal filter size is related to the realized volatility. The bivariate TPS model is used to model the predictor-response relationship.

Findings

The empirical results show that range-based realized volatility has a higher predictive power on filter rule trading profit than the return-based realized volatility.

Originality/value

First, the authors contribute to the literature by investigating the profitability of the filter trading rule on high frequency tick-by-tick data of HSIF market. Second, the authors test the assumption that the magnitude of the intraday momentum trading profit depends on the realized volatilities and aims to identify a relationship between them. Furthermore, the authors consider several intraday realized volatilities and find the RaV have the higher prediction power than ReV. Finally, the authors find some relationship between the optimal filter size and the realized volatilities. Based on the observations, the authors also give some trading suggestions to the intraday filter traders.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

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