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Article
Publication date: 19 January 2022

Zhihong Jin, Xiaohan Wang, Jiaqing Sun and Qi Xu

Energy groups are cargo owners with large amounts of energy sources (such as coal) to transport. To achieve a satisfactory tradeoff between the reliability requirements of the sea…

Abstract

Purpose

Energy groups are cargo owners with large amounts of energy sources (such as coal) to transport. To achieve a satisfactory tradeoff between the reliability requirements of the sea transportation process and the need to control the investment cost, they usually set up a self-owned fleet supplemented by a chartered fleet. This paper aims to investigate the best fleet structure and to evaluate the investment scheme under volatile circumstances in the shipping market.

Design/methodology/approach

The authors construct a mathematical model to determine the ratio of the self-owned fleet to the total fleet to minimize fleet operating costs. The volatility of both freight rates and oil prices is taken into consideration. The CPLEX solver is used to empirically analyze real data from an energy group in China, and the ship investment plan is evaluated considering the technical and economic feasibility.

Findings

If the ratio of the self-owned fleet to the total fleet is increased to the optimal of 90.40%, the total operating cost is reduced by 33.98%. Thus, the energy group should increase its capacity with a Panamax vessel of approximately 82,000 DWT. Purchasing a 5-year-old secondhand ship and building a new ship both have good investment return indicators.

Originality/value

For cargo owners engaging in transporting bulk cargo domestically in China, the suggested fleet ratio can provide a reference with a universal application scale, given the boundary economic conditions (including the volatility of freight rates and oil prices in the shipping market) in the paper.

Details

Maritime Business Review, vol. 7 no. 3
Type: Research Article
ISSN: 2397-3757

Keywords

Content available
Article
Publication date: 26 November 2021

Chu Cong Minh and Nguyen Van Noi

Truck appointment systems have been applied in critical container ports in the United States due to their potential to improve handling operations. This paper aims to develop a…

1314

Abstract

Purpose

Truck appointment systems have been applied in critical container ports in the United States due to their potential to improve handling operations. This paper aims to develop a truck appointment system to optimise the total cost experiencing at the entrance of container terminals by managing truck arrivals and the number of service gates satisfying a given level of service.

Design/methodology/approach

The approximation of Mt/G/nt queuing model is applied and integrated into a cost optimisation model to identify (1) the number of arrival trucks allowed at each time slot and (2) the number of service gates operating at each time slot that ensure the average waiting time is less than a designated time threshold. The optimisation model is solved by the Genetic Algorithm and tested with a case study. Its effectiveness is identified by comparing the model's outcomes with observed data and other recent studies.

Findings

The results indicate that the developed truck appointment system can provide more than threefold and twofold reductions of the total cost experiencing at the terminal entrance compared to the actual data and results from previous research, respectively.

Originality/value

The proposed approach provides applicably coordinated truck plans and operating service gates efficiently to decrease congestion, emission and expenses.

Details

Maritime Business Review, vol. 8 no. 1
Type: Research Article
ISSN: 2397-3757

Keywords

Content available
Article
Publication date: 15 December 2017

Yi-Chih Yang and Han-Yu Lin

The four purposes of this study are to understand the development and the current status of Taiwan’s far seas longline tuna fisheries through a review of the literature and…

4994

Abstract

Purpose

The four purposes of this study are to understand the development and the current status of Taiwan’s far seas longline tuna fisheries through a review of the literature and interviews; to investigate the attitude of Taiwanese fishing vessel operators fishing in the Indian Ocean concerning the use of transportation under the influence of various factors; to analyze the relationship between changes in the transportation behavior of Taiwanese fishing vessel operators and various factors; and to provide suggestions to government and industry associations concerning the development of viable response strategies.

Design/methodology/approach

This paper uses methods including factor analysis and the analytic hierarchy process to analyze questionnaires collected from industry personnel and governmental personnel involved in the supply chain system of the longline tuna fishery in the Indian Ocean.

Findings

It is found that 16 assessment criteria in four major dimensions have major influence on the choice of cold chain transport. An assessment of all dimensions indicates that reefer ships are still the preferred means of transshipping frozen catch.

Originality/value

This paper seeks to investigate factors affecting choice of cold chain mode of transport from the perspective of Taiwanese companies operating longline tuna fishing vessels in the Indian Ocean, which are chiefly motivated by the need to reduce operating costs, and also looks at their choices of means of transport.

Details

Maritime Business Review, vol. 2 no. 4
Type: Research Article
ISSN: 2397-3757

Keywords

Open Access
Article
Publication date: 19 April 2022

Liwei Ju, Zhe Yin, Qingqing Zhou, Li Liu, Yushu Pan and Zhongfu Tan

This study aims to form a new concept of power-to-gas-based virtual power plant (GVPP) and propose a low-carbon economic scheduling optimization model for GVPP considering carbon…

Abstract

Purpose

This study aims to form a new concept of power-to-gas-based virtual power plant (GVPP) and propose a low-carbon economic scheduling optimization model for GVPP considering carbon emission trading.

Design/methodology/approach

In view of the strong uncertainty of wind power and photovoltaic power generation in GVPP, the information gap decision theory (IGDT) is used to measure the uncertainty tolerance threshold under different expected target deviations of the decision-makers. To verify the feasibility and effectiveness of the proposed model, nine-node energy hub was selected as the simulation system.

Findings

GVPP can coordinate and optimize the output of electricity-to-gas and gas turbines according to the difference in gas and electricity prices in the electricity market and the natural gas market at different times. The IGDT method can be used to describe the impact of wind and solar uncertainty in GVPP. Carbon emission rights trading can increase the operating space of power to gas (P2G) and reduce the operating cost of GVPP.

Research limitations/implications

This study considers the electrical conversion and spatio-temporal calming characteristics of P2G, integrates it with VPP into GVPP and uses the IGDT method to describe the impact of wind and solar uncertainty and then proposes a GVPP near-zero carbon random scheduling optimization model based on IGDT.

Originality/value

This study designed a novel structure of the GVPP integrating P2G, gas storage device into the VPP and proposed a basic near-zero carbon scheduling optimization model for GVPP under the optimization goal of minimizing operating costs. At last, this study constructed a stochastic scheduling optimization model for GVPP.

Details

International Journal of Climate Change Strategies and Management, vol. 15 no. 2
Type: Research Article
ISSN: 1756-8692

Keywords

Content available
Article
Publication date: 3 August 2018

Scott C. Hewitson, Jonathan D. Ritschel, Edward White and Gregory Brown

Recent legislation resulted in an elevation of operating and support (O&S) costs’ relative importance for decision-making in Department of Defense programs. However, a lack of…

1750

Abstract

Purpose

Recent legislation resulted in an elevation of operating and support (O&S) costs’ relative importance for decision-making in Department of Defense programs. However, a lack of research in O&S hinders a cost analyst’s abilities to provide accurate sustainment estimates. Thus, the purpose of this paper is to investigate when Air Force aircraft O&S costs stabilize and to what degree. Next, a parametric O&S model is developed to predict median O&S costs for use as a new tool for cost analyst practitioners.

Design/methodology/approach

Utilizing the Air Force total ownership cost database, 44 programs consisting of 765 observations from 1996 to 2016 are analyzed. First, stability is examined in three areas: total O&S costs, the six O&S cost element structures and by aircraft type. Next, stepwise regression is used to predict median O&S costs per total active inventory (CPTAI) and identify influential variables.

Findings

Stability results vary by category but generally are found to occur approximately five years from initial operating capability. The regression model explains 89.01 per cent of the variance in the data set when predicting median O&S CPTAI. Aircraft type, location of lead logistics center and unit cost are the three largest contributing factors.

Originality/value

Results from this research provide insight to cost analysts on when to start using actual O&S costs as a baseline for estimates in lieu of analogous cost program data and also derives a new parametric O&S estimating tool designed as a cross-check to current estimating methodologies.

Details

Journal of Defense Analytics and Logistics, vol. 2 no. 1
Type: Research Article
ISSN: 2399-6439

Keywords

Open Access
Article
Publication date: 21 September 2021

Camillo Loro and Riccardo Mangiaracina

Considering the growing momentum of online marketplaces worldwide, the purpose of this paper is to develop a model to identify the main activities impacted by the implementation…

3743

Abstract

Purpose

Considering the growing momentum of online marketplaces worldwide, the purpose of this paper is to develop a model to identify the main activities impacted by the implementation of an e-marketplace in the business-to-business relationship and assess the savings on costs for the main actors involved (i.e. manufacturer, distributor and retailer).

Design/methodology/approach

The methodology used in the study is a quantitative one. The analytical model used to evaluate B2b e-marketplace's impacts followed three main steps: (1) model settings and general assumptions, (2) cost structure and (3) model simulation.

Findings

The findings reveal that beyond stock-out costs and inventory levels also other operating costs (i.e. transportation, penalty and administrative costs) play a significant role in determining overall impacts of B2b e-marketplace, and as such should be considered by managers in their process of e-marketplace evaluation, selection and performance optimisation. The model shows that compared with the offline scenario the B2b e-marketplace is expected to bring value to the overall supply chain, which tends to increase as the share of e-sales penetration is increased, ranging from a cost reduction of 0.1% (€ 229.2k) in the base-case of 10% e-sales adoption, up to 0.9% (€ −2.2 M) in case of full e-marketplace adoption.

Originality/value

This study aims to shed light and foster the adoption of B2b e-marketplace by providing some practical tools to support (1) research in future studies, filling the existing gaps on the topic, and (2) managers in the process of adoption and execution of e-sales through online marketplaces.

Details

Industrial Management & Data Systems, vol. 122 no. 1
Type: Research Article
ISSN: 0263-5577

Keywords

Open Access
Book part
Publication date: 4 May 2018

Anwar Puteh, Muhammad Rasyidin and Nurul Mawaddah

Purpose – The purpose of the research is to analyze the efficiency of Islamic banks in Indonesia. The data used in this research are panel data observed from 2012 until 2016. The…

Abstract

Purpose – The purpose of the research is to analyze the efficiency of Islamic banks in Indonesia. The data used in this research are panel data observed from 2012 until 2016. The sampling of this research is conducted on five Sharia banks in Indonesia, that is, Bank Muamalat, Bank SyariahMandiri, BukopinSyariah, BRI Syariah, and Bank Mega Syariah.

Design/Methodology/Approach – The study uses a quantitative method to analyze the efficiency of Sharia banking with formulation of comparison of operating expenses to operating revenues (BOPO).

Finding – The result of this research concludes that Sharia banking in Indonesia has not been efficient during the last five years, that is, 2012–2016. This can be seen from the range of banking efficiency ratio. The average level of Islamic banking efficiency ranges between 89.73% and 94.16%. Bank Muamalat whose range is 94.16% shows the highest average efficiency ratio compared to other Sharia banks. Meanwhile, Bank Mega Syariah maintains the lowest average efficiency ratio that is 89.37%. The five Sharia banks have a high efficiency ratio of over 80%. This shows that Sharia banking in Indonesia is inefficient

Originality/Value – The bank should be able to balance between cost (cost) and revenue. Sharia banks must also be able to create good product innovation in order to increase the collection of funds from the community, such as for competitive outcomes, prizes, or other programs that raise public interest to use the services of Sharia banking.

Research Limitations/Implications – This inefficiency is due to the high bank operating costs compared to the bank’s operating income.

Details

Proceedings of MICoMS 2017
Type: Book
ISBN:

Keywords

Open Access
Article
Publication date: 17 November 2020

Renata Biadacz

The purpose of the study is to examine the research problem that represents an attempt to approximate the importance of quality costing in managing a modern enterprise using the…

7734

Abstract

Purpose

The purpose of the study is to examine the research problem that represents an attempt to approximate the importance of quality costing in managing a modern enterprise using the selected enterprises from small and medium-sized enterprises (SMEs) in Poland.

Design/methodology/approach

The primary goal of the research is a need to acquire knowledge about the use of quality cost accounts in enterprises operating in Poland. The research has been conducted in the SMEs of production and services. From October 2018 to December 2018, survey-based research was carried out in the selected SMEs of production and service in Poland. The targeted participants of the study are from the medium-sized enterprises, employing 50–250 people.

Findings

The pilot studies conducted in companies indicate that modern enterprises are focused on quality. Many enterprises declare to be continuously improving quality system and quality costing. However, generally, these are large companies that have implemented ISO standards, often part of international corporations. The survey result of the study shows that medium-sized enterprises still make little use of modern cost accounting variants. Based on the study, only 9.75% (39 enterprises) from a representative group of 400 companies from the sectors of manufacturing, services and production as well as service companies apply quality costing. Some of the other enterprises are only taking measures to implement quality cost accounting.

Research limitations/implications

The research has been conducted in randomly selected SMEs in the form of a questionnaire interview. In order to further analyze the construction of quality cost management (QCM) systems and the use of information from QCM by enterprises, case study method should be used more widely.

Practical implications

The results of the study provide useful help for companies that are quality-oriented and want to implement quality costing. The survey has been conducted in 400 enterprises, and the survey results of considered SMEs reveal the most important aspects of the application of quality costing.

Originality/value

The questionnaire used, the answers provided and the resulting conclusions fill the identified research gap. In the author's opinion, findings of research are relevant and useful, not only for accounting practice but also for theory. They show that although TQM and quality costing have been very popular in the literature since the 1990s, the degree of application of quality costing in practice (except for large, often international companies) is too low. So, the suitability of QCM in managing a modern enterprise from the SMEs should be promoted.

Details

The TQM Journal, vol. 33 no. 7
Type: Research Article
ISSN: 1754-2731

Keywords

Open Access
Article
Publication date: 16 March 2022

Zheyao Pan, Guangli Zhang and Huixuan Zhang

The aim of this study is to investigate the impact of local political uncertainty on the asymmetric cost behavior (i.e. cost stickiness) for listed firms in China.

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Abstract

Purpose

The aim of this study is to investigate the impact of local political uncertainty on the asymmetric cost behavior (i.e. cost stickiness) for listed firms in China.

Design/methodology/approach

In this study, the authors manually collect the turnover data of prefecture-city officials as a measure of exogenous fluctuations in political uncertainty and obtain firm-level financial information from the China Stock Market Accounting Research (CSMAR) database. To perform the analysis, the authors augment the traditional cost stickiness model by including the interaction terms of the prefecture-city official turnover, and firm-level and prefecture-city level control variables.

Findings

The authors find that political turnover leads to a higher degree of cost stickiness, implying that firms retain slack resources when political uncertainty is high. Moreover, the effect of political turnover on cost stickiness is more pronounced for firms residing in regions with weaker institutional environments, and firms that are privately owned and with smaller size. The authors further provide evidence that policy uncertainty and the threat of losing political connection are two underlying channels. Overall, this study documents that the local political process is an important channel that influences corporate operational decisions.

Originality/value

This study provides the first piece of evidence on the relation between political uncertainty and cost stickiness at the local government level. Moreover, the authors propose and demonstrate two underlying channels through which political uncertainty affects firms' asymmetric cost behavior.

Details

China Accounting and Finance Review, vol. 24 no. 2
Type: Research Article
ISSN: 1029-807X

Keywords

Content available
Article
Publication date: 1 September 2000

Bernie Sloan

196

Abstract

Details

The Bottom Line, vol. 13 no. 3
Type: Research Article
ISSN: 0888-045X

Keywords

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