Determining optimum ship capacity by application of inventory theory in freight management
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CitationÖzen, S. (2001). Determining optimum ship capacity by application of inventory theory in freight management. Journal of Maritime and Transportation Sciences - Pomorski Zbornik. 39(1), s. 249-266.
The determination of the optimum ship capacity is very important for short and long-term planning of freight management and ship investment. In view of ship operations, maritime transportation depends on the number, size, type and speed of ships in a certain shipping line. For long-term ship-operating situations the ship which has the optimum size can provide the maximum profit. The optimum ship capacity problem can be formulated and solved by the application of inventory management theory to maritime transportation. The optimum ship capacity is determined by minimising the transportation cost objective function. This function depends on the ship capacity variable and has the following parameters: the total amount of cargo transported in unit time between two ports; the distance between two ports; accumulating time; loading and unloading time per ship; investment cost; holding cost per item per unit of time. When the above model is mathematically solved, it is seen that while the optimum ship capacity increases with traffic quantity, transportation distance between two ports, fixed costs and loading and unloading time; it decreases with cost per cargo unit per unit of time. In this paper, using the inventory management theory, an optimum ship capacity model is developed. For long- term planning, it is important for the ship owners to decide the size of the ship they will purchase. In the second part of the paper, assuming that the size of the ship is found in the first part, short-term planning will be discussed, which consists mainly finding the optimum ship load.
SourceJournal of Maritime and Transportation Sciences - Pomorski Zbornik
- Makale Koleksiyonu 
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