Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/65291
Title: Formulating cargo inventory costs for liner shipping network design
Authors: Wang, S 
Keywords: Dwell time
Inventory costs of containers
Liner shipping network design
Transshipment
Value of transit time
Issue Date: 2017
Publisher: Routledge, Taylor & Francis Group
Source: Maritime policy and management, 2017, v. 44, no. 1, p. 62-80 How to cite?
Journal: Maritime policy and management 
Abstract: This study examines how to incorporate the inventory costs of containerized cargoes into existing liner service planning models such that the designed networks could be improved while not causing extra modeling/computational burden. Two approaches are compared: (i) not considering the inventory costs at all and (ii) incorporating the inventory costs associated with onboard time and those related to transshipment by assuming a fixed connection time. The two models are compared with the ideal model capturing the exact inventory costs on a route choice problem and a capacity planning problem based on extensive randomly generated and practical numerical experiments. The results show that: first, ignoring the inventory costs in service planning models may lead to network design with much higher costs (poor network design decisions); second, in service planning models assuming weekly frequency, the inventory costs associated with onboard time could be formulated exactly, and those related to the connection time of weekly services could be approximated by assuming fixed connection time of 3.5 days for ports with 1 day’s minimum connection time and 4.5 days for ports with 2 days’ minimum connection time.
URI: http://hdl.handle.net/10397/65291
ISSN: 0308-8839
EISSN: 1464-5254
DOI: 10.1080/03088839.2016.1245879
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