Business, Management and Accounting
2 years ago

Dynamic inventory model boosts profits in liner shipping industry.

Computers & Industrial Engineering
A joint dynamic inventory-slot allocation model for liner shipping using revenue management concepts
Elaheh Mehrzadegan, Mahsa Ghandehari, Saeedeh Ketabi

Paper Summary

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The article presents a model that combines dynamic slot allocation and inventory management to make better decisions in liner shipping. By using revenue management concepts, the model optimizes the transportation of full and empty containers, considering market differences and service variety. The goal is to maximize profit by balancing the inventory of empty containers in ports. An example based on Iranian liner shipping was solved, showing a significant profit increase compared to traditional methods.