In this section, we discuss how the reservation fee decided by the carrier and the expected profit of the carrier can be influenced by changing these parameters though sensitivity analysis. Sensitivity analysis aims to find out sensitive factors e. Therefore, people can judge the risk tolerance of the problem from the results of sensitive analysis. One main shortcoming of sensitive analysis is that it cannot automatically determine the proper range of an uncertainty factor so as to consider the full range of uncertain situations and the probability of change within this range.
Consequently, certain risks might be caused to the shipper and the carrier in our problem. The results are plotted in Fig. It indicates that the optimal order quantity of container slots increases when the price of one container slot offered by the carrier increases.
This may be counterintuitive at first sight. However, a closer examination of Fig. Finally, we consider how the expected profit of the carrier would be influenced by increasing the price of a slot offered by the carrier and the results are shown in Fig.
This study makes the first attempt to solve the uncertainty problem in container slots booking that causes risk to the shipper and the revenue loss to the carrier. We first propose a newsvendor problem to find the optimal order quantity of container slots for the shipper. However, most parameters we consider fluctuate in practice. Hence, we assume that the market price is fixed and then discuss its impact on the reservation fee, the optimal order quantity, and the expected profit by increasing the price of one container slot offered by the carrier.
Future studies will focus on the following aspects. First, this paper assumes that the carrier has sufficient capacity. However, there are many factors, e. As a result, the capacity of container slots might be insufficient, which yields two cases of container slot booking for the shipper, i. Furthermore, as affected by market factors, the actual demand is uncertain. Under this situation, finding the optimal order quantity of container slots while not exceeding the carrier's capacity is of highly significance for the shipper.
Hence, future research can consider the optimal order quantity of the shipper under insufficient capacity of container slots. Second, only one shipper is considered in this paper.
In the situation with one carrier and more shippers, two cases can be considered to calculate the maximum expected profit for the carrier. In the first case, all container slots in the capacity have been booked by those shippers.
Then, the carrier's expected profit should be calculated under each of the two cases. Accessed 12 Aug Clean Logist Supply Chain Article Google Scholar. Int J Ship Transp Logist 2 1 — Eur J Oper Res 1 — In: Chinese control and decision conference, pp — Johnson T Reliability on the spot. Accessed 20 July Khouja M The single-period newsvendor problem: literature review and suggestions for future research. Omega 27 5 — Transp Policy — Or Spectrum 29 1 — Mao, Y. In: 83rd IEEE vehicular technology conference, pp 1—5.
J Ship Trade 4 1 :1— In: international conference on service systems and service management, pp 1—6. Peng, J. Research and analysis of slot allocation strategy for hybrid resource scheduling in wireless multi-hop cooperative networks. In: 2nd IEEE advanced information technology, electronic and automation control conference, pp — Eur J Oper Res 2 — Schinas O, Bergmann N Emissions trading in the aviation and maritime sector: findings from a revised taxonomy.
Cleaner Logist Supply Chain Sofreight Accessed 20 July Wagner S Maersk introduces Maersk Spot, a new fully online product that simplifies the buying process for customers. Accessed 25 July Wang YD, Meng Q Integrated method for forecasting container slot booking in intercontinental liner shipping service.
Flex Serv Manuf J 31 3 — J Shanghai Jiaotong Univ 41 2 — Google Scholar. Transp Res Part c Emerg Technol — Zhao H, Meng Q, Wang YD Probability estimation model for the cancellation of container slot booking in long-haul transports of intercontinental liner hipping services.
Download references. We thank the editor for handling our manuscript and the constructive comments from the editor and two anonymous reviewers. Brought to you by:. Not teaching at a university?
Register as a student Register as an individual. Overview Included Materials. Learning Objectives Analyze when market share is a valuable objective and anticipate the effects of a price war, Consider the value of building a model to support decision making in order to: narrow the potential outcomes of a decision; factor in competitive responses to a company's actions; provide an opportunity to question assumptions by looking at the robustness of the model, Understand the premise of the Nash equilibrium, Understand the Prisoner's Dilemma and 'how to solve' it.
Details Pub Date: Sep 6, Shippers would get an all-in, instant price that would include guaranteed equipment and ocean loading within three days of the estimated time of departure or receive compensation. This goes both ways. Amendments more than seven days before shipment would trigger a cancellation fee, while a no-show fee would be levied within the week of shipping.
It fixed a glaring business problem in the industry — a tacit understanding that container liners would charge extra, on top of existing fees, if they had a container they could ship for more rolled cargo. Despite increased frustration with this arrangement, rolled cargo and no-shows remains prevalent. A logistics manager playing a critical role in annual containerized freight spend in the high nine-digit levels recently confirmed that during the peak season, this continued to impact their cargo as well.
While a paradise for game theorists, this bizarre arrangement works for precisely no one. Maersk Spot is a unique in that Maersk can apply a homecourt advantage — their ships, their pricing, their unique ability to guarantee space and equipment. This effectively creates a low-cost, scalable sales channel that makes it easier to service the higher-margin small businesses typically owned by freight forwarders.
While many forwarders and carriers are experimenting with digital sales, Maersk is all-in. For example, in a recent email, Maersk clarified that fixed upfront rates could only be consumed through the Spot API. But there will be products that the carriers can offer because they have insight into an actionability on the data from the physical world.
Containers can be loaded, unloaded, rolled, and reloaded based on the specific requirements… and this creates an experience customers may value enough to switch over to unlock. Maersk has invested in user and customer experience projects to rebuild their website properties.
They continue to do so with some vigor and it seems to be working. Maersk is also going to great lengths to try to replicate engaging consumer experiences for their business customers.
One noteworthy example is Captain Peter, a mobile virtual assistant for remote container management of reefers:. According to the site, it has serviced over 2, customers across 5, shipments since being founded in Through a range of acquisitions, rebrands, and integrations, Maersk is now positioned to handle everything from FCL shipments to air, reverse logistics, e-Commerce fulfillment and more.
With a planned axing of the Damco brand at the end of and a merger of air and ocean less-than-container into a single loose cargo division, Maersk is ready to come up against forwarders, even though those competitors also represent one of its largest customer segments. Beyond creating integrated offerings, the full 3PL integration into Maersk created more efficiencies.
As the Maersk report notes:. Moller — Maersk brand. Going to market as one sales force enables fully integrated value propositions and much simpler interactions to the benefit of our customers. What does this mean in practice? Well, when a Maersk customer in southeast Asia recently needed urgent shipments, Maersk quickly put charter air flights in place. Eleven of them. However, other forwarders have also managed air charters.
Over the next year, Maersk would increase the team from 80 to While Maersk already markets e-Commerce and reverse logistics services , this move reflects the rising importance of eCommerce in a post-COVID global logistics reality. This understanding is also manifested in investments that Maersk has made, as will be apparent shortly.
Trade financing is emerging as a popular value-added service logistics providers offer to customers. Beacon, a UK-based digital forwarder backed by Jeff Bezos, has made this its calling card, and Flexport, one of the most well-known digital forwarders, has been offering financing since July of Maersk began to pilot Trade Finance back in and had extended services to six countries by The service uses goods in Maersk containers as collateral and can rely on data from the previous three years of shipping history as additional insights for providing financing.
True to the integrated approach, Maersk maintains the goal of increasing revenue from the existing customer base by:. At the time of publishing, this service was still fairly limited in geographic scope, being offered to customers in Spain, Austria, Belgium, Germany, Netherland, Denmark, Norway, and Sweden. It is fairly safe to assume that major acquisitions by Maersk in the near-term will be limited to integrated logistics solutions, likely in order to fill gaps in both service scope and geography.
Many companies around the world maintain relationships with multiple logistics service providers. This explains the release of Maersk Flow, on July 28th, Maersk Flow is essentially a supply chain collaboration platform that enables shippers to work together with logistics providers and suppliers, with integrated e-form transmission to other major ocean liners.
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