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A simulation approach to estimate the value of information in maritime supply chains

DSpace at IIT Bombay

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Title A simulation approach to estimate the value of information in maritime supply chains
 
Creator PRASAD, UH
GAVIRNENI, S
 
Description With the rapid increase in global trade and introduction of new security measures, maritime supply chain costs have increased and so has the need for business intelligence in improving maritime shipping operations. We develop a seaport operations model that simulates the decision making process associated with scheduling and processing of ships with the objective of evaluating the value of Geographical Information System (GIS) information. We consider two scenarios: (1) A traditional model where there is no GIS information on future ship arrivals; and (2) An information-rich model in which the arrival time of the next ship is known. We propose look-ahead based heuristics for the resulting optimization problems, determine the value of information (VOI), and tabulate how VOI varies as a function of the various operational parameters. Adding such operational intelligence to shipping operations improves the performance by as much as 60% (and by 15% on average) and reduces the costs without expanding the physical footprint of the seaport.
 
Publisher IEEE
 
Date 2011-10-25T05:30:07Z
2011-12-15T09:11:28Z
2011-10-25T05:30:07Z
2011-12-15T09:11:28Z
2010
 
Type Proceedings Paper
 
Identifier PROCEEDINGS OF THE 2010 WINTER SIMULATION CONFERENCE,1967-1975
978-1-4244-9864-2
0891-7736
http://dx.doi.org/10.1109/WSC.2010.5678876
http://dspace.library.iitb.ac.in/xmlui/handle/10054/15616
http://hdl.handle.net/100/2082
 
Source 2010 Winter Simulation Conference,Baltimore, MD,DEC 05-08, 2010
 
Language English