scholarly journals Contract design for the fourth party logistics considering tardiness risk

2022 ◽  
Vol 13 (1) ◽  
pp. 13-30 ◽  
Author(s):  
Hongyan Wang ◽  
Min Huang ◽  
Hongfeng Wang ◽  
Xuehao Feng ◽  
Yanjie Zhou
Keyword(s):  
Risk Index ◽  
Significant Risk ◽  
Contract Design ◽  
Third Party ◽  
Experimental Simulation ◽  
Maximum Probability ◽  
Logistics Industry ◽  
Decentralized System ◽  
Logistics Company ◽  
Fourth Party Logistics

Nowadays, tardiness has become a significant risk in the logistics industry. To address this problem, we introduce the tardiness risk index to quantify both the magnitude of the tardiness risk and the maximum probability of tardiness occurring. In this paper, we investigate the contract design problem with the tardiness risk index to mitigate the tardiness risk when a fourth-party logistics company (4PL) delegates the delivery task of a client to a third-party logistics company (3PL). Specifically, the contracts are designed in a decentralized system with information symmetry and information asymmetry when 3PL is risk neutral and risk averse. Furthermore, the incentive problems demonstrated that the 3PL is encouraged to make the optimal effort for delivery and the 4PL determines the optimal fixed payment and penalty coefficient. Through analyzing the experimental simulation results, we can find that the contract can effectively mitigate the tardiness risk and the maximum probability of risk occurrence.

RFID and Labor Management Systems Selection in the Logistics Industry

2010 ◽  
Vol 12 (1) ◽  
pp. 31-49 ◽  
Author(s):  
Cheryl A. Tibus ◽  
Linda L. Brennan
Keyword(s):  
Radio Frequency Identification ◽  
The United States ◽  
Third Party ◽  
Labor Management ◽  
Logistics Industry ◽  
Logistics Company ◽  
Frequency Identification ◽  
Factor Evaluation ◽  
System Selection

Faced with increasing competitive pressures, a logistics company in the United States sought to reduce its cost structure by implementing two information systems. The Labor Management System (LMS) was specifically designed to improve warehouse worker efficiency and the Radio Frequency Identification (RFID) system tracked the movement of products, pallets, and shipment. This case presents an overview of the logistics industry, background on the business need to consider new systems, and the requirements of the company in its system selection. Details of the technologies considered are included. The reader is then faced with the challenge of analyzing the options, and making a recommendation for systems selection. After analyzing this case study, the reader should be able to: • Define logistics functions, supply chain management, and third party logistics (3PL) services • Describe LMS and RFID systems • Identify the expected costs and benefits of the proposed technologies • Develop a multi-factor evaluation for vendor selection • Make a recommendation based on the evaluation, financial data, and other considerations.

scholarly journals Underground Risk Index Assessment and Prediction Using a Simplified Hierarchical Fuzzy Logic Model and Kalman Filter

Processes ◽  
2018 ◽  
Vol 6 (8) ◽  
pp. 103 ◽  
Author(s):  
Muhammad Fayaz ◽  
Israr Ullah ◽  
Do-Hyeun Kim
Keyword(s):  
Fuzzy Logic ◽  
Kalman Filter ◽  
Fuzzy Inference ◽  
Risk Index ◽  
Significant Risk ◽  
Assessment Method ◽  
Logic Model ◽  
Membership Functions ◽  
Inference System ◽  
Fuzzy Logic Model

Normally, most of the accidents that occur in underground facilities are not instantaneous; rather, hazards build up gradually behind the scenes and are invisible due to the inherent structure of these facilities. An efficient inference system is highly desirable to monitor these facilities to avoid such accidents beforehand. A fuzzy inference system is a significant risk assessment method, but there are three critical challenges associated with fuzzy inference-based systems, i.e., rules determination, membership functions (MFs) distribution determination, and rules reduction to deal with the problem of dimensionality. In this paper, a simplified hierarchical fuzzy logic (SHFL) model has been suggested to assess underground risk while addressing the associated challenges. For rule determination, two new rule-designing and determination methods are introduced, namely average rules-based (ARB) and max rules-based (MRB). To determine efficient membership functions (MFs), a module named the heuristic-based membership functions allocation (HBMFA) module has been added to the conventional Mamdani fuzzy logic method. For rule reduction, a hierarchical fuzzy logic model with a distinct configuration has been proposed. In the simplified hierarchical fuzzy logic (SHFL) model, we have also tried to minimize rules as well as the number of levels of the hierarchical structure fuzzy logic model. After risk index assessment, the risk index prediction is carried out using a Kalman filter. The prediction of the risk index is significant because it could help caretakers to take preventive measures in time and prevent underground accidents. The results indicate that the suggested technique is an excellent choice for risk index assessment and prediction.

The Research on New Air Materiel Support Model Based on VMI

2014 ◽  
Vol 926-930 ◽  
pp. 4142-4145
Author(s):  
Ji Jun Li ◽  
Hong Yang Guo ◽  
Ya Qun He ◽  
Ming Xing Shi ◽  
Yang Cui
Keyword(s):  
Inventory Management ◽  
Third Party ◽  
Third Party Logistics ◽  
Vendor Managed Inventory ◽  
Model Based ◽  
Distribution Services ◽  
Logistics Company ◽  
Material Transportation ◽  
And Storage ◽  
Support Model

For many problems in the current air material inventory management, this paper studies the application of Vendor Managed Inventory thinking in air material business activities, reform tasks and responsibilities of air material stocks and air material warehouse, and introduces third-party logistics company for the air material transportation and distribution services. It realized precision and refinement of air materiel financing, supply, transportation and storage.

scholarly journals The Fourth-Party Logistics Routing Problem Using Ant Colony System-Improved Grey Wolf Optimization

2020 ◽  
Vol 2020 ◽  
pp. 1-15
Author(s):  
Fuqiang Lu ◽  
Wenjing Feng ◽  
Mengying Gao ◽  
Hualing Bi ◽  
Suxin Wang
Keyword(s):  
Ant Colony ◽  
Third Party ◽  
Destination Node ◽  
Problem Analysis ◽  
Ant Colony System ◽  
Grey Wolf ◽  
Grey Wolf Optimization ◽  
Routing Problem ◽  
Initial Node ◽  
Fourth Party Logistics

The fourth-party logistics routing problem (4PLRP) is an important issue in the operation of fourth-party logistics (4PL). In this paper, the study of fourth-party logistics (4PL) path optimization considers that more third-party logistics (3PL) undertake transportation tasks. Under the condition that the 3PL transportation time, transportation cost, node transit time, and transit cost are uncertain, 4PL provides customers with a set of transportation solutions to transport transportation tasks from the initial node to the destination node according to the customer’s risk aversion preference. The transportation scheme not only meets the customer’s time and cost requirements but also meets the carrying capacity and reputation constraints of 3PL. Between the two nodes, one or more 3PLs will undertake the transportation task. The customer’s risk preference will be measured by the ratio utility theory (RUT). An ant colony system-improved grey wolf optimization (ACS-IGWO) is designed to solve the model, and the grey wolf optimization (GWO) is improved by the convergence factor and the proportional weight. Problem analysis is conducted through simulation experiments.

The Expansion Dilemma for Fourth-Party Logistics Services: Kodan Solutions Private Limited

2020 ◽  
Vol 24 (4) ◽  
pp. 506-516
Author(s):  
Anupama Prashar
Keyword(s):  
Supply Chain ◽  
Value Added ◽  
Secondary Data ◽  
Third Party ◽  
Primary Data ◽  
Business Trend ◽  
Logistics Services ◽  
Fourth Party Logistics ◽  
Outsourcing Logistics

The purpose of the case is to introduce the students to an emerging business trend of outsourcing the logistics function. The case enables the students to analyse the benefits of outsourcing logistics function and understand the concept of third-party logistics (3PL) and fourth-party logistics (4PL). The case is developed based on the primary data collected through interviews with the protagonist. Also, secondary data from published reports and archives of the company were used for the development of the case. After the case discussion the students will be able to understand the role of project logistics services in the supply chain. They will also understand the role of value-added logistics services such as cross-docking, reverse logistics and customs clearance, and the documentation involved in cross-border logistics. This case is among the first few cases on the concept of project logistics services and their role in the supply chain management.

Sign in / Sign up

Export Citation Format

Share Document