• International Journal of Advanced Culture Technology
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• v.9 no.3
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• pp.271-276
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• 2021

In this paper we analyze the effect of the credit period on inventory policy under trade credit with ordering cost including a fixed cost and freight cost, where the freight cost has a quantity discount. For marketing purposes, some supplier offers credit period to his buyer to stimulate the demand for the product he produces. The delay in payments during the credit period has the effect of reducing the buyer's capital opportunity cost. It is also assumed that the buyer pays the freight cost for the order and hence, the ordering cost consists of a fixed ordering cost and a variable freight cost which depends on the order quantity. As a result, the possibilities of trade credit and discounts on freight costs are expected to play an important role in the buyer's inventory policy. Based on the economic order quantity inventory model, we analyze how the buyer can determine the optimal inventory policy and we examine the effect of the length of credit period on the buyer's inventory policy.

• Journal of Navigation and Port Research
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• v.28 no.8
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• pp.699-707
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• 2004

The purpose of this paper is to conduct an empirical analysis in order to how cooperative relationships such as joint venture, management cooperation and agency contracts affect the business performance of Korean freight forwarders. In order to fulfill the paper objective, this paper examines the roles of freight forwarders and business environment of Chinese markets.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.66
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• pp.119-148
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• 2015

Generally, the liability for breach is defined as the civil liability that arises from the conduct of violation of a contract. There are two notable principles governing liability for breach that have fundamental impacts on the unified Contract Law of the People's Republic of China (hereinafter Chinese Contract Law) in the remedies. In China, during the drafting of the Contract Law, there was a great debate as to whether damages for breach of contract ought to follow the fault principle or to follow the strict liability principle. Ultimately the Chinese Contract Law follows the model of the CISG on this point, namely, it follows the strict liability principle (article 107) with an exemption cause of force majeure. Under Chinese Contract Law, it is interpreted as strict liability in principle. Strict Liability is a notion introduced into Chinese Contract Law from the Anglo-Saxon Law. The strict liability or no fault doctrine, on the contrary, allows a party to claim damages if the other party fails to fulfill his contractual obligations regardless of the fault of the failing party. Pursuant to the strict liability doctrine, if the performance of a contract is due, any non-performance will constitute a breach and the fault on the party in breach is irrelevant. This paper reviews problems of legal character or legal ground of contractual liability in Chinese contract law. Specifically, focusing on the interpretation of Chinese contract law sections and analysis of three cases related contractual liability in freight agency, the paper proposes some implications of structural features of Chinese contract law and international commercial transactions.

• The Journal of the Convergence on Culture Technology
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• v.5 no.1
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• pp.353-360
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• 2019

Trade credit is being used as a price discrimination strategy by the suppliers in order to increase the customer's demand. From the viewpoint of the customer, if delayed payment is allowed for a certain period of time from the supplier, the effect of reducing the inventory carrying cost will positively affect the customer's order quantity. Also, in deriving the economic order quantity(EOQ) formula, it is tacitly assumed that the customer's ordering cost is a fixed cost. However in many business transactions, the customer pays the freight cost for the transportation of his order and so, the customer's ordering cost contains not only a fixed cost but also a freight cost which is a function of the order size. Therefore, in this study, we analyzed the inventory model which considers that the customer's ordering cost contains not only a fixed cost but also a freight cost which is a function of the customer's order size when the supplier permits a delay in payments. For the analysis, it is also assumed that inventory is exhausted not only by customer's demand but also by deterioration. Investigation of the properties of an optimal solution allows us to develop an algorithm whose validity is illustrated using an example problem.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.20 no.3
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• pp.536-542
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• 2016

Freight and passenger transport operators must converts the operation records of digital operation recording device (Digital Tachograph) that is mounted on their vehicle in a certain format, and report them to governmental agencies. However, for most of the individual carrier who cannot access a computer environment easily and are not familiar with the use of computer, it has given a big inconvenience to them because the procedures for entering the data obtained from the operation are so complicate. Therefore, in this study, a mobile system for converting the operation record file to request form of a government agency is designed and developed, so that the converted file can be submitted to the government agency in a simple way through the personal mobile device. By entering the data obtained from an actual operation recording device into the system, converting the data in the proposed algorithms, and checking the contents of the converted file in data viewer, it was confirmed that the proposed functions is working properly in the system.

• International Journal of Advanced Culture Technology
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• v.8 no.1
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• pp.62-70
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• 2020

As an effective means of price discrimination, some suppliers offer trade credit to the distributors in order to stimulate the demand for the product they produce. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. Since the distributor's lot-size is affected by the demand for the customer, the distributor's lot-size and the selling price determination problem is interdependent and must be solved at the same time. Also, in many common business transactions, the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. In this regard, we deal with the joint lot-size and price determination problem when the supplier allows delay in payments for an order of a product. The positive effects of credit transactions can be integrated into the EOQ (economic order quantity) model through the consideration of retailing situations, where the customer's demand is a function of the distributor's selling price. It is also assumed that the distributor's order cost consists of a fixed ordering cost and the variable shipping cost. We formulate the distributor's mathematical model from which the solution algorithm is derived based on properties of an optimal solution. A numerical example is presented to illustrate the algorithm developed.

• International Journal of Highway Engineering
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• v.18 no.5
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• pp.95-103
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• 2016

PURPOSES : Permitted left turn is a turning maneuver in which a vehicle turns left using a gap between oncoming vehicles, called gap acceptance, and it enables for more efficient traffic operation at intersections. In Korea, the permitted left turn has not been a common maneuver at signalized or un-signalized intersections. However, many experts and the Police Agency tried to apply this effective turning maneuver at intersections in Korea since 2010. Though the investigation of gap acceptance is significantly important in understanding a driver's behavior at intersections, there have not been many studies about this topic, specifically a study to develop probability models of gap acceptance behavior. METHODS : In this study, the probability model of gap acceptance behavior for a permitted left turn was developed based on observational field studies. To develop the model, seven variables were analyzed including gap, waiting time, traffic volume, conflict-flow vehicle type, left-turning vehicle type, the number of lane, and time. RESULTS : In the final model, gap and left-turning vehicle type were found to be significant influencing factors. CONCLUSIONS : Through this model development, it was concluded that as the gap size increased, the probability of gap acceptance was higher. Moreover, when a left-turning vehicle was a passenger car, the probability of gap acceptance was higher than compared to large size buses or freight cars.

• International Journal of Advanced Culture Technology
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• v.8 no.3
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• pp.300-306
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• 2020

This study analyzes the distributor's inventory model in a two-stage supply chain consisting of the supplier, the distributor and the end customer. The supplier will allow a credit period before the distributor settles the account with him in order to stimulate the demand for the product he produces. It is also assumed that the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. As a result, the availability of a credit transaction leads to an increase in inventory levels. On the other hand, in the case of deteriorating products in which the utility of the product perish over time, the deterioration rate with time plays a role in reducing inventory levels. In this regard, we analyze the effect of the length of the credit period and the degree of product deterioration on the distributor's inventory level. For the analysis, we formulate the distributor's annual net profit and analyze the effect of the length of credit period and deterioration rate of the product on inventory policy numerically.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.15 no.4
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• pp.381-390
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• 2017

In Korea, commercial nuclear power plants and research reactors have on-site storage systems for the spent nuclear fuel, but it is difficult to expand the facilities used for the storage systems. If decommissioning of nuclear power plants starts, an amount of high level radioactive waste will be generated. In this study, a radiological impact assessment of the railroad transport of high level radioactive waste was carried out considering radiation workers and the public, using the developed transport container as the transport package. The dose rates for workers and the public during the transport period were estimated, considering anticipated transport scenarios, and the results compared with the regulatory limit. A sensitivity analysis was also carried out by considering the different release ratios of the radioactive materials in the high level radioactive waste, and different distances between the transport container and workers during loading and unloading phases and while attaching another freight car. For all the anticipated transport scenarios, the radiological impacts for workers and the public met the regulatory limits.

• Journal of Korean Society of Transportation
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• v.28 no.1
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• pp.77-86
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• 2010

The study developed physical distribution channel choice models reflecting decision making of the firms and studied how choice decision factors influence selection of distribution channel. The distribution channel survey data in Korea was used to do empirical study. As a choice set, distribution channels were classified into two main choice channels: direct and indirect channels. In addition, indirect channels were classified into other three channels according to the type of intermediate point: distribution center, wholesale store, and agency. This study developed choice models by applying both binary and multinomial logit model with various set of factors. The results showed that the developed logit models seemingly reflect distribution channel choice behaviors. The hypothesis tests on how each factor influences choice of distribution channel were performed and discussed as well.