• Journal of the Korean Operations Research and Management Science Society
• /
• v.34 no.1
• /
• pp.11-28
• /
• 2009

Intelligent investment in setup cost reduction and process reliability improvement is crucial to an emerging integrated lean six sigma practice today. This study examines a cost-minimizing problem of jointly determining production lot size, setup cost reduction, and process reliability improvement decisions for a manufacturer with an imperfect production process. We develop models for previously untapped discrete shipping in a supply chain context as well as continuous shipping and solve them optimally using differential calculus and nonlinear programming. We also conduct analytic and numerical sensitivity analyses to provide various important managerial insights into practices.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.26
• /
• pp.143-172
• /
• 2005

The biggest exchange of international environment of shipping logistics in 21 century should appear ultra-mega container ships on the shipping market. The competitive trend of large size container ship was based on economics of scale among the international shipping business. In the environment, shipping firms consider the integration of freight forwarder and shipper in the international logistics process. The aims of this research analyse a relation between the environment uncertainty and logistics information system(LIS) and the integration and resolve the integration and its impact on logistics performance. The research methodology of this research analyse structural equation modeling on the relation of variables. The results of research are as follows. First, Environmental uncertainty significantly influences the internal integration and the external integration. Second, LIS has an influence on the logistics integration by providing the foundation for LIS utilization in international logistics process. Third, the internal integration significantly influences a logistics performance, which implies that firms should promote interaction and collaboration through internal process integration to achieve logistics performance as the logistical cost and service. But the external integration is not significantly a logistics performance.

• Journal of Navigation and Port Research
• /
• v.45 no.5
• /
• pp.259-275
• /
• 2021

This study analyzed the decision-making process in ship finance for the choice between fixed and floating interest rates using behavioral finance theories. Results confirmed that causes and background of decision-making processes could be explicitly explained by the framework of behavioral finance theories. This study also determined whether decisions were irrational. A case-study research was applied as the methodology. Decision-making data on ship finance collected through narrative and questionnaire responses were analyzed and evaluated using behavioral finance theories. Theories of behavioral finance used in the analysis and research of this study included availability heuristic, anchoring effect, and opportunity cost theory. Narrative and survey responses were clearly explained by theories of behavioral finance. It was found that a shipping company suffered additional losses owing to decisions that included behavioral finance errors. Behavioral finance theories largely influenced the decision-making process of choosing between a fixed interest rate and a floating interest rate. Shipping finance decisions related to interest rate selections could be clearly explained by behavioral finance theories. Errors related to behavioral finance could result in irrational decisions. Thus, managers who are responsible for shipping finance should remain vigilant toward any behavioral finance errors when making shipping finance decisions.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2002.03a
• /
• pp.39-51
• /
• 2002

Online exchange is a cost-effective approach to trade goods and information among multiple sellers and buyers. Shipping industry includes lots of global entities such as shippers, liners, ship owners and shipping agents. Marine insurance companies and ship repairers and many other groups are also supporting the industry. However, international shipping exchanges are located on few cities in the world. Its our motivation that a shipping market can be online so that market participants do the dealing while sitting where they are with more efficient manner, preferable price and larger pool of candidates of trading partners. This paper presents Korean governmental project of building a cyber shipping exchange. The exchange covers ship sale and purchase, charter, insurance, freight futures, repairs, supplying of ships oil and database service. The workflows of each business were analyzed and designed to fit for online environment. The project includes design of trading mechanism, online documents, data flow, data storage and security. Online match making and trading mechanisms such as auction, reverse auction, bid are used. The whole trading process involves multiple organizations and business processes. So, this Paper focuses on how each organization would play their roles so that users can complete transactions with integrated and transparent view. The online exchange selves also as maritime portal site that links to other sites for cooperation vertically or horizontally, and serves database and information in global perspective. This paper also issues and discusses the justification of an online shipping exchange

• Journal of Navigation and Port Research
• /
• v.35 no.2
• /
• pp.179-185
• /
• 2011

This paper aims to examine the use of the Balanced Scorecard in a not-for-profit organization (the Korea Shipping Association). The KSA has begun using the Balanced Scorecard paradigm in its strategic planning process. In this paper an overview is presented of the basic concepts of the Balanced Scorecard including the financial perspective, customer perspective, internal process perspective, and learning and growth perspective. The accounting system and its pros and cons of the KSA are then surveyed in terms of its performance evaluation. The application of the Balanced Scorecard approach to the KSA is discussed in detail. Implications in using the Balanced Scorecard are discussed. Finally, conclusions regarding the use of the Balanced Scorecard in a not-for-profit organization are presented. Through this paper, the comprehensive understanding of the performance evaluation for not-for-profit organizations as the KSA would be promoted.

• Journal of the Korean Institute of Navigation
• /
• v.12 no.1
• /
• pp.113-136
• /
• 1988

Decision Science or Decision Analysis can be described as a scientific methodolog to provide suitable quantitative information for the decision maker to be able to selected the best feasible alternative on the given decision environment and thus we can say that where there are decision problems, there needs the decision analysis to be applied to them. International shipping is generally said to be the cheapest and most widely used means of transport in international trade and each of the hundreds of seaport. So far as the decision makings in the shipping and port transportation are concerned, of real importance is to understand what the decision problems in each of shipping and port transportation really are and to recognize the meaning of relevance between shipping and seaport in the outworn phrase, that is to say, "The chain is as strong as its weakest link." This paper is intended to present a literature survey on the applied decision analysis to shipping and port transportation problems which have actually been involved in the wide variety of decision environment. At first, the author suggests four divisional framework such as decision analysis in each field of Shipping Economics, Management and Operations of Shipping, Port Economics, and Port Operation and Management, according to the main concern of the decision environment, and then the literature surveys on those four major divisions are described including the problems and solution approaches in each case. The author concludes the paper with the comment on the need of joint research around this area by citing the phrase of "a process of updating the decision makers' intuitions."s' intuitions."quot;

• Journal of the Society of Naval Architects of Korea
• /
• v.59 no.6
• /
• pp.372-384
• /
• 2022

Total shipping accounts for 2.9 % of the annual average percentage of global anthropogenic GHG emissions. The International Maritime Organization implements EEDI (Energy Efficiency Design Index), Energy Efficiency eXisting-ship Index (EEXI), and Carbon Intensity Indicator (CII) as regulatory frameworks for shipping decarbonization. The Republic of Korea has enforced the Act on Development and Popularization of Greenship from 2020 and publicly announced the 1st national plan which was named 『2030 Greenship-K Promotion Strategy』 for the activation of a greenship market. The Greenship Certification Scheme is going on for the sustainability of Korean shipbuilding and shipping industries, to secure clean maritime environments, as well as to contribute to the national economy. Greenship Certification guarantees the credit of such eco-friendly technologies and products for shipping. The certification is going to be the basis of industrial competitiveness in coastal and international shipping. This study investigates an existing certification process, identifies the limitations, and proposes the process improved with several case studies. The improved certification scheme may have rationality for Net-zero with regard to climate alignment.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
• /
• 2002.11b
• /
• pp.535-540
• /
• 2002

A satellite shipping container must afford the satellite a relatively benign thermal, vibration, and particle environment that is oblivious to the extreme temperatures, sand, dust, vibrations, and shock that can accompany the transportation. Korea Aerospace Research Institute has developed a new shipping container system that will be used to transport KOMPSAT-2(Korea Multi-Purpose SATellite) from Tae-jon to launch site. To verify the dynamic characteristics, a Finite Element Analysis model and a 1/3 scaled mockup of the container were developed before the fabrication of real one. After fabrication of real shipping container, experimental modal analysis was peformed to identify the dynamic characteristics. This paper presents a series of development process of KOMPSAT-2 shipping container.

• Journal of Ship and Ocean Technology
• /
• v.11 no.2
• /
• pp.34-45
• /
• 2007

Environment of marine transportation market is changing rapidly. Due to globalization of world economy, marine transportation of cargos, especially trade using container boxes, is increasing dramatically. Fierce competition in the global market of container transportation forces the shipping industry to seek the economy of scale to reduce transportation cost, and drives the merge and alliance of liner shipping companies. Mega-sized container ships, having capacity over 10,000 TEU, were introduced, and appeared recently, in order to reduce the unit transportation cost. Korean shipping and shipbuilding companies are competitive, and have considerable market share in the global market. Even though both industries are inter-connected through ships and have many common interests in order to enlarge the global market share, inter-relation between two industries is surprisingly insignificant. In this paper current issues in the process of environmental change of marine cargo transportation are reviewed, and inter-relation of shipping and shipbuilding industries is discussed. Suggestions for inter-related development of Korean shipping and shipbuilding industries are given, and means for mutually beneficial collaboration are suggested.

• Journal of Navigation and Port Research
• /
• v.42 no.5
• /
• pp.347-356
• /
• 2018

The presence of the Fourth Industrial Revolution is omniscient, led by full force emergence of technologies that make biological, physical, and digital worlds borderless. All industries which jump on the bandwagon, can observe convergence and merging of bushiness happening within, between and across industries. As the shipping and port logistics industry is said to be in eye of this storm, the purpose of this study is to investigate the shipping and port logistics industry's awareness regarding 4th IR, as well to identify necessary countermeasures in responding to progression of this trend. Analytic Hierarchy Process (AHP) methodology was then used to compare the importance of four phases of countermeasures, reviewed by experts in the field. Results showed that countermeasures should be first orchestrated to the 'Merging and Integration of Inter-industry', then followed by 'P reemptive Introduction of Advanced Technology', 'Expansion of Intra-industry Businesses', and eventually 'Automation, Unmanned Technology'. Last but not least, four phases of countermeasures which should be introduced and executed one phase after another, are outlined for the shipping and port logistics industry to boost its competitiveness in addressing this progressive trend.