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How time value affects the performance of road freight transport operators in Zimbabwe

Mujakachi Tapiwa Christopher, Tukuta Marian, Tsvere Maria

Journal of Sustainable Development of Transport and Logistics

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2023

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Vol. 8, No. 2

128--135

EN

Purpose: The primary purpose of this paper is to investigate whether the Road Freight Transport Sector in Zimbabwe considers the value of time in their operations and how this affects their competitiveness. Methodology: This quantitative study involves a survey of 384 randomly selected companies from a population of 1256 registered road freight companies in Zimbabwe. The data collected was analyzed using SPSS. Results: The study found that all the registered companies that participated in the research confirmed that the value of time phenomenon was alien to their business practices as they worked on assumptions. They also indicated a loss of business due to customer complaints. Theoretical Contribution: This paper contributes to the field by highlighting the importance of considering the value of time in business operations, particularly in the road freight transport sector. It provides empirical evidence supporting the theory that the value of time can significantly impact a firm’s competitiveness. Practical Implications: The findings of this study have practical implications for companies in the road freight transport sector. The study recommends policy formulation for companies emphasizing standard operating procedures and good time management to enhance competitiveness. This could lead to improved customer satisfaction and business success.

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How does the value of time influence road user costs during work zone closures? A case study in El Paso, Texas, using simulation - based modeling methods

Shelton Jeffrey, Martin Peter M.

Journal of Sustainable Development of Transport and Logistics

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2021

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Vol. 6, No. 1

18--31

EN

It is becoming standard practice for many departments of transportation (DOTs) to use incentive/disincentive clauses (also known as road user costs) with contractors to stay on or ahead of schedule. These road user costs are clauses that DOTs use to calculate a monetary amount to encourage contractors to complete work prior to milestone dates and/or limit the time specified on the contract. The monetary amounts are typically vehicle operating costs and vehicle delay costs encumbered by highway users resulting from construction, maintenance, or rehabilitation activity. In this paper, we propose an innovative way of calculating these costs using varied values of time based on trip purpose and departure time. In addition, we use advanced pre-trip and en route traveler information to determine the influence it has on route choice. Several scenarios are modeled using an advanced, simulation-based dynamic traffic assignment model. The goal of this paper is to identify the governing factors that contribute to road use costs by determining different approaches to derive the value one places on a trip. The approach to this study is twofold: first several research methods were used to derive the value of time. Second, the use of advanced traveler information is introduced to determine if it plays a critical role in route choice. The proposed methodology shows differences in road user cost calculations. Which approach would be more receptive to a contractor while proposing roadway construction? A case study of a roadway construction project in El Paso, Texas, is used to compare different approaches to calculate road user costs.

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Improving Fishery Management Models and Methods

Arnarson Ingólfur, Jensson Páll

Decision Making in Manufacturing and Services

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2020

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Vol. 14, no. 2

131--143

EN

In a dynamic, environment, the decision makers make use of many different resources where two or more can act as substitutes. At each decision moment in time, the market prices will be constant, and the relative prices of accessible resources will determine the economic rationale of the process. Ignoring or downplaying the effects of substitutability of resources in dynamic economic processes may lead to mismanagement of the fish stocks and result in serious economic consequences for the respective fishing industries. For nearly five decades’ fishery managers and policy makers have used bio-economic models and methods as foundation for their management schemes. These models and methods are for the most based on the deductive methodology of economics where central assumptions are the metaphors of “equilibrium“ and “bio-economic equilibrium“. Models based on equilibrium theories are usually deterministic where dynamics of the markets are a meager part of the problem. Less attention has been offered to inductive reasoning and modeling within the field of fishery management. The inductive method of reasoning is often based on facts and actual observations within the industries, a methodology widely used by engineers and the field of business administration. In this paper, we introduce and integrate the concept of substitutability of economic resources into a traditional bio-economic model. The results show that fishery management, which bases decisions solely on traditional bio-economic models where the dynamics and consequences of the operational decision processes of the industry are ignored, may reach decisions that work opposite of their intention.