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Apr 3, 2024

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Assignment2.Davis Chapter 3 2. Describe the attributes of information quality and how they impact transportation decision making. -Accuracy ; A true picture, depicting reality, free of errors facilitates logical decision making. -Accessibility ; Accurate transportation information must be available to supply chain. -Relevancy ; Pertinent information for analysis and decision making is needed as irrelevant data and unnecessary details must be avoided because they hide important details, waste time, and distract decision makers. -Timeliness ; Timely data allows you to monitor network conditions and respond quickly with corrective actions to avoid problems. -Transferability ; Information needs to be transferred quickly between locations and systems in the transportation network to facilitate accessibility and timeliness. -Usability ; Information is only usable if it can be seamlessly shared and translated from one format to another with no discernible loss of data which can drive effective decision making. -Reliability ; Information contained in transportation reports and transaction data sets must come from trustworthy internal and external sources, unaltered and reasonably complete to support the intended uses. -Value ; Information technology investments that enhance knowledge and generate tangible benefits. 4. What are some of the most valuable TMS functionalities? How do they contribute to both cost reduction and service improvement? -Track and trace ; If the shipment is behind schedule, stopped, or off-route, notifications are made so that corrective action can be taken. -Performance monitoring ; Use this output resourcefully for making effective decisions, identifying needs and key areas of functional enhancement, and evaluating the effectiveness of existing strategies. -Freight bill auditing ; To ensure that they are neither being overcharged nor undercharged for freight services, prior to making payments. 7. How is new equipment technology contributing to transportation sustainability initiatives? New technologies are contributing to transportation sustainability initiatives by improving fuel efficiency through use of more aerodynamic designs and by using more technologically advanced engines. Additionally, there has been looks towards using renewable energy sources and electric power on a commercial level.
9. Discuss how transportation professionals are deploying technology in their quest to minimize freight theft. Transportation professionals employ a multilayered approach that incorporates the latest technology and fine-tuned basic practices, such as preemployment background checks, extensive staff training, and validation of driver credentials when tendering loads. Global positioning satellite (GPS) tracking systems, onboard sensors and analytics, and intelligence information sharing are three technology-based cargo security initiatives that can be used to combat criminals. Also, Geofencing technology allows users to define geographical boundaries that can be used to enhance freight control and tracking. Internet of Things sensors can be integrated into asset tracking solutions for an additional layer of cargo security as well. Chapter 4 2. Describe an oligopolistic market structure. What alternatives to price competition exist in such markets? Why would these alternatives be important to shippers? An oligopolistic market structure is when you have a few large sellers in competition and an individual seller is aware that in changing price, output, sales promotion activities, or the quality of their product, the reactions of competitors must be considered. 5. What is a released value rate and how does its use affect a shipper’s transportation costs? Released value rates are lower than the regular full-value rates because of the reduced carrier liabilities. Unlike the regular rates where shippers get up-to-total-value carrier compensation in the event of loss or damage, the released value rates impose the carriers only a limited obligation up to certain upper- bound dollar amounts per pound shipped. 7. How might pricing strategies differ among carriers in competitive markets, oligopolistic markets, and monopolistic markets? In a competitive market the strategy of pricing will be determined by the market price not to be influence by sellers or the buyers. In a monopolistic market, the seller can set the price for the service offered and should adjust the price to its advantage, given the demand curve. In the oligopolistic market each seller must consider competitors’ reactions in making pricing decisions. 8. What are the various factors used in classifying commodities for tariff purposes? The factors that are used to determine the rating of a specific commodity are the product characteristics that impact the carrier’s costs. In particular, the ICC has ruled, and the STB has maintained that four factors are to be considered: product density, storability, handling, and liability. -Anthony
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