The process of receiving, categorizing, packing, and planning is called logistic management. Imex Cargo LLC is a cargo airline that majors in logistics. According to the Briefing room (2021) blog, the company had losses due to various logistics challenges. This study, therefore, aims at assessing the impacts of logistics management on the profitability of the airline. To summarize, a deeper understanding of logistics and logistics management is essential in understanding the profitability of any company, and therefore this study focuses on Imex Cargo LLC.
The following research questions, in particular, must be addressed:
- What are some of the typical restrictions encountered in logistics management?
- How may the profitability of Imex Cargo LLC be improved through logistic management?
- What are current industrial practices and research advances in logistic management?
This study’s goal is to assess the impact of logistic management on the profitability of a logistics company Imex Cargo LLC. The research has the following sub-objectives in particular:
- To assess the impact of logistic management on the profitability of Imex Cargo LLC
- To examine current industrial practices and development on logistic management.
- To provide a conceptual framework for totally managing constraints.
The findings of this study will help Imex Cargo LLC develop better logistic management practices and solutions.
According to Briefing Room(2021), we can find that the import and export volume of containers has increased sharply this year due to the impact of the epidemic. For example, in October, a port in Los Angeles imported 849000 loaded containers. This brings the total number of containers they have imported between January and October to 8.6 million, which is 16 percent more than their previous record over the same period in 2018 (2021). Moreover, the change of this phenomenon is getting worse this year.
The main reason for this loss is pandemics. The pandemic’s beginning has led to a severe decline in productivity in the United States. There is an urgent need for ordinary daily necessities, such as vegetables or other everyday conditions. There are also auto parts and so on. At this time, these goods need to be imported from other countries by sea. This is why there are so many full containers on the pier. Another reason is that because the import of products from other countries to the United States is reduced, many potent containers will be left in the United States, significantly increasing the shipping price and making the port more congested.
Through this image, we can understand that the price of shipping has been soaring recently. Suppose you want the company to obtain more customers or reduce unnecessary logistics costs under this unique situation. In that case, the best way is to find cheaper airline routes or reduce international logistics packages by other means, or you can focus on China during this period; when that problem is solved, we should pay attention to global logistics. The contributions of the Logan International airport data conducted in 2019 help the authors generate the study’s significant findings. For instance, the Long International Airport data assisted in utilizing the Boruta algorithm used in selecting features.
Features selection is a fundamental process used in machine learning technology. The authors verified the effectiveness of the Boruta algorithm by performing an experimental comparison that provided consistent results. Also, the study proposes a flight delay prediction categorization approach based on a stacking algorithm. According to Yi et al. (2021), the main attribute of this approach is the use of Naïve Bayes and the second-level learners. The criteria expressed by the authors suggest that the latter system uses Logistic Regression. The experiment was done at the Boston Logan International Airport shows that Random Forest demonstrated the best overall performance.
The principal research methodologies employed in this study were a literature review and conceptual modeling. The first step toward better logistic management is to use a systematic strategy to identify and classify limitations. The first section of this study will look at the many types of logistical management limits at Imex Cargo LLC. A classification technique for characterizing logistical components will be developed based on this information for the purposes of profitability evaluation. The second step of this study will identify Imex’s current logistical techniques. Finally, a conceptual framework for whole logistics management will be established.
BRIEFING ROOM, NOVEMBER 17, 2021 • BLOG. Recent Progress at Our Ports: Moving Cargo and Filling Shelves, from https://www.whitehouse.gov/briefing-room/blog/2021/11/17/recent-progress-at-our-ports-moving-cargo-and-filling-shelves/
Yi, J., Zhang, H., Liu, H., Zhong, G., & Li, G. (2021). Flight Delay Classification Prediction Based on Stacking Algorithm. Journal of Advanced Transportation, 2021.