TITLE:
A Heuristic on Risk Management System in Goods Transportation Model Using Multi-Optimality by MODI Method
AUTHORS:
Md. Ashraful Babu, Jahira Tabassum, Md. Nazmul Hassan
KEYWORDS:
Transportation Problem, Multi-Optimality, Modified Distribution Method (MODI), Risk Factors, Transport Risk Management
JOURNAL NAME:
Open Journal of Applied Sciences,
Vol.6 No.8,
August
26,
2016
ABSTRACT: Transport risk management is one of the predominant issues to any industry for supplying their goods safely and in time to their beneficiaries. Damaging goods or delaying the shipping both make penalty to the company and also reduce the goodwill of the company. Every way of transportation routes has to be comfy which can make sure the supplies will attain without damaging goods and in time and additionally cost efficiently. In this paper, we find a few not unusual risks which might be concerned about all types of way of routes which include Highway, Waterway, Airway, Railway and so forth. Additionally, we proposed a technique to attain multiple optimal solutions by using Modified Distribution Method (MODI) of a transportation problem. Finally, we reduce the risks by minimizing the possible number of transportation routes using multi-optimality technique of the transportation problem.