ANALYSIS OF COST OPTIMIZATION OF PORT OPERATIONS

ANALYSIS OF COST OPTIMIZATION OF PORT OPERATIONS

Abstract

It is self-evident that the primary goal of any business venture is to make a profit. Though profit grows over time, better planning, analysis, and implementation can bring efficiency, stability, and much-needed profit in unexpected ways.

The Nigerian economy’s maritime sector has a lot of resources that are used in the course of its day-to-day operations. This sector’s resources range from human to financial to technological know-how.

This research study is thus determined to optimize the cost of port operations in Nigeria using a linear programming model to critically analyze it.

The quantitative estimates used in this case were concerned with

with the activities associated with Nigerian port operations, the costs and benefits derived by port users, and so on.

As previously stated, the cost components associated with the vessel-port relationships were used to create a Linear Programming Model. An optimal solution was found using M for Windows Software.

The outcome indicated the lowest cost of port operations as well as the best time frames for the decision variables of port operations under consideration.

This serves as a foundation for future projections in order to determine the range of constraints and decision variables for which Nigeria port operations could be conducted at a low cost.

TABLE OF MATERIALS

PAGE TITLE

DEDICATION

ACKNOWLEDGEMENT

ABSTRACT

TABLE OF MATERIALS

CHAPITRE ONE

INTRODUCTION

1.2 THE STUDY’S OBJECTIVES

1.3 PURPOSE STATEMENT

1.4 QUESTION FOR RESEARCH

1.5 THE STUDY’S IMPORTANCE

1.6 STUDY OBJECTIVES

1.7 THE STUDY’S LIMITATIONS

1.8 TERM DEFINITION

CHAPITRE TWO

REVIEW OF LITERATURE

2.1 THE COST OPTIMIZATION CONCEPT

2.2 REQUIREMENT FOR A COST-OPTIMIZATION STRATEGY

2.3 COST OPTIMIZATION STEPS

PREPARATION IS THE FIRST PHASE.

PRACTICAL EXECUTION: PHASE B

PHASE C: PROGRESS VERIFICATION

2.4 COST OPTIMIZATION STRATEGIES IMPLEMENTATION

2.5 COST OPTIMIZATION TECHNIQUES AS THEY APPLY TO

2.6 ELEMENT OF COST TRAINING AS A LABOR COST OPTIMIZATION STRATEGY

2.5 RATE REDUCTIONS IN LABOR TURNOVER AS A STRATEGY

FOR LABOR COST REDUCTION

COST OPTIMIZATION REPORT 2.7 OVERHEAD COST OPTIMIZATION TECHNIQUES

2.8 COST OPTIMIZATION STRATEGIES PROBLEM

REFERENCES

CHAPITRE THREE

THE METHODOLOGY OF RESEARCH

3.1 DATA SOURCES

3.2 DATA ANALYSIS METHOD

3.2.1 THE MODEL OF LINEAR PROGRAMMING

3.2.2 DEFINITION OF OBJECTIVE FUNCTION VARIABLES

CHAPITRE FOUR

RESULTS AND DEBATE

4.1 DESCRIPTION AND PRESENTATION OF DATA

Table 4.1 Port operations and expenses based on averages of various types of cargo

Linear Programming Model for Nigerian Port Operations (Table 4.2)

Table 4.3 RANGING

Variable explanation Table 4.4: Solution Listing

DISCUSSION OF THE RESULT

CHAPITRE FIVE

RECOMMENDATIONS AND RESULT OF FINDINGS

CONCLUSIONS

5.1 FINDINGS SUMMARY

RECOMMENDATIONS 5.2

5.3 FINAL REMARKS

BIBLIOGRAPHY

APPENDIX

PORT OPERATIONS COST OPTIMIZATION ANALYSIS (A LINEAR PROGRAMMING APPROACH)