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Ranking of factors contributing to higher performance in the ocean transportation industry: a multi-attribute utility theory approach

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  • I. N. Lagoudis
  • C. S. Lalwani
  • M.M. Naim

Abstract

Ocean transportation has been mainly studied from an economic and strategic point of view. This paper adopts an operations management approach aiming at the identification of the value-adding attributes that characterize the ocean transportation industry. This is achieved by using Johansson et al .'s 1 four value metrics—service, quality, cost, time—which are used for the identification of the contribution that different factors make to the total created value. In this paper, multi-attribute utility theory (MAUT) has been used to measure and compare the value of different processes of various sectors of the ocean transportation industry. The application of MAUT methodology is illustrated with an example from the four sectors of the industry: liner, dry bulk, liquid bulk and specialized. Results suggest that there is strong emphasis placed by ocean transportation companies on quality and that there is differentiating importance put on service and cost by different sectors. Time is seen as the lowest value contributor by all four sectors of the surveyed companies.

Suggested Citation

  • I. N. Lagoudis & C. S. Lalwani & M.M. Naim, 2006. "Ranking of factors contributing to higher performance in the ocean transportation industry: a multi-attribute utility theory approach," Maritime Policy & Management, Taylor & Francis Journals, vol. 33(4), pages 345-369, September.
    • Handle: RePEc:taf:marpmg:v:33:y:2006:i:4:p:345-369
    DOI: 10.1080/03088830600895568
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    Cited by:

    1. Rui Cunha Marques & Álvaro Fonseca, 2010. "Market structure, privatisation and regulation of Portuguese seaports," Maritime Policy & Management, Taylor & Francis Journals, vol. 37(2), pages 145-161, March.
    2. Yuen, Kum Fai & Thai, Vinh V. & Wong, Yiik Diew, 2017. "Corporate social responsibility and classical competitive strategies of maritime transport firms: A contingency-fit perspective," Transportation Research Part A: Policy and Practice, Elsevier, vol. 98(C), pages 1-13.
    3. Akpan, Uduak & Morimoto, Risako, 2022. "An application of Multi-Attribute Utility Theory (MAUT) to the prioritization of rural roads to improve rural accessibility in Nigeria," Socio-Economic Planning Sciences, Elsevier, vol. 82(PB).
    4. Kum Fai Yuen & Vinh V. Thai, 2017. "Corporate social responsibility and service quality provision in shipping firms: financial synergies or trade-offs?," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(1), pages 131-146, January.
    5. Konidari, Popi & Mavrakis, Dimitrios, 2007. "A multi-criteria evaluation method for climate change mitigation policy instruments," Energy Policy, Elsevier, vol. 35(12), pages 6235-6257, December.
    6. Michael J. Maloni & David M. Gligor & Ioannis N. Lagoudis, 2016. "Linking ocean container carrier capabilities to shipper–carrier relationships: a case study," Maritime Policy & Management, Taylor & Francis Journals, vol. 43(8), pages 959-975, November.
    7. Yuen, Kum Fai & Thai, Vinh V. & Wong, Yiik Diew & Wang, Xueqin, 2018. "Interaction impacts of corporate social responsibility and service quality on shipping firms’ performance," Transportation Research Part A: Policy and Practice, Elsevier, vol. 113(C), pages 397-409.
    8. Peng, Zixuan & Shan, Wenxuan & Guan, Feng & Yu, Bin, 2016. "Stable vessel-cargo matching in dry bulk shipping market with price game mechanism," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 95(C), pages 76-94.
    9. Océane Balland & Cecilia Girard & Stein Ove Erikstad & Kjetil Fagerholt, 2015. "Optimized selection of vessel air emission controls--moving beyond cost-efficiency," Maritime Policy & Management, Taylor & Francis Journals, vol. 42(4), pages 362-376, May.
    10. Lagoudis, Ioannis N. & Theotokas, Ioannis, 2007. "Chapter 4 The Competitive Advantage in the Greek Shipping Industry," Research in Transportation Economics, Elsevier, vol. 21(1), pages 95-120, January.
    11. Al-Baraa Abdulrahman Al-Mekhlafi & Ahmad Shahrul Nizam Isha & Nicholas Chileshe & Mohammed Abdulrab & Ahmed Farouk Kineber & Muhammad Ajmal, 2021. "Impact of Safety Culture Implementation on Driving Performance among Oil and Gas Tanker Drivers: A Partial Least Squares Structural Equation Modelling (PLS-SEM) Approach," Sustainability, MDPI, vol. 13(16), pages 1-17, August.

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