Virtual Container Yard: A Paradigm Shift in Container Inventory Management

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Wijeratne"> <meta name="citation_author" content="Hansa Edirisinghe"> <meta name="citation_author" content="Lakshmi Ranwala Rashika Mudunkotuwa"> <meta name="citation_publication_date" content="2021/04/01"> <meta name="citation_journal_title" content="International Journal of Transport and Vehicle Engineering"> <meta name="citation_volume" content="15"> <meta name="citation_issue" content="5"> <meta name="citation_firstpage" content="221"> <meta name="citation_lastpage" content="229"> <meta name="citation_pdf_url" content="https://publications.waset.org/10012031/pdf"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block d-lg-none navbar-toggler ml-auto" type="button" data-toggle="collapse" data-target="#navbarMenu" aria-controls="navbarMenu" aria-expanded="false" aria-label="Toggle navigation"> <span class="navbar-toggler-icon"></span> </button> <div class="w-100"> <div class="d-none d-lg-flex flex-row-reverse"> <form method="get" action="https://waset.org/search" class="form-inline my-2 my-lg-0"> <input class="form-control mr-sm-2" type="search" placeholder="Search Conferences" value="" name="q" aria-label="Search"> <button class="btn btn-light my-2 my-sm-0" type="submit"><i class="fas fa-search"></i></button> </form> </div> <div class="collapse navbar-collapse mt-1" id="navbarMenu"> <ul class="navbar-nav ml-auto align-items-center" id="mainNavMenu"> <li class="nav-item"> <a class="nav-link" href="https://waset.org/conferences" title="Conferences in 2024/2025/2026">Conferences</a> </li> <li class="nav-item"> <a class="nav-link" href="https://waset.org/disciplines" title="Disciplines">Disciplines</a> </li> <li class="nav-item"> <a class="nav-link" href="https://waset.org/committees" rel="nofollow">Committees</a> </li> <li class="nav-item dropdown"> <a class="nav-link dropdown-toggle" href="#" id="navbarDropdownPublications" role="button" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false"> Publications </a> <div class="dropdown-menu" aria-labelledby="navbarDropdownPublications"> <a class="dropdown-item" href="https://publications.waset.org/abstracts">Abstracts</a> <a class="dropdown-item" href="https://publications.waset.org">Periodicals</a> <a class="dropdown-item" href="https://publications.waset.org/archive">Archive</a> </div> </li> <li class="nav-item"> <a class="nav-link" href="https://waset.org/page/support" title="Support">Support</a> </li> </ul> </div> </div> </nav> </div> </header> <main> <div class="container mt-4"> <div class="row"> <div class="col-md-9 mx-auto"> <form method="get" action="https://publications.waset.org/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value=""> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 33093</div> </div> </div> </div> <div class="card publication-listing mt-3 mb-3"> <h5 class="card-header" style="font-size:.9rem">Virtual Container Yard: A Paradigm Shift in Container Inventory Management</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/search?q=Lalith%20Edirisinghe">Lalith Edirisinghe</a>, <a href="https://publications.waset.org/search?q=Zhihong%20Jin"> Zhihong Jin</a>, <a href="https://publications.waset.org/search?q=A.W.%20Wijeratne"> A.W. Wijeratne</a>, <a href="https://publications.waset.org/search?q=Hansa%20Edirisinghe"> Hansa Edirisinghe</a>, <a href="https://publications.waset.org/search?q=Lakshmi%20Ranwala%20Rashika%20Mudunkotuwa"> Lakshmi Ranwala Rashika Mudunkotuwa</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A paradigm shift in container inventory management (CIM) is a long-awaited industry need. Virtual container yard (VCY) is a concept developed in 2013 and its primary objective is to minimize shipping transport cost through implementing container exchange between carriers. Shipping lines always try to maintain lower container idle time and provide higher customer satisfaction. However, it is disappointing to note that carriers turn a blind eye to the escalating cost resulted from the present inefficient CIM mechanism. The cost of empty container management is simply transferred to the importers and exporters as freight adjustments. It also creates an environmental hazard. Therefore, it has now become a problem for the society. Therefore, a paradigm shift may be required as the present CIM system is not working for common interests of human beings as it should be. <iframe src="https://publications.waset.org/10012031.pdf" style="width:100%; height:400px;" frameborder="0"></iframe> <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/search?q=Virtual%20container%20yard" title="Virtual container yard">Virtual container yard</a>, <a href="https://publications.waset.org/search?q=imbalance" title=" imbalance"> imbalance</a>, <a href="https://publications.waset.org/search?q=management" title=" management"> management</a>, <a href="https://publications.waset.org/search?q=inventory" title=" inventory"> inventory</a>, <a href="https://publications.waset.org/search?q=container%20inventory%20management." title=" container inventory management."> container inventory management.</a> </p> <a href="https://publications.waset.org/10012031/virtual-container-yard-a-paradigm-shift-in-container-inventory-management" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/10012031/apa" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">APA</a> <a href="https://publications.waset.org/10012031/bibtex" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">BibTeX</a> <a href="https://publications.waset.org/10012031/chicago" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">Chicago</a> <a href="https://publications.waset.org/10012031/endnote" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">EndNote</a> <a href="https://publications.waset.org/10012031/harvard" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">Harvard</a> <a href="https://publications.waset.org/10012031/json" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">JSON</a> <a href="https://publications.waset.org/10012031/mla" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">MLA</a> <a href="https://publications.waset.org/10012031/ris" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">RIS</a> <a href="https://publications.waset.org/10012031/xml" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">XML</a> <a href="https://publications.waset.org/10012031/iso690" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">ISO 690</a> <a href="https://publications.waset.org/10012031.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">595</span> </span> <p class="card-text"><strong>References:</strong></p> <br>[1] D.-P. Song and J. Carter, "Empty container repositioning in liner shipping," Maritime Policy & Management: The flagship journal of international shipping and port research, vol. 36, no. 4, pp. 291-307, 2009. <br>[2] J.-X. Dong, J. Xu and D.-P. Song, "Assessment of empty container repositioning policies in maritime transport," The International Journal of Logistics Management, vol. 24, no. 1, pp. 49-72, 2013. <br>[3] J. Karmelic, Č. Dundovic and I. Kolanovic, "Empty Container Logistics," Transport Logistics Review –Traffic & Transportation, vol. 24, no. 3, pp. 223-230, 2012. <br>[4] L. Edirisinghe and J. Zhihong, "The Benefits of Container Exchange between Carriers: A Case Study," Moratuwa, 2016 a. <br>[5] P. M. Alderton, Reeds Sea Transport Operation and Economics, Fifth ed., London: Adlard Coles Nautical, 2004. <br>[6] alphaliner.com, "Alphaliner - TOP 100," 2020. (Online). Available: http://www.alphaliner.com/top100/. (Accessed 29 04 2020). <br>[7] A. Whiteman, "Empty container repositioning costs the shipping industry up to $20bn a year," 2016. (Online). Available: https://theloadstar.com/empty-container-repositioning-costs-shipping-industry-20bn-year/. (Accessed 29 04 2020). <br>[8] L. Edirisinghe, Z. Jin and A. Wijeratne, "Container Inventory Management: Factors influencing Container Interchange," in 13th International Conference on Business Management, Sri Jayawardanepura, 2016 b. <br>[9] L. Edirisinghe, J. Zhihong and A. Wijeratne, "Evaluation of Expected Payoff through Container interchange between shipping lines: a solution to container inventory imbalance in Sri Lanka," Int. J. Logistics Systems and Management, vol. 21, no. 4, pp. 503-533, 2015. <br>[10] FMC, "Study of the 2008 Repeal of the Liner Conference Exemption from European Union Competition Law," Federal Maritime Commission, Washington, DC, 2012. <br>[11] L. Edirisinghe and Z. Jin, "The Reality of Container Exchange between Carriers: Clearing the Pathway to Virtual Container Pool," Transport Policy, vol. 72, no. December 2018, pp. 55-66, 2018. <br>[12] L. Edirisinghe, J. Zhihong and A. Wijeratne, "Container Interchange: the 6 R Model Approach," in GOL University of LeHavre available online http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=8378070&isnumber=8378066, Le Havre, France, 2018 c. <br>[13] L. Edirisinghe, Z. Jin and A. Wijeratne, "Container Inventory Management: introducing the 3 F model," International Journal of Logistics Systems and Management, vol. 31, no. 3, pp. 363 - 386, 2018. <br>[14] L. Edirisnghe, Z. Jin and A. Wijeratne, "An Index to Evaluate Carrier Competence in Container Inventory Management," in Research for Transport and Logistics Industry Proceedings of the 2nd International Conference, Colombo, 2017. <br>[15] Cambridge University Press, "Cambridge University Press 2020," 2020. (Online). Available: https://dictionary.cambridge.org/dictionary/english/paradigm-shift. (Accessed 29 04 2020). <br>[16] M. Shinohara, "Paradigm Shift in Maritime Transport," The Asian Journal of Shipping and Logistics, vol. 25, no. 1, pp. 57-67, 2009. <br>[17] KnowledgeBrief, "KnowledgeBrief," 2020. (Online). Available: https://www.kbmanage.com/concept/paradigms. (Accessed 29 04 2020). <br>[18] L. Edirisinghe, J. Zhihong and A. Wijeratne, "The Global Impact of Container Inventory Imbalance and the Factors that Influence Container Inventory Management Strategies," in 13th International Conference on Business Management, Sri Jayawardanepura, 2016 a. <br>[19] M. Stopford, Maritime Economics, 3 ed., Oxon: Routledge, 2009. <br>[20] M. P. d. Brito and R. Konings, "Container management strategies to deal with the East-West flows imbalance," n.d.. (Online). Available: http://www.fucam.ac.be/S%C3%A9minaires,%20conf%C3%A9rences%20et%20colloques/Nectar/images/debrito_konings.pdf. (Accessed 26 April 2013). <br>[21] S. Bose, V. Kannan and N. Kannan, "Improving the service quality of ocean container carriers:an Indian case study," Benchmarking: An International Journal, vol. 19 , no. 6, pp. 709-729, 2012. <br>[22] A. Tidström, "Causes of conflict in intercompetitor cooperation," Journal of Business & Industrial Marketing, vol. 24, no. 7, p. 506–518, 2009. <br>[23] M. Z. Solesvik and S. Encheva, "Partner selection for interfirm collaboration in ship design," Industrial Management & Data Systems, vol. 110, no. 5, pp. 701-717, 2010. <br>[24] M. Z. Solesvik and S. Encheva, "Industrial Management & Data Systems," vol. 110, no. 5, pp. 701-717, 2010. <br>[25] BMI, "Japan Shipping Report Q2 2012," Business Monitor International Ltd, London, 2012. <br>[26] alphaliner.com, "Alphaliner top 100," www.alphaliner.com, 14 11 2016. (Online). Available: http://www.alphaliner.com/top100/. 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Virtual Container Yard: A Paradigm Shift in Container Inventory Management