With a significant growth projected in commerce partially due to globalization, freight traffic is expected to double in the next 30 years. Highway congestion is being exacerbated. Late freight delivery is increasingly impacting private-sector production and logistics operations. In addition, freight delay is accompanied by escalating freight cost. According to MacroSys Research and Technology (2005), transportation cost increased from $228 billion in 1981 to $577 billion in 2002. Freight delay is detrimental to the national economy. Researchers and planners need to understand the impact of delay on stakeholders in order to effectively address the issue of freight delay and highway congestion. The impact of delay is usually measured using a monetary value such as U.S. dollars. Although the general concept of value of delay or value of time has been studied for decades, most studies are about commuters or commercial vehicle drivers perceived value of time. Little research has been conducted regarding the value of delay (VOD) from the perspective of shippers. Freight delay impacts shippers in many ways. In normal cases, freight delay and travel time reliability affect shippers decisions on the safety stock in inventory. In an extreme case, if a shipper operates a just-in-time production system, freight delay directly leads to loss of productivity and even loss of sales.


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    Title :

    Assessing Public Benefits and Costs of Freight Transportation Project: Measuring Shippers' Value of Delay on the Freight System


    Contributors:
    Q. Gong (author) / Q. Miao (author) / B. X. Wang (author) / T. M. Adams (author)

    Publication date :

    2012


    Size :

    62 pages


    Type of media :

    Report


    Type of material :

    No indication


    Language :

    English




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