Transport Economics
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21 Terms
own transport
The transported goods must be the property of the company.
professional transport
transport by third parties
Air density ratio
1:6
Ocean density ratio
1:1
Rail density ratio
1:3
volumetric weight equation
Load Factor
Occupancy Rate
W/M is greater than the actual weight. Chargeable weight:
W/M (volumetric weight)
W/M is smaller than the actual weight. Chargeable weight:
actual weight
The actual weight is greater than the W/M. Chargeable weight:
actual weight
The actual weight is smaller than the W/M. Chargeable weight:
W/M
Optimal Order Quantity (Q)
the lowest point of the total lost curve
Square Root Law equaion
EOQ
Optimal Order Quantity
Square Root Law - D
Annual Demand (pieces)
Square Root Law - b
fixed cost/shipment
Square Root Law - h
Inventory Holding Cost/ unit/ year
consolidate inventory
combine stock
primary needs
what people truly need (the basic needs of people themselves)
Derived demand
demand for transport BECAUSE of primary needs