Optimizing Car Imports in Small Island States

Authors

  • Shiva Ramoudith Department of Computing and Information Technology, The University of the West Indies, Trinidad
  • Patrick Hosein Department of Computing and Information Technology, The University of the West Indies, Trinidad
  • Kevin Blake-Thomas Massy Technologies Ltd., Trinidad

DOI:

https://doi.org/10.3126/ijorn.v8i1.51851

Keywords:

inventory forecasting, purchase optimization, business intelligence, time series

Abstract

In most Small Island Developing States (SIDS), automobile dealers must import vehicles for sale on a periodic basis. This poses a problem for SIDS as the total demand is limited and the vehicle importation costs can be high since the only delivery option is by ship. We consider this problem for a single dealer in which the importation period is fixed and we use historical data (dates on which vehicles are bought, received and sold) to predict which brands/models should be purchased as well as the quantities of each to purchase using simple exponential smoothing. We demonstrate the potential of this method by investigating the time in which a vehicle spends on the lot as well as the probability of a vehicle being on the lot.

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Published

2019-12-31

How to Cite

Ramoudith, S., Hosein, P., & Blake-Thomas, K. (2019). Optimizing Car Imports in Small Island States. International Journal of Operational Research/Nepal, 8(1), 53–63. https://doi.org/10.3126/ijorn.v8i1.51851

Issue

Vol. 8 No. 1 (2019)

Section

Articles

License

Copyright (c) 2019 International Journal of Operational Research/Nepal

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

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