Quantitative Methods in Aerospace Cargo Transportation Management Research Paper

Quantitative Methods in Aerospace Cargo Transportation Management - Research Paper Example interest pattern based strategy, analyzing the current trends, forecast and other predictive models, it is absolutely necessary to ensure potentially significant changes and improvements are introduced in cargo exile management. Appropriate decision making cycle is required today to meet tomorrows market demands . The key drivers that will dominate the air cargo world in the years to come are its standards, security and seamless movement across borders. This study will highlight the initiatives driven by important governing bodies same(p) IATA, TIACA, Cargo Committee, Cargo Executive Summit to achieve those very goals of optimization and superior standards of cargo management.Significant gains in productivity can be achieved through sophisticated and more efficient IT-support and improved software systems, as well as automated transportation and handling equipment. The primary objective of th is study is to reflect a few challenges and to present new insights and successful solutions to operational problems of cargo systems and cargo management. It has to be a collective effort with focus on the state of the art, applications of duodecimal methods, as well as simulation results backed by authorities like IATA, TIACA and others whose initiative are in the interest of the industry. Initiatives are mainly retentivity the larger picture in mind, to accommodate globalization of logistics, process complexity, need for fore cast, cost control, operational performance, Air freight company objectives, industry landscape, enhance technology to support optimization.2. Overview - Air CargoFacts from IATA Air Cargo is a US$50 billion avocation that transports 35% of the value of goods traded internationally and a critical part of the airline business which, as a whole, is the US$490 billion heart of a value chain that supports 32 million jobs and US$3.5 trillion of economic activi ty. It is an important industry that is critical to global business.While IATA continues in its endeavour to improve Aviation industrys competitiveness by cutting drome charges, improving fuel efficiency and other initiatives, there is focussed approach as far as Cargo priorities are concerned. Their attempt to simplify the business is already delivering results. E-freight is a reality and their US$28 billion settlement system is the supply chains financial backbone which will be discussed further in the below sections. Apart from E-freight, their priorities include Cargo Safety, Cargo Security, Cargo and Environment, CASS and agency programmes along with Cargo Standards.It is imperative, IATAs priorities in Cargo Management ideally is the basic intimate based on which numeric methods for Aerospace Cargo Transportation Management have to be developed and implemented. Before there is further detailing on quantitative methods, a quick glance at the key drivers of Cargo world and it s potential impact on business are listed belowReduce direct costs Maintain optimum levels of