An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm
This study compares the economic pros and cons of two bulk sugar dispensing methods for a particular firm, which will be referred in the rest of the paper as “The company”. Bulk sugar dispensing is the process of transporting sugar from a warehouse at any port to berth for loading onto a cargo ship....
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Khon Kaen University
2023-03-01
|
| Series: | Engineering and Applied Science Research |
| Subjects: | |
| Online Access: | https://ph01.tci-thaijo.org/index.php/easr/article/view/251198/170447 |
| _version_ | 1797810247312605184 |
|---|---|
| author | Phatchara Sriphrabu Chettha Chamnanlor Rujapa Nanthapodej |
| author_facet | Phatchara Sriphrabu Chettha Chamnanlor Rujapa Nanthapodej |
| author_sort | Phatchara Sriphrabu |
| collection | DOAJ |
| description | This study compares the economic pros and cons of two bulk sugar dispensing methods for a particular firm, which will be referred in the rest of the paper as “The company”. Bulk sugar dispensing is the process of transporting sugar from a warehouse at any port to berth for loading onto a cargo ship. Currently, the company has already implemented both methods in different warehouses. Type-1 starts with a backhoe scooping sugar into a rotainer, which will be loaded onto a flatbed truck (Toil). Next, the rotainer will be transported from warehouse to a buffer point, where all rotainers will be lifted by a reach stacker, and be transferred to a trailer. Then the trailer will carry the rotainer to berth, and unload the sugar onto the cargo ship. With Type-2, sugar will be transferred by a conveyor system and stored in a hopper. Next, sugar will be dispensed from the hopper to a trailer carrying a rotainer, then got transported to berth, and then unloaded onto a cargo ship. We found that the Type-2 took 35.38 minutes less than the Type-1 on average, while the Type-2 has a higher investment about 72 million baht. In our economic study, we found that labor cost increases by 5 % per year, the net present value (NPV) will be 19,280,248.69 baht, the internal rate of return (IRR) 27.50 %, the benefit-cost ratio (B/C) 4.85, and the payback period (PB) 6 years 1 month. Our economic study results indicate that Type-2 is more beneficial for the firm to invest. |
| first_indexed | 2024-03-13T07:06:25Z |
| format | Article |
| id | doaj.art-47940276c974448bb28d475ed23ed248 |
| institution | Directory Open Access Journal |
| issn | 2539-6161 2539-6218 |
| language | English |
| last_indexed | 2024-03-13T07:06:25Z |
| publishDate | 2023-03-01 |
| publisher | Khon Kaen University |
| record_format | Article |
| series | Engineering and Applied Science Research |
| spelling | doaj.art-47940276c974448bb28d475ed23ed2482023-06-06T09:04:31ZengKhon Kaen UniversityEngineering and Applied Science Research2539-61612539-62182023-03-01502121129An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firmPhatchara SriphrabuChettha ChamnanlorRujapa NanthapodejThis study compares the economic pros and cons of two bulk sugar dispensing methods for a particular firm, which will be referred in the rest of the paper as “The company”. Bulk sugar dispensing is the process of transporting sugar from a warehouse at any port to berth for loading onto a cargo ship. Currently, the company has already implemented both methods in different warehouses. Type-1 starts with a backhoe scooping sugar into a rotainer, which will be loaded onto a flatbed truck (Toil). Next, the rotainer will be transported from warehouse to a buffer point, where all rotainers will be lifted by a reach stacker, and be transferred to a trailer. Then the trailer will carry the rotainer to berth, and unload the sugar onto the cargo ship. With Type-2, sugar will be transferred by a conveyor system and stored in a hopper. Next, sugar will be dispensed from the hopper to a trailer carrying a rotainer, then got transported to berth, and then unloaded onto a cargo ship. We found that the Type-2 took 35.38 minutes less than the Type-1 on average, while the Type-2 has a higher investment about 72 million baht. In our economic study, we found that labor cost increases by 5 % per year, the net present value (NPV) will be 19,280,248.69 baht, the internal rate of return (IRR) 27.50 %, the benefit-cost ratio (B/C) 4.85, and the payback period (PB) 6 years 1 month. Our economic study results indicate that Type-2 is more beneficial for the firm to invest.https://ph01.tci-thaijo.org/index.php/easr/article/view/251198/170447bulk sugar dispensingengineering economyrotainerwarehouse |
| spellingShingle | Phatchara Sriphrabu Chettha Chamnanlor Rujapa Nanthapodej An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm Engineering and Applied Science Research bulk sugar dispensing engineering economy rotainer warehouse |
| title | An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm |
| title_full | An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm |
| title_fullStr | An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm |
| title_full_unstemmed | An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm |
| title_short | An economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm |
| title_sort | economic assessment on two investment options for bulk sugar dispensing methods in the warehouse of a seaport firm |
| topic | bulk sugar dispensing engineering economy rotainer warehouse |
| url | https://ph01.tci-thaijo.org/index.php/easr/article/view/251198/170447 |
| work_keys_str_mv | AT phatcharasriphrabu aneconomicassessmentontwoinvestmentoptionsforbulksugardispensingmethodsinthewarehouseofaseaportfirm AT chetthachamnanlor aneconomicassessmentontwoinvestmentoptionsforbulksugardispensingmethodsinthewarehouseofaseaportfirm AT rujapananthapodej aneconomicassessmentontwoinvestmentoptionsforbulksugardispensingmethodsinthewarehouseofaseaportfirm AT phatcharasriphrabu economicassessmentontwoinvestmentoptionsforbulksugardispensingmethodsinthewarehouseofaseaportfirm AT chetthachamnanlor economicassessmentontwoinvestmentoptionsforbulksugardispensingmethodsinthewarehouseofaseaportfirm AT rujapananthapodej economicassessmentontwoinvestmentoptionsforbulksugardispensingmethodsinthewarehouseofaseaportfirm |