Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable Development
The logistics industry can be considered as the economic lifeline of each country because of its role in connecting production and business activities of enterprises and promoting socio-economic development between regions and countries. However, the COVID-19 pandemic, which began at the end of 2019...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-08-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/9/16/1977 |
| _version_ | 1797522980719296512 |
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| author | Han Khanh Nguyen |
| author_facet | Han Khanh Nguyen |
| author_sort | Han Khanh Nguyen |
| collection | DOAJ |
| description | The logistics industry can be considered as the economic lifeline of each country because of its role in connecting production and business activities of enterprises and promoting socio-economic development between regions and countries. However, the COVID-19 pandemic, which began at the end of 2019, has seriously affected the global supply chain, causing heavy impacts on the logistics service sector. In this study, the authors used the Malmquist productivity index to assess the impact of the pandemic on logistics businesses in Vietnam. Moreover, the authors used a super-slack-based model to find strategic alliance partners for enterprises. The authors also used the Grey forecasting model to forecast the business situation for enterprises during the period 2021–2024, in order to provide the leaders of these enterprises with a complete picture of their partners as a solid basis for making decisions to implement alliances that will help logistics enterprises in Vietnam to develop sustainably. The results have found that the alliance between LO<sub>7</sub> and LO<sub>10</sub> is the most optimal, as this alliance can exploit freight in the opposite direction and reduce logistics costs, creating better competitiveness for businesses. |
| first_indexed | 2024-03-10T08:37:00Z |
| format | Article |
| id | doaj.art-571ee8c8d05f4207aa6cb6b58ae8b8f8 |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-03-10T08:37:00Z |
| publishDate | 2021-08-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-571ee8c8d05f4207aa6cb6b58ae8b8f82023-11-22T08:34:43ZengMDPI AGMathematics2227-73902021-08-01916197710.3390/math9161977Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable DevelopmentHan Khanh Nguyen0Faculty of Economics, Thu Dau Mot University, Number 6, Tran Van On Street, Phu Hoa Ward, Thu Dau Mot 590000, VietnamThe logistics industry can be considered as the economic lifeline of each country because of its role in connecting production and business activities of enterprises and promoting socio-economic development between regions and countries. However, the COVID-19 pandemic, which began at the end of 2019, has seriously affected the global supply chain, causing heavy impacts on the logistics service sector. In this study, the authors used the Malmquist productivity index to assess the impact of the pandemic on logistics businesses in Vietnam. Moreover, the authors used a super-slack-based model to find strategic alliance partners for enterprises. The authors also used the Grey forecasting model to forecast the business situation for enterprises during the period 2021–2024, in order to provide the leaders of these enterprises with a complete picture of their partners as a solid basis for making decisions to implement alliances that will help logistics enterprises in Vietnam to develop sustainably. The results have found that the alliance between LO<sub>7</sub> and LO<sub>10</sub> is the most optimal, as this alliance can exploit freight in the opposite direction and reduce logistics costs, creating better competitiveness for businesses.https://www.mdpi.com/2227-7390/9/16/1977mathematical modellingmodelling in economicsimpact of the COVID-19logistics businesses |
| spellingShingle | Han Khanh Nguyen Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable Development Mathematics mathematical modelling modelling in economics impact of the COVID-19 logistics businesses |
| title | Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable Development |
| title_full | Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable Development |
| title_fullStr | Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable Development |
| title_full_unstemmed | Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable Development |
| title_short | Application of Mathematical Models to Assess the Impact of the COVID-19 Pandemic on Logistics Businesses and Recovery Solutions for Sustainable Development |
| title_sort | application of mathematical models to assess the impact of the covid 19 pandemic on logistics businesses and recovery solutions for sustainable development |
| topic | mathematical modelling modelling in economics impact of the COVID-19 logistics businesses |
| url | https://www.mdpi.com/2227-7390/9/16/1977 |
| work_keys_str_mv | AT hankhanhnguyen applicationofmathematicalmodelstoassesstheimpactofthecovid19pandemiconlogisticsbusinessesandrecoverysolutionsforsustainabledevelopment |