Port of Spain, Trinidad and Tobago (May 30, 2013) – The University of Miami's Center for Advanced Supply Chain Management (CASCM), in collaboration with Arthur Lok Jack Graduate School of Business (ALJGSB), recently completed a study to develop the Logistics Performance Index (LPI) for Trinidad and Tobago. Established by the World Bank, LPI measures logistics "friendliness" of the countries for operators trading in and with those countries.
According to The World Bank, LPI helps countries identify the challenges and opportunities they face in their trade logistics performance and what they can do to improve. Supported by the Ministry of Trade, Industry and Investment of Trinidad and Tobago, InvesTT, and The Shipping Association & Plipdeco, the UM study has followed the methodologies and metrics adopted by the World Bank. The results of the study were reported to Honorable Minister Vasant Bharat on May 28, 2013 in Port of Spain. UM ranked Trinidad and Tobago 68th of 155 countries they ranked.
The LPI is calculated based on feedback received from surveys conducted with logistics companies operating at domestic and/or international levels. It integrates both qualitative and quantitative measures into a single score ranging from 1 to 5 for a country. A higher score signifies a better performance in logistics friendliness in trade related operations. The index is compiled as weighted average of six distinct scores including efficiency of the clearance process at customs, quality of trade and transport related infrastructure, ease of arranging competitive pricing for shipments, competence and quality of logistics services, ability to track and trace consignments, and timeliness of shipments. The scores are used to build country rankings to demonstrate relative performances.
World Bank conducts the LPI Survey every two years to improve the reliability and value of the country scores. Due to lack of response volume from surveys, Trinidad and Tobago has not been included in the World Bank's LPI reports. While the study was initiated with the goal of gaining valuable insights pertaining to Trinidad and Tobago's trade logistics performance, it was also motivated by the efforts towards the country's inclusion in the World Bank's coverage.
Dr. Miguel Carrillo, the director of ALJGSB of Trinidad and Tobago emphasized this point. "The study is quite instrumental in providing critical information regarding the state of the business logistics in Trinidad and Tobago and thus, enhancing the awareness of our community at large and the logistics sector in particular," he said. "We anticipate that this will lead to increased participation in the LPI World Bank surveys for this country that has become an active player in international trade in recent years with her rich natural resources."
"This study has been significant from two standpoints," commented Dr. Murat Erkoc, the director of University of Miami's CASCM and an associate professor of Industrial Engineering. "For one, this has been an exemplary collaboration between two educational institutions at international level with different academic disciplines. While as engineers we were running algorithms and crunching numbers, our partners at ALJGSB in overseas put our figures into perspective for their country," he said. "Second, this study has been a great opportunity for our Center in learning and conducting research about supply chains in the neighboring regions. We distinguish ourselves from our sister centers across the nation with our research primarily focusing on Latin America, Caribbean Basin and South Florida," he added. "This only makes sense as we are located in South Florida which has been and is continuing to be the primary logistical hub of North America for those regions."
The results of the study were presented and delivered to the Minister by Salvador Romo, the Industry advisor of CASCM and a Ph.D. candidate at the UM Department of Industrial Engineering in an event held in Port of Spain on May 28. The full study is available upon request.
Annette Gallagher | EurekAlert!
Study sets new distance record for medical drone transport
13.09.2017 | Johns Hopkins Medicine
Researchers 'count cars' -- literally -- to find a better way to control heavy traffic
10.08.2017 | Florida Atlantic University
Breakthrough provides a new concept of the design of molecular motors, sensors and electricity generators at nanoscale
Researchers from the Institute of Organic Chemistry and Biochemistry of the CAS (IOCB Prague), Institute of Physics of the CAS (IP CAS) and Palacký University...
For photographers and scientists, lenses are lifesavers. They reflect and refract light, making possible the imaging systems that drive discovery through the microscope and preserve history through cameras.
But today's glass-based lenses are bulky and resist miniaturization. Next-generation technologies, such as ultrathin cameras or tiny microscopes, require...
Scientists from the University of Zurich have succeeded for the first time in tracking individual stem cells and their neuronal progeny over months within the intact adult brain. This study sheds light on how new neurons are produced throughout life.
The generation of new nerve cells was once thought to taper off at the end of embryonic development. However, recent research has shown that the adult brain...
Theoretical physicists propose to use negative interference to control heat flow in quantum devices. Study published in Physical Review Letters
Quantum computer parts are sensitive and need to be cooled to very low temperatures. Their tiny size makes them particularly susceptible to a temperature...
Let’s say the armrest is broken in your vintage car. As things stand, you would need a lot of luck and persistence to find the right spare part. But in the world of Industrie 4.0 and production with batch sizes of one, you can simply scan the armrest and print it out. This is made possible by the first ever 3D scanner capable of working autonomously and in real time. The autonomous scanning system will be on display at the Hannover Messe Preview on February 6 and at the Hannover Messe proper from April 23 to 27, 2018 (Hall 6, Booth A30).
Part of the charm of vintage cars is that they stopped making them long ago, so it is special when you do see one out on the roads. If something breaks or...
15.02.2018 | Event News
13.02.2018 | Event News
12.02.2018 | Event News
16.02.2018 | Information Technology
16.02.2018 | Health and Medicine
16.02.2018 | Physics and Astronomy