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Publication date: 10 September 2024

Liang Ren, Zerong Zhou, Yaping Fu, Ao Liu and Yunfeng Ma

This study aims to examine the impact of the decision makers’ risk preference on logistics routing problem, contributing to logistics behavior analysis and route integration…

183

Abstract

Purpose

This study aims to examine the impact of the decision makers’ risk preference on logistics routing problem, contributing to logistics behavior analysis and route integration optimization under uncertain environment. Due to the unexpected events and complex environment in modern logistics operations, the logistics process is full of uncertainty. Based on the chance function of satisfying the transportation time and cost requirements, this paper focuses on the fourth party logistics routing integrated optimization problem considering the chance preference of decision makers from the perspective of satisfaction.

Design/methodology/approach

This study used the quantitative method to investigate the relationship between route decision making and human behavior. The cumulative prospect theory is used to describe the loss, gain and utility function based on confidence levels. A mathematical model and an improved ant colony algorithm are employed to solve the problems. Numerical examples show the effectiveness of the proposed model and algorithm.

Findings

The study’s findings reveal that the dual-population improvement strategy enhances the algorithm’s global search capability and the improved algorithm can solve the risk model quickly, verifying the effectiveness of the improvement method. Moreover, the decision-maker is more sensitive to losses, and the utility obtained when considering decision-makers' risk attitudes is greater than that obtained when the decision-maker exhibits risk neutrality.

Practical implications

In an uncertain environment, the logistics decision maker’s risk preference directly affects decision making. Different parameter combinations in the proposed model could be set for decision-makers with different risk attitudes to fit their needs more accurately. This could help managers design effective transportation plans and improve service levels. In addition, the improved algorithm can solve the proposed problem quickly, stably and effectively, so as to help the decision maker to make the logistics path decision quickly according to the required confidence level.

Originality/value

Considering the uncertainty in logistics and the risk behavior of decision makers, this paper studies integrated routing problem from the perspective of opportunity preference. Based on the chance function of satisfying the transportation time and cost requirements, a fourth party logistics routing integrated optimization problem model considering the chance preference of decision makers is established. According to the characteristics of the problem, an improved dual-population ant colony algorithm is designed to solve the proposed model. Numerical examples show the effectiveness the proposed methods.

Details

Modern Supply Chain Research and Applications, vol. 6 no. 4
Type: Research Article
ISSN: 2631-3871

Keywords

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Article
Publication date: 12 November 2024

Luis Demetrio Gómez García, Gloria María Zambrano Aranda and Emerson Jesus Toledo Concha

This study examines the interrelations among educational level, financial literacy, financial inclusion and informal financial business practices of female entrepreneurs in Lima…

54

Abstract

Purpose

This study examines the interrelations among educational level, financial literacy, financial inclusion and informal financial business practices of female entrepreneurs in Lima, Peru, focusing on their intentions toward business formalization. Additionally, it explores the influence of legal formalization on both business formality and tendencies toward informality intentions.

Design/methodology/approach

The methodology involved a self-administered survey among 118 female entrepreneurs in the small vendor “Bodega” sector, with statistical analysis conducted via partial least structural equation modeling.

Findings

The study’s outcomes validated the significant role of financial literacy and inclusion as mediators between educational level and formalization intentions. Notably, legal formalization did not significantly alter these dynamics.

Research limitations/implications

Limitations arise from the study’s explanatory power and lack of predictive capability for all dependent variables, likely due to sample specificity. Additionally, the quantitative research approach does not allow for a deeper understanding of these phenomena.

Practical implications

We advocate reevaluating prevailing attitudes toward legal formality and informal practices, emphasizing tailored public policies for older female entrepreneurs and access to formal financing independent of legal registration. This underscores the need for enhanced educational levels for young women and coordinated efforts among institutional actors to more effectively promote formality.

Originality/value

This research contributes original insights into the emphasis on informal practices over mere legal registration, especially pertinent to female entrepreneurship. It also highlights the counterintuitive significant inverse relationship between age and formalization intentions, enriching the discourse on entrepreneurial motivation.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

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