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Title Supervisor Degree
Professional Bachelor 2024
Faculty: Transport and Management Faculty
Professional Bachelor 2024
Faculty: Transport and Management Faculty

Development of Decision Support Tool for Transport Forwarding Company Operating within Netherlands and Italy

This paper investigates the development of a decision support tool for a Latvian transportation company operating in the Dutch and Italian markets. Models and algorithms for optimizing freight routes using Excel and Python are included. Digitalization of logistics processes is recognized as a key to improve efficiency and reduce costs. Two methods for solving the traveling salesman problem were examined and compared: Excel with Solver and Python with the NetworkX library.The methodology involved collecting data from Google My Maps, creating Excel spreadsheets, and developing Python software to automate route optimization. The results showed that both methods improved route planning, reducing time and cost, as well as reducing carbon footprint.The study emphasizes the importance of integrating technologies such as machine learning and big data into logistics to increase flexibility and adaptability. Recommendations were offered to further improve and implement these technologies for sustainable business development and increased competitiveness in international markets.

Author: Anastasija Škaduna

Supervisor: Berdymyrat Ovezmyradov

Degree: Professional Bachelor

Year: 2024

Work Language: English

Optimizing Product Cost in Supply Chain

Optimizing product cost through simulation modeling offers a powerful approach to enhancing cost efficiency and decision-making in product development and manufacturing. Simulation modeling allows businesses to create detailed virtual representations of their processes, enabling them to experiment with different scenarios and strategies without the risks associated with physical trials. Simulation modeling supports iterative testing and optimization, allowing for the refinement of product designs and manufacturing processes. Ultimately, this approach enhances the ability to make informed, data-driven decisions, leading to more effective cost management and improved profitability. This abstract highlights the value of simulation modeling in optimizing product cost, emphasizing its role in providing actionable insights and fostering strategic improvements.

Author: Sofiya Andryuk

Supervisor: Mihails Savrasovs

Degree: Professional Bachelor

Year: 2024

Work Language: English

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