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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

Maritime shipping in the Baltic Sea: challenges and opportunities for Latvian businesses

Throughout history states located on the coast of the Baltic Sea have been dependent on maritime shipping volume as its very location stipulates marine transportation being a major industry. Latvia has been famous for its marine ports since its active development phase; hence it attracted the attention of the researcher.This research is aimed at highlighting the most influential challenges can industry operators face in the course of their daily practice. The research illustrates enriched data related to the representation of legal norms required for compliance, financial calculations and applications for forecasts and hedging, taxation details in the Baltic region, and subsequent analysis. The research is believed to be of practical value for the maritime industry players and academic community interested in the Latvian maritime shipping business operations and in the Baltic region.

Author: Viktorija Čokina

Supervisor: Berdymyrat Ovezmyradov

Degree: Professional Bachelor

Year: 2024

Work Language: English

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