Version 1
: Received: 14 December 2023 / Approved: 15 December 2023 / Online: 15 December 2023 (05:25:50 CET)
Version 2
: Received: 17 December 2023 / Approved: 18 December 2023 / Online: 18 December 2023 (14:29:50 CET)
How to cite:
JOHNSON, N.; Anyanwu, .. J. Revolutionizing Small-Scale LNG Business: Optimal Strategies for an Adaptive and Sustainable Supply Chain. Preprints2023, 2023121145. https://doi.org/10.20944/preprints202312.1145.v2
JOHNSON, N.; Anyanwu, .. J. Revolutionizing Small-Scale LNG Business: Optimal Strategies for an Adaptive and Sustainable Supply Chain . Preprints 2023, 2023121145. https://doi.org/10.20944/preprints202312.1145.v2
JOHNSON, N.; Anyanwu, .. J. Revolutionizing Small-Scale LNG Business: Optimal Strategies for an Adaptive and Sustainable Supply Chain. Preprints2023, 2023121145. https://doi.org/10.20944/preprints202312.1145.v2
APA Style
JOHNSON, N., & Anyanwu, .. J. (2023). <strong></strong>Revolutionizing Small-Scale LNG Business: Optimal Strategies for an Adaptive and Sustainable Supply Chain<strong> </strong>. Preprints. https://doi.org/10.20944/preprints202312.1145.v2
Chicago/Turabian Style
JOHNSON, N. and .Chukwuemeka Joel Anyanwu. 2023 "<strong></strong>Revolutionizing Small-Scale LNG Business: Optimal Strategies for an Adaptive and Sustainable Supply Chain<strong> </strong>" Preprints. https://doi.org/10.20944/preprints202312.1145.v2
Abstract
Transforming Small-Scale LNG Business, Enhancing Efficiency and Resilience in an Evolving Supply Chain In various industries, innovative systems have proven their value due to their efficiency and adaptability. A prime example of this lies in the rapid growth of the liquefied natural gas (LNG) market. LNG, a fuel derived from natural gas, has gained significant traction in recent years. In light of this, we aim to explore optimal strategies for small-scale LNG businesses, with a focus on revolutionizing their supply chain to ensure adaptability and sustainability. Our objective is to enhance efficiency and sturdiness in this evolving sector. By devising innovative methods and implementing cutting-edge technologies, we aim to revolutionize the small-scale LNG market, paving the way for a more optimized and resilient supply chain. Through this transformation, we strive to create a sustainable and adaptable framework that will drive the growth and success of a small-scale LNG businesses.LNG' ability to be transported and stored more cost-effectively in its reduced volume compared to natural gas in its original state is a significant advantage. The distribution network for LNG starts at numerous supply terminals and extends to a diverse range of consumption centers, each with varying tank capacities. In the broader economic context, the establishment of efficient routes for LNG Truck tank plays a critical role.To tackle the challenge of selecting a pickup location and determining optimal destinations with specific unloading volumes for liquefied natural gas (LNG), this research presents an innovative solution utilizing state-of-the-art machine learning techniques. The proposed approach combines the power of reinforcement learning, recurrent neural networks, online learning, and graph theory. By leveraging these cutting-edge techniques, we aim to develop an intelligent system that can effectively determine the most efficient pickup location and sequence of destinations for LNG delivery. This system will take into account various factors such as transportation costs tank capacity, and demand fluctuations. Through the integration of reinforcement learning, the system will continuously learn and improve its decision-making process in real-time. The recurrent neural networks will allow for the analysis of historical aim to model and optimize the complex network of pickup and delivery routes, considering factors such as distance, capacity constraints, and operational efficiencies. With this innovative approach, we strive to revolutionize the selection and planning process for LNG pickup and delivery, ultimately enhancing efficiency and reducing cost within the LNG supply chain.Improving the distribution network offers several financial benefits, including cost reduction, faster delivery times, more affordable distribution, and enhanced efficiency in the utilization of tanker trucks for LNG transportation. By optimizing the distribution network, transit costs associated with LNG transportation can be significantly lowered. This can be achieved through intelligent route planning, taking into account factors such as distance, traffic conditions, and fuel consumption. Minimizing transit costs contributes to overall savings for businesses operating in the LNG market. Faster delivery times are another advantage of an enhanced distribution network. By designing efficient routes and eliminating unnecessary detours or delays, the time taken for LNG to reach its intended destinations can be reduced. This not only improves customer satisfaction but also allows for more frequent deliveries and better coordination of supply and demand. Cheaper distribution is a direct outcome of an optimized distribution network. By strategically planning pickup locations, destinations, and intermediate stops, the costs associated with transferring LNG between terminals and consumption centres can be minimized. This leads to savings in transportation expenses, ultimately benefiting both businesses and end-users. Efficient utilization of tanker trucks is crucial for maximizing profitability in the LNG industry. An improved distribution network enables better allocation of resources, ensuring that tanker trucks are utilized optimally. This includes reducing empty or underutilized trips, maximizing load capacities, and minimizing idle time. Such efficiency improvements translate to cost savings and increased revenue for businesses involved in LNG transportation. Overall, the financial gains from improving the distribution network are substantial. Lower transit costs, faster delivery times, cheaper distribution, and more efficient use of tanker trucks contribute to increased profitability, competitiveness, and sustainability in the LNG market.
Keywords
liquified natural gas; distribution system; artificial intelligence; reinforcement learning; economic development
Subject
Engineering, Energy and Fuel Technology
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Received:
18 December 2023
Commenter:
Johnson Global Scientific library.
Commenter's Conflict of Interests:
Author
Comment:
GENERAL BACKGROUND OF THE RESEARCHOne unique aspect of revolutionizing the small-scale LNG business is the emphasis on an adaptive and sustainable supply chain. This research article explores innovative strategies that can be implemented to optimize the entire process, from production to distribution, in a way that is both environmentally friendly and economically viable. The wonders of this approach lie in its potential to transform small-scale LNG operations into highly efficient and flexible systems. By adopting adaptive strategies, businesses can quickly adjust to market demands and changes in supply or demand, ensuring a continuous and reliable supply of LNG to end users. Additionally, the focus on sustainability brings a range of benefits. By implementing eco-friendly practices, such as using cleaner fuels and reducing emissions, small-scale LNG businesses can contribute to a greener energy transition. This not only helps combat climate change but also enhances the industry's reputation and attracts environmentally conscious customers. Moreover, this research article explores how the optimization of the supply chain can lead to cost savings and improved profitability for small-scale LNG businesses. By identifying bottlenecks and inefficiencies, implementing advanced technologies, and employing smart logistics, companies can streamline their operations and reduce operational costs, ultimately making LNG more affordable and accessible. Overall, the wonders of revolutionizing the small-scale LNG business lie in its potential to create a sustainable, adaptive, and profitable industry that meets the energy needs of various sectors while minimizing environmental impact.
Commenter: Johnson Global Scientific library.
Commenter's Conflict of Interests: Author