Assignment
Part 1: Transportation & The Economy
Exercise Questions
1. There is much discussion on the local, state, and federal levels about the need to repair and improve the Interstate Highway System. Provide a rationale for this need.
2. "Transportation is the most important economic factor for economic development." Do you agree or disagree with this statement? Why or why not?
3. The opening of the Erie Canal and the building of the transcontinental railroads in the 19th century was described as significant milestones for the economic development in the United States. Explain their importance individually and collectively.
4. The highways and other transportation networks that serve major metropolitan areas are frequently described as the lifelines of the metropolitan area. Do you agree with this statement? Why or why not?
5. Compare and contrast time and place utility and explain how they contribute to the value of products. What is the importance of time and place utility in our global economy?
6. Adam Smith stated that specialization of labor was limited by the extent of the market and that transportation helps to expand the market. Explain the meaning and importance of this statement.
7. Economists often point to the impact of improved transportation on land values and related economic development. What is the nature and significance of the transportation impact?
8. While improved transportation systems provide economic benefits, there may be some associated costs. What are the major environmental costs associated with transportation and what are their potential negative impacts?
9. "Improved transportation systems can also have social and political significance." Why are these important considerations for evaluating existing and/or proposed additions to the transportation system?
10. The service characteristics of freight movements are considered by some shippers to be as important as or more important than the freight rate. Discuss the various service characteristics for freight demand. Do you agree with the statement that they may be as important as or even more important than the freight rate? Why or why not?
Part 2: Transportation Technology and Systems
Exercise Questions
1. Explain how a TMS enables delivery process planning, execution, and control.
2. What are some of the most valuable TMS functionalities? How do they contribute to both cost reduction and service improvement?
3. How can a company facilitate a smooth and timely implementation of a TMS?
4. What options are available for procuring transportation software? Why would a company pursue each option?
5. How is new equipment technology contributing to transportation sustainability initiatives?
6. How can technology promote transportation safety?
7. Discuss how transportation professionals are deploying technology in their quest to minimize freight theft.
8. Why are technology and transportation equipment companies investing so much time, money, and effort into autonomous transportation research?
9. Why should transportation professionals pay attention to the emerging area of blockchain?
10. What capabilities and benefits will result from the development of next generation TMS tools?
Part 3: Costing & Pricing for Transportation
Exercise Questions
1. Compare and contrast pure competition with monopoly from a pricing perspective. If you were a shipper, which would you prefer? Which would a carrier prefer?
2. Describe an oligopolistic market structure. What alternatives to price competition exist in such markets? Why would these alternatives be important to shippers?
3. What is value-of-service pricing? Is this approach to pricing valid today?
4. What is the cost-of-service pricing? What is the relationship between value-of-service pricing and cost-of-service pricing?
5. What is a released value rate and how does its use affect a shipper's transportation costs?
6. What are the major forces that affect carrier pricing strategies?
7. How might pricing strategies differ among carriers in competitive markets, oligopolistic markets, and monopolistic markets?
8. What are the various factors used in classifying commodities for tariff purposes?
9. What are the differences among class, exception, and commodity rates?
10. Why were tariffs created? Are they still useful in today's transportation environment?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.