Author(s)

Md. Ashraful Babu¹, Jahira Tabassum², Md. Nazmul Hassan^3*

¹Department of Mathematics, BCS-General Education, Dhaka, Bangladesh.
²Department of Mathematics, International University of Business Agriculture and Technology (IUBAT University), Dhaka, Bangladesh.
³Department of Civil & Environmental Engineering, Uttara University, Dhaka, Bangladesh.

Transport risk management is one of the predominant issues to any industry for supplying their goods safely and in time to their beneficiaries. Damaging goods or delaying the shipping both make penalty to the company and also reduce the goodwill of the company. Every way of transportation routes has to be comfy which can make sure the supplies will attain without damaging goods and in time and additionally cost efficiently. In this paper, we find a few not unusual risks which might be concerned about all types of way of routes which include Highway, Waterway, Airway, Railway and so forth. Additionally, we proposed a technique to attain multiple optimal solutions by using Modified Distribution Method (MODI) of a transportation problem. Finally, we reduce the risks by minimizing the possible number of transportation routes using multi-optimality technique of the transportation problem.

Transportation Problem, Multi-Optimality, Modified Distribution Method (MODI), Risk Factors, Transport Risk Management

Babu, M. , Tabassum, J. and Hassan, M. (2016) A Heuristic on Risk Management System in Goods Transportation Model Using Multi-Optimality by MODI Method. Open Journal of Applied Sciences, 6, 539-551. doi: 10.4236/ojapps.2016.68054.