Based on the case math problem analysis, the final recommendation is to increasing shipping container availability at the selected port. This option provides the highest impact for the investment, with the lowest cost per percentage point reduction in Time in Port.
However, it is important to acknowledge the risks and limitations of this recommendation. By focusing on only one issue in this port, the issues may not be resolved. Additionally, by focusing on just a single port the overall crisis in the US port system may not be effectively resolved.
To address these risks and limitations, consider the following next steps:
- Conduct a comprehensive risk analysis of the proposed solution for the selected port, identifying potential threats and their consequences.
- Assess the feasibility of implementing multiple solutions at other ports, taking into account each port's unique challenges and circumstances. This can help create a more robust and comprehensive plan to address the crisis across the entire US port system.
- Develop risk mitigation strategies for the implementation of the recommended solution and any additional solutions that may be pursued. This could include strategies such as assuming and accepting risks, transferring risks, or mitigating risks through preventive measures.
- Monitor the implementation and effectiveness of the recommended solution at the selected port, as well as any additional solutions applied to other ports. Regularly review and adjust the risk management strategy as needed to respond to changing conditions and new information.
- Engage stakeholders across the port system, including port authorities, shipping companies, labor unions, and government agencies, to ensure a collaborative approach to resolving the crisis and addressing any risks that may arise during the implementation of the chosen solutions.