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The importance of plant location decision-making in the petrochemical industry  

Jung, Yoon-Jung (BP 코리아)
Woo, Su-Han (중앙대학교 경영경제대학 국제물류학과)
Park, Keun-Sik (중앙대학교 경영경제대학 국제물류학과)
Publication Information
Journal of Korea Port Economic Association / v.31, no.1, 2015 , pp. 127-145 More about this Journal
Abstract
Plant location selection is a decision which requires huge investment and entails a significant impact in a longer-term. The petrochemical industry, in particular, is so capital- and technology-intensive that the firms in the industry pursue enhancing competitiveness through collaboration and integration among entities in their supply chains. Even though the logistics factor such as logistics costs and connectivity have, as a result, gained its importance in plant location decision making, this has rarely studies in empirical studies. Therefore, this study aims to examine the relative importance of the logistics factor in plant location decision making in the petrochemical industry using the multi-criteria decision-making approach. In addition the three representative petrochemical industrial complexes are evaluated by the factors used in this study. This study is able to provide the useful implication in both practical and policy-making aspects. Firms are required to consider the logistics factors with priority compared to other factors in plant location decision making. In addition, when federal or local governments build industrial sites and attract the petrochemical firm, logistics infrastructure should also be considered to provide better transportation connectivity and lower logistics costs in turn.
Keywords
Location Selection; Logistics; AHP method;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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