BACKGROUND
Eastern Redcedar is an invasive tree that is economically and ecologically damaging to the state of Oklahoma. For this raw material, and others like it, there is limited entrepreneurial interest for the utilization of this natural resource. This is often due to the lack of data regarding the true cost of the processes required for successful utilization. Thus, it would prove beneficial if there was a way to determine which industries could be implemented to derive maximum economic profit from these materials. By providing a platform to evaluate the worth of these untapped resources, we can more effectively evaluate and utilize them to their full potential.
SUMMARY OF TECHNOLOGY
OSU researchers have developed a web-based modeling system (GLADIS) that works to evaluate the entirety of an agricultural supply chain. GLADIS includes heuristic determination of the optimal facility location, cost evaluation of transportation, harvesting, storage, and refining costs. This comprehensive method also includes Monte Carlo simulation and one-way sensitivity analysis.
POTENTIAL AREAS OF APPLICATION
MAIN ADVANTAGES
STATE OF DEVELOPMENT
Prototype developed.