Optimal production schedule in commercial shrimp culture

Abstract

Using an extended version of the optimal scheduling model developed by [Yu, R., Leung, P.S., 2005. Optimal harvesting strategies for a multi-cycle and multi-pond shrimp operation: a practical network model. Math. Comput. Simulation. 68, 339-354.], this study attempts to demonstrate the impact on the optimal production schedule and its resulting economic performance of shrimp farming from variability in survival rate, growth rate, price seasonality and labor force constraints. The influence of these factors is described quantitatively within the context of a commercial shrimp farm operating in Hawaii. The managerial objective being expressed is to project a scheduling scenario that maximizes the net revenue from a 40 pond farm during a two year planning horizon, subject to a set of biological and economic conditions. These inherently practical results indicate that these factors can be managed to substantially improve the profitability of such a shrimp farm. It is apparent that continued development and application of this capability can have profound implications to the profitability of many multi-pond, multi-cycle farming operations.