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Precision railroading or precision scheduled railroading (PSR) is a concept in freight railroad operations pioneered by E. Hunter Harrison in 1993, and adopted by nearly every North American Class I railroad (except BNSF). It shifts the focus from older practices, such as unit trains, hub and spoke operations and individual car switching at hump yards, to emphasize point-to-point freight car movements on simplified routing networks. Under PSR, freight trains operate on fixed schedules, much like passenger trains, instead of being dispatched whenever a sufficient number of loaded cars are available. In the past, container trains and general merchandise trains operated separately; under PSR they are combined as needed. Inventories of freight cars and locomotives are reduced and fewer workers are employed for a given level of traffic. The result is often substantial improvement in railroad operating ratios, and other financial and operating metrics, at the cost of criticism of poorer service and long-term capacity issues.

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