Search results
1 – 4 of 4Aqeel Ahmed, Sanjay Mathrani and Nihal Jayamaha
The aim of this paper is to explore the implementation of an integrated lean and ISO 14001 approach in meat industry for environmental performance and examine a proposed…
Abstract
Purpose
The aim of this paper is to explore the implementation of an integrated lean and ISO 14001 approach in meat industry for environmental performance and examine a proposed conceptual framework by capturing insights from lean and ISO 14001 experts in New Zealand (NZ).
Design/methodology/approach
Semi-structured interviews have been conducted with a group of consultants (lean and ISO 14001) to evaluate the suitability of an integrated lean and ISO 14001 approach in the meat industry for environmental performance. A conceptual framework from literature has guided this study leading to its further development based on the empirical evidence collected.
Findings
Findings have illustrated a synergistic positive impact of lean and ISO 14001 implementation as an integrated approach for sustaining environmental performance in the meat industry. A joint implementation program provides more clarity in aligning ISO 14001 operational procedures with lean tools and techniques for an enhanced environmental performance outcome.
Practical implications
The application of an integrated lean and ISO 14001 framework is proposed in this paper, which can help industry practitioners and academia in developing a joint implementation strategy and conducting future research.
Originality/value
To the best of the author’s knowledge, this study is the first to assess the effective implementation of lean and ISO 14001 as an integrated approach in the NZ meat industry.
Details
Keywords
Rouhollah Khakpour, Ahmad Ebrahimi and Seyed-Mohammad Seyed-Hosseini
This paper recommends a method entitled “SMED 4.0” as a development of conventional single minute exchange of die (SMED) to avoid defect occurrence during production and improve…
Abstract
Purpose
This paper recommends a method entitled “SMED 4.0” as a development of conventional single minute exchange of die (SMED) to avoid defect occurrence during production and improve sustainability, besides reducing setup time.
Design/methodology/approach
The method builds upon an extensive literature review and in-depth explorative research in SMED and zero defect manufacturing (ZDM). SMED 4.0 incorporates an evolutionary stage that employs predict-prevent strategies using Industry 4.0 technologies including the Internet of Things (IoT) and machine learning (ML) algorithms.
Findings
It presents the applicability of the proposed approach in (1) identifying the triple bottom line (TBL) criteria, which are affected by defects; (2) predicting the time of defect occurrence if any; (3) preventing defective products by performing online setting on machines during production as needed; (4) maintaining the desired quality of the product during the production and (5) improving TBL sustainability in manufacturing processes.
Originality/value
The extended view of SMED 4.0 in this research, as well as its analytical approach, helps practitioners develop their SMED approaches in a more holistic way. The practical application of SMED 4.0 is illustrated by implementing it in a real-life manufacturing case.
Details
Keywords
Kala Nisha Gopinathan, Punniyamoorthy Murugesan and Joshua Jebaraj Jeyaraj
This study aims to provide the best estimate of a stock's next day's closing price for a given day with the help of the hidden Markov model–Gaussian mixture model (HMM-GMM). The…
Abstract
Purpose
This study aims to provide the best estimate of a stock's next day's closing price for a given day with the help of the hidden Markov model–Gaussian mixture model (HMM-GMM). The results were compared with Hassan and Nath’s (2005) study using HMM and artificial neural network (ANN).
Design/methodology/approach
The study adopted an initialization approach wherein the hidden states of the HMM are modelled as GMM using two different approaches. Training of the HMM-GMM model is carried out using two methods. The prediction was performed by taking the closest closing price (having a log-likelihood within the tolerance range) to that of the present one as the closing price for the next day. Mean absolute percentage error (MAPE) has been used to compare the proposed GMM-HMM model against the models of the research study (Hassan and Nath, 2005).
Findings
Comparing this study with Hassan and Nath (2005) reveals that the proposed model outperformed in 66 out of the 72 different test cases. The results affirm that the model can be used for more accurate time series prediction. Further, compared with the results of the ANN model from Hassan's study, the proposed HMM model outperformed 24 of the 36 test cases.
Originality/value
The study introduced a novel initialization and two training/prediction approaches for the HMM-GMM model. It is to be noted that the study has introduced a GMM-HMM-based closing price estimator for stock price prediction. The proposed method of forecasting the stock prices using GMM-HMM is explainable and has a solid statistical foundation.
Details
Keywords
Samuel Jebaraj Benjamin, Pallab Kumar Biswas, Nirosha Hewa Wellalage and Yimei Man
This paper aims to examine the association between environmental disclosure and waste performance.
Abstract
Purpose
This paper aims to examine the association between environmental disclosure and waste performance.
Design/methodology/approach
This study is based on a sample of S&P 500 firms over a nine-year period from 2010 to 2018. The pooled ordinary least squares (OLS), logistic, propensity score matching (PSM) and instrumental variable-generalized method of moments regressions analyses have been used to examine the data.
Findings
The findings show a significant positive relationship between waste performance and environmental disclosure, suggesting that firms with superior waste performance tend to disclose more environmental information. Further, the authors distinguish between “hard” and “soft” environmental disclosures and find that the effect of waste performance is consistently positive and significant for each type. The observed positive and significant association of waste performance with environmental disclosure remains unchanged, regardless of the industry affiliation of firms, although firms from industries that are less environmentally sensitive provide a slightly higher level of environmental disclosure. The authors also explore possible channels that may explain the association between waste performance and environmental disclosure and find that litigation risk and cash holdings positively moderate the association. The finding remains robust to a number of alternative estimation approaches.
Originality/value
Overall, the authors present important evidence that waste performance is an important indicator of environmental disclosure. The findings are useful for corporations and stakeholders and have important implications around the globe as the authors continue to grapple with the ongoing issue of waste.
Details