Search results

1 – 10 of over 67000
To view the access options for this content please click here
Article
Publication date: 12 February 2018

Syed Asif Raza and Mohd. Nishat Faisal

This paper aims to develop efficient decision support tools for a firm’s environment protection by using greening effort while yet improving profitability by utilizing…

Abstract

Purpose

This paper aims to develop efficient decision support tools for a firm’s environment protection by using greening effort while yet improving profitability by utilizing pricing and inventory decisions with discount consideration.

Design/methodology/approach

This study proposed a mathematical model for price- and greening effort-dependent demand rate with discount considerations. Later, the mathematical model is extended to the situation in which the demand rate is also dependent on the stock level, in addition to the price and greening effort. Efficient solution methodologies are developed for finding the optimal solution to the proposed models.

Findings

Simple yet elegant models are proposed to mimic real-life applications. Structural properties of the models are explored to outline efficient algorithms with quantity discounts.

Research limitations/implications

The paper considers monopoly and assumes deterministic demand. Only a more commonly observed all-units discount scheme is studied.

Practical implications

The models provide decision support tools for firms in pursuit of joint profit maximization and environment consciousness goals.

Social implications

The study develops environment-friendly approaches for inventory management and improving the profitability alike.

Originality/value

This study is among the first to consider environmental protection with an investment in greening effort along with inventory management and pricing decision. The study also explored the effect of all-unit quantity discounts.

Details

Journal of Modelling in Management, vol. 13 no. 1
Type: Research Article
ISSN: 1746-5664

Keywords

To view the access options for this content please click here
Article
Publication date: 1 August 2016

Qiuxiang Li

The purpose of this paper is to explore the dynamics and stability of switched supply system considering the influence of the retailer competition and deteriorating items.

Abstract

Purpose

The purpose of this paper is to explore the dynamics and stability of switched supply system considering the influence of the retailer competition and deteriorating items.

Design/methodology/approach

A discrete dynamic switched model is developed to analyze the evolution process of the switched supply chain. The existence and the local stability of the switched supply chain are analyzed using an analytical method and a parameter plot basin.

Findings

The author finds the switched supply chain will exhibit stable, periodic, and divergent behaviors with different parameters due to the system’s switching mechanism and the switched supply chain presents complex dynamics when the stable and unstable subsystem coexist.

Originality/value

The originality and value of the research rests on this paper considering the influence of the retailers’ competition and deteriorating items on the supply chain dynamics under stock-dependent demand. The obtained results provide the decision maker with some guidelines on how to make stable designs for the switched supply chain design according to the parameter values.

Details

Kybernetes, vol. 45 no. 7
Type: Research Article
ISSN: 0368-492X

Keywords

To view the access options for this content please click here
Article
Publication date: 15 March 2018

Vaibhav Chaudhary, Rakhee Kulshrestha and Srikanta Routroy

The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment…

Abstract

Purpose

The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps.

Design/methodology/approach

In total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested.

Findings

There are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market.

Research limitations/implications

Only peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling.

Practical implications

Stress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory.

Originality/value

The current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

Details

Journal of Advances in Management Research, vol. 15 no. 3
Type: Research Article
ISSN: 0972-7981

Keywords

To view the access options for this content please click here
Article
Publication date: 16 November 2015

Syed Asif Raza

The purpose of this paper is to study the impact of differentiation price which has been utilized to segment demand, but results in imperfect segmentation. The use of a…

Abstract

Purpose

The purpose of this paper is to study the impact of differentiation price which has been utilized to segment demand, but results in imperfect segmentation. The use of a differentiation price is among the most widely used Revenue Management (RM) techniques to segment a firm’s demand to augment profitability.

Design/methodology/approach

Mathematical models are developed for a firm’s RM which use a differentiation price to categorize its market demand into two segments. Three distinct demand situations are considered: price-dependent deterministic demand, price-dependent stochastic demand whose distribution is known and price-dependent stochastic demand whose distribution is unknown. Models are analyzed to determine optimal joint control of a firm’s pricing and inventory decisions for each market segment.

Findings

The analysis of the firm’s RM model has shown that revenue is jointly concave in pricing and order quantity. In most demand situations, closed-form mathematical expressions for optimal pricing and inventory are obtained.

Research limitations/implications

In RM models developed in this paper, a firm only selects a differentiation price. Thus, an optimal selection of the differentiation price along with the pricing and inventory decisions may lead to an additional profitability which has not been explored in this research.

Practical implications

The findings reported are relevant to RM managers and practitioners and help them to calibrate their optimal revenues by segmenting markets using a differentiation price.

Social implications

This paper provides a quantitative perspective of a firm’s decision on the use of the differentiation price and the market response.

Originality/value

The paper provides a firm’s optimal decision on pricing and inventory when it experiences demand leakage due to categorizing its market demand into two segments using a differentiation price.

Details

Journal of Modelling in Management, vol. 10 no. 3
Type: Research Article
ISSN: 1746-5664

Keywords

To view the access options for this content please click here
Article
Publication date: 7 September 2015

Jon R.G.M Lekander

The purpose of this paper is to explore how tenant end demand dependence and investment market segmentation, as estimated through sector type, impacts real estate…

Abstract

Purpose

The purpose of this paper is to explore how tenant end demand dependence and investment market segmentation, as estimated through sector type, impacts real estate portfolio strategy in the context of the multi-asset portfolio.

Design/methodology/approach

The analysis is performed for six investor domeciles, for domestic and international investments over several cycles. The analysis is performed in a mean variance framework.

Findings

The findings are consistent with the hypothesis that an investor benefits from investing in real estate assets where end demand is dependent on local factors rather than global factors.

Practical implications

The efficiency of the overall multi-asset portfolio benefits from a deeper understanding of how the real estate portfolio is constructed. Locally dependent real estate, i.e. real estate that is dependent on local economic factors, tends to better support the overall portfolio than do real estate that is dependent upon global factors.

Originality/value

The paper contributes to the broader knowledge through extending earlier studies using similar methodology by extending the data series to cover the impact of the latest global financial crises, as well through extending the knowledge how the real estate portfolio should be constructed to better support the overall objectives of the multi-asset portfolio.

Details

Journal of Property Investment & Finance, vol. 33 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

To view the access options for this content please click here
Article
Publication date: 7 August 2018

Samuel Ampaw, Edward Nketiah-Amponsah and Nkechi Srodah Owoo

Against the background that Ghanaians seldom purchase insurance policies, the purpose of this paper is to investigate the determinants of life insurance uptake among male…

Abstract

Purpose

Against the background that Ghanaians seldom purchase insurance policies, the purpose of this paper is to investigate the determinants of life insurance uptake among male and female household heads in Ghana.

Design/methodology/approach

The study employs data on 775 male and 233 female household heads from the sixth round of the Ghana Living Standards Survey. Adjusted Wald test statistics and logistic regressions are employed for the empirical estimations.

Findings

Results from the adjusted Wald test show that the sampled male household heads significantly differ from their female counterparts in terms of the selected socioeconomic and demographic characteristics. Though ill health status, higher wealth, being self-employed or in wage or salaried employment and residing in either of the three northern regions (upper east, upper west and northern regions) in Ghana broadly affect the demand for life insurance among both male and female heads, other factors are peculiar to either parties. Particularly, whereas female heads who are married and those with more dependants have a higher propensity of purchasing life insurance policies, their male counterparts with higher education are more likely to buy life insurance policies.

Research limitations/implications

The paper adds to the paucity of cross-sectional studies on life insurance demand in Africa.

Practical implications

Based on the explored determinants, insurers could better regulate the purchase of their products by taking into consideration the gender differences to maximize their sales and enhance economic growth and development.

Originality/value

This paper explores the gender dynamics in the determinants of life insurance demand in a developing country, Ghana. Besides, findings from related literature are reported to be mixed. Though the current paper is not wholly nationally representative, it utilizes data from across all the ten administrative regions of Ghana. To the best of the authors’ knowledge, no prior study has been conducted in this manner.

Details

International Journal of Social Economics, vol. 45 no. 12
Type: Research Article
ISSN: 0306-8293

Keywords

To view the access options for this content please click here
Article
Publication date: 1 January 2004

S.T. Enns and Pattita Suwanruji

Mechanisms to adjust planned lead times based on current work loads are desirable for time‐phased planning systems. This paper investigates the use of exponentially…

Abstract

Mechanisms to adjust planned lead times based on current work loads are desirable for time‐phased planning systems. This paper investigates the use of exponentially smoothed order flow time feedback in setting planned lead times dynamically. The system studied is a supply chain with capacity‐constrained processing stations and transit times between stations. Lot sizes are based on the minimization of flow times using queuing approximations. Both seasonal and level demand patterns with uncertainty are considered. Since both dependent and independent demands are assumed at each station, customer delivery performance depends on the distribution of inventory along the supply chain. Results show that dynamic planned lead time setting can be used effectively to control delivery performance along the supply chain. Performance is also influenced significantly by appropriate lot size selection.

Details

Journal of Manufacturing Technology Management, vol. 15 no. 1
Type: Research Article
ISSN: 1741-038X

Keywords

To view the access options for this content please click here
Article
Publication date: 1 February 1988

Overview All organisations are, in one sense or another, involved in operations; an activity implying transformation or transfer. The major portion of the body of…

Abstract

Overview All organisations are, in one sense or another, involved in operations; an activity implying transformation or transfer. The major portion of the body of knowledge concerning operations relates to production in manufacturing industry but, increasingly, similar problems are to be found confronting managers in service industry. It is only in the last decade or so that new technology, involving, in particular, the computer, has encouraged an integrated view to be taken of the total business. This has led to greater recognition being given to the strategic potential of the operations function. In order to provide greater insight into operations a number of classifications have been proposed. One of these, which places operations into categories termed factory, job shop, mass service and professional service, is examined. The elements of operations management are introduced under the headings of product, plant, process, procedures and people.

Details

Management Decision, vol. 26 no. 2
Type: Research Article
ISSN: 0025-1747

To view the access options for this content please click here
Article
Publication date: 1 December 2000

Marilyn M. Helms, Lawrence P. Ettkin and Sharon Chapman

Supply chain management is built on the principles of partnerships and the development and use of the connections that exist between the links of the chain to provide…

Abstract

Supply chain management is built on the principles of partnerships and the development and use of the connections that exist between the links of the chain to provide information that will increase the efficiency of all members in the chain. Success stories abound describing lower costs, shorter lead times and increased customer service. Collaborative forecasting applies supply chain management concepts to the forecasting function and uses available information and technology to force a shift from independent, forecasted demand to dependent, known demand. Eventually, the future of forecasting may evolve to the point where forecasting is not even necessary. Demand information will be supplied completely by supply chain partners and the need to predict demand will be eliminated.

Details

Business Process Management Journal, vol. 6 no. 5
Type: Research Article
ISSN: 1463-7154

Keywords

To view the access options for this content please click here
Article
Publication date: 20 June 2008

Zhong Yao, Stephen C.H. Leung and K.K. Lai

The purpose of this paper is to numerically analyze the coordinating mechanism of the revenue‐sharing contract in newsvendor products' supply chain. The contract considers…

Abstract

Purpose

The purpose of this paper is to numerically analyze the coordinating mechanism of the revenue‐sharing contract in newsvendor products' supply chain. The contract considers stochastic and price‐dependent demand.

Design/methodology/approach

The paper presents an analytical model for supply chain contracts and then uses numerical methods with the Stackelberg game to identify the contracts' properties.

Findings

Comparing the revenue‐sharing contract with the price‐only contract, the paper finds that a revenue‐sharing contract does improve supply chain performance. However, the benefits earned by the revenue‐sharing contract differ among the supply chain partners under the impact of demand variability and price‐sensitivity factors. Specifically, the manufacturer will earn a greater share in channel profit in the revenue‐sharing contract than in case of a price‐only contract. Also, the incentive by revenue‐sharing contract could not lead to Pareto improvement. In other words, the retailer's profit in revenue‐sharing contract might be lower than that in price‐only contract.

Research limitations/implications

Management should note that there are additional administrative costs needed to monitor the revenue‐sharing contract. Incorporating these costs into models will yield more insight into the problems. Also, the retailer has more accurate market information due to the proximity to the customers that will lead to a different game mode.

Practical implications

Management such as airlines, hotel, video rental, etc. can adopt this kind of contracts to manage their retailers to obtain the higher channel performance. But they should be careful selecting the revenue sharing proportion. The research limitations also give some suggestion for practical reference.

Originality/value

Many studies have shown that the revenue‐sharing contract can obtain a higher channel performance. However, little attention has been noted that the fraction of shared revenue has a significant impact on the channel performance. To apply this form of incentive in practice, managements should consider the impact of the fraction of shared revenue in the revenue‐sharing contract on supply chain performance. This paper considers these issues.

Details

Supply Chain Management: An International Journal, vol. 13 no. 4
Type: Research Article
ISSN: 1359-8546

Keywords

1 – 10 of over 67000