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1 – 10 of over 85000Syed 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 pricing and…
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.
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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.
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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 policy…
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.
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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.
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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…
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.
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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 and…
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.
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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 smoothed order…
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.
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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…
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.
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 information…
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.
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Shikha Yadav, Aman Borkar and Aditi Khanna
With the pressing need for environmental conservation, regulatory authorities are actively looking for measures to prevent global warming. In the proposed inventory model for…
Abstract
Purpose
With the pressing need for environmental conservation, regulatory authorities are actively looking for measures to prevent global warming. In the proposed inventory model for deteriorating items, demand is dependent on the selling price and green technology investment (or carbon reduction investment) for the green product (GP), as well as an investment in price-based preservation technology to slow down the pace of deterioration. Furthermore, emission reduction measures are put in place to reduce carbon emissions (CEs).
Design/methodology/approach
The current study executed a thorough literature review to determine how to improve supply chain management performance. Furthermore, assumptions are made to fill research gaps, and a mathematical model is created to address the problem mentioned above. To collect the data, the available inventory literature was reviewed. Additionally, numerical illustrations and sensitivity analyses are presented to emphasize the model's robustness.
Findings
The research indicates that it is more prudent to invest in preservation technology based on its selling price in order to control the rate of deterioration. In addition, the proposed model facilitates the management of deteriorated waste through salvage trading and emission reduction investment. The findings validate sustainable practices with a 20.86% increase in profit and a 21.4% decrease in CEs, thereby signifying environmental and economic benefits.
Originality/value
The proposed model enhances understanding of the impact of investments in price-based preservation technology and carbon reduction efforts on consumer perceptions of their intention to purchase GPs. Moreover, the study provides valuable insights by identifying important recommendations for policymakers regarding areas that require further investigation. This guideline can help identify both current and unexplored gaps, enabling researchers to direct future research efforts toward producing new products.
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