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This paper aims to examine the impact of the Greek economic crisis on the sustainability of the Turkish economy.

A generalized autoregressive conditional heteroskedasticity (GARCH) model is used over the Thomson Reuter’s Turkey Index for the period of May 1999 to August 2018 using monthly data. The control variables introduced in the proposed model are the S&P 500 of the US stock market and crude oil prices which are used to isolate more general systemic factors.

The structural analysis of volatility with the EGARCH model has shown that current volatility is more influenced by past volatility than by previous month shocks.

The results can be exploited by investors, portfolio managers and policy makers in their decision-making process.

It is a first-time effort that examines the impact of the Greek economic crisis on the sustainability of the Turkish economy. The developed methodology can be used by investors, portfolio managers and policy makers in their decision-making process.

The improvement of routing operations performance has been of great concern for organisations. This has led to the development of alternative lean-based methods, however the literature research on the applications of lean thinking in the transportation sector is still considered rather limited. The purpose of this paper is to present a lean thinking and simulation-based approach to improve the efficiency of warehousing and routing operations.

The paper reviews the existing literature in the area of lean transportation and then presents and applies a novel approach to improve the vehicle routing operations of a Mexican firm. The proposed approach suggests the classification of wastes into those relevant to transport operations, their identification through a transportation value stream mapping study, and the use of the transportation overall vehicle effectiveness (TOVE) index for the measure of the overall performance of the transport operations.

The results obtained from the case study indicate that the proposed approach is an effective alternative for the improvement of vehicle routing operations as the number of routes decreased from 30 to 22 and the distance travelled by 32 per cent. Similarly, the average number of clients served by each route increased by 23 per cent as well as the TOVE index increased from 6.9 to 19.3 per cent. The TOVE component measures of vehicle performance and operating availability efficiencies also increased significantly while quality issues, in the form of number of customers not served per route, were reduced from six to zero.

The improvement of routing operations performance has been traditionally addressed through operations research and mathematical modelling approaches. This paper presents an alternative and novel lean thinking and simulation-based approach to improve the efficiency of routing operations.