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Article
Publication date: 1 January 1993

Tony Mulhall

Examines the failure of the City of London office market over thelast 30 years to transmit information on impending oversupply todevelopers as the market moved towards the…

Abstract

Examines the failure of the City of London office market over the last 30 years to transmit information on impending oversupply to developers as the market moved towards the top of the demand cycle. Notes that the resulting collapse in investment values and the exposure of the banking system to large‐scale non‐performing loans provides a picture of potentially destabilising market failure. Proposes that in order to prevent oversupply occurring and thereby secure investment values, a form of self‐regulation is required.

Details

Journal of Property Valuation and Investment, vol. 11 no. 1
Type: Research Article
ISSN: 0960-2712

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Article
Publication date: 14 August 2019

Chi-Kuang Chen, Fernando Palma and Lidia Reyes

This paper aims to present a lean management approach to reduce waste generated by overproduction within a global supply chain setting. Statistics register a considerable…

Abstract

Purpose

This paper aims to present a lean management approach to reduce waste generated by overproduction within a global supply chain setting. Statistics register a considerable increase in inventories which has increased waste because of the overproduction/oversupply throughout the global supply chain, and there has been insufficient research targeting on it.

Design/methodology/approach

This study develops a conceptual approach based on the practices of Toyota Production System (TPS). The analysis is performed on four segments of a business: “R&D”, “Production”, “Logistics” and “Service/retailers”. The proposed approach adopts the pull-based lean management system by two modules, “Intra-lean management” and “Inter-lean management”.

Findings

A case study is conducted to demonstrate how the proposed approach can be used in a real situation. The ideas and benefits of the proposed approach are also discussed.

Practical implications

The proposed solution can be applied in manufacturing and service industries, as well as in industries where production and R&D are interconnected.

Originality/value

The paper provides a conceptual approach that explains how intra- and inter-lean management can be effectively integrated to achieve a smooth flow in the business. This paper innovates in developing a pull-based driven flow relationship among the four segments of a business, as a response to the lack of integration among them and the increase of inventory in the hands of businesses.

Details

International Journal of Quality and Service Sciences, vol. 11 no. 4
Type: Research Article
ISSN: 1756-669X

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Executive summary
Publication date: 21 April 2020

INTERNATIONAL: Oil oversupply and low prices will stay

Details

DOI: 10.1108/OXAN-ES252105

ISSN: 2633-304X

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Geographic
Topical
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Expert briefing
Publication date: 28 August 2015

The market remains oversupplied, with daily rates for Capesize vessels (the largest dry-cargo ships) falling by 97% since 2008, from over 200,000 dollars to around 11,000…

Details

DOI: 10.1108/OXAN-DB203002

ISSN: 2633-304X

Keywords

Geographic
Topical
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Expert briefing
Publication date: 22 April 2016

The world's three major shipbuilding countries -- China, South Korea and Japan -- face difficult market conditions due to oversupply in the shipping sector. Although all…

Details

DOI: 10.1108/OXAN-DB210705

ISSN: 2633-304X

Keywords

Geographic
Topical
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Article
Publication date: 3 April 2018

Moshe Szweizer

The purpose of this paper is to extend the studies of commercial property cycles by providing a cross-field approach to property markets modelling.

Abstract

Purpose

The purpose of this paper is to extend the studies of commercial property cycles by providing a cross-field approach to property markets modelling.

Design/methodology/approach

The approach allows for the incorporation of market shocks into the property cycle model as fundamental building blocks; assessment of overall market absorption generated through cyclic activity; and timing estimation of major market events. An ideal model is first constructed, which relies on an observation that a property cycle consists of four distinctive phases. These are described formally through appropriate formulae. Subsequently, it is observed that an analogous cyclic behaviour is described in physics as the Otto cycle. The formulae derived in physics for the Otto cycle are now redefined so to be applicable to the property market.

Findings

The model has been applied to the London office market, both to the historic and the current data sets. This allowed for the comparison of model predicted absorption and vacancies with the historic records, providing for assessment of the model accuracy. The model predicted that absorption was also compared with historic space supply allowing for estimation of oversupply and resultant vacancies. London office submarkets were analysed and compared to each other, allowing for estimation of their relative attractiveness as perceived by tenants and developers.

Practical implications

The model may be used to estimate cycle generated absorption; therefore, over and under supply of space due to developers’ activity may be assessed. It is also possible to use the model to assess the timing of future market peaks and troughs.

Originality/value

This is the first research directly applying the methodology developed in physics to commercial property cycles.

Details

Journal of Property Investment & Finance, vol. 36 no. 3
Type: Research Article
ISSN: 1463-578X

Keywords

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Expert briefing
Publication date: 13 May 2016

Developments in the global iron ore market

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Article
Publication date: 12 June 2019

Moshe Szweizer

The purpose of this paper is to expand our understanding of processes governing commercial property cycles, and to provide tools, which enable identification of property…

Abstract

Purpose

The purpose of this paper is to expand our understanding of processes governing commercial property cycles, and to provide tools, which enable identification of property cycles’ turning points’ location.

Design/methodology/approach

This paper is divided into three parts. The first looks at the demand-supply dynamics and the location of two characteristic cyclic points, the market bottom and the cycle commencement. In the second part a property relevant formula for entropy is derived, and its relation to the cycle overheated stage and the market peak is studied. In the third part, we discuss still another characteristic point of the cycle, which relates to the stage when developers elect to undertake new projects. This analysis is done by employing the chaos theory, and its relation to the cyclic evolution.

Findings

It is found that some markets cycle, while others fluctuate only. A clear method for distinguishing among these is provided. The bottom of a cycle may overlap or be time separated from the start of a subsequent cycle. Market peaks are characterised by a sharp decrease in financial component to entropy for top quality building grades. A cycling market is characterised by crossing of a distinct vacancy rate during the cycle progression.

Practical implications

The tools developed in the paper allow for clear characterisation of the market types and their cyclic behaviour. This in turn allows for timely characterisation of the market state and for short time-frame forecasting. The depth of a cycle may be calculated and the subsequent correction level estimated.

Originality/value

The paper utilises cross-field approach by taking methods from both physics and mathematics and applying them to property markets. It breaks new ground both in property research and in applied mathematics by showing how the current frontier in pure mathematics may be applied to property.

Details

Journal of Property Investment & Finance, vol. 37 no. 5
Type: Research Article
ISSN: 1463-578X

Keywords

Abstract

Details

Microelectronics International, vol. 30 no. 2
Type: Research Article
ISSN: 1356-5362

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Expert briefing
Publication date: 19 June 2017

Prospects for fossil fuels to end-2017

Prospects for fossil fuels to end-2017.

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