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Article
Publication date: 19 July 2022

Ilkan Sarigol, Rifat Gurcan Ozdemir and Erkan Bayraktar

This paper focuses on multi-objective order allocation with product substitution for the vaccine supply chain under uncertainty.

Abstract

Purpose

This paper focuses on multi-objective order allocation with product substitution for the vaccine supply chain under uncertainty.

Design/methodology/approach

The weighted-sum minimization approach is used to find a compromised solution between three objectives of minimizing inefficiently vaccinated people, postponed vaccinations, and purchasing costs. A mixed-integer formulation with substitution quantities is proposed, subject to capacity and demand constraints. The substitution ratios between vaccines are assumed to be exogenous. Besides, uncertainty in supplier reliability is formulated using optimistic, most likely, and pessimistic scenarios in the proposed optimization model.

Findings

Covid-19 vaccine supply chain process is studied for one government and three vaccine suppliers as an illustrative example. The results provide essential insights for the governments to have proper vaccine allocation and support governments to manage the Covid-19 pandemic.

Originality/value

This paper considers the minimization of postponement in vaccination plans and inefficient vaccination and purchasing costs for order allocation among different vaccine types. To the best of the authors’ knowledge, there is no study in the literature on order allocation of vaccine types with substitution. The analytical hierarchy process structure of the Covid-19 pandemic also contributes to the literature.

Details

Journal of Humanitarian Logistics and Supply Chain Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-6747

Keywords

Book part
Publication date: 29 January 2021

Lu Yang

After the 2008 global financial crisis, the world has been through an improving economic integration. The scale of RMB cross-border transaction flows expands as well…

Abstract

After the 2008 global financial crisis, the world has been through an improving economic integration. The scale of RMB cross-border transaction flows expands as well. Countries around China are gradually accepting the RMB as a means of trading and investing. Nowadays, the phenomenon of RMB substitutes the currencies of neighboring countries has become more and more widespread. As a frontier region for China's opening up to the outside world, Hong Kong's financial market is highly transparent with perfect infrastructures. The completion of the Hong Kong offshore RMB market leads to a rise of the RMB stock in Hong Kong, so there is a clear phenomenon of RMB substituting Hong Kong dollars (HKDs) in Hong Kong. This paper studies the substitution effect of RMB and HKD from both theoretical and empirical aspects, and puts forward policy recommendations based on the research results.

Book part
Publication date: 31 August 2016

Gwendolyn K. Lee and Srikanth Parachuri

The purpose of this original research is to explore whether firms redeploy the resources that were withdrawn from existing businesses and use them to enter an emerging…

Abstract

The purpose of this original research is to explore whether firms redeploy the resources that were withdrawn from existing businesses and use them to enter an emerging product market. We studied 244 firms that have exited from at least one business and analyzed whether the firms entered the emerging product market as a new business. The inducements of resource redeployment vary with information cues in media rhetoric about emerging and shifting threats of substitution between the firm’s existing businesses and the new one. Through our hazard rate analysis of entries of firms that exited existing businesses, we examined the hypotheses that resource redeployment through exit and entry may be driven by an interaction of the volume of substitution rhetoric with the resource commitments that the firm had made in the domain of the new business as well as the market relatedness between the firm’s existing businesses and the new one. Our study makes conceptual and methodological contributions to the research on inducements, by theorizing how performance advantages of new over existing businesses vary with product evolution and by characterizing emerging and shifting threats of substitution with content analysis of media rhetoric. Our study suggests that prior work investigating corporate diversification provides an incomplete picture of the contribution of resource relatedness to firm value and firm decision-making.

Details

Resource Redeployment and Corporate Strategy
Type: Book
ISBN: 978-1-78635-508-9

Keywords

Article
Publication date: 27 April 2022

Xiaofei Tang, Pan Zeng, Bing Sun, En-Chung Chang and Fagui Mei

A humanoid intelligent robot (HIR) possessing a human-like appearance can undertake human jobs, interact, communicate and even transmit emotions to human beings. Such…

Abstract

Purpose

A humanoid intelligent robot (HIR) possessing a human-like appearance can undertake human jobs, interact, communicate and even transmit emotions to human beings. Such robots have gradually been integrated into people's daily life and production scenarios. However, it is unclear whether and by what mechanism HIRs can stimulate people’s risk perception and its impact on consumption attitudes. Based on the risk decision theory, this study aims to take the social value substitution attribute of a HIR as the incentive and analyzes the influence of social value substitution and risk perception on the customers’ consumption attitudes.

Design/methodology/approach

Three experiments were conducted to investigate the related questions about the social value substitution attribute of a HIR, its impact on risk perception and the customers’ consumption attitudes.

Findings

The results reveal that physical labor, intellectual labor, friendship, kinship and the ego constitute the hierarchical elements of social value substitution. Among them, physical labor and intellectual labor pertain to the dimension of social function value substitution, while friendship, kinship and ego pertain to the dimension of social presence value substitution; social function value substitution and social presence value substitution affect the subjects’ risk perception positively, but the latter arouses a stronger risk perception; the 2 (risk perception of social function value: security/danger) × 2 (risk perception of social presence value: security/danger) condition corresponds to diverse consumption attitudes.

Originality/value

The results enrich the theories of the “cha-xu pattern” and “uncanny valley” and provide reference for the healthy development of the HIR industry.

Details

Nankai Business Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 1 April 2021

Ranu Singh and Vinod Kumar Mishra

Carbon emission is a significant issue for the current business market and global warming. Nowadays, most countries have focused to reduce the environmental impact of…

Abstract

Purpose

Carbon emission is a significant issue for the current business market and global warming. Nowadays, most countries have focused to reduce the environmental impact of business with durable financial benefits. The purpose of this study is to optimize the entire cost functions with carbon emission and to find the sustainable optimal ordering quantity for retailers.

Design/methodology/approach

This paper illustrates a sustainable inventory model having a set of two non-instantaneous substitutable deteriorating items under joint replenishment with carbon emission. In this model demand and deterioration rate are considered as deterministic, constant and triangular fuzzy numbers. The objective is to find the optimal ordering quantity for retailers and to minimize the total cost function per unit time with carbon emission. The model is then solved with the help of Maple software.

Findings

This paper presents a solution method and also develop an algorithm to determine the order quantities which optimize the total cost function. A numerical experiment illustrates the improvement in optimal total cost of the inventory model with substitution over without substitution. The graphical results show the convexity of the cost function. Finally, sensitivity analysis is given to get the impact of parameters and validity of the model.

Originality/value

This study considers a set of two non-instantaneous substitutable deteriorating items under joint replenishment with carbon emission. From the literature review, in the authors’ knowledge no researcher has undergone this kind of study.

Article
Publication date: 30 October 2009

Assandé Désiré Adom, Subhash C. Sharma and A.K.M. Mahbub Morshed

This paper aims to investigate the presence of currency substitution in eight African countries.

1084

Abstract

Purpose

This paper aims to investigate the presence of currency substitution in eight African countries.

Design/methodology/approach

This study investigates the presence of currency substitution in eight African countries – Egypt, Morocco, Nigeria, Ghana, Kenya, South Africa, Tunisia and Zambia – for the period 1976 to 2005 using both regional and US dollar as anchor currencies.

Findings

The paper finds that currency substitution is prevalent in Ghana and Nigeria when CFA franc is used as an anchor currency. However, when US dollar is used as an anchor currency there is no evidence of currency substitution in Ghana, but the presence of currency substitution in Nigeria is still observed. The paper also finds the presence of currency substitution in South Africa, but not in Egypt when the US dollar is the anchor currency. For Kenya, Tunisia and Zambia there is no evidence of currency substitution irrespective of the anchor currencies considered. In the case of Morocco, no evidence of currency substitution is observed when the Egyptian pound is used as anchor currency, but there is weak evidence of currency substitution when the US dollar is considered.

Originality/value

This paper provides useful information on the presence of currency substitution in African countries.

Details

Journal of Economic Studies, vol. 36 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 12 August 2019

Rafal Ohme and Christo Boshoff

Some marketers have challenged psychologists’ contention that human beings can only learn by using conscious effort. They argue that advertising can be effective at low…

Abstract

Purpose

Some marketers have challenged psychologists’ contention that human beings can only learn by using conscious effort. They argue that advertising can be effective at low levels of (or even no) attention. Also, despite the absence of (or low levels of) consciousness, these subconscious responses can be linked to brands. The purpose of this study is to investigate the impact of implicit learning in the context of logo substitution – an image that may not look like the original logo, and may not even be consciously associated with the original brand or its logo.

Design/methodology/approach

Data were collected by means of two quasi-experimental studies.

Findings

The results suggest that, thanks to implicit learning, logo substitution can be effective.

Research limitations/implications

One limitation was that data were collected from two relatively small convenience samples.

Practical implications

Logo substitution can be of value when a company faces a situation when advertising is banned or restricted, when the target market is saturated with marketing stimuli (clutter) and when there is a risk that aggressive advertising can lead to psychological reactance. The purpose of logo substitution would then be to unobtrusively activate mental representations closely related to the original logo.

Originality/value

The central contribution of this study is that it demonstrates how the principles of implicit social cognition, implicit learning and logo substitution can be used by marketers to overcome the undesirable and even adverse advertising circumstances they sometimes face.

Details

Journal of Consumer Marketing, vol. 36 no. 5
Type: Research Article
ISSN: 0736-3761

Keywords

Article
Publication date: 4 April 2018

Chuanxu Wang, Yanbing Li and Zhengcai Wang

This paper aims to develop a bi-objective mixed integer non-linear programing model to optimize the supply chain networks consisting of raw material providers, final…

Abstract

Purpose

This paper aims to develop a bi-objective mixed integer non-linear programing model to optimize the supply chain networks consisting of raw material providers, final product manufacturers and distribution centers. Raw material substitution caused by varying raw material supply amounts, prices and carbon emissions and final product substitution due to different product prices and carbon emissions are considered.

Design/methodology/approach

The proposed model aims to achieve total profit maximization and total carbon emission minimization. The objective function of carbon emissions is converted into a maximization problem by changing minimum to maximum. The composite objective function is the weighted sum of the bias value of each objective function. The model is then solved using software Lingo12.

Findings

Numerical analysis results show that an increase in the number of alternate raw materials for original raw material helps improve supply chain network performance, and variation in that number causes detectable but not significant changes in downstream final product substitution results.

Originality/value

The major differences between this work and existing research are as follows: first, although previous research considered carbon emissions in supply chain network optimization, it has not considered the substitution effects of products or raw materials. This paper considers the substitution of both raw material and productions. Second, the item substitution considered by previous research is derived from inventory shortage or price difference of original items. However, the substitution considered in the present paper is a response to differences in purchase price, production cost and carbon emissions for items.

Details

Kybernetes, vol. 47 no. 8
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 13 January 2012

Hui Di, Steven A. Hanke and Wei‐Chih Chiang

This paper aims to examine whether the substitution of employee stock options (ESOs) for debt occurs for firms with different tax status classifications throughout the…

Abstract

Purpose

This paper aims to examine whether the substitution of employee stock options (ESOs) for debt occurs for firms with different tax status classifications throughout the conditional distribution of interest expense before and after the implementation of Statement of Financial Accounting Standard 123R (SFAS 123R).

Design/methodology/approach

This study uses Censored Quantile Regression (CQR) to assess whether the substitution effect is dependent on firms' position in the conditional distribution of interest expense. Our sample firms are categorized into two groups: one group (tax‐sensitive) that is sensitive to additional deductions due to a moderate income level and the other group (tax‐insatiable) that is not sensitive because of very high income level.

Findings

The substitution effect is not present for firms with below medium level of interest expense. Only tax‐sensitive firms substitute at medium levels of interest expense while both tax‐sensitive and tax‐insatiable firms substitute at high levels of interest expense. Tax‐insatiable firms with very high levels of interest expense also substitute; however, tax‐sensitive firms with very high levels of interest expense only substitute after SFAS 123R required firms to report ESO expense in financial statements. We attribute the substitution patterns revealed by the CQR analysis to a positive relationship between interest expense and cost of debt.

Originality/value

To the authors' knowledge, this is the first paper to analyze firms' tax status classification impact on the substitution of ESO expense for interest expense across different levels of interest expense. Our application of CQR should benefit researchers who are interested in examining explanatory variables' impact at various points in the conditional distribution of the dependent variable. This study also refines the conjecture that ESOs are substitutes for debt by demonstrating that such relationship is dependent on the level of interest expense and tax status. Furthermore, the finding of firms substituting ESOs for debt provides accounting standard setters a reason to begin requiring firms to re‐measure the value of ESOs after the grant date until the exercise date.

Details

Managerial Finance, vol. 38 no. 2
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 1 January 2006

Heino Stöver, Joris Casselman and Laetitia Hennebel

The objective of this study was to examine practices and policies in place for the provision of substitution treatment in prison in 18 European countries. Methodology…

162

Abstract

The objective of this study was to examine practices and policies in place for the provision of substitution treatment in prison in 18 European countries. Methodology. Across the 15 European member states (prior to 1 May 2004) and Czech Republic, Poland and Slovenia, interviews with ministerial representatives, professionals (i.e. service providers and security officials) working in prisons, and a total of 33 focus groups with a total of 132 male and 52 female prisoners were conducted. Results. Although constraints of access to substitution treatment for specific target groups only (e.g. HIV‐positive opiate users) have largely vanished, substitution treatment is now offered to a broad cross‐section of prisoners. The provision of this treatment still lags behind the standards of substitution treatment in the community (regarding access and continuity). In most countries, this form of therapy is most likely to be discontinued when entering prison. A treatment gap persists between prisoners requiring substitution maintenance treatment and those receiving it. Heterogeneous and inconsistent regulations and treatment modalities appear throughout Europe, sometimes within the same country or region. The concrete provision practice of substitution treatment in prison varies from one country to the other, from one prison to the other, within a medical team, and even from one doctor to another. Although psychosocial care was seen as a valuable additional and necessary part of the treatment to support the medical part of the substitution treatment in prison, it was found that such support was rarely provided. Compared to previous research, this study illustrates that the scope of substitution treatment has extended considerably across Europe. Across the board, a consensus surrounding the need to continue substitution treatment that had already been started in the community was apparent.

Details

International Journal of Prisoner Health, vol. 2 no. 1
Type: Research Article
ISSN: 1744-9200

Keywords

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