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1 – 10 of over 37000Olli-Pekka Hilmola, Weidong Li and Andres Tolli
For decades, it was emphasized that manufacturing and trading companies should aim to be lean with very small inventories. However, in the recent decade, time-significant change…
Abstract
Purpose
For decades, it was emphasized that manufacturing and trading companies should aim to be lean with very small inventories. However, in the recent decade, time-significant change has taken place as nearly all of the “old west” countries have now low interest rates. Holding inventories have been beneficial for the sake of customer service and for achieving savings in transportation and fixed ordering costs.
Design/methodology/approach
In this study, inventory management change is examined in publicly traded manufacturing and trade companies of Finland and three Baltic states (Estonia, Latvia and Lithuania) during the years 2010–2018.
Findings
Inventory efficiency has been leveled off or falling in these countries and mostly declining development has concerned small- and medium-sized enterprises (SMEs). It is also found that inventory efficiency is in general lower in SMEs than in larger companies. Two companies sustaining in inventory efficiency are used as an example that lean has still significance, and higher inventories as well as lower inventory efficiency should not be the objective. Two companies show exemplary financial performance as well as shareholder value creation.
Research limitations/implications
Work concerns only four smaller countries, and this limits its generalization power. Research is one illustration what happens to private sector companies under low interest rate policies.
Practical implications
Continuous improvement of inventory efficiency becomes questionable in the light of current research and the low interest rate environment.
Originality/value
This is one of the seminal studies from inventory efficiency as the global financial crisis taken place in 2008–2009 and there is the implementation of low interest rates.
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Don P. Holdren and Craig A. Hollingshead
Integrates inventory control issues with corporate financial management and commercial lending practices. The first part of the paper considers inventory management techniques…
Abstract
Integrates inventory control issues with corporate financial management and commercial lending practices. The first part of the paper considers inventory management techniques used by inventory holding businesses, then explains how inventory segmentation techniques may be used by financial credit managers. Suggests ways inventory management influences the cost of working capital to businesses. Commercial loan officers can use this information to adopt a market‐based lending strategy that segments inventory and closely matches inventory loan risks and return.
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Educational wastage, in respect of students failing successfully to complete their course in the time assigned (either by dropping‐out, failing, or resitting) is a matter of…
Abstract
Educational wastage, in respect of students failing successfully to complete their course in the time assigned (either by dropping‐out, failing, or resitting) is a matter of concern to any institution. Those who see educational wastage in financial terms can currently point to specific courses in specific institutions where wastage, as defined above, runs at over 40 per cent. Even those who focus more on the developmental needs of students than on the money involved are disturbed by the psychological wear and tear of failing to cope adequately with a course. In looking for causes the students tend frequently to blame the institution, and vice versa. Perhaps the most frequently expressed cause, agreed on by both parties, is lack of interest. ‘He or she just doesn't seem interested in the work’, or ‘I found when I got there that I wasn't interested in the subjects’. This leads one to ask whether students sufficiently check out their interests before applying, and whether course tutors tend to make the assumption — not always warranted — that because students apply for a certain course they must be interested in it.
Paul D. Larson and Margret J.C. Sijbrands
Evidence of the quick response (QR) impact on retail inventorylevels is presented. QR involves technology‐driven, co‐operativeretailer/supplier relationships. QR enabling…
Abstract
Evidence of the quick response (QR) impact on retail inventory levels is presented. QR involves technology‐driven, co‐operative retailer/supplier relationships. QR enabling technology includes: point‐of‐sale systems, uniform product/article codes, and electronic data interchange. Using statistical analysis of Canadian chain store inventory data, and a case study on the largest chain store operation in The Netherlands, this study finds that QR is bringing lower inventory levels to retailers. There are two main retail management implications of these findings. First, merchandisers can use QR techniques to reduce inventory levels – but only up to a point. Since stock stimulates sales, retailers should use item/stock‐keeping unit (SKU) level data to study optimal (which may not equal minimum) inventory levels. Second, to reap the full rewards of QR implementation, retailers must share the SKU data with suppliers, and work towards more co‐operative relationships.
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Walter C Borman, Jerry W Hedge, Kerri L Ferstl, Jennifer D Kaufman, William L Farmer and Ronald M Bearden
This chapter provides a contemporary view of state-of-the science research and thinking done in the areas of selection and classification. It takes as a starting point the…
Abstract
This chapter provides a contemporary view of state-of-the science research and thinking done in the areas of selection and classification. It takes as a starting point the observation that the world of work is undergoing important changes that are likely to result in different occupational and organizational structures. In this context, we review recent research on criteria, especially models of job performance, followed by sections on predictors, including ability, personality, vocational interests, biodata, and situational judgment tests. The paper also discusses person-organization fit models, as alternatives or complements to the traditional person-job fit paradigm.
Jingbin Wang, Kexin Hou and Xuechang Zhu
The purpose of this study is to demonstrate the nonlinear relationship between inventory stickiness and productivity, with investment efficiency being a mediator and environmental…
Abstract
Purpose
The purpose of this study is to demonstrate the nonlinear relationship between inventory stickiness and productivity, with investment efficiency being a mediator and environmental dynamism being a moderator.
Design/methodology/approach
Using a large panel data collected from 1,479 Chinese listed manufacturing enterprises over the period from 2010 to 2020, this research employs the instrumental variable method combined with two-stage least squares estimators to explore the inverted-U-shaped relationship between inventory stickiness and productivity. Furthermore, the mediating role of investment efficiency and the moderating role of environmental dynamism are demonstrated via two three-model systems.
Findings
As its core, productivity initially increases with inventory stickiness until a turning point at the end of the sample, beyond which the incremental effect of inventory stickiness on productivity become negative. That is, an inverted U-shaped relationship between inventory stickiness and productivity is found to exist. Moreover, further mediated moderation analysis highlights that investment efficiency is a key mediator of this relationship, whereas environmental dynamism is a key moderator.
Practical implications
Managers ought to gauge carefully against the tradeoffs between inventory stickiness and productivity. In general, over 90% of manufacturing enterprises have great potential to increase productivity by implementing sticky inventory management. In addition, managers are suggested to place emphasis on investment management and environmental strategy.
Originality/value
This paper contributes to the current understanding about productivity by illustrating and verifying the nonlinear effect of sticky inventory management. It may be the first study to empirically demonstrate the mediating effect of investment efficiency and the moderating effect of environmental dynamism on the relationship between inventory stickiness and productivity.
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The food and beverage industry, particularly the agro‐processing and packaging industry, plays a critical role in the economies of Latin America and Caribbean countries. To remain…
Abstract
Purpose
The food and beverage industry, particularly the agro‐processing and packaging industry, plays a critical role in the economies of Latin America and Caribbean countries. To remain competitive and to increase competitiveness, companies operating in this industry must achieve operational efficiency – where one contributing factor would be the efficient management of their work‐in‐progress (WIP) inventories.
Design/methodology/approach
Constructs from related manufacturing management research areas such as manufacturing strategy and coordination theory, are incorporated into a conceptual framework to examine the reasons WIP are needed in food plants. The framework is used to inform the development of an audit tool, which is applied in a case study.
Findings
An audit tool is proposed, which can be used by practitioners to review the structural and infrastructural decisions that impact WIP.
Research limitations/implications
The audit tool is applied in one case study. Further application of the tool will test its overall comprehensiveness.
Practical implications
The audit tool can be used as part of a structured decision making process.
Originality/value
The paper brings together a number of constructs to create an audit tool that can be used in both greenfield and existing plants in the food industry.
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Relates occupational personality profiles of 101 redundant seniorexecutives to their success in obtaining new jobs. Executives wereassessed using a broad spectrum personality…
Abstract
Relates occupational personality profiles of 101 redundant senior executives to their success in obtaining new jobs. Executives were assessed using a broad spectrum personality questionnaire (16PF), an interpersonal relations inventory (Firo‐B) and the SHL management interest inventory. The measures of job‐hunting success were time to be placed in a new job after first being made redundant, new salary and increase in salary over previous level. Average age of the sample was 42.4 years, most were males and had spent an average of 11.8 years with their last organization. Time to get a new job ranged between one and 12 months and averaged 3.9 months, new salary averaged £35,670, and changes in salary ranged from a decrease of £25,000 to an increase of £67,000, and averaged £3,430. Findings suggest that executives who were intelligent, resilient, assertive, yet sensitive to others, and who were relatively more experienced and well‐motivated were significantly more effective at job‐hunting.
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This paper reviews current theories related to creativity, the techniques that have been used to measure it, and the implications of important, recent research on how creative…
Abstract
This paper reviews current theories related to creativity, the techniques that have been used to measure it, and the implications of important, recent research on how creative actions might be affected by the relationship between the individual and the group. From this work, the possible ways in which creative actions may be influenced by organisational settings are examined, and a revised think‐tank model is suggested that is consistent with maximising individuals’ creative contributions.
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Glenn Johnson, Kirk Johnson and Marianne Johnson
The notes reproduced here were taken by Glenn Johnson in Lloyd Mints’ course on Money and Banking at the University of Chicago in the fall of 1946. Several additional sets of…
Abstract
The notes reproduced here were taken by Glenn Johnson in Lloyd Mints’ course on Money and Banking at the University of Chicago in the fall of 1946. Several additional sets of course notes taken by Glenn Johnson have been published in the archival volumes of Research in the History of Economic Thought and Methodology. These included notes from Frank Knight's course on economic theory (Volume 24C) and Albert L. Meyer's course entitled elements of modern economics (appearing in this volume). A brief biography of Glenn Johnson is provided in Volume 24C, along with notes from his course on Agricultural Economics Methodology taught at Michigan State University.