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- Barrow, Devon K., et al.
(författare)
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Distributions of forecasting errors of forecast combinations : Implications for inventory management
- 2016
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Ingår i: International Journal of Production Economics. - : Elsevier. - 0925-5273 .- 1873-7579. ; 177, s. 24-33
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Tidskriftsartikel (refereegranskat)abstract
- Inventory control systems rely on accurate and robust forecasts of future demand to support decisions such as setting of safety stocks. The combination of multiple forecasts is shown to be effective not only in reducing forecast errors, but also in being less sensitive to limitations of a single model. Research on forecast combination has primarily focused on improving accuracy, largely ignoring the overall shape and distribution of forecast errors. Nonetheless, these are essential for managing the level of aversion to risk and uncertainty for companies. This study examines the forecast error distributions of base and combination forecasts and their implications for inventory performance. It explores whether forecast combinations transform the forecast error distribution towards desired properties for safety stock calculations, typically based on the assumption of normally distributed errors and unbiased forecasts. In addition, it considers the similarity between in- and out-of-sample characteristics of such errors and the impact of different lead times. The effects of established combination methods are explored empirically using a representative set of forecasting methods and a dataset of 229 weekly demand series from a leading household and personal care UK manufacturer. Findings suggest that forecast combinations make the in- and out-of-sample behaviour more consistent, requiring less safety stock on average than base forecasts. Furthermore we find that using in-sample empirical error distributions of combined forecasts approximates well the out-of-sample ones, in contrast to base forecasts.
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| 4. |
- Cenamor, Javier, et al.
(författare)
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Adopting a Platform Approach in Servitization : Leveraging the Value of Digitalization
- 2017
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Ingår i: International Journal of Production Economics. - : Elsevier. - 0925-5273 .- 1873-7579. ; 192, s. 54-65
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Tidskriftsartikel (refereegranskat)abstract
- This study explores how a platform approach facilitates the implementation of advanced service offerings in manufacturing firms. Understanding servitization through a platform approach is important because many manufacturing firms fail to manage the service paradox, that is, the challenge of simultaneously enriching the value proposition by adding services while maintaining cost levels. This study focuses on how adopting a platform approach leverages the value of digital and information technologies (e.g., smart and connected machines) for advanced service offerings. It is argued that a platform approach based on a modular architecture can enable manufacturers to pursue both customization and operational efficiency. Based on multiple case studies, the findings highlight the importance of information modules replacing product and service modules as the core modules for successful servitization. More specifically, the findings illustrates the journeys of manufacturing firms as they leverage value from information modules to facilitate the orchestrating role of back-end units and the builder role of front-end units.
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- Chen, Lujie, et al.
(författare)
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Supply chain collaboration for sustainability: A literature review and future research agenda
- 2017
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Ingår i: International Journal of Production Economics. - : ELSEVIER SCIENCE BV. - 0925-5273 .- 1873-7579. ; 194, s. 73-87
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Forskningsöversikt (refereegranskat)abstract
- New technology is altering business strategies and innovation capabilities while increasing the possibilities of production and process innovation. Supply chain collaboration undertaken for the sake of sustainability is currently speeding up this process of change; a growing pool of research is exploring the links between sustainability collaboration and company performance on economic, environmental, and social metrics. It is a good time to review the literature to reveal what has been studied and what are the gaps in the current body of knowledge, and also to comment on what the future research agenda should include. For these purposes, the authors conducted a systematic literature review and a quantitative bibliometric analysis. Results indicate that research about supply chain collaboration for the purpose of sustainability is gaining growing attention in the business field; however, environmental and economic considerations still dominate the research, while there is a lack of consideration about social concerns such as child labor and personal development. In addition, the collaboration partners under investigation have mainly been the company and its customers and suppliers, whereas competitors and other horizontal collaboration partners have received little attention.
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| 6. |
- Chen, Lujie, et al.
(författare)
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The relationship between disclosures of corporate social performance and financial performance : Evidences from GRI reports in manufacturing industry
- 2015
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Ingår i: International Journal of Production Economics. - : Elsevier. - 0925-5273 .- 1873-7579. ; 170, s. 445-456
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Tidskriftsartikel (refereegranskat)abstract
- Whether the corporate social performance affect the financial performance is still unclear in many manufacturing companies. We commonly expect, on one side, that profitable corporations have stronger incentives to reveal information on the social performance in order to improve their publicity; on the other hand, companies may face the fear of rising costs due to Corporate Social Responsibility (CSR) activities. With increasing concerns of CSR, it is timely to investigate the relationship between the disclosure of corporate social performance and the financial performance. In this paper with the above study objective, we use Global Reporting Initiative (GRI) reports of 75 sample companies, collect evidences by applying the method of structured content analysis of the cases and attempt to identify this relationship. The corporate social performance is measured by the indicators according to the GRI guidelines, i.e. within the categories of Labor practices and decent work, Human Rights, Society as well as Product responsibility. Financial performance is measured by return on equity, sales growth and cash flow/sales ratio. Using statistical evaluation methods, our results indicate that the categories of Human Rights, Society as well as Product responsibility display a significant and positive correlation with the return on equity. Same conclusion also holds for many CSR indicators. Nevertheless, when examining the CSR practices across different manufacturing sectors, we have not observed significant differences. The study results are important for understanding the development and implementation of CSR practices in the manufacturing industry.
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| 7. |
- Ding, Huiping, et al.
(författare)
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Collaborative mechanism of a sustainable supply chain with environmental constraints and carbon caps
- 2016
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Ingår i: International Journal of Production Economics. - : ELSEVIER SCIENCE BV. - 0925-5273 .- 1873-7579. ; 181, s. 191-207
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Tidskriftsartikel (refereegranskat)abstract
- Negative impacts on environment such as carbon emissions and pollution resulting from the business activities of firms in a supply chain have attracted great attention worldwide. Hence, one of the crucial issues for supply chain management is the trade-off between economic objectives and environmental sustainability. This paper focuses on investigating the government policy incentive mechanism, with which supply chain members are motivated to work collaboratively to reduce carbon and pollutant emissions by investing in producing environmental-friendly products (EFP). Such a mechanism affects the transfer price through negotiation between the supply chain firms, and consequently it has an impact on the supply chains value transition and profit allocation. A collaborative supply chain decision-making framework is formulated with environmental constraints and carbon caps; its objective is to maximize the net present value of an integrated supply chain as well as satisfy the interests of its individual members. Our key contribution lies in exploring a decision-making mechanism for an environmentally sustainable supply chain that is jointly constrained by environmental carrying capacities and carbon caps, and also takes into account government policy incentives. The results show that collaboration between supply chain members plays a crucial role in improving their environmental performance, as the transfer price is determined through negotiations to share government subsidies to satisfy the individual interests of supply chain members while the level of pollutants and carbon emissions are in compliance with environmental standards.(C) 2016 Elsevier B.V. All rights reserved.
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| 8. |
- Dong, Junfeng, et al.
(författare)
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Two-period pricing and quick response with strategic customers
- 2019
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Ingår i: International Journal of Production Economics. - : Elsevier BV. - 0925-5273 .- 1873-7579. ; 215, s. 165-173
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Tidskriftsartikel (refereegranskat)abstract
- This research examines the impact of the strategic customer behavior in two-period pricing and the inventory decisions in a quick response system. A model with a differentiated value period of product is developed when customers are strategic and heterogeneous. Interestingly, the unique equilibrium is proven to exist if and only if the degree of customer strategic behavior is sufficiently high. Otherwise, the dynamic pricing strategy in one selling season is not a suitable choice for a firm. Moreover, the impact of strategic consumers on pricing and inventory strategies is investigated in the case where the clientele's taste for product value follows a uniform distribution. Surprisingly, contrary to previous studies, we found that strategic consumers may yield more revenues in specific scenarios. An extended analysis on Beta distribution is also presented, showing that there is greater chance to obtain the highest profit in the supply chain when all customers are strategic and if more people prefer low-value products.
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| 9. |
- Fazlollahi, Ariyan, et al.
(författare)
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Measuring the impact of enterprise integration on firm performance using data envelopment analysis
- 2018
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Ingår i: International Journal of Production Economics. - : Elsevier BV. - 0925-5273 .- 1873-7579. ; 200, s. 119-129
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Tidskriftsartikel (refereegranskat)abstract
- Today, with rapidly developing technology and changing business models, organizations face rapid changes in both internal and external environments. To be able to rapidly respond to such changing environments, integration of software systems has become a top priority for many organizations. However, despite extensive use of software systems integration, quantitative methods for estimating the business value of such integrations are still missing. Using Data Envelopment Analysis (DEA) and the microeconomic concept of marginal rates, this study proposes a method for quantifying the effects of enterprise integration on the firm performance. In the paper, we explain how DEA can be used to evaluate the marginal benefits of enterprise integration. Our proposed method is to measure and compare the productive efficiency of firms using enterprise integration, specifically by relating the benefits produced to the resources consumed in the process. The method is illustrated on data collected from 12 organizations. The defined method has a solid theoretical foundation, eliminating the need for a priori information about the relationship between different measures. Furthermore, the framework could be used not only to quantify the business value of enterprise integration, but also to estimate trade-offs and impacts of other subjective managerial goals on the results. The major limitation of the proposed method is the absence of a comprehensive theory relating IT architecture changes to organizational outcomes. The underlying model is strongly dependent on the relevancy and accuracy of the included variables, as well as number of data units, introducing uncertainties to the outcomes of the model.
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| 10. |
- Fundin, Anders, et al.
(författare)
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Challenges and propositions for research in quality management
- 2018
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Ingår i: International Journal of Production Economics. - : Elsevier B.V.. - 0925-5273 .- 1873-7579. ; 199, s. 125-137
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Tidskriftsartikel (refereegranskat)abstract
- From its inception, the field of quality management (QM) has been characterised by practice-driven development. Although QM has reached maturity as a field of research based on empirical enquiry, its practitioners still struggle to adapt QM implementations to reap their benefits. This study aims to identify their challenges to better understand how contemporary QM research addresses them. We propose approaches to bridge the potential relevance gaps between research and practice. A Delphi study of QM practitioners in Swedish private and public organisations, several of which operate globally, generated 49 challenges. An exploratory factor analysis was performed to cluster these challenges into themes, and the literature was reviewed to investigate how each theme has been addressed in QM research. The empirical investigation identified three themes related to future QM challenges—organisations’ adaptability to rapid changes in the business environment, quality as a strategic concern for business owners, and managerial ownership of quality. By analysing these challenges, six propositions for future research were proposed to reduce potential relevance gaps. Future research should focus on how to make QM a strategic concern for owners, and explore how it can contribute to organisational ambidexterity and adaptability. Research should also determine how context influences the way QM is applied, and investigate how it can improve organisational learning and innovation. Finally, research should indicate how top managers can adopt the responsibilities of quality managers, and explore the ways the principal values of QM can be better integrated into organisations.
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