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A Simultaneous Pricing and Inventory Control Model for a Single Product with Capacitated Working Capital
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
1-5
Received:
5 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: The simultaneous stochastic pricing and inventory management with capacitated cash-on-hand is a profit maximization problem faced by a firm, which has limited working capital for its liabilities. In addition to this working capital constraint, the company has to dynamically price its products and determine inventory levels to minimize its expected cost. In our study, we tackle this complicated problem by assuming a single product, periodic review inventory model with finite multiple periods, and imperfect market information. We also assume no fixed cost in order to relax the complexity of the problem and perform numerical analysis for providing managerial implications. We investigate several research questions to extend our understanding of this complicated but very practical problem faced by numerous decision-makers in organizations. A discussion of possible optimal policies for this complicated unanswered problem with working capital constraints is explored.
Abstract: The simultaneous stochastic pricing and inventory management with capacitated cash-on-hand is a profit maximization problem faced by a firm, which has limited working capital for its liabilities. In addition to this working capital constraint, the company has to dynamically price its products and determine inventory levels to minimize its expected ...
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A Case Study Approach for Developing Supply Chain Management Models
A. K. M. Nurol Huda,
Bishwajit Banik Pathik,
Ashfaque A. Mohib,
Md. Mamun Habib
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
6-14
Received:
5 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: This descriptive analysis exemplifies various events in sequence to design conceptual Supply Chain Management (SCM) model for JMI Group in order to explain different functions under SCM department. JMI Group, one of the prominent and diversified universal corporations in Bangladesh, was established in April 1999 and comprised of 12 subsidiary enterprises covering both manufacturing and service industries. Its SCM organization is framed based on primary data, i.e. interviewing top management, other stakeholders and secondary data like official documents, internal reports, websites, books, journals, conferences, etc. This paper develops conceptual structure for JMI group, principally a holistic view, simplified models for individual company and integrated models signifying manufacturing process and service process. The individual models exemplify distinct supply chain management for all the subsidiary companies. Each framework methodically establishes suppliers in terms of internal and external, process through the manufacturing and service industries, customers, i.e. internal and external, and finally the end users. The integrated models illustrate that the subsidiary companies of JMI Group are interlinked with each other through complex networks in terms of either internal supplier or internal customer either as manufacturing or service industry. These suggested models would be appropriate towards all other group of companies in developing countries those intend to put into practice modern supply chain management perception into the business. This case study would expose the additional frontiers for potential researchers as well as practitioners to pursue research on SCM for the conglomerates locally and internationally as well as to implement model for real life application respectively.
Abstract: This descriptive analysis exemplifies various events in sequence to design conceptual Supply Chain Management (SCM) model for JMI Group in order to explain different functions under SCM department. JMI Group, one of the prominent and diversified universal corporations in Bangladesh, was established in April 1999 and comprised of 12 subsidiary enter...
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Supply Chain Technology Adoption: Its Clarification, Evolution, Classification, and Practicality in Textile and Apparel Industry
Khai-Loon Lee,
Zulkifli Mohamed Udin,
Mohamad Ghozali Hassan
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
15-21
Received:
5 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: In today’s dynamic business environment, technology is the most powerful tools to sustain in the competitive global market place. However, supply chain technology is the 21st century global supply chain management tool for achieving supply chain operational competitiveness. The global manufacturing sector, especially the textile and apparel industry are essentially known for its supply chain dependency. Companies are struggling to find ways to improve their reliability, responsiveness, agility, and costs and in turn competitiveness by changing their operations through adopting new supply chain technology. Even though information technology is widely implemented and studied in countless different contexts, but the clarifications between information technology and supply chain technology are still unclear. In this study, the diversity between information technology and supply chain technology is interpreted through a thorough and comprehensive review of the literatures. From there, the evolution of supply chain technology is undoubtedly tracked and the classification of supply chain technology has been clearly stated. The practical contributions of supply chain technology adoption to supply chain performance are the most excited part of this study. The result of this study could be used as a precursor to support future researchers in further investigation on this area. Thus, recommendations and suggestions for future study directions are indicated.
Abstract: In today’s dynamic business environment, technology is the most powerful tools to sustain in the competitive global market place. However, supply chain technology is the 21st century global supply chain management tool for achieving supply chain operational competitiveness. The global manufacturing sector, especially the textile and apparel industr...
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A Review of Research on Crime Displacement Theory
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
22-30
Received:
27 September 2014
Accepted:
13 October 2014
Published:
11 December 2014
Abstract: Reppetto (1976) published crime displacement theory in Journal of Research in Crime and Delinquency and put forward his theoretical underpinnings for the future analysis of crime displacement phenomenon and outlined five types of crime displacement such as: 1. Temporal - Committing the intended crime at a different time; 2. Tactical - Committing the intended crime in a different way; 3. Target - Committing the intended crime type on a different target; 4. Spatial - Committing the intended crime type to the same target in a different place; 5. Functional - Committing a different type of crime. Research on crime displacement began to be carried out in a more systematic manner during the 1990s. There was a significant step forward when research in 1990 and 1993 specifically studied displacement and found it to be much less of problem than had generally been supposed. Crime displacement occurred where it was most likely to be similar targets or to similar and adjacent areas. Although the findings were greatly positive, there was and not surprisingly, variation between different crimes. Research has consistently found that crime displacement is the exception rather than the rule and that diffusion of benefits is just as likely and sometimes more likely to occur. Research also shows that crime displacement is unlikely in the aftermath of broader community development programs. In cases where some displacement occurs it tends to be less than the gains achieved by the response and found that crime displacement and diffusion are equally likely to occur. The theory of crime displacement is related to rational choice theory and there are three assumptions regarding the potential perpetrator and the target. The theory of crime displacement does not explain the reason of perpetrators committing a certain crime or why some crimes are more attractive to them than others. Crime displacement can occur in different ways or methods. An often-stated opinion about crime displacement is the theory, its practical usages, that it can induce a sense of disbelief towards crime prevention initiatives.
Abstract: Reppetto (1976) published crime displacement theory in Journal of Research in Crime and Delinquency and put forward his theoretical underpinnings for the future analysis of crime displacement phenomenon and outlined five types of crime displacement such as: 1. Temporal - Committing the intended crime at a different time; 2. Tactical - Committing th...
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Conceptual Framework for Estimating Postharvest Losses in Food Supply Chains: the Case of Plantain Fruits in Nigeria
Kwami Justina Kenobi Morris,
Nitty Hirawaty Kamarulzaman
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
31-37
Received:
5 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: Postharvest losses which refer to the measurable quantitative and qualitative food losses in any agro-food supply chain account for significant amounts of food loss. Lack of consistent information on exact amount of losses and assessment methods further complicate the problems and makes solutions very difficult. Plantain also known as cooking banana is an important staple food and cash crop in Nigeria with observed high postharvest losses. The current study proposes a conceptual framework for directly estimating postharvest losses and identifying causative factors using a commodity system approach.
Abstract: Postharvest losses which refer to the measurable quantitative and qualitative food losses in any agro-food supply chain account for significant amounts of food loss. Lack of consistent information on exact amount of losses and assessment methods further complicate the problems and makes solutions very difficult. Plantain also known as cooking banan...
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A Research Framework of Supply Chain Management in Ready Made Garments Industry of Bangladesh
Md. Farhan Shahriar,
Bishwajit Banik Pathik,
Md. Mamun Habib
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
38-44
Received:
29 September 2014
Accepted:
5 October 2014
Published:
11 December 2014
Abstract: This exploratory study addresses a conceptual supply chain management (SCM) model for ready-made garments (RMG) industry of Bangladesh. As different parties i.e. the suppliers, manufacturers, buyers etc. are involved in different phases of supply chain of this industry, every stage (procurement, manufacturing, replenishment, customer order) is conflicting with its next stage with the goals and objectives. In this conceptual model, attempts have been taken to create the layout and design of the procurement of raw materials, work-in-process, inventory and finished goods from various sources to the ultimate consumer in this garment business. This framework provides the opportunity to integrate and optimize the supply chain process of RMG industry of Bangladesh. The proposed conceptual framework for the RMG industry provides a novel approach for decision makers of supply chain components to review and appraise the performance toward fulfillment of ultimate goals, i.e. producing high-quality garments product, and reducing the wastage of human labor, time and money.
Abstract: This exploratory study addresses a conceptual supply chain management (SCM) model for ready-made garments (RMG) industry of Bangladesh. As different parties i.e. the suppliers, manufacturers, buyers etc. are involved in different phases of supply chain of this industry, every stage (procurement, manufacturing, replenishment, customer order) is conf...
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Perspectives in Oil and Gas Supply Chain Management
Shatina Saad,
Zulkifli Mohamed Udin,
Norlena Hasnan
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
45-50
Received:
5 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: In this globalization era, petroleum companies are one of the dynamic supply chain entities, which require a dynamic process of capabilities. Companies may encounter problems related to the dynamic process in firm’s capabilities. Such dynamic process requires simultaneous acquisition and continuous re-evaluation of partners, technologies and organizational structures. However, the more flexible the firms deal with the problems in their engagement of stakeholders, the more likely for them to explore, create, and invest in the dynamic capabilities, hence higher performance level over time. Therefore, due to their high degree of uncertainties circulate through the supply chain network; as a result, petroleum companies require dynamic supply chain capabilities. Motivated by the complexity of uncertainty in the petroleum companies and its typical characteristic of the supply chain, this study intends to understand the perspective of dynamic supply chain management focusing on the learning orientation. This study employs interpretive paradigm where it will guide towards rigor qualitative methodology. This study also provides rich and thick description of the dynamic supply chain capabilities where the outcome will contribute to the managerial and theoretical perspective of supply chain management in oil and gas industry.
Abstract: In this globalization era, petroleum companies are one of the dynamic supply chain entities, which require a dynamic process of capabilities. Companies may encounter problems related to the dynamic process in firm’s capabilities. Such dynamic process requires simultaneous acquisition and continuous re-evaluation of partners, technologies and organi...
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Demand and Supply Planning in Retail Operations
Ferdoush Saleheen,
Md. Mamun Habib,
Bishwajit Banik Pathik,
Zurina Hanafi
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
51-56
Received:
29 September 2014
Accepted:
5 October 2014
Published:
11 December 2014
Abstract: The research represents a comprehensive study of retail operation. The paper elaborates a broad perspective of a demand and supply chain which interacts with macro and micro environmental factors and translates it into a customer requirement. The authors describe on different techniques and tools on demand and supply planning which leads to an optimized level of inventory, less cash outflow, higher product varieties and a greater customer satisfaction. Eventually fulfilling all these ensures increase in sales and profits to stakeholders; an ultimate objective of a firm. This paper demonstrates a holistic view on how a firm’s supply chain operates as a whole. In addition, this study also highlights some retail examples in the US as well as in Bangladesh which unlock further frontiers for the practitioners and prospective researchers to replenish their practices as well as expertise in the retail industry respectively.
Abstract: The research represents a comprehensive study of retail operation. The paper elaborates a broad perspective of a demand and supply chain which interacts with macro and micro environmental factors and translates it into a customer requirement. The authors describe on different techniques and tools on demand and supply planning which leads to an opti...
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Added-Value Utility Formulation in Palm Oil Supply Chain Based on Risk, Investment and Technology
Syarif Hidayat,
Nunung Nurhasanah
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
57-64
Received:
6 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: In palm oil supply chain (POSC) the operational risk, investment and technology levels between the actors may not be proportionately rewarded by the same levels of added value. Each actor will attempt to obtain the highest reward. However, each actor must consider the level of added-value obtained by other actors so as to maintain the fair balance in the overall supply chain profitability. Otherwise any of the least profitable actor will withdraw itself from the supply chain and the supply chain will collapse. In this study the authors proposed a formula to calculate the utility function based added-value for each of the actors in the POSC. The utility function is a formula based on the risk, investment and technology levels of each of the POSC actors. Permutation of the three factors was used while seeking their combination that give the highest utility function added-value. To optimize the added-value distribution between the agents the concept of stakeholder dialogue was used. This research is important because the developed models offer a workable algorithm to seek optimum weight level of underlying factors while calculating utility added-value that satisfy the POSC as a whole. Agent-based modeling approach was used for this purpose to facilitate the negotiation between all actors to reach the balanced added-values. Netlogo software was used in developing the models. The proposed utility function model provided the means to find the weight values, while the optimization model proved to be practical to calculate the expected negotiated prices between all the actors. Application of the models to other types of commodity and different supply chain model will need some adjustments in the calculation.
Abstract: In palm oil supply chain (POSC) the operational risk, investment and technology levels between the actors may not be proportionately rewarded by the same levels of added value. Each actor will attempt to obtain the highest reward. However, each actor must consider the level of added-value obtained by other actors so as to maintain the fair balance ...
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Breaking the Barrier of Service Hostility: A Lean Approach to Achieve Operational Excellence
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
65-73
Received:
5 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: Due to globalization industries are rapidly growing throughout the world which leads to many manufacturing organizations. But recently service industries are beginning to emerge in large numbers almost in all parts of the world including some developing countries. In this context organizations need to have strong competitive advantage over their rivals to achieve their strategic business goals. Manufacturing industries are adopting many methods and techniques in order to achieve such competitive edge. Over the last decades manufacturing industries have been successfully practicing lean concept to optimize their production lines. Due to its huge success in manufacturing context lean has made its way into the service industry. From past literature it has been observed that there hasn’t been any significant research development of lean applicability for service industry. In fact very little importance has been addressed to service in the area of operations management. Service industries are far behind than manufacturing industries in terms of operations improvement. It will be a hectic job to transfer the lean concept from production floor to service back/front office which will obviously yield possible improvement. Service processes are not as visible as production processes and can be very complex. Lack of research in this area made it quite difficult for service industries as there are no standardized frameworks for successfully implementing lean concept in service organization. The purpose of this research paper is to capture the present scenario of service industry in terms of lean implementation. Thorough analysis of past literature will be done on the applicability and understanding of lean in service structure. Classification of research papers will be done and critical factors will be unveiled which leads to a conceptual framework for implementing lean in service industry to achieve operational excellence.
Abstract: Due to globalization industries are rapidly growing throughout the world which leads to many manufacturing organizations. But recently service industries are beginning to emerge in large numbers almost in all parts of the world including some developing countries. In this context organizations need to have strong competitive advantage over their ri...
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Comparison between Two Types of Inventory Targets under Variability of a Semiconductor Supply Chain
Kenichi Nakashima,
Thitima Sornmanapong,
Hans Ehm,
Geraldine Yachi
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
74-80
Received:
13 October 2014
Accepted:
27 October 2014
Published:
11 December 2014
Abstract: As an innovation in the semiconductor industry grows speedy, supply chain processes have not followed up. The variability in semiconductor supply chain have increased and been more complicated. These results in accurately forecast demand and set inventory target. Demand and supply are more and more stochastic and non-stationary. Inventory is one of the methods that companies are able to buffer themselves from complex and variable environment, while still being able to satisfy customer needs. We explore the variability of semiconductor industry in automotive industry. On the supply side, we evaluate variability in complexities of manufacturing process and also products are composed with multiple parts efforts to stochastic production lead-time. However in this paper, we disregard the variability arising from supply side so we assumed lead-time is fixed at 16 weeks. For demand side, the phenomenon is known as the bullwhip effect, the demand variability increases as one move up a supply chain, severely effects to semiconductor supply chain. This results the stochastic demand process is not well understood. Thus we evaluate the stochastic in demand as two aspects: 1) the dispersion of historical demand data from its mean which denoted as standard deviation of demand, 2) the difference between the actual demand and forecast data which denoted as standard deviation of forecast error. We use them as a proxy for demand variability. Then we apply the data to the base stock model. Then, we determine what each variability parameter contributes to inventory. The inventory model represents the semiconductor manufactory’s inventory with actual statistical data which provided from semiconductor company to calculate inventory target required to meet the desired customer service level.
Abstract: As an innovation in the semiconductor industry grows speedy, supply chain processes have not followed up. The variability in semiconductor supply chain have increased and been more complicated. These results in accurately forecast demand and set inventory target. Demand and supply are more and more stochastic and non-stationary. Inventory is one of...
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An Analysis of Power Supply Design in Networking Systems on the Practices of Supply Chain Management
Ramesh Chandra Rath,
Nihar Ranjan Hota,
Himanshu Shekhar Maharana,
Sunil Kumar Patel
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
81-86
Received:
6 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: Now-a-days power supply and its networking system play a first and foremost role in every aspects of human life as well as organizational life. This invited article analyzes about “An offline, three-output, 150-W forward converter is used as an example to illustrate the design process for typical isolated converters. This example emphasizes the basics with a double-ended forward topology using coupled inductors for output accuracy. Design issues and trade-off decisions to optimize power efficiency while keeping costs to a minimum are highlighted. Finally, the presentation of measured performance results confirms the design process." Electrical power is the rate of movement of electrons that create energy. As a result of the electronic age many products need electrical power to perform certain activities. Being able to manipulate electrical power comes at a cost. In today's world there is always the bottom line, cost Power supplies are the devices that can manipulate electrical power to be used in various applications. Power supplies can be expensive but there are cheaper alternative solutions that can produce the same output. A power supply includes conversion steps and has to be reliable enough not to damage what it is hooked up to. Both aspects need specific parts in a certain orientations to create those specific outputs. Throughout this note there where is much suggestion on how to create a cheap reliable power supply.
Abstract: Now-a-days power supply and its networking system play a first and foremost role in every aspects of human life as well as organizational life. This invited article analyzes about “An offline, three-output, 150-W forward converter is used as an example to illustrate the design process for typical isolated converters. This example emphasizes the bas...
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Prospect of ITESCM (Integrated Tertiary Educational Supply Chain Management) Model Based on ICT Application
Manzur H. Khan,
Md. Mamun Habib,
Bishwajit Banik Pathik,
Engku Muhammad Nazri
Issue:
Volume 3, Issue 6-1, December 2014
Pages:
87-95
Received:
6 October 2014
Accepted:
16 October 2014
Published:
11 December 2014
Abstract: This research exhibits the prospect of ITESCM (Integrated Tertiary Educational Supply Chain Management) model through ICT (Information and Communication) application. The ITESCM model was developed by Dr. Mamun Habib in 2010 for tertiary academic institutions which addresses the integrated form of supplied inputs, supplied outputs, education supply chain, research supply chain and educational management for universities [17]. Four main activities, includes education development, education assessment, research development, and research assessment in four aspects, namely Programs Establishment, University Culture, Faculty Capabilities, and Facilities were investigated at three decision levels. Model structures were defined and confirmed by 493 respondents, representing University administrators of world-ranking universities, faculty and staffs, employers, and graduates. The resulting structure was subsequently evaluated for accuracy and validity by multiple linear regression (MLR) analysis and the structural equation modeling (SEM) technique. This empirical study represents two contributions in terms of human resource contribution and research contribution to the end customer, i.e. the society. The ICT application of ITESCM model provides a novel approach for prospective investors or current administrators of the universities to review and appraise their performance with comparing other universities toward fulfillment of ultimate goals, i.e. producing high‐competent graduates and significant research outcomes for the well‐being of the society.
Abstract: This research exhibits the prospect of ITESCM (Integrated Tertiary Educational Supply Chain Management) model through ICT (Information and Communication) application. The ITESCM model was developed by Dr. Mamun Habib in 2010 for tertiary academic institutions which addresses the integrated form of supplied inputs, supplied outputs, education supply...
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