Search results for: automotive company

Authors: Qamar Iqbal

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Companies strive to improve their forecasting methods to predict the fluctuations in customer demand. These fluctuation and variation in demand affect the manufacturing operations and can limit a company’s ability to fulfill customer demand on time. Companies keep the inventory buffer and maintain the stocking levels to reduce the impact of demand variation. A mid-size company deals with thousands of stock keeping units (skus). It is neither easy and nor efficient to control and manage each sku. Inventory classification provides a tool to the management to increase their ability to support customer demand. The paper presents a framework that shows how inventory classification can play a role to increase supply chain responsiveness. A case study will be presented to further elaborate the method both for build-to-order and build-to-forecast manufacturing environments. Results will be compared that will show which manufacturing setting has advantage over another under different circumstances. The outcome of this study is very useful to the management because this will give them an insight on how inventory classification can be used to increase their ability to respond to changing customer needs.

Keywords: inventory classification, supply chain responsiveness, forecast, manufacturing environment

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Authors: Diana Flores Galindo, Richard Gil Herrera

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Nowadays, Lean Manufacturing and Industry 4.0 are very important in every country. One of the main benefits is continued market presence. It has been identified that there is a need to change existing educational programs, as well as update the knowledge and skills of existing employees. It should be borne in mind that behind each technological improvement, there is a human being. Human talent cannot be neglected. The main objectives of this article are to review the link between Lean Manufacturing, the incorporation of Industry 4.0 and the steps to follow to implement it; analyze the current situation and study the implications and benefits of this new trend, with a particular focus on Mexico. Lean Manufacturing and Industry 4.0 implementation waves must always take care of the most important capital – intellectual capital. The methodology used in this article comprised the following steps: reviewing the reality of the fourth industrial revolution, reviewing employees’ skills on the journey to become world-class, and analyzing the situation in Mexico. Lean Manufacturing and Industry 4.0 were studied not as exclusive concepts, but as complementary ones. The methodological framework used is focused on motivating companies’ collaborators to guarantee common results, innovate, and remain in the market in the face of new requirements from company stakeholders. The key findings were that both trends emphasize the need to improve communication across the entire company and incorporate new technologies into everyday work, from the shop floor to administrative staff, to help improve processes. Taking care of people, activities and processes will bring a company success. In the specific case of Mexico, companies in all sectors need to be aware of and implement technological improvements according to their specific needs. Low-cost labor represents one of the most typical barriers. In conclusion, companies must build a roadmap according to their strategy and needs to achieve their short, medium- and long-term goals.

Keywords: lean management, lean manufacturing, industry 4.0, motivation, SWOT analysis, Hoshin Kanri

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Authors: Abdel-Aziz M. Mohamed, Nermeen Coutry

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Lead time is an important measure of supply chain performance. It impacts both customer satisfactions as well as the total cost of inventory. This paper presents the result of a study on the analysis of the customer order lead-time for a multinational company. In the study, the lead time was divided into three stages: order entry, order fulfillment, and order delivery. A sample of size 2,425 order lines from the company records were considered for this study. The sample data includes information regarding customer orders from the time of order entry until order delivery. Data regarding the lead time of each sage for different orders were also provided. Summary statistics on lead time data reveals that about 30% of the orders were delivered after the scheduled due date. The result of the multiple linear regression analysis technique revealed that component type, logistics parameter, order size and the customer type have significant impact on lead time. Data analysis on the stages of lead time indicates that stage 2 consumes over 50% of the lead time. Pareto analysis was made to study the reasons for the customer order delay in each of the 3 stages. Recommendation was given to resolve the problem.

Keywords: lead time reduction, customer satisfaction, service quality, statistical analysis

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Authors: Ramona Zharfpeykan

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The concept of sustainability is generally considered as a key topic in many countries, and sustainability reporting is becoming an important tool for companies to communicate their sustainability plans and performance to their stakeholders. There have been various studies on factors that may influence sustainability reporting in companies. This study examines the possible effect of some of the organisational factors on corporate sustainability reporting. The organisational factors included in this study are a company’s type (public or private), industry, and size as well as managers’ perception of the level of importance of indicators in reporting these indicators. A survey was conducted from 240 Australian and New Zealand companies in various industries. They were asked about their perception of the importance of sustainability indicators in their performance and if they report these indicators. The GRI indicators used to develop the survey. A multiple regression model was developed using reporting strategy score as dependent and type, size, industry categorisation, and managers’ perception of the level of importance of the GRI indicators as independent factors. The results show that among all the factors included in the model, size of a company and the perception of managers of the level of importance of environmental and labour practice indicators can affect the sustainability scores of these companies.

Keywords: sustainability reporting, global reporting initiative, sustainability reporting strategy, organisational features

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Authors: Kanhaiya Singh

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Indian corporate sector has been raising resources through various international financial instruments important among them are Global depository receipts (GDRs) and American Depository Receipts (ADRs). The purpose of raising resources through such instruments is multifold such as lower cost of capital, increased visibility of the company, liberal tax environment, increased trading liquidity etc. One of the significant reason is also the value addition of the company in terms of market capitalization. Obviously, the stocks of such companies are cross listed, one in India and other at the International stock exchange. The sensitivity and movements of stock prices on one stock exchange as compared to other may have an impact on the price movement of the particular scrip. If there is any relationship exists is an issue of study. Having this in view this study is an attempt to identify the extent of impact of price movement of the scrip on one stock exchange on account of change in the prices on the counter stock exchange. Also there is an attempt to find out the difference between pre and post cross listed domestic firm. The study also analyses the impact of exchange rate movements on stock prices.

Keywords: ADR, GDR, cross listing, liquidity, exchange rate

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Authors: Rehan Ullah

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This paper explores the hypothesis that technology can be used to improve product quality, speed up delivery and reduced cost. For companies improving the quality of their products, reducing the cost and improving the speed of delivery makes them favorable to the client who feels like all their needs have been met. The research occurs between the months of January 2018 to April 2018 which is about four months. The research experiment design uses the pretest-posttest experimental design set up between two companies both using the traditional method of manufacturing with no technology. In one company technology is introduced while in the other company the process remains the same traditional method of production. Both companies analyze the results at the end of a four-month period before a conclusion is drawn from both the pretest and the final test. The experiment results show that technology improves quality of the product, improves the speed of delivery while at the same time reduce cost benefiting both the producer and the client. Technology should, therefore, be implemented in companies to give them an edge over the competition. With technology in companies, the United States can reclaim production from overseas companies that have taken over by providing cheap labor. Better satisfied customers mean more production which in turn means more jobs for the people in the United States.

Keywords: technology, quality of product, speed up delivery, cost

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Authors: Venkatesh Krishna Murthy

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The era before government-regulated automotive designs gave us some astonishing vehicles that are well worth to keep on the road. The fact that restoring an automobile in 2015 does not mean it will perform like one designed in 2021. This is one of the reasons that manufacturers continue to turn to vintage hardware for future enhancements in their vehicles. Now we need to understand that a modern chassis could possibly allow manufacturers to give vintage performance cars a level of braking capability, compatibility with tires, chassis rigidity, suspension sophistication, and steering response, an experience only racers got until now. However, half a century of advancements in engineering can have a great impact on design in any field, and the automotive realm which holds no exception. In the current situation, a growing number of companies offer chassis and braking components to onboard manufacturers to retrofit contemporary technology for their vintage vehicles to modernize them at the foundation level. The recent question arises on performance on lithium batteries, as opposed to simply bolting upgraded components, for ex. lithium batteries with graphene as superconductive material to enhance performance, an area deeply investigated. Serving as the “bones” of the vehicle, the chassis and frame play a central role in dictating how that automobile will perform. While the desire to maintain originality is alluring for many, the benefits of a modern chassis are vast. In some situations, it also allows builders to put cars back on the road that might otherwise be too far gone. “There’s a couple of different factors at play here – one of them being that these older cars from the ’40s, ’50s, and ’60s have seen a lot of weather and a lot of road miles over the years, more often than not,” says Craig Morrison of Art Morrison Enterprises.

Keywords: hybrid electric vehicles, internet of things, lithium graphene batteries, classic car chassis

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Authors: Batool Ismaeel, Umair Farooq, Saad Mushtaq

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Construction projects in the oil industry can be very complex, having unknown outcomes and uncertainties that cannot be easily predicted. Each project has its unique risks generated by a number of factors which, if not controlled, will impact the successful completion of the project mainly in terms of schedule, cost, quality, and safety. This paper highlights the historic risks associated with projects in the south and east region of Kuwait Oil Company (KOC) collated from the company’s lessons learned database. Starting from Contract Award through to handover of the project to the Asset owner, the gaps in project execution in terms of managing risk will be brought to discussion and where a well-defined systematic approach in project risk management reflecting many claims, change of scope, exceeding budget, delays in engineering phase as well as in the procurement and fabrication of long lead items should be adopted. This study focuses on a proposed feasible approach in risk management for engineering, procurement and construction (EPC) level projects including the various stakeholders involved in executing the works from International to local contractors and vendors in KOC. The proposed approach covers the areas categorized into organizational, design, procurement, construction, pre-commissioning, commissioning and project management in which the risks are identified and require management and mitigation. With the effective deployment and implementation of the proposed risk management system and the consideration of it as a vital key in achieving the project’s target, the outcomes will be more predictable in the future, and the risk triggers will be managed and controlled. The correct resources can be allocated on a timely basis for the company for avoiding any unpredictable outcomes during the execution of the project. It is recommended in this paper to apply this risk management approach as an integral part of project management and investigate further in the future, the effectiveness of this proposed system for newly awarded projects and compare the same with those projects of similar budget/complexity that have not applied this approach to risk management.

Keywords: construction, project completion, risk management, uncertainties

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Authors: A. Rahim Baharudin, Nor Arinee binti Mat Saaud, Muhammad Afiq Azman, Farah Adiba A. Sani

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Objectives: This paper shares the case study on the engineering analysis, data analysis, and real-time data comparison for qualifying the stand wires' minimum breaking load and safe working load upon loadout operation for a new project and, at the same time, eliminate the risk due to discrepancies and unalignment of COMPANY Technical Standards to Industry Standards and Practices. This paper demonstrates “Lean Construction” for COMPANY’s Project by sustaining fit-for-purpose Technical Requirements of Loadout Strand Wire Factor of Safety (F.S). The case study utilizes historical engineering data from a few loadout operations by skidding methods from different projects. It is also demonstrating and qualifying the skidding wires' minimum breaking load and safe working load used for loadout operation for substructure and other facilities for the future. Methods: Engineering analysis and comparison of data were taken as referred to the international standard and internal COMPANY standard requirements. Data was taken from nine (9) previous projects for both topsides and jacket facilities executed at the several local fabrication yards where load out was conducted by three (3) different service providers with emphasis on four (4) basic elements: i) Industry Standards for Loadout Engineering and Operation Reference: COMPANY internal standard was referred to superseded documents of DNV-OS-H201 and DNV/GL 0013/ND. DNV/GL 0013/ND and DNVGL-ST-N001 do not mention any requirements of Strand Wire F.S of 4.0 for Skidding / Pulling Operations. ii) Reference to past Loadout Engineering and Execution Package: Reference was made to projects delivered by three (3) major offshore facilities operators. Strand Wire F.S observed ranges from 2.0 MBL (Min) to 2.5 MBL (Max). No Loadout Operation using the requirements of 4.0 MBL was sighted from the reference. iii) Strand Jack Equipment Manufacturer Datasheet Reference: Referring to Strand Jack Equipment Manufactured Datasheet by different loadout service providers, it is shown that the Designed F.S for the equipment is also ranging between 2.0 ~ 2.5. Eight (8) Strand Jack Datasheet Model was referred to, ranging from 15 Mt to 850 Mt Capacity; however, there are NO observations of designed F.S 4.0 sighted. iv) Site Monitoring on Actual Loadout Data and Parameter: Max Load on Strand Wire was captured during 2nd Breakout, which is during Static Condition of 12.9 MT / Strand Wire (67.9% Utilization). Max Load on Strand Wire for Dynamic Conditions during Step 8 and Step 12 is 9.4 Mt / Strand Wire (49.5% Utilization). Conclusion: This analysis and study demonstrated the adequacy of strand wires supplied by the service provider were technically sufficient in terms of strength, and via engineering analysis conducted, the minimum breaking load and safe working load utilized and calculated for the projects were satisfied and operated safely for the projects. It is recommended from this study that COMPANY’s technical requirements are to be revised for future projects’ utilization.

Keywords: construction, load out, minimum breaking load, safe working load, strand jacking, skidding

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Authors: Dennis Kreutzer, Sarah Müller-Abdelrazeq, Ingrid Isenhardt

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Resource scarcity, energy transition and the planned climate neutrality pose enormous challenges for manufacturing companies. In order to achieve these goals and a holistic sustainable development, the European Union has listed the circular economy as part of the Circular Economy Action Plan. In addition to a reduction in resource consumption, reduced emissions of greenhouse gases and a reduced volume of waste, the principles of the circular economy also offer enormous economic potential for companies, such as the generation of new circular business models. However, many manufacturing companies, especially small and medium-sized enterprises, do not have the necessary capacity to plan their transformation. They need support and strategies on the path to circular transformation, because this change affects not only production but also the entire company. Maturity models offer an approach, as they enable companies to determine the current status of their transformation processes. In addition, companies can use the models to identify transformation strategies and thus promote the transformation process. While maturity models are established in other areas, e.g. IT or project management, only a few circular economy maturity models can be found in the scientific literature. The aim of this paper is to analyse the identified maturity models of the circular economy through a systematic literature review (SLR) and, besides other aspects, to check their completeness as well as their quality. Since the terms "maturity model" and "readiness model" are often used to assess the transformation process, this paper considers both types of models to provide a more comprehensive result. For this purpose, circular economy maturity models at the company (micro) level were identified from the literature, compared, and analysed with regard to their theoretical and methodological structure. A specific focus was placed, on the one hand, on the analysis of the business units considered in the respective models and, on the other hand, on the underlying metrics and indicators in order to determine the individual maturity level of the entire company. The results of the literature review show, for instance, a significant difference in the holism of their assessment framework. Only a few models include the entire company with supporting areas outside the value-creating core process, e.g. strategy and vision. Additionally, there are large differences in the number and type of indicators as well as their metrics. For example, most models often use subjective indicators and very few objective indicators in their surveys. It was also found that there are rarely well-founded thresholds between the levels. Based on the generated results, concrete ideas and proposals for a research agenda in the field of circular economy maturity models are made.

Keywords: maturity model, circular economy, transformation, metric, assessment

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Authors: Tengku Ezni Balqiah, Fanny Martdianty, Rifelly Dewi Astuti, Mutia Nurazizah Rachmawati

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The Corona Disease 2019 (COVID-19) pandemic has changed the world considerably and has disrupted businesses and people’s lives globally. In response to the pandemic, businesses have seen increased demand for corporate social responsibility (CSR). Businesses can increase their investments in CSR initiatives during the pandemic through various actions. This study examines how the various motives of philanthropy CSR influence perceived quality of life, company image, and advocacy. This study employed surveys of 719 respondents from seven provinces in Indonesia that had the highest number of COVID-19 cases in the country. A structural equation model was used to test the hypothesis. The results showed that value and strategic motives positively influenced the perceived quality of life and corporate image, while the egoistic motive was negatively associated with both the perceived quality of life and the image of the company. The study also suggested that advocacy was strongly related to the perceived quality of life instead of a corporate image. The results indicate that, during a pandemic, both public- (i.e. value) and firm-serving (i.e. strategic) motives can have the same impact as long as people perceive that the businesses are sincere.

Keywords: advocacy, COVID 19, CSR motive, Indonesia, quality of life

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Authors: Nikolay P. Brayanov, Anna V. Stoynova

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Model-based development approach is gaining more support and acceptance. Its higher abstraction level brings simplification of systems’ description that allows domain experts to do their best without particular knowledge in programming. The different levels of simulation support the rapid prototyping, verifying and validating the product even before it exists physically. Nowadays model-based approach is beneficial for modelling of complex embedded systems as well as a generation of code for many different hardware platforms. Moreover, it is possible to be applied in safety-relevant industries like automotive, which brings extra automation of the expensive device certification process and especially in the software qualification. Using it, some companies report about cost savings and quality improvements, but there are others claiming no major changes or even about cost increases. This publication demonstrates the level of maturity and autonomy of model-based approach for code generation. It is based on a real live automotive seat heater (ASH) module, developed using The Mathworks, Inc. tools. The model, created with Simulink, Stateflow and Matlab is used for automatic generation of C code with Embedded Coder. To prove the maturity of the process, Code generation advisor is used for automatic configuration. All additional configuration parameters are set to auto, when applicable, leaving the generation process to function autonomously. As a result of the investigation, the publication compares the quality of generated embedded code and a manually developed one. The measurements show that generally, the code generated by automatic approach is not worse than the manual one. A deeper analysis of the technical parameters enumerates the disadvantages, part of them identified as topics for our future work.

Keywords: embedded code generation, embedded C code quality, embedded systems, model-based development

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Authors: Zeynep Şahin, Züleyha Yılmaz, Fikret Çankaya

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In today's business world, in which it is difficult to survive, the economic life of products, services or knowledge is considerably reduced. Competitors produce similar products or extra-featured ones instantly. In this environment, the contribution of companies to the social and economic environment is a preferred criterion by consumers alongside products or services. Therefore, consumers need to obtain more detailed information about companies. Besides, this drastic change in the market encourages companies to become sustainable. Sustainable business means the company puts consumed products back. Corporate sustainability, corresponds to sustainability at the level of the company, and gives equal importance to company growth and profitability together with environmental and social issues. The BIST Sustainability Index started to be calculated by the Istanbul Stock Exchange (BIST) in 2014 to evaluate the sustainability performance of companies in Turkey. The main objective of this study is to present the importance of sustainability reports in Turkey. To this aim, the performances of 15 companies in the BIST Sustainability Index were compared the periods before and after entering the index. On the other hand, sustainability reporting practices should be encouraged to increase studies on this issue. In this context, to remain on the agenda of the issue is a further objective of this study. To achieve these objectives, the financial data of the companies in the period before and after entering to the BIST Sustainability Index were analyzed using t-test in Statistical Package for the Social Sciences (SPSS) package. The results of the study showed that no significant difference between the performances of the companies in terms of the net profit margin, the return on assets and equity capital in these periods could be found. Therefore, it can be said that insufficient importance is given to sustainability issues in Turkey. The reasons for this situation might be considered as a lack of awareness due to the recent introduction and calculation of the index. It is expected that the awareness of firms and investors about sustainability will increase, and that they will demonstrate the necessary importance to this issue over time.

Keywords: sustainability reporting, sustainability index, firm performance, BIST sustainability index

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Authors: Mahfoud Djebbar

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Stock dilution is a financial phenomenon resulting from the issue of additional shares by a company, or when holders convert their convertibles into new shares (capital increase). This issue and/or conversion enlarge the company’s share base that will result in marginal dilution (loss) for existing shareholders, and a benefit to new ones. Dilution issues have already been addressed in mainstream finance, particularly as far as information disclosure is concerned. However, in Islamic finance, stock dilution problems have not been deeply studied and the subject has not received sufficient attention from shariah-compatible firms, investors, and scholars. In this regard, this paper emphasises the forms, the effects of capital dilution on current shareholders as well as the ways and techniques of compensating them. And since the research in this field, in its Islamic perspective, is still in its infancy, the paper tries to analyse the phenomenon theoretically in detail using numerical examples, and expose some case studies of Shariah-compliant issuers of convertible Sukuk and how they compensate their existing shareholders. Finally, this study shows that the Sukuk issuers compensate old shareholders using the right of shuf’ah as a well known and practiced pre-emptive right in Islamic transactions centuries ago, as well as the ways conventional bond issuers use.

Keywords: compensating shareholders, convertible Sukuk, Islamic financial innovation, Shuf’ah

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Authors: Haikal Achmad Thaha, Pujo Laksono, Dhamma Nibbana Putra

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Customer service is one of the core interest in a service sector of a company, whether as the core business or as service part of the operation. Most of the time, the people and the previous research in service industry is focused on finding the best business model solution for the service sector, usually to decide between total in house customer service, outsourcing, or something in between. Conventionally, to take this decision is some important part of the management job, and this is a process that usually takes some time and staff effort, meanwhile market condition and overall company needs may change and cause loss of income and temporary disturbance in the companies operation . However, in this paper we have offer a new concept model to assist decision making process in service industry. This model will featured information platform as central tool to integrate service industry operation. The result is service information model which would ideally increase response time and effectivity of the decision making. it will also help service industry in switching the service solution system quickly through machine learning when the companies growth and the service solution needed are changing.

Keywords: service industry, customer service, machine learning, decision making, information platform

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Authors: A. P. Puvanasvaran, Suresh A. L. Vasu, N. Norazlin

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The Lean Environmental Management Integration System (LEMIS) framework development is integration between lean core element and ISO 14001. The curiosity on the relationship between continuous improvement and sustainability of lean implementation has influenced this study toward LEMIS. Characteristic of ISO 14001 standard clauses and core elements of lean principles are explored from past studies and literature reviews. Survey was carried out on ISO 14001 certified companies to examine continual improvement by implementing the ISO 14001 standard. The study found that there is a significant and positive relationship between Lean Principles: value, value stream, flow, pull and perfection with the ISO 14001 requirements. LEMIS is significant to support the continuous improvement and sustainability. The integration system can be implemented to any manufacturing company. It gives awareness on the importance on why organizations need to sustain its Environmental management system. At the meanwhile, the lean principle can be adapted in order to streamline daily activities of the company. Throughout the study, it had proven that there is no sacrifice or trade-off between lean principles with ISO 14001 requirements. The framework developed in the study can be further simplified in the future, especially the method of crossing each sub requirements of ISO 14001 standard with the core elements of Lean principles in this study.

Keywords: LEMIS, ISO 14001, integration, framework

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Authors: Bita Mashayekhi, Seyed Meisam Tabatabaie Nasab

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Intellectual capital is one of the most valuable and important parts of the intangible assets of enterprises especially in knowledge-based enterprises. With respect to increasing gap between the market value and the book value of the companies, intellectual capital is one of the components that can be placed in this gap. This paper uses the value added efficiency of the three components, capital employed, human capital and structural capital, to measure the intellectual capital efficiency of Iranian industries groups, listed in the Tehran Stock Exchange (TSE), using a 8 years period data set from 2005 to 2012. In order to analyze the effect of intellectual capital on the market-to-book value ratio of the companies, the data set was divided into 10 industries, Banking, Pharmaceutical, Metals & Mineral Nonmetallic, Food, Computer, Building, Investments, Chemical, Cement and Automotive, and the panel data method was applied to estimating pooled OLS. The results exhibited that value added of capital employed has a positive significant relation with increasing market value in the industries, Banking, Metals & Mineral Nonmetallic, Food, Computer, Chemical and Cement, and also, showed that value added efficiency of structural capital has a positive significant relation with increasing market value in the Banking, Pharmaceutical and Computer industries groups. The results of the value added showed a negative relation with the Banking and Pharmaceutical industries groups and a positive relation with computer and Automotive industries groups. Among the studied industries, computer industry has placed the widest gap between the market value and book value in its intellectual capital.

Keywords: capital employed, human capital, intellectual capital, market-to-book value, structural capital, value added efficiency

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Authors: Kristine Demilou Santiago

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In a context of a developing nation, how important is the role of Corporate Social Responsibility health programs? Is there a possibility that this will render a large impact in a society where health benefits are insufficient? The Philippine government has been in an unceasing battle to provide its citizens competitive health benefits through launching various health programs. As the efforts are being claimed by the government, the numbers just show that all the health benefits being offered such as PhilHealth health cards, medical missions and other subsidized government health benefits are not effective and sufficient at the minimum level. This is a major characteristic of a developing nation which the Philippine government is focusing on addressing as it becomes a national concern under the effects of poverty. Industrial companies, through Corporate Social Responsibility, are playing an important role in the aspiration to resolve this problem on health programs as supposed to be basic services to citizens of the Philippine government. The rise of commitment by these industrial companies to render health programs to communities as part of their corporate citizenship has covered a large portion of the basic health services that the Filipino citizens are supposed to be receiving. This is the most salient subject that a developing nation should focus on determining the important contribution of industrial companies present in their country as part of the citizens’ access to basic health services. The use of survey forms containing quantitative and qualitative questions which aim to give numerical figures and support answers as to the role of CSR Health programs in helping the communities receive the basic health services they need was the methodological procedure followed in this research. A sample population in a community where the largest industrial company in a province of the Philippines was taken through simple random sampling. The assumption is that this sample population which represents the whole of the community has the highest opportunities to access both the government health services and the CSR health program services of the industrial company located in their community. Results of the research have shown a significant level of participation by industrial companies through their CSR health programs in the attainment of basic health services that should be rendered by the Philippine government to its citizens as part of the state’s health benefits. In a context of a developing nation such as the Philippines, the role of Corporate Social Responsibility is beyond the expectation of initiating to resolve environmental and social issues. It is moving deeper in the concept of the corporate industries being a pillar of the government in catering the support needed by the individuals in the community for its development. As such, the concept of the presence of an industrial company in a community is said to be a parallel progress: by which when an industrial company expands because it is becoming more profitable, so is the community gaining the same step of progress in terms of socioeconomic development.

Keywords: basic health services, CSR health program, health services in a developing nation, Philippines health benefits

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Authors: Agnieszka P. Regiec

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Capital companies are based on monetary capital. In the traditional model, the capital is the sum of the nominal values of all shares issued. For a few years within the European countries, the limited liability companies’ (LLC) regulations are leaning towards liberalization of the capital structure in order to provide higher degree of autonomy regarding the intra-corporate governance. Reforms were based primarily on the legal system of the USA. In the USA, the tradition of no-par shares is well-established. Thus, as a point of reference, the American legal system is being chosen. Regulations of Germany, Great Britain, France, Netherlands, Finland, Poland and the USA will be taken into consideration. The analysis of the share capital is important for the development of science not only because the capital structure of the corporation has significant impact on the shareholders’ rights, but also it reflects on relationships between creditors of the company and the company itself. Multi-level comparative approach towards the problem will allow to present a wide range of the possible outcomes stemming from the novelization. The dogmatic method was applied. The analysis was based on the statutes, secondary sources and judicial awards. Both the substantive and the procedural aspects of the capital structure were considered. In Germany, as a result of the regulatory competition, typical for the EU, the structure of LLCs was reshaped. New LLC – Unternehmergesellschaft, which does not require a minimum share capital, was introduced. The minimum share capital for Gesellschaft mit beschrankter Haftung was lowered from 25 000 to 10 000 euro. In France the capital structure of corporations was also altered. In 2003, the minimum share capital of société à responsabilité limitée (S.A.R.L.) was repealed. In 2009, the minimum share capital of société par actions simplifiée – in the “simple” version of S.A.R.L. was also changed – there is no minimum share capital required by a statute. The company has to, however, indicate a share capital without the legislator imposing the minimum value of said capital. In Netherlands the reform of the Besloten Vennootschap met beperkte aansprakelijkheid (B.V.) was planned with the following change: repeal of the minimum share capital as the answer to the need for higher degree of autonomy for shareholders. It, however, preserved shares with nominal value. In Finland the novelization of yksityinen osakeyhtiö took place in 2006 and as a result the no-par shares were introduced. Despite the fact that the statute allows shares without face value, it still requires the minimum share capital in the amount of 2 500 euro. In Poland the proposal for the restructuration of the capital structure of the LLC has been introduced. The proposal provides among others: devaluation of the capital to 1 PLN or complete liquidation of the minimum share capital, allowing the no-par shares to be issued. In conclusion: American solutions, in particular, balance sheet test and solvency test provide better protection for creditors; European no-par shares are not the same as American and the existence of share capital in Poland is crucial.

Keywords: balance sheet test, limited liability company, nominal value of shares, no-par shares, share capital, solvency test

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Authors: Ljubica Milanović Glavan, Vesna Bosilj Vukšić, Dalia Suša

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In order to gain a competitive advantage, many companies are focusing on reorganization of their business processes and implementing process-based management. In this context, assessing process performance is essential because it enables individuals and groups to assess where they stand in comparison to their competitors. In this paper, it is argued that process performance measurement is a necessity for a modern process-oriented company and it should be supported by a holistic process performance measurement system. It seems very unlikely that a universal set of performance indicators can be applied successfully to all business processes. Thus, performance indicators must be process-specific and have to be derived from both the strategic enterprise-wide goals and the process goals. Based on the extensive literature review and interviews conducted in Croatian company a conceptual framework for process performance measurement system was developed. The main objective of such system is to help process managers by providing comprehensive and timely information on the performance of business processes. This information can be used to communicate goals and current performance of a business process directly to the process team, to improve resource allocation and process output regarding quantity and quality, to give early warning signals, to make a diagnosis of the weaknesses of a business process, to decide whether corrective actions are needed and to assess the impact of actions taken.

Keywords: Croatia, key performance indicators, performance measurement, process performance

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Authors: Ali Akber Jaffri, Asad Naseem, Javeria Khan

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The purpose of this study is to determine safety stock, maximum inventory level, reordering point, and reordering quantity by rearranging lot sizes for supplier and customer in MRO (maintenance repair operations) warehouse of Engro Polymers & Chemicals. To achieve the aim, physical analysis method and excel commands were carried out to elicit the customer and supplier data provided by the company. Initially, we rearranged the current lot sizes and MOUs (measure of units) in SAP software. Due to change in lot sizes we have to determine the new quantities for safety stock, maximum inventory, reordering point and reordering quantity as per company's demand. By proposed system, we saved extra cost in terms of reducing the time of receiving from vendor and in issuance to customer, ease of material handling in MRO warehouse and also reduce human efforts. The information requirements identified in this study can be utilized in calculating Economic Order Quantity.

Keywords: carrying cost, economic order quantity, fast moving, lead time, lot size, MRO, maximum inventory, ordering cost, physical inspection, reorder point

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Authors: Chikae Isobe, Toshihiko Souma, Yoshiya Furukawa

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In Japan, an organization is sometimes asked for responsibility and apology toward the organization for the annoying behavior of employees, even though the behavior is not relevant to the organization. Our studies have repeatedly shown that it is important for organizational evaluation to organization propose compensatory behavior for such annoying behavior, even though the behavior is not relevant to the organization. In this study, it was examined how such an organizational response (apology) was likely to evaluate by members of the organization who were not related to the annoying behavior. Three independent variables were manipulated that is organization emotion (guilt and shame), compensation (proposal or not), and the relation between organization and the annoying behavior (relate or not). And the effects of organizational identity (high and low) were also examined. We conducted an online survey for 240 participants through a crowdsourcing company. Participants were asked to imagine a situation in which an incident in which some people in your company did not return an important document that they borrowed privately (vs. at work) became the topic of discussion, and the company responded. For the analysis,189 data (111 males and 78 females, mean age = 40.6) were selected. The results of ANOVA of 2 by2 on organizational appraisal, perceived organizational responsibility, and so on were conducted. Organization appraisal by members was also higher when the organization proposed compensatory behavior. In addition, when the annoying behavior was related to their work (than no related), for those who were high in organization identity (than low), organization appraisal was high. The interaction between relatedness and organizational identity was significant. Differences in relatedness between the organization and annoying behavior were significant in those with low organizational identity but not in those with high organizational identity. When the organization stated not taking compensatory action, members were more likely to perceive the organization as responsible for the annoying behavior. However, the interaction results indicated this tendency was limited to when the annoying behavior was not related to the organization. Furthermore, it tended to be perceived as responsible for the organization when the organization made a statement that felt shame for the annoying behavior not related to the organization and would compensate for the annoying behavior. These results indicate that even members of the organization do not consider the organization's compensatory actions to be unjustified. In addition, because those with high organizational identity perceived the organization to be responsible when it showed strong remorse (shame and compensation), they would be a tendency to make judgments that are consistent with organizational judgments. It would be considered that the Japanese have the norm that even if the organization is not at fault for a member's disruptive behavior, it should respond to it.

Keywords: appraisal for organization, annoying behavior, group shame and guilt, compensation, organizational apologies

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Authors: Wai Ho Darrell Kwok

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Building entities are valuable assets of a society, however, all of them are suffered from the ravages of weather and time. Facilitating onerous maintenance activities is the only way to either maintain or enhance the value and contemporary standard of the premises. By the way, maintenance budget is always bounded by the corresponding threshold limit. In order to optimize the limited resources allocation in carrying out maintenance, there is a substantial need to prioritize maintenance work. This paper reveals the application of Fuzzy AHP in a Facilities Management Company determining the maintenance priorities on the basis of predetermined criteria, viz., Building Status (BS), Effects on Fabrics (EF), Effects on Sustainability (ES), Effects on Users (EU), Importance of Usage (IU) and Physical Condition (PC) in dealing with categorized 8 predominant building components maintenance aspects for building premises. From the case study, it is found that ‘building exterior repainting or re-tiling’, ‘spalling concrete repair works among exterior area’ and ‘lobby renovation’ are the top three maintenance priorities from facilities manager and maintenance expertise personnel. Through the application of the Fuzzy AHP for maintenance priorities decision algorithm, a more systemic and easier comparing scalar linearity factors being explored even in considering other multiple criteria decision scenarios of building maintenance issue.

Keywords: building maintenance, fuzzy AHP, maintenance priority, multi-criteria decision making

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Authors: Guo Yan

Abstract:

Clothing recycling bin is a traditional way to collect textile waste in many areas. In the clothing recycling business, the transportation cost normally takes over 50% of total costs. This case gives a good way to reduce transportation cost by reverse logistics system. In this reverse logistics system, there are offline strategic alliance partners, such as transport firms, convenience stores, laundries, and post office which are integrated onto the mobile APP. Offline strategic alliance partners provide the service of textile waste collection, and transportation by their vacant vehicles return journey from convenience stores, laundries and post offices to sorting centers. The results of the case study provide the strategic alliance with a valuable and light - asset business model by using the logistics of offline memberships. The company in this case just focuses on textile waste sorting, reuse, recycling etc. The research method of this paper is a case study of a clothing recycling company in Chengdu by field research and interview; the analysis is based on the theory of the reverse logistics system.

Keywords: closed-loop recycles system, clothing recycling, end-of-life clothing, sharing economy, strategic alliance, reverse logistics.

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Authors: Danah Al-Selahi, Sulaiman Al-Ghunaim, Bashayer Sadiq, Fatma Al-Otaibi, Ali Ameen

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In light of recent changes affecting the Oil & Gas Industry, optimization measures have become imperative for all companies globally, including Kuwait Oil Company (KOC). To keep abreast of the dynamic market, a detailed Integrated Asset Plan (IAP) was developed to drive optimization across the organization, which was facilitated through the in-house developed software “Well Inventory Data Entry” (WIDE). This comprehensive and integrated approach enabled centralization of all planned asset components for better well planning, enhancement of performance, and to facilitate continuous improvement through performance tracking and midterm forecasting. Traditionally, this was hard to achieve as, in the past, various legacy methods were used. This paper briefly describes the methods successfully adopted to meet the company’s objective. IAPs were initially designed using computerized spreadsheets. However, as data captured became more complex and the number of stakeholders requiring and updating this information grew, the need to automate the conventional spreadsheets became apparent. WIDE, existing in other aspects of the company (namely, the Workover Optimization project), was utilized to meet the dynamic requirements of the IAP cycle. With the growth of extensive features to enhance the planning process, the tool evolved into a centralized data-hub for all asset-groups and technical support functions to analyze and infer from, leading WIDE to become the reference two-year operational plan for the entire company. To achieve WIDE’s goal of operational efficiency, asset-groups continuously add their parameters in a series of predefined workflows that enable the creation of a structured process which allows risk factors to be flagged and helps mitigation of the same. This tool dictates assigned responsibilities for all stakeholders in a method that enables continuous updates for daily performance measures and operational use. The reliable availability of WIDE, combined with its user-friendliness and easy accessibility, created a platform of cross-functionality amongst all asset-groups and technical support groups to update contents of their respective planning parameters. The home-grown entity was implemented across the entire company and tailored to feed in internal processes of several stakeholders across the company. Furthermore, the implementation of change management and root cause analysis techniques captured the dysfunctionality of previous plans, which in turn resulted in the improvement of already existing mechanisms of planning within the IAP. The detailed elucidation of the 2 year plan flagged any upcoming risks and shortfalls foreseen in the plan. All results were translated into a series of developments that propelled the tool’s capabilities beyond planning and into operations (such as Asset Production Forecasts, setting KPIs, and estimating operational needs). This process exemplifies the ability and reach of applying advanced development techniques to seamlessly integrated the planning parameters of various assets and technical support groups. These techniques enables the enhancement of integrating planning data workflows that ultimately lay the founding plans towards an epoch of accuracy and reliability. As such, benchmarks of establishing a set of standard goals are created to ensure the constant improvement of the efficiency of the entire planning and operational structure.

Keywords: automation, integration, value, communication

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Authors: Fayaz Moosavi, Saeid Moradyfard

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One of the methods in avoiding management fraud and increasing the quality of financial information, is the notification of qualitative features of financial information, including conservatism characteristic. Although taking a conservatism approach, while boosting the quality of financial information, is able to reduce the informational risk and the cost of capital stock of commercial department, by presenting an improper image about the situation of the commercial department, raises the risk of failure in returning the main and capital interest, and consequently the cost of capital of the commercial department. In order to know if conservatism finally leads to the increase or decrease of the cost of capital or does not have any influence on it, information regarding accepted companies in Tehran stock exchange is utilized by application of pooling method from 2007 to 2012 and it included 124 companies. The results of the study revealed that there is an opposite and meaningful relationship between conditional conservatism and the cost of capital of the company. In other words, if bad and unsuitable news and signs are reflected sooner than good news in accounting profit, the cost of capital of the company increases. In addition, there is a positive and meaningful relationship between the cost of capital and lack of information asymmetry.

Keywords: conditional conservatism, lack of information asymmetry, the cost of capital, stock exchange

Procedia PDF Downloads 265

Authors: Asmaa Abazaid, Maram Al-Ostah, Nadeen Abu-Zahra, Ruba Bawab, Refaat Abdel-Razek

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Innovation audit is defined as a tool that can be used to reflect on how the innovation is managed in an organization. The aim of this study is to audit innovation in the second top Engineering Firms in the world, and one of the Small Medium Enterprises (SMEs) companies that are working in United Arab Emirates (UAE). The obtained results are then compared with four international companies from China and Brazil. The Diamond model has been used for auditing innovation in the two companies in UAE to evaluate their innovation management and to identify each company’s strengths and weaknesses from an innovation perspective. The results of the comparison between the two companies (Jacobs and Hyper General Contracting) revealed that Jacobs has support for innovation, its innovation processes are well managed, the company is committed to the development of its employees worldwide and the innovation system is flexible. Jacobs was doing best in all innovation management dimensions: strategy, process, organization, linkages and learning, while Hyper General Contracting did not score as Jacobs in any of the innovation dimensions. Furthermore, the audit results of both companies were compared with international companies to examine how well the two construction companies in UAE manage innovation relative to SABIC (Saudi company), Poly Easy and Arnious (Brazilian companies), Huagong tools and Guizohou Yibai (Chinese companies). The results revealed that Jacobs is doing best in learning and organization dimensions, while PolyEasy and Jacobs are equal in the linkage dimension. Huagong Tools scored the highest score in process dimension among all the compared companies. However, the highest score of strategy dimension was given to PolyEasy. On the other hand, Hyper General Contracting scored the lowest in all of the innovation management dimensions. It needs to improve its management of all the innovation management dimensions with special attention to be given to strategy, process, and linkage as they got scores below 4 out of 7 comparing with other dimensions. Jacobs scored the highest in three innovation management dimensions related to the six companies. However, the strategy dimension is considered low, and special attention is needed in this dimension.

Keywords: Brazil, China, innovation audit, innovation evaluation, innovation management, Saudi Arabia, United Arab Emirates

Procedia PDF Downloads 285

Authors: Angga Hidayah Ramadhan, Luciana Andrawina, M. Azani Hasibuan

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Data will be as a core of the decision if it has a good treatment or process, which is process that data into information, and information into knowledge to make a wisdom or decision. Today, many companies have not realize it include XYZ University Admission Directorate as executor of National Admission called Seleksi Masuk Bersama (SMB) that during the time, the workers only uses their feeling to make a decision. Whereas if it done, then that company can analyze the data to make a right decision to get a pin sales from student candidate or registrant that follow SMB as many as possible. Therefore, needs Knowledge Management System (KMS) with Geographic Information System (GIS) use 5C4C that can process that company data becomes more useful and can help make decisions. This information system can process data into information based on the pin sold data with 5C (Contextualized, Categorize, Calculation, Correction, Condensed) and convert information into knowledge with 4C (Comparing, Consequence, Connection, Conversation) that has been several steps until these data can be useful to make easier to take a decision or wisdom, resolve problems, communicate, and quicker to learn to the employees have not experience and also for ease of viewing/visualization based on spatial data that equipped with GIS functionality that can be used to indicate events in each province with indicator that facilitate in this system. The system also have a function to save the tacit on the system then to be proceed into explicit in expert system based on the problems that will be found from the consequences of information. With the system each team can make a decision with same ways, structured, and the important is based on the actual event/data.

Keywords: 5C4C, data, information, knowledge

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Authors: Salwana Hassan, Rashidah Abdul Rahman

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Poverty in rural Malaysia remains unresolved and contribute 7.8% to the whole poverty figure in Malaysia. Among the rural folks, 50% is women. Thus, women, as the significant human capital to fight the long lost battle of poverty , is indispensable. This will also serve as an equal opportunity for women to play active and positive roles to develop the society that has been the tasks for men all this while. More importantly rural women folks have the potential to offer better quality of life for their family by providing extra income and monetary support whenever their husbands are not able to work. The reality in this, however, cannot be solved easily as there are many factors that stand in the way and prevent the resolutions to be observed.In this regard, this paper describes a model that has been used to resolve such issues in rural Malaysia. The model utilizes a synergetic effort between an academic institution, an NGO that govern the rural women folks and a private trading company that sell the finished product. The project was conducted in rural area of Selangor and has been in operations since the end of 2013. It shows positive outcome and could be used in other rural areas of Malaysia. The project captures the influence of the NGO programs upon rural women entrepreneurship and how a private trading company can facilitate to help develop a community. As a result the project reveals that self-income generating activities by entrepreneurship are the important contributing factor to empowering rural women folks in Malaysia.

Keywords: poverty, empowerment, rural, entrepreneurship, community

Procedia PDF Downloads 393

Authors: Redha M. Elhuni

Abstract:

This paper presents an analysis of the essential characteristics of the TQM philosophy by comparing the work of five notable authors in the field. A framework is produced which gather the identified TQM enablers under the well-known operations management dimensions of process, business and people. These enablers are linked with sustainable development via balance scorecard type economic and non-economic measures. In order to capture a picture of Libyan Company’s efforts to implement the TQM, a questionnaire survey is designed and implemented. Results of the survey are presented showing the main differentiating factors between the sample companies, and a way of assessing the difference between the theoretical underpinning and the practitioners’ undertakings. Survey results indicate that companies are experiencing much difficulty in translating TQM theory into practice. Only a few companies have successfully adopted a holistic approach to TQM philosophy, and most of these put relatively high emphasis on hard elements compared with soft issues of TQM. However, where companies can realize the economic outputs, non- economic benefits such as workflow management, skills development and team learning are not realized. In addition, overall, non-economic measures have secured low weightings compared with the economic measures. We believe that the framework presented in this paper can help a company to concentrate its TQM implementation efforts in terms of process, system and people management dimensions.

Keywords: TQM, balance scorecard, EFQM excellence model, oil sector, Libya

Procedia PDF Downloads 405