Search results for: diversified supply options

Authors: Ando Leppiman, Kati Kõrbe Kaare, Ott Koppel

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The growing demand for gas has rekindled a debate on gas security of supply due to supply interruptions, increasing gas prices, transportation and distribution bottlenecks and a growing reliance on imports over longer distances. Security of supply is defined mostly as an infrastructure package to satisfy N-1 criteria. In case of Estonia, Finland, Latvia, and Lithuania all the gas infrastructure is built to supply natural gas only from one single supplier, Russia. In 2012, almost 100% of natural gas to the Eastern Baltic Region was supplied by Gazprom. under such circumstances infrastructure N-1 criteria does not guarantee security of supply. In the Eastern Baltic Region, the assessment of risk of gas supply disruption has been worked out by applying the method of risk scenarios. There are various risks to be tackled in Eastern Baltic States in terms of improving security of supply, such as single supplier risk, physical infrastructure risk, regulatory gap, fair price, and competition. The objective of this paper is to evaluate the energy security of the Eastern Baltic Region within the framework of the European Union’s policies and to make recommendations on how to better guarantee the energy security of the region.

Keywords: security of supply, supply routes for natural gas, energy balance, diversified supply options, common regulative package

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Authors: Mohsen Akhlaghi, Tahereh Ebrahimi

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Considering the increasing demand for water and limited resources, there is a possibility of a water crisis in the not-so-distant future. Therefore, to prevent this crisis, other options for drinking water supply should be examined. In this regard, the application of multi-criteria decision-making methods in various aspects of water resource management and planning has always been of great interest to researchers. In this report, six options for supplying drinking water to Tehran City were considered. Then, experts' opinions were collected through matrices and questionnaires, and using the TOPSIS method, which is one of the types of multi-criteria decision-making methods, they were calculated and analyzed. In the TOPSIS method, the options were ranked by calculating their proximity to the ideal (Ci). The closer the numerical value of Ci is to one, the more desirable the option is. Based on this, the option with the optimization pattern of water consumption, with Ci = 0.9787, is the best option among the proposed options for supplying drinking water to Tehran City. The other options, in order of priority, are rainwater harvesting, wastewater reuse, increasing current water supply sources, desalination and its transfer, and transferring water from freshwater sources between basins. In conclusion, the findings of this study highlight the importance of exploring alternative drinking water supply options and utilizing multi-criteria decision-making approaches to address the potential water crisis.

Keywords: multi-criteria decision, sustainable development, topsis, water supply

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Authors: Abdul Halim Abdul Razik, Ali Elkamel, Leonardo Simon

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Wheat straw is one of the alternative feedstocks that may be utilized for bioethanol production especially when sustainability criteria are the major concerns. To increase market competitiveness, optimal supply chain plays an important role since wheat straw is a seasonal agricultural residue. In designing the supply chain optimization model, economic profitability of the thermochemical and biochemical conversion routes options were considered. It was found that torrefied pelletization with gasification route to be the most profitable option to produce bioethanol from the lignocellulosic source of wheat straw.

Keywords: bio-ethanol, optimization, supply chain, wheat straw

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Authors: Mehmet Şimşek

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In the rapidly changing market conditions, it is getting harder to survive without adapting new abilities. Technology and globalization have enabled foreign producers to enter into national markets, even local ones. For this reason there is now big competition among production companies for market share. Furthermore, competition has provided customer with broad range of options to choose from. To be able to survive in this environment, companies need to produce at low price and at high quality. The best way to succeed this is the efficient use of supply chain management that has started to get shaped by the needs of customers and the environment.

Keywords: cycle time, logistics, outsourcing, production, supply chain

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Authors: Mehmood Faisal

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In this globalization era, the supply chain management has acquired strategic importance in diverse business environments. In the current highly competitive business environment, the success of any business considerably depends on the efficiency of the supply chain. The importance of petroleum industry cannot be avoided in the global market; however, supply chain management in the petroleum industry is facing various challenges, particularly in the logistics area. These logistical challenges have a main influence on the cost of crude oil; therefore, the opportunities to save cost in logistics still do exist. The large oil producing companies are undertaking future contracts through 'swaps or options' practice that saves their millions of dollars. The objective of this paper is to throw light on the supply chain challenges and opportunities in the oil industry and on swap practices which are widely employed by large oil producing companies around the world, such as Chevron Corporation, Saudi Arabian Oil Company, BP and Exxon Mobil.

Keywords: logistics, oil industry, swap practice, supply chain management

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Authors: Cameron Truong, Mikhail Bhatia, Yangyang Chen, Viet Nga Cao

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Using a sample of U.S. firms between 1996 and 2011, this paper documents a positive association between options trading volume and future stock price crash risk. This relation is evidently more pronounced among firms with higher information asymmetry, business uncertainty, and short-sale constraints. In a dichotomous cross-sectional setting, we also document that firms with options trading have higher future crash risk than firms without options trading. We further show in a difference-in-difference analysis that firms experience an increase in crash risk immediately after the listing of options. The results suggest that options traders are able of identifying bad news hoarding by management and choose to trade in a liquid options market in anticipation of future crashes.

Keywords: bad news hoarding, cross-sectional setting, options trading, stock price crash

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Authors: Khlif Hamadi

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Supply chain integration has become a potentially valuable way of securing shared information and improving supply chain performance since competition is no longer between organizations but among supply chains. This research conceptualizes and develops three dimensions of supply chain integration (integration with customers, integration with suppliers, and the interorganizational integration) and tests the relationships between supply chain integration, information sharing, and supply chain performance. Furthermore, the four types of information sharing namely; information sharing with customers, information sharing with suppliers, inter-functional information sharing, and intra-organizational information sharing; and the four constructs of Supply Chain Performance represents expenses of costs, asset utilization, supply chain reliability, and supply chain flexibility and responsiveness. The theoretical and practical implications of the study, as well as directions for future research, are discussed.

Keywords: supply chain integration, supply chain management, information sharing, supply chain performance

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Authors: Gurjinder Singh, Jasmeen Kaur, Mukul Dhiman

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This paper mainly describes the significance of 3D printing in the supply chain management in a scenario when there is disruption in global supply chain. Furthermore, the development and implementation of supply chain strategies in context of 3D printing technology is framed to make supply chain of an organization resilient to disruption caused by natural disasters.

Keywords: 3D printing, global supply chain, supply chain management, supply chain strategies

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Authors: Menoka Bal, David Bryde

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Sustainability in supply chain has become a topic of great interest and is linked to the assumption that a more sustainable the supply chain is the more the supply chain can perform better. The aim of this paper is to identify the different key aspects of the sustainable supply chain management. This paper will also identify the practices that are required to fulfill the demands of sustainability and, therefore, contributing to improve the sustainability performance. As part of this, the authors will identify how these different practices of implementing to achieve Sustainability in Supply Chain. This paper is conceptual in nature. This paper identifies some of the key categories which are of high importance for the sustainable management of supply chains. These key categories are: Managing the Supply Chain Risk, Improving the Supply Chain Performance, Managing the Supply Chain Value, Making the Supply Chain Leaner, Managing the Supply Chain Relationship. Through in-depth analysis, this paper aims to develop a theory of integrated management process that is most appropriate for sustainability assessment in supply chain.

Keywords: sustainability, risk management, value management, project performance, supply chain management

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Authors: Umer Mukhtar

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Supply Chain Competitiveness is the capability of a supply chain to deliver value to the customer for the sake of competitive advantage. Service Performance and Quality intervene between supply chain actors including functions inside the firm in a significant way for the supply chain to achieve a competitive position in the market to gain competitive advantage. Supply Chain competitiveness is the current issue of interest because of supply chains’ competition for competitive advantage rather than firms’. A proposed theoretical model is developed by extracting and integrating different theories to pursue further inquiry based on case studies and survey design. It is also intended to develop a scale of service performance for functions of the focal firm that is a revolving center for a whole supply chain.

Keywords: supply chain competitiveness, service performance in supply chain, service quality in supply chain, competitive advantage by supply chain, networks and supply chain, customer value, value supply chain, value chain

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Authors: Mohammad Reza Nafar

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In order to get a better understanding of supply chain visibility for creating strategic value, this paper uses a dynamic capability lens to reveal the nature of supply chain visibility. This paper identifies the importance of supply chain visibility in driving supply chain reconfigurability and consequently improving supply chain strategic performance. Empirical evidence shows that visibility has a direct impact on supply chain strategic performance. It also supports that visibility is important for enhancing supply chain reconfigurability, thus creating strategic value in supply chains. Supply chain visibility, therefore, enables firms to reconfigure their supply chain resources for a better competitive advantage. From the perspective of practitioners, the results display several insights into how managers should create strategic value from supply chain visibility. Prominently, managers or decision-makers need to take advantage of supply chain visibility in order to use and recombine resources in a value creation manner.

Keywords: supply chain visibility, strategic performance, competitive advantage, resource mobilization, information system

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Authors: David Gligor

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The purpose of this study was to build on Fisher's (1997) seminal article. First, it sought to determine how companies can achieve supply chain fit (i.e., match between the products' characteristics and the underlying supply chain design). Second, it attempted to develop a better understanding of how environmental conditions impact the relationship between supply chain fit and performance. The findings indicate that firm supply chain agility allows organizations to quickly adjust the structure of their supply chains and therefore, achieve supply chain fit. In addition, archival and survey data were used to explore the moderating effects of six environmental uncertainty dimensions: munificence, market dynamism, technological dynamism, technical complexity, product diversity, and geographic dispersion. All environmental variables, except technological dynamism, were found to impact the relationship between supply chain fit and firm performance.

Keywords: supply chain fit, environmental uncertainty, supply chain agility, management engineering

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Authors: Marasovic Branka, Aljinovic Zdravka, Poklepovic Tea

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Numerical methods like binomial and trinomial trees and finite difference methods can be used to price a wide range of options contracts for which there are no known analytical solutions. American options are the most famous of that kind of options. Besides numerical methods, American options can be valued with the approximation formulas, like Bjerksund-Stensland formulas from 1993 and 2002. When the value of American option is approximated by Bjerksund-Stensland formulas, the computer time spent to carry out that calculation is very short. The computer time spent using numerical methods can vary from less than one second to several minutes or even hours. However to be able to conduct a comparative analysis of numerical methods and Bjerksund-Stensland formulas, we will limit computer calculation time of numerical method to less than one second. Therefore, we ask the question: Which method will be most accurate at nearly the same computer calculation time?

Keywords: Bjerksund and Stensland approximations, computational analysis, finance, options pricing, numerical methods

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Authors: Natalia Strobel, Jan Kratzer

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In this paper, we test whether different types of research and development (R&D) alliances positively impact the radical innovation performance of firms. We differentiate between the R&D alliances without extern R&D orders and embeddedness in knowledge source network. We test the differences between the domestically diversified R&D alliances and R&D alliances diversified abroad. Moreover, we test how non-price competition influences the impact of domestically diversified R&D alliances, and R&D alliance diversified abroad on radical innovation performance. Our empirical analysis is based on the comprehensive Swiss innovation panel, which allowed us to study 3520 firms between the years between 1996 and 2011 in 3 years intervals. We analyzed the data with a linear estimation with Swamy-Aurora transformation using plm package in R software. Our results show as hypothesized a positive impact of R&D alliances diversity abroad as well as domestically on radical innovation performance. The effect of non-price interaction is in contrast to our hypothesis, not significant. This suggests that diversity of R&D alliances is highly advantageous independent of non-price competition.

Keywords: R&D alliances, partner diversity, knowledge source diversity, non-price competition, absorptive capacity

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Authors: Ethan Nikookar, Yalda Boroushaki, Larissa Statsenko, Jorge Ochoa Paniagua

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Given the serious impact that supply chain disruptions can have on a firm's bottom-line performance, both industry and academia are interested in supply chain resilience, a capability of the supply chain that enables it to cope with disruptions. To date, much of the research has focused on the antecedents of supply chain resilience. This line of research has suggested various firm-level capabilities that are associated with greater supply chain resilience. A consensus has emerged among researchers that supply chain flexibility holds the greatest potential to create resilience. Supply chain flexibility achieves resilience by creating readiness to respond to disruptions with little cost and time by means of reconfiguring supply chain resources to mitigate the impacts of the disruption. Decisions related to supply chain disruptions are made by supply chain managers; however, the role played by supply chain managers' reference networks has been overlooked in the supply chain resilience literature. This study aims to understand the impact of supply chain managers on their firms' supply chain resilience. Drawing on social capital theory and social network theory, this paper proposes a conceptual model to explore the role of supply chain managers in developing the resilience of supply chains. Our model posits that higher level of supply chain managers' embeddedness in their reference network is associated with increased resilience of their firms' supply chain. A reference network includes individuals from whom supply chain managers seek advice on supply chain related matters. The relationships between supply chain managers' embeddedness in reference network and supply chain resilience are mediated by supply chain flexibility.

Keywords: supply chain resilience, embeddedness, reference networks, social capitals

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Authors: Marcelo Dias Carvalho, Leticia Ishikawa

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Supply Chain Risk Management refers to a set of strategies used by companies to avoid supply chain disruption caused by damage at production facilities, natural disasters, capacity issues, inventory problems, incorrect forecasts, and delays. Many companies use the techniques of the Toyota Production System, which in a way goes against a better management of supply chain risks. This paper studies key events in some multinationals to analyze the trade-off between the best supply chain risk management techniques and management policies designed to create lean enterprises. The result of a good balance of these actions is the reduction of losses, increased customer trust in the company and better preparedness to face the general risks of a supply chain.

Keywords: just in time, lean manufacturing, supply chain disruptions, supply chain management

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Authors: Svetlana Pushkar

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Eco-indicator 99 (EI99) considers fundamental life cycle assessment (LCA) uncertainties via egalitarian/egalitarian (e/e), hierarchist/hierarchist (h/h), individualist/individualist (i/i), individualist/average (i/a), egalitarian/average (e/a), and hierarchist/average (h/a) methodological options. The objective of this study is to provide a reliable two-stage nested mixed balanced Analysis of Variance (ANOVA) test as a supplemental test to EI99 to address the problematic combination of similarly and not similarly produced materials usually found in building technologies. The robustness of the test was determined from both the “EI99 (all options)” stage (including e/e, i/i, h/h, e/a, i/a, and h/a - all methodological options) and the “EI99 (perspectives)” stage (including e/e, i/i, and h/h methodological options of EI99 - the methodological options with their particular weighting set or e/a, i/a, and h/a methodological options of EI99 - the methodological options with the average weighting set) of evaluating building technologies.

Keywords: building technologies, LCA uncertainty, Eco-indicator 99, two-stage nested mixed ANOVA test

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Authors: Alfred L. Guiffrida

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A review of the literature on supply chain delivery models which use delivery windows to measure delivery performance is presented. The review herein serves to meet the following objectives: (i) provide a synthesis of previously published literature on supply chain delivery performance models, (ii) provide in one paper a consolidation of research that can serve as a single source to keep researchers up to date with the research developments in supply chain delivery models, and (iii) identify gaps in the modeling of supply chain delivery performance which could stimulate new research agendas.

Keywords: delivery performance, delivery window, supply chain delivery models, supply chain performance

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Authors: Niranjan Devkota , Ram Kumar Phuya, Durga Lal Shreshta

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This paper estimates cost and benefit of adoption of climate change adaptation options available to the rural rice farmers of Nepal. Adoption of adaptation strategies, intensity of use of adaptation options, identification of labor and non-labor cost and finally per unit cost and benefit analysis of climate change adaptation were made. Multi-stage sampling technique was used to source respondents for the study and used structured questionnaire techniques to collect data from 773 households from seven districts; 3 from Terai and 4 from Hilly region of Nepal. The result revealed that there are 13 major adaptation options rice farmers practice in order to protect themselves from climatic risk. Among the given adaptation options, the first three popular adaptation options practiced by rice farmers are (i) increasing use of chemical fertilizer (60.93%) (ii) use of climate smart verities (49.29%) and (iii) change in nursery date (32.08%). Adaptation cost is obvious, based on that, the first three costly adaptation options are the alternative irrigation practice which incurred average cost of US $69.95 (US$ 1 = 102.84 Nepalese Rupees) followed by a denser plantation of local seeds ($ 20.69) and using climate smart varieties ($ 18.06). 88% farmers practiced more than one adaptation strategies on the same farm with the aim of reducing the effect of extreme climatic conditions. Total cost and revenue revealed that per unit total cost ranges from $28.34 to $32.79 whereas per unit total revenue ranges $33.4 to $49.02. Surprisingly, it is observed that farmers who do not adopt any adaptation options are able to receive highest income from per unit production. As Net Present Value (NPV) is positive and Benefit Cost Ration (BCR) is greater than one for every adaptation options that indicates the available adaptation options are profitable to the rice farmers.

Keywords: climate change, adaptation options, cost benefit analysis, rural rice farmers, Nepal

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Authors: Clifford Irikefe Gbeyonron

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The Nigerian educational system, which has English language as a major medium of instruction, has been designed in such a way that the cognitive, psychomotor and affective endowments of the Nigerian learner could be explored. However, the human resources that would impart the desired knowledge, skills and values in the learners seem to be in short supply. This paucity is more manifest in the area of teachers of English. As a result, this research was conducted on the demand and supply of teachers of English at the junior secondary schools in Gashua, Yobe State. The results indicate that there was dearth of teachers of English the domain under review. This thus presents a challenge that should propel English language teacher education industries to produce more teachers of English. As a result, this paper recommends that the teacher production process should make use of qualified and enthusiastic teacher trainers that would be able to inculcate in-depth linguistic and communicative competence of English language and English language teaching skills in the potential teachers of English. In addition, English language education service providers should attract and retain the trained teachers of English in the business of English language teaching in such a way that all the states of Nigeria could experience educational development.

Keywords: demand, supply, teachers of English, Yobe State

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Authors: Guillaume Leduc

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In this paper, we describe a broad setting under which the error of the approximation can be quantified, controlled, and for which convergence occurs at a speed of n⁻¹ for European and American options. We describe how knowledge of the error allows for arbitrarily fast acceleration of the convergence.

Keywords: random walk approximation, European and American options, rate of convergence, option pricing

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Authors: Chantouch Wannathanom

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Research The study of elders’ needs in Bangkok metropolis for the options of health tourism. The objective is to study of elders’ needs in Bangkok Metropolis for the options of health tourism. The research her collected data using a questionnaire. The samples used in this research is elderly people living in the Dusit area. Of 400 people found the majority were female than male. Accounted for18 percent aged between 50-55 years, mostly undergraduate degree. Moreover, most seniors do not have underlying disease. The study found that 1. Elders’ needs in Bangkok Metropolis for the options of health tourism; 2. Tourism activity patterns that fit elderly was divided into 5 categories, including massage, massage, and herbal sauna. Practicing meditation and ascetic. The results showed that selection of elderly tourist activities by choosing healthy eating are the first. The hypothesis testing period: Elders’ needs in Bangkok Metropolis for the options of health tourism is different. The level of statistical significance .05 level.

Keywords: needs, elder, health tourism, Bangkok

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Authors: Jaime A. Palma-Mendoza

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A supply chain consists of different processes and when conducting supply chain re-design is necessary to identify the relevant processes and select a target for re-design. A solution was developed which consists to identify first the relevant processes using the Supply Chain Operations Reference (SCOR) model, then to use Analytical Hierarchy Process (AHP) for target process selection. An application was conducted in an Airline MRO supply chain re-design project which shows this combination can clearly aid the identification of relevant supply chain processes and the selection of a target process for re-design.

Keywords: decision support systems, multiple criteria analysis, supply chain management

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Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: implied adjusted volatility, financial crisis, Leland option pricing models, Australian index options

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Authors: Changtong Wang, Lingyun Wei

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The combination of auctions and supply chains is of great significance in improving the supply chain management system and enhancing the efficiency of economic and social operations. To address the gap in research on supply chain strategies under the auction mechanism, a model is developed for the 1-N auction model in a complete information environment, and it is concluded that the two-part contract auction model for retailers in this model can achieve supply chain coordination. The model is validated by substituting the model into the scenario of a fresh-cut flower industry flower auction in exchange for arithmetic examples to further prove the validity of the conclusions.

Keywords: auction mechanism, supply chain coordination strategy, fresh cut flowers industry, supply chain management

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Authors: Kittipong Tissayakorn, Fumio Akagi, Yu Song

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Manufacturers have been exploring innovative strategies to achieve and sustain competitive advantages as they face a new era of intensive global competition. Such strategy is known as Supply Chain Management (SCM), which has gained a tremendous amount of attention from both researchers and practitioners over the last decade. Supply chain management (SCM) is considered as the most popular operating strategy for improving organizational competitiveness in the twenty-first century. It has attracted a lot of attention recently due to its role involving all of the activities in industrial organizations, ranging from raw material procurement to final product delivery to customers. Well-designed supply chain systems can substantially improve efficiency and product quality, and eventually enhance customer satisfaction and profitability. In this paper, a manufacturing engineering perspective on supply chain integration is presented. Research issues discussed include the product and process design for the supply chain, design evaluation of manufacturing in the supply chain, agent-based techniques for supply chain integration, intelligent information for sharing across the supply chain, and a development of standards for product, process, and production data exchange to facilitate electronic commerce. The objective is to provide guidelines and references for manufacturing engineers and researchers interested in supply chain integration.

Keywords: supply chain, supply chain management, supply chain integration, manufacturing industries

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Authors: Elad Harison

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The paper identifies the complex links between post-COVID-19 inflationary pressures and global supply chains. Throughout the COVID-19 lockdowns and long periods after the termination of social distancing policies, consumers, notably in the U.S., have confronted and still face disruptions in the supply of goods. The study analyzes the monetary policy in the U.S. that led to the significant shift in consumer demand during a limited supply period, hence resulting in shortages and emphasizing inflationary dynamics. We argue that the monetary guidelines applied by the U.S. government further elevated the scope of supply chain disruptions.

Keywords: consumer demand, COVID-19, inflation, monetary policy, supply chain

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Authors: Mohammad Yousuf Khan, Bhavya Alankar

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Blockchain is a promising technology with its features such as immutability and decentralized database. It has applications in various fields such as pharmaceutical, finance, & the food industry. At the core of its heart lies its feature, traceability which is the most desired key in supply chains. However, supply chains have always been hit rock bottom by scandals and controversies. In this review paper, we have explored the advancement and research gaps of blockchain technology (BT) in supply chain management (SCM). We have used the Prisma framework for systematic literature review (SLR) and included a minuscule amount of grey literature to reduce publication bias. We found that supply chain traceability and transparency is the most researched objective in SCM. There was hardly any research in supply chain resilience. Further, we found that 40 % of the papers were application based. Most articles have focused on the advantages of BT, rather than analyzing it critically. This study will help identify gaps and suitable actions to be followed for an efficient implementation of BT in SCM.

Keywords: blockchain technology, supply chain management, supply chain transparency, supply chain resilience

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Authors: Max Moleke, Gilbert Mbonde

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Coordinating supply chain process within a manufacturing environment is a very critical aspect of any organization. Nowadays, most manufacturing industries turn to look at only the financial indicator which in real life situation on the shop floor, there are a number of supply chain disruptions that are been ignored. In this work, we had to look at different types of supply chain disruption and their various impact within the organization. A number of Industrial engineering tools are employed which includes, Multifactor productivity, activity on arrow and rescheduling plans. The final result shows that supply chain disruption various with different geographical area where the production plant is operating.

Keywords: supply chain, disruptions, flow shop scheduling, uncertainty

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Authors: T. Godwin

Abstract:

The design of a supply chain always entails the trade-off between responsiveness and efficiency. The launch of e-commerce has not only changed the way of shopping but also altered the supply chain design while trading off efficiency with responsiveness. A concept called ‘virtual responsiveness’ is introduced in the context of e-commerce supply chain. A simulation model is developed to compare actual responsiveness and virtual responsiveness to the customer in an e-commerce supply chain. The simulation is restricted to the movement of goods from the e-tailer to the customer. Customer demand follows a statistical distribution and is generated using inverse transformation technique. The two responsiveness schemes of the supply chain are compared in terms of the minimum number of inventory required at the e-tailer to fulfill the orders. Computational results show the savings achieved through virtual responsiveness. The insights gained from this study could be used to redesign e-commerce supply chain by incorporating virtual responsiveness. A part of the achieved cost savings could be passed back to the customer, thereby making the supply chain both effective and competitive.

Keywords: e-commerce, simulation modeling, supply chain, virtual responsiveness

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