Abstract: The aim of this paper is to present current and future
procedures in castings procurement. Differences in procurement are
highlighted. The supplier selection criteria used in practice is
compared to literature findings. Different trends related to supply
chains are presented and it is described how they are reflected in
reality to castings procurement. To fulfil the aim, interviews were
conducted in nine companies using castings. It was found that largest
casting users have the most subcontractor foundries and it is more
typical that they have multiple suppliers for the same parts. Currently
only two companies out of nine purchase castings outside Europe,
but the others are also progressing in the same direction. The main
reason is the need to lower purchasing costs. Another trend is that all
companies want to buy cast components or sub-assemblies instead of
raw castings from foundries. It was found that price is a main
supplier selection criterion. All companies use competitive bidding in
supplier selection.
Abstract: In the last few years, several steps were taken in order
to improve the quality of corporate governance for Romanian listed
companies. Higher standards of corporate governance is documented
in the literature to lead to a better information environment, and,
consequently, to increase analysts forecast accuracy. Accordingly, the
purpose of this paper is to investigate the extent to which corporate
governance policies affect analysts forecasts for companies listed on
Bucharest Stock Exchange. The results showed that there is indeed a
negative correlation between a corporate governance index – used as
a proxy for the quality of corporate governance practices - and
analysts forecast errors.
Abstract: A Decision Support System/Expert System for stock
portfolio selection presented where at first step, both technical and
fundamental data used to estimate technical and fundamental return
and risk (1st phase); Then, the estimated values are aggregated with
the investor preferences (2nd phase) to produce convenient stock
portfolio.
In the 1st phase, there are two expert systems, each of which is
responsible for technical or fundamental estimation. In the technical
expert system, for each stock, twenty seven candidates are identified
and with using rough sets-based clustering method (RC) the effective
variables have been selected. Next, for each stock two fuzzy rulebases
are developed with fuzzy C-Mean method and Takai-Sugeno-
Kang (TSK) approach; one for return estimation and the other for
risk. Thereafter, the parameters of the rule-bases are tuned with backpropagation
method. In parallel, for fundamental expert systems,
fuzzy rule-bases have been identified in the form of “IF-THEN" rules
through brainstorming with the stock market experts and the input
data have been derived from financial statements; as a result two
fuzzy rule-bases have been generated for all the stocks, one for return
and the other for risk.
In the 2nd phase, user preferences represented by four criteria and
are obtained by questionnaire. Using an expert system, four estimated
values of return and risk have been aggregated with the respective
values of user preference. At last, a fuzzy rule base having four rules,
treats these values and produce a ranking score for each stock which
will lead to a satisfactory portfolio for the user.
The stocks of six manufacturing companies and the period of
2003-2006 selected for data gathering.
Abstract: The State of Rio de Janeiro, Brazil, will hold two important events in the nearby future. In 2014 it will have the final game of the Football World Cup, and in 2016 it will be holding the Olympic Games. Therefore, the public transportation system (mainly buses) is of a major concern to the Rio de Janeiro State authorities-. The main objective of this work is to compare the quality of service of the bus companies operating in the cities of ItaperunaandCampos, both cities situated in the state of Rio de Janeiro, Brazil. The outcome of thiscomparison, based on the opinion of the bus users, has shownthemdispleased with the quality of the service provided by the bus companies operating in both cities. It is urgent the need to find possible practical alternatives to minimize the consequences of the main problems detected in this work. With these practical alternatives available, we will be able to offer to the Rio de Janeiro State authorities- suggestions about possible solutions to the main problems identified in this survey, as well as the time of implantation and costs of these solutions.
Abstract: The supply chains (SCs) have to appeal to new management paradigms to improve their ability to respond rapidly and cost effectively to unpredictable changes in markets and increasing levels of environmental turbulence, both in terms of volume and variety. In this highly demanded context, the Agile paradigm provides the capabilities to SC quickly adapt to changes in the market requirements. The purpose of this paper is to suggest an Agile Index to assess the agility of the automotive companies and corresponding SCs. The proposed integrated assessment model incorporates Agile practices weighted according to their importance to the automotive SC competitiveness and obtained from the Delphi technique.
Abstract: The objective of this research was to study the factors
related to the satisfaction of consumers who purchased a Toyota
SUV Fortuner. This paper was a survey data which collected 400
samples from 65 car dealerships. The survey was conducted mainly
in Bangkok, Thailand. The statistics utilized in this paper included
percentage, mean, standard deviation and Pearson Product-Moment.
The findings revealed that the majority of respondent were male with
an undergraduate degree, married and live together. The average
income of the respondents was between 20,001 - 30,000 baht. Most
of them worked for private companies. Most of them had a family
with the average of 4 members. The hypotheses testing revealed that
the factors of marketing mix in terms of product (ability, gas
mileage, and safety) were related to overall satisfaction at the
medium level. However, the findings also revealed that the factors of
marketing mix in terms of product (image), price, and promotion, and
service center were related to the overall satisfaction at the low level.
Abstract: Complaints today have the ability to retain
customer loyalty using state of the art systems and strategies
in customer relationship management to analyze and respond
to a plethora of customer perception. The Majority of
companies are not aware of the beneficiary utilization of
customer complaints for the sake of quality improvements.
Also, some companies have problems determining how
resolution of complaints can be profitable. In this study, we
will define the problems and ascertain the importance of
customer management system on the companies. Furthermore,
we will determine the impact of such a system on efficiency,
confidence, profitability and customer complaints. Eventually,
we will develop methods and address the issues. In this paper,
we used an open-ended questionnaire and distributed that to
30 randomly chosen respondents which were the passengers in
an airport. We also define three hypotheses for our study and
we will validate each of them. Then using frequency, Chi-
Square and quality control method we optimized the size of
customers- negative feedback and improved the process of
customer retention.
Abstract: Nowadays, quick technological changes force companies
to develop innovative products in an increasingly competitive
environment. Therefore, how to enhance the time of new product
development is very important. This design problem often lacks
the exact formula for getting it, and highly depends upon human
designers- past experiences. For these reasons, in this work, a Casebased
reasoning (CBR) system to assist in new product development
is proposed. When a case is recovered from the case base, the system
will take into account not only the attribute-s specific value and
how important it is. It will also take into account if the attribute
has a positive influence over the product development. Hence the
manufacturing time will be improved. This information will be
introduced as a new concept called “adaptability". An application to
this method for hearing instrument new design illustrates the proposed
approach.
Abstract: Managers as the key employees have a very important
role in maintaining the workforce performance which is critical to the
construction companies- success in the future. If motivated
employees start with motivated managers probably it would seem
plausible if the de-motivated ones start with de-motivated managers.
This study aims to analyze the importance of motivated managers to
their successes and construction companies- successes. In this study,
a quantitative method was used and the study area was in Medan,
North Sumatera. Questionnaire survey was distributed directly to
construction companies in Medan which are listed in the
Construction Services Development Board. A total of 60 managers
responded and the completed questionnaires were analyzed using the
descriptive analysis. The results indicated that the respondents
acknowledge the importance of motivation among themselves to the
projects and construction companies- success, implying that it is vital
to maintain the motivation and good performance of the workforce.
Abstract: In July 1, 2007, Taiwan Stock Exchange (TWSE) on
market observation post system (MOPS) adds a new "Financial
reference database" for investors to do investment reference. This
database as a warning to public offering companies listed on the
public financial information and it original within eight targets. In
this paper, this database provided by the indicators for the application
of company financial crisis early warning model verify that the
database provided by the indicator forecast for the financial crisis,
whether or not companies have a high accuracy rate as opposed to
domestic and foreign scholars have positive results. There is use of
Logistic Regression Model application of the financial early warning
model, in which no joined back-conditions is the first model, joined it
in is the second model, has been taken occurred in the financial crisis
of companies to research samples and then business took place
before the financial crisis point with T-1 and T-2 sample data to do
positive analysis. The results show that this database provided the
debt ratio and net per share for the best forecast variables.
Abstract: Global environmental changes lead to increased frequency and scale of natural disaster, Taiwan is under the influence of global warming and extreme weather. Therefore, the vulnerability was increased and variability and complexity of disasters is relatively enhanced. The purpose of this study is to consider the source and magnitude of hazard characteristics on the tourism industry. Using modern risk management concepts, integration of related domestic and international basic research, this goes beyond the Taiwan typhoon disaster risk assessment model and evaluation of loss. This loss evaluation index system considers the impact of extreme weather, in particular heavy rain on the tourism industry in Taiwan. Consider the extreme climate of the compound impact of disaster for the tourism industry; we try to make multi-hazard risk assessment model, strategies and suggestions. Related risk analysis results are expected to provide government department, the tourism industry asset owners, insurance companies and banking include tourist disaster risk necessary information to help its tourism industry for effective natural disaster risk management.
Abstract: Nowadays, the pace of business change is such that,
increasingly, new functionality has to be realized and reliably
installed in a matter of days, or even hours. Consequently, more and
more business processes are prone to a continuous change. The
objective of the research in progress is to use the MAP model, in a
conceptual modeling method for flexible and adaptive business
process. This method can be used to capture the flexibility
dimensions of a business process; it takes inspiration from
modularity concept in the object oriented paradigm to establish a
hierarchical construction of the BP modeling. Its intent is to provide
a flexible modeling that allows companies to quickly adapt their
business processes.
Abstract: Restructured electricity markets may provide
opportunities for producers to exercise market power maintaining
prices in excess of competitive levels. In this paper an oligopolistic
market is presented that all Generation Companies (GenCos) bid in a
Cournot model. Genetic algorithm (GA) is applied to obtain
generation scheduling of each GenCo as well as hourly market
clearing prices (MCP). In order to consider network constraints a
multiperiod framework is presented to simulate market clearing
mechanism in which the behaviors of market participants are
modelled through piecewise block curves. A mixed integer linear
programming (MILP) is employed to solve the problem. Impacts of
market clearing process on participants- characteristic and final
market prices are presented. Consequently, a novel multi-objective
model is addressed for security constrained optimal bidding strategy
of GenCos. The capability of price-maker GenCos to alter MCP is
evaluated through introducing an effective-supply curve. In addition,
the impact of exercising market power on the variation of market
characteristics as well as GenCos scheduling is studied.
Abstract: Due to dynamic evolution, the ability of a
manufacturing technology to produce a special product is changing.
Therefore, it is essential to monitor the established techniques and
processes to detect whether a company-s production will fit future
circumstances. Concerning the manufacturing technology planning
process, companies must decide when to change to a new technology
for maintaining and increasing competitive advantages. In this
context, the maturity assessment of the focused technologies is
crucial. This article presents an approach for defining the maturity of
a manufacturing technology from a strategic point of view. The
concept is based on the approach of technology readiness level
(TRL) according to NASA (National Aeronautics and Space
Administration), but also includes dynamic changes. Therefore, the
model takes into account the concept of the technology life cycle.
Furthermore, it enables a company to estimate the ideal date for
implementation of a new manufacturing technology.
Abstract: State tax revenues in most countries started to decrease during the recession. Government of Latvia decided to compensate the decline by increasing rates of several taxes including excise tax on strong alcohol. The total increase in 2009 constituted 42% and the rate increased from 896€ to 1 266€ for 100l of absolute alcohol. Since then this has had a negative impact on consumption volumes and the split between legal and illegal market. The legal alcohol sales decreased by almost 50% (by volume), consequentially having negative effect on the State revenues from VAT and excise tax. Estimated results for 2010 are indicating 54 million € decrease in VAT, excise tax and other taxes versus 2008 (excise tax -19 million €, VAT -30 million €, other taxes -5 million €). The paper aims to analyze impact of the increase in excise tax on consumption patterns, State revenues and competitiveness of the local companies to draw up proposals for the state authorities regarding more effective tax policies. The analysis reveals a relationship between excise tax rate, illegal alcohol market and State revenues. The results can be used to improve excise tax system and effectiveness in Latvia.
Abstract: This research study aims to identify the impact of two
factors –growth and competitive strategies- on a set of building
production innovation strategies. It was conducted a questionery
survey to collect data from construction professionals and it was
asked them the importance level of predicted innovation strategies for
corporate strategies. Multiple analysis of variance (MANOVA) was
employed to see the main and interaction effects of corporate
strategies on building innovation strategies. The results indicate that
growth strategies such as entering in a new a market or new project
types has a greater effect on innovation strategies rather than
competitive strategies such as cost leadership or differentiation
strategies. However the interaction effect of competitive strategies
and growth strategies on innovation strategies is much bigger than
the only effect of competitive strategies. It was also analyzed the
descriptive statistics of innovation strategies for different competitive
and growth strategy types.
Abstract: Acetaminophen (Paracetamol) tablets are popular OTC products among patients as analgesics and antipyretics. Paracetamol is marketed by a lot of suppliers around the world. The aim of the present investigation was to compare between many types of paracetamol tablets obtained from different suppliers (six brands produced by different pharmaceutical companies in middle east countries, and Panadol® manufactured in Ireland), by different quality control tests according to USP pharmacopeia.Using Non official tests-hardness and friability; official tests- disintegration, dissolution, and drug content. Additionally, evaluate the influence of temperatures 4°C, 25°C and 40°C at 75% relative humidity on the stability of the same brands in their original packaging has been conducted for two months. The results revealed that all paracetamol tablet brands complied with the official USP specifications. In conclusion, paracetamol tablets preferred to be stored at 25°C. All the tested brands being biopharmaceutically and chemically equivalent.
Abstract: The purpose of this paper is to explore the relationship
between the customers- issues in company corporate governance and
the financial performance. At the beginning theoretical background
consisting stakeholder theory and corporate governance is presented.
On this theoretical background, the empirical research is built,
collecting data of 60 Czech joint stock companies- boards
considering their relationships with customers. Correlation analysis
and multivariate regression analysis were employed to test the sample
on two hypotheses. The weak positive correlation between
stakeholder approach and the company size was identified. But both
hypotheses were not supported, because there was no significant
relation of independent variables to financial performance.
Abstract: The relation between taxation states and foreign direct
investment has been studied for several perspectives and with states
of different levels of development. Usually it's only considered the
impact of tax level on the foreign direct investment volume. This
paper enhances this view by assuming that multinationals companies
(MNC) can use transfer prices systems and have got investment
timing flexibility. Thus, it evaluates the impact of the use of
international transfer pricing systems on the states- policy and on the
investment timing of the multinational companies. In uncertain
business environments (with periodical release of news), the
investment can increase if MNC detain investment delay options.
This paper shows how tax differentials can attract foreign direct
investments (FDI) and influence MNC behavior. The equilibrium is
set in a global environment where MNC can shift their profits
between states depending on the corporate tax rates. Assuming the
use of transfer pricing schemes, this paper confirms the relationship
between MNC behavior and the release of new business news.
Abstract: This is a conceptual paper on the application of open
innovation in three case examples of Apple, Nintendo, and Nokia.
Utilizing key concepts from research into managerial and
organizational cognition, we describe how each company overcame
barriers to utilizing open innovation strategy in R&D and
commercialization projects. We identify three levels of barriers:
cognitive, behavioral, and institutional, and describe the companies
balanced between internal and external resources to launch products
that were instrumental in companies reinventing themselves in
mature markets.