An empirical analysis of inventory turnover behaviour in Greek retail sector: 2000-2005

In this study we investigate the determinants of inventory turnover. The study is based on an econometric analysis of inventory behaviour using an inventory turnover model. The empirical implementation of the model was conducted on a sample of financial data for 566 Greek retail firms for the period 2000-2005. By employing panel data techniques it was found that inventory turnover ratio is negatively correlated with gross margin and positively correlated with capital intensity and a measure of sales surprise.Decomposing the variance into its components associated with year, firm and retail segment effects, we found that a substantial amount of inventory turns variability is due to segment-wise effects. Moreover, the inventory turnover reaction to different sales changes was also studied. It was estimated that changes in sales bring on bigger changes when firms operate in sales-declined region. These results are useful in identifying methods and applications to improve inventory performance among firms and over time.     

An iterative approach to item-level tactical production and inventory planning

In this paper, we propose an iterative approach to jointly solve the problems of tactical safety stock placement and tactical production planning. These problems have traditionally been solved in isolation, even though both problems operate in the same decision making space and the outputs of one naturally serve as the inputs to the other. For simple supply chain network structures, two stages and one or many products, we provide sufficient conditions to guarantee the iteration algorithm’s termination. Through examples, we show how the algorithm works and prove its applicability on a realistic industrial-scale problem.     

An empirical analysis of supply chain risk management in the German automotive industry

The purpose of this paper is the empirical analysis of supply chain risk management practices. The analysis is based on a survey with 67 manufacturing plants conducted in the German automotive industry. After investigating the vulnerability of supply chains in general and examining key drivers of supply chain risks, the paper identifies supply chain risks by analyzing their likelihood to occur and their potential impact on the supply chain. The results are visualized in the probability-impact-matrix distinguishing between internal and external supply chain risks. Furthermore, instruments for dealing with supply chain risks are investigated. Therefore, the impact of supply chain risk management on performance is tested. In order to distinguish between companies with a high degree of supply chain risk management and those with no or only limited implementation the plants are grouped by means of a cluster analysis based on factors reflecting the instruments of supply chain risk management. In particular, groups are created representing two different approaches to deal with supply chain risks, i.e. reactive and preventive supply chain risk management. The clusters are investigated concerning differences in terms of performance criteria. The analyses reveal that companies with a high implementation degree show a better supply chain performance. Furthermore, the results show that the group using reactive supply chain risk management has higher average value in terms of disruptions resilience or the reduction of the bullwhip effect, whereas the group pursuing preventive supply chain risk management has better values concerning flexibility or safety stocks.     

Streamlining inventory flows with time discounts to improve the profits of a decentralized supply chain

We consider a decentralized supply chain, whereby a supplier sells a product to a group of independent buyers, and develop a strategy for the supplier to offer an all-units price discount or cash rebate for orders that are synchronized with its replenishments. As synchronized orders can be met with inventory directly from receiving to shipping without warehousing, the proposed strategy streamlines system inventory flows to minimize inventory and, hence, the related costs. On the other hand, by increasing the replenishment interval of the supplier, the proposed strategy is able to induce buyers to order in large quantities and hence achieve the objectives of quantity discounts. We show that the proposed strategy can achieve nearly optimal (minimum) system cost, and is much more effective than the existing coordination strategies for decentralized supply chains in the literature.     

Feel free to feel comfortable—An empirical analysis of ergonomics in the German automotive industry

The purpose of this paper is to examine ways to improve ergonomics on the manufacturing shop floor. In particular, the impact of certain ergonomic practices on companies' economic and social objectives is investigated empirically. In order to do so, a survey has been conducted among manufacturing managers of 55 companies in the German automotive industry. The managers have been asked about their estimations on harmful tasks within the production process and on the effectiveness of various practices in the context of ergonomics and health. Worker-oriented and work-oriented practices of ergonomics are operationalized using factor analysis. By means of a cluster analysis, companies with a high degree of implementation of ergonomic practices are identified. The analysis shows that plants with a higher implementation degree of ergonomic practices show a better performance in terms of economic and social objectives. Furthermore, the results reveal that work-oriented practices lead to better performance with respect to the investigated economic and social objectives, whereas worker-oriented practices play a supporting role only. Finally recommendations for manufacturing companies with regard to the field of ergonomics are derived from the empirical results.     

Supply chain management: A multidisciplinary content analysis of vertical relations between companies, 1997-2006

The aim of this work is to contribute to a better understanding of the research conducted on supply chain management (SCM) at a multidisciplinary level. To this end, a content analysis was performed of the most significant scientific literature about marketing, logistics, management and marketing channels published over the period 1997-2006. As a result, a database of 414 papers from 14 journals was created. Analysis of these works reveals the level of development of the main lines of research into SCM and makes it possible to detect the topics that require greater attention and which may be the object of future studies conducted by researchers and academics. It also allows managerial staff to identify the methodologies and tools that can be used to improve the management of relationships within the supply chain. One of the main conclusions reached in the study is the shortage of studies conducted on the supply chain as a network of enterprises, since most research focuses on a single enterprise or, at the most, on its relationships with its suppliers or direct customers.     

Do it separately or simultaneously—An empirical analysis of a conjoint implementation of TQM and TPM on plant performance

Over the last decades, Total Quality Management (TQM) and Total Productive Maintenance (TPM) have become key concepts for improving production. The majority of modern manufacturing companies has implemented at least one of these improvement programs or even both of them. The common ground of TQM and TPM is the focus on human resources. In this paper, the impact of TQM and TPM on plant performance and especially the supporting role of employee involvement practices is investigated empirically using multiple regression analysis and structural equation modeling. The data used for conducting the analyses is taken from the international research project High Performance Manufacturing that contains the data of 238 plants. The results indicate that TQM and TPM, supported by HR practices, have a significant potential to improve plant performance. However, a simultaneous implementation of both concepts does not necessarily lead to superior performance. As potential reason for this, human resources are regarded as limiting factor both improvement programs draw on. Accordingly, this scarce resource is identified as crucial element with respect to performance when implementing TQM and TPM simultaneously.