A lot sizing and sequencing algorithm for dynamic demands upon a single facility

A heuristic algorithm is developed and applied to determine lot sizes and production sequence on a single facility. The various product demands are treated as deterministic and time varying (dynamic) over a finite planning horizon, such as that generated from a material requirements planning (MRP) system.In contrast to other approaches available, the algorithm considers the sequencing decision in each period by realistically assuming inventory holding cost occurrence in the period of production, and in addition, it is capable of considering set-up times where such set-up times consume available productive capacity. The ability to handle numerous products, and the capability of being able to specify maintenance time and holidays is an integral aspect of the algorithm.The results of an application of the algorithm in a medium size bearing company have shown very significant reduction in the controllable inventory holding cost while eliminating late deliveries. In an effort to cope with potential realistic schedule alterations, different solutions were developed for managerial evaluation providing greater flexibility but at a higher cost.     

Optimale Bedürfnisbefriedigung der Konsumenten durch Category Management — Category Management bei Schwarzkopf & Henkel

Welche Bedürfnisse, Wünsche und Anforderungen haben die Konsumenten an den Einkauf im Allgemeinen und den Kosmetikeinkauf im Speziellen? Unterscheiden sich die Konsumenten in den verschiedenen Vertriebskan?len hinsichtlich ihrer Einstellungen? Wie k?nnen weitere Potenziale über das Sortiment und Regal hinaus identifiziert und gehoben werden? Wie k?nnen Handelsunternehmen die verschiedenen Aspekte im Sinne eines konsumentenrelevanten Sortiments miteinander verbinden? Durch die Kooperation von Handels- und Industrieunternehmen in Category Management-Prozessen k?nnen diese Fragestellungen im Sinne der Konsumenten beantwortet und neue Potenziale ausgesch?pft werden.     

The gains from partial completion of the single market

The Gains from Partial Completion of the Single Market. — Some countries (Germany and Austria) are surprisingly slow in implementing EU directives, while other countries (Denmark and the Netherlands) have implemented most directives in their national legislation. Why these big differences in the speed of implementing Single Market measures? More importantly, what are the economic effects of being a first-mover country (like Denmark) in implementing the Single Market measures? What are the welfare effects of the partially completed Single Market? Answers to these policy questions are provided by simulations of a computable general equilibrium model.     

Exchange risk premia in a currency basket system

Zusammenfassung Pr?mien für Wechselkursrisiken in einem W?hrungskorb-System. - Viele L?nder binden ihre Wechselkurse an W?hrungsindizes wie die ECU oder einseitig definierte W?hrungsk?rbe. In diesem Aufsatz werden die Implikationen eines Korbsystems für die Pr?mien von Wechselkursrisiken untersucht. Dabei wird argumentiert, da\ die Risiken im Falle bilateraler Wechselkurse durch eine Replik des Korbes diversifiziert werden k?nnen. Um den Teil der Pr?mie zu erfassen, der von inl?ndischen Faktoren beeinflu\t wird, sollte sich die Untersuchung auf korb-gewichte-te Positionen konzentrieren. Werden schwedische Daten benutzt, dann ergibt sich eine Risikopr?mie für die schwedische Krone in bezug auf den W?hrungskorb.

---

Resumen Sobretasa por riesgo de cambio en un sistema de canasta monetaria. - Varios países vinculan sus tipos de cambio a índices monetarios como el del Ecu o a canastas monetarias definidas unilateralmente. Este trabajo estudia las implicaciones de un sistema de canasta para la sobretasa por riesgo de cambio. Se arguye que los riesgos asociados con tipos bilaterales pueden ser reducidos por diversificación através de una réplica de la canasta. A los efectos de captar la parte de la sobretasa influenciada por factores locales, el análisis deberá concentrarse en posiciones ponderadas con la canasta. Utilizando datos para Suecia se encuentra evidencia consistente con la existencia de una sobretasa sobre la corona sueca en relación a la canasta.

---

Résumé Primes de risque de change dans un système de panier de monnaie. - Beaucoup de pays lient leurs taux de change aux indices de monnaie comme par exemple l’ECU et aux paniers de monnaie définis unilatéralement. Cet article étudie les implications d’un système de panier pour des primes de risque de change. L’auteur argue que les risques en taux bilatéraux peuvent être diversifiés en répliquant le panier. Pour comprendre mieux la partie du prime qui est influencée par des facteurs locaux, l’analyse devrait se concentrer sur les positions panier-pondérées. En utilisant des données suédoises l’évidence est trouvée en faveur de l’observation d’une prime de risque sur la couronne suédoise en relation au panier.

     

The development and regional significance of the automotive industry: supplier parks in western Europe

Supplier relationships in the automotive industry have changed considerably in recent decades. Increasing levels of outsourcing and modular production combined with just–in–time deliveries have increased the demand for logistical coordination of the manufacturing process. This article specifically looks at the use of supplier parks in the automotive industry. Five supplier parks located in Sweden, Germany and Spain are analysed using case studies. One observation is that the logic of proximity in these cases is highly linked to the use of sequential synchronous just–in–time deliveries. This is combined with a high degree of modular production as well as outsourcing strategies. Together, these factors have pushed supplier companies to establish themselves in supplier parks. The cases also reveal very limited links to the local and regional economy. Most companies have the sole function of serving the adjacent customer with reliable deliveries. One further observation is that investment in infrastructure is to a great extent made through public funding, as supplier parks are typically ‘produced spaces’ in order to support the car–makers in the region. Les relations d’approvisionnement se sont profondément transformées au cours des deniers décennies dans l’industrie automobile. L’externalisation croissante et la modularisation associés à la gestion Juste–à–temps ont accentué le rôle de la logistique dans l’organisation du processus de production. Dans ce contexte, cet article étudie le rôle des parcs de fournisseurs dans l’industrie automobile. L’analyse se fonde sur l’étude approfondie de cinq parcs de fournisseurs localisés en Allemagne, Espagne et Suède. Une des conclusions de ses études de cas est que la logique de proximité est largement associée à la diffusion de la production synchrone, mais aussi à l’importance de la production modulaire et au degré d’externalisation. Ces trois facteurs explicatifs justifient la localisation des équipementiers dans les parcs de fournisseurs. Les cas étudiés mettent aussi en évidence un impact limité de ces complexes sur l’économie locale. La plupart des fournisseurs ne localisent qu’une simple fonction de préparation des sous–ensembles livrés en temps voulu sur les chaînes d’assemblage. Enfin, on peut noter que l’investissement dans l’infrastructure est pour une large part financée sur des fonds publics, les parcs de fournisseurs pouvant être qualifiés d’espaces produits’ afin de consolider l’implantation locale des constructeurs.     

Impacts of back to the land policies

A model of rural-urban migration is formulated for some developing economies. The emphasis is on decision making under uncertainty by the rural household. An income effect which is related to some hypotheses concerning behavior of the household towards risk is included along with a conventional price effect in the model. The impact of back to the land policies on the rate of migration in this model differs from the results of some models by Todaro and Harris and several refinements to the Harris-Todaro model as are nicely summed up in an article entitled ‘Internal Migration and Economic Development: An Overview’ by Lucas. The principal result of this analysis lies in its challenge to the conventional wisdom that back to the land policies necessarily dampen rural exodus.     

A theory of the temporary organization

The idea of the firm as an eternal entity possibly came in with the era of industrialism. In any case, the practical consequences of this idea contrast sharply with many ideas about projects and temporary organizations. Mainstream organization theory is based upon the assumption that organizations are or should be permanent; theories on temporary organizational settings (e.g., projects) are much less prevalent. In this article, we address the need for a theory of temporary organizations, thus seeking to supplement traditional project management wisdom. We also suggest some components of such a theory by elaborating on certain ideas about projects. “Action”, as opposed to “decision”, is one such component which is central to a theory of the temporary organization. In some respects we are thus dealing with antipoles, in other respects with concepts similar to those in established mainstream organizational theory. The role of “time” in the firm is different as compared to its role in the temporary organization. The differences have several important implications and we are able to suggest a coherent outline of a theory which we believe could be useful and which also covers several important aspects of temporary organizations.     

Economic Effects of Taxing Different Organizational Forms under the Nordic Dual Income Tax

This paper analyzes the economic effects of income splitting rules for closely held corporations and sole proprietorships/partnerships under the Nordic dual income tax. Income is split by imputing a return to capital, but the methods used for this differ between the Nordic countries. With a few notable exceptions, income splitting does well in the sense that the cost of capital is approximately the same in closely and widely held corporations. The special tax rules for sole proprietorships/partnerships manage to neutralize the impact of the high labor income tax on the cost of capital.     

Is U.S. money causing China's output?

This paper tries to answer the long-standing question of whether money causes output. Instead of focusing on domestic monetary policy and output, we analyze U.S. monetary policy and its possible effects on real output in China. Our results indicate that the main monetary instrument in the U.S., the Federal Fund Rate, Granger causes China's output. A second monetary variable, U.S. money supply, does not seem to have a significant effect on China's output. The results are supported by variance decompositions, which indicate that Federal Fund Rate shocks have an effect on China's real output. The findings have important implications for policy makers in China that focus on maintaining a high and stable economic growth.