Optimal safety stock levels of subassemblies and manufacturing components

In order to control the time to market and manufacturing costs, companies produce and purchase many parts and components before receiving customer orders. Consequently, demand forecasting is a critical decision process. Using modular product design and super bills of materials are two effective strategies for developing a reliable demand forecasting process. They reduce the probability of stockouts in diversified production contexts. Furthermore, managing and controlling safety stocks for pre-assembled modules provide an effective solution to the problem of minimizing the effects of forecast errors. This paper develops, evaluates, and applies innovative cost-based analytical models so that the optimal safety stock of modular subassemblies and components in assembly to order and manufacturing to order systems, respectively, can be rapidly quantified. The implementation of the proposed models in two industrial case applications demonstrates that they significantly reduce the safety stock inventory levels and the global logistical cost.     

银行票据业务的新特点与发展建议

进入2011年以来,吉林省银行业票据业务呈快速增长态势。本文分析了在票据业务快速扩张过程中,银行内部控制弱化所带来的潜在风险以及企业间接融资困难加大等问题,并提出相应的建议。     

商业银行票据融资业务现状与思考

受政策调整、市场流动性趋紧以及监管加强等因素的影响,商业银行票据融资业务在近两年经历了较大的起落,这促动商业银行开始对票据融资业务的未来走向进行重新审视。文章分析了当前票据融资市场的发展现状,以及商业银行票据融资的经营模式,并从加强业务创新、完善业务模式、推进系统建设等方面提出商业银行票据融资业务的发展建议。     

基于GBOM的产品族模型改进研究

大规模定制的发展给传统生产计划生成机制造成了很大冲击,GBOM产品族模型在ATO生产模式下显示出了一些不适应性。文章以原有模型为基础,在选择树的选择关系中引入计划百分比,重构出一种可对生产计划辅助预测、灵活约束的GBOM产品族新模型,帮助企业实现事前生产、按单组装的目标。最后以椅子类产品为实例验证新模型有效性,为进一步应用研究奠定基础。     

The implementation of monetary policy in New Zealand: What factors affect the 90-day bank bill rate?

This paper discusses the implementation of monetary policy in New Zealand and its flow-on effects on the 90-day bank bill rate over the 1999–2005 period. The effects of external factors are considered as well. Our findings indicate that the maturity spectrum ratio exerted a positive effect on the 90-day bank bill rate while the allotment ratio did not. This interest rate had a tendency to revert to the level set by its Australian counterpart, though at a relatively slow speed. No such link exists between the NZ 90-day rate and the U.S. 90-day rate. Neither the maturity spectrum nor the allotment ratio contributed to the volatility of the most important short-term interest rate in New Zealand.     

改革开放30年来中国票据市场发展历程回顾

该文首先回顾我国票据市场所经历的推广使用、制度建设和快速发展三个阶段,以及1994年以来我国票据市场发展的主要特征;在此基础上文童进一步分析了我国票据市场发展中存在的主要问题,认为我国票据市场的发展还存在信用基础薄弱、市场主体缺位、品种单一、法规滞后、市场分割明显等问题;进而指出我国票据市场的发展可借鉴英国、日本的市场模式,发挥政府引导和市场调节的各自优势,逐步形成一个稳健有序的票据市场,传递中央银行货币政策。     

国际结算业务中提单日的确定方法探析

在国际贸易实务中,提单因其具有物权凭证的性质而成为各种国际结算方式的重要单据之一。在国际结算实务中许多重要日期(如装运期、交单期、付款期、各种单证的有效期等)起止时间的计算往往都以提单日为依据。因此,正确确定提单日对国际结算业务有着十分重要的作用和影响。     

我国短期融资券募集资金是否存在短融长投——对中国上市公司的实证研究

本文以发行短期融资券的上市公司为样本,用回归分析的方法实证研究了上市公司短期融资券募集资金的使用情况。实证结果显示短期融资券发行额与营运资金增加额呈显著的负相关关系,与长期资产现金支出、以及偿还债务所支付的现金均呈显著的正相关关系。表明上市公司发行短期融资券募集的资金存在短融长投及集中还贷的现象,也就反映了企业利用市场时机进行融资、并用短期资金进行长期投资的行为。这种短融长投的行为可能因为投融资期限不匹配而导致企业财务风险,并给投资者带来一定的兑付风险。     

Assembly FG: An Educational Case on MRP II Integrated within ERP

This case teaches students how discrete (job order) manufacturing companies use Manufacturing Resource Planning (MRP II) within Enterprise Resource Planning (ERP) systems to plan purchase orders for direct materials and shop orders for work‐in‐process and finished goods. Students simulate MRP II integrated within ERP, using Microsoft Excel to learn MRP II's bill‐of‐materials (BOM) Explosion that plans order quantities and MRP II's scheduling logic that uses lead‐times to determine start dates for planned orders. Students explain why MRP II is most practical and effective when executed within ERP and how MRP II can reduce excess inventories, prevent inventory shortages, and help companies deliver quality products to customers on schedule. Also, students explain why BOM, inventory, and lead‐time inaccuracies can adversely affect the accuracy of MRP II‐planned replenishments and identify controls that reduce the risks of these inaccuracies.     

商业银行票据贴现利率的市场化转型——以Shibor为基准的定价模型研究

中国人民银行规定商业银行实行基于再贴现率加点生成贴现利率的票据定价模式。在中国票据市场快速发展过程中,由于货币政策调整和利率市场化进程等因素,使得票据贴现利率波动频繁并逐步显现出基于再贴现利率基准定价模式的缺陷,主要包括贴现利率存在跌破再贴现利率的背离现象、贴现利率定价模式未体现票据市场化程度、再贴现利率的货币传导功能逐步弱化等。本文提出票据贴现利率采取基于Shibor加点差的定价模式具有资金成本依据和契合票据业务特点等方面的优势,并具有推进利率市场化、沟通不同金融市场联系和促进货币政策传导等作用。