The impact of adopting customization policy and sustainability for improving consumer service in a dual-channel retailing

In recent decades sustainability and dual-route retailing have been adopted by many big industries. Companies are now bound to maintain such strategies that fulfill the sustainable goals developed by the United Nations. Industries face a huge penalty if carbon emissions exceed a certain boundary. Moreover, factories should maintain sufficient flow in retail chains and product quality. This paper demonstrates 3-pillar sustainability in dual channel retailing, empowering firms to integrate the financial-economic pillar with the non-financial (environmental, social, and ethical) pillar. The core product is made available through the traditional channel and customized products are through online channels. The model is enabling the customers with customization provisions where they can influence the products. Thus, as a novel approach, the article incorporates a presumed threshold limit on the product's (standard and customized) selling price difference. Due to customization, a new product is developed which needs extensive quality checks. The study introduces an investment in checking the quality of the customized product which reduces the probability of customization defects exponentially. Additionally, current research adapts the carbon emission cost, penalties charged to a firm for overshooting the limit, and social costs in a smart supply chain. It also exemplifies that production is directly proportional to financial investments in meeting sustainability objectives. The numerical analysis reflects that as production increases, penalty costs decrease at a significant rate but after reaching optimal production penalty cost again starts to increase. It is observed that the downfall of penalty is 20% more for the single-channel than dual. Adaptation of the customization policy makes the retailing strategy more cost-effective. The model exemplifies that it is more economical to adopt dual-channel retailing compared to single-channel as there is approximately a 14.0625% reduction in total cost in dual-channel retailing. Moreover, an 80% improved quality is observed with a financial investment, which improves consumer satisfaction.     

Institutional dynamics and access to non-farm employment in rural China, 1950–1996

This article examines non-farm employment in the context of Chinese rural institutional change, based on evidence from discrete-time logistic models for event history analysis using the Life History and Social Change survey. We find the transition to non-farm sector rose rapidly during the Great Leap Forward and market reform, while the Cultural Revolution saw it reach the lowest ebb. While male advantage prevailed exclusively during the Cultural Revolution and early marketization, education possessed a stable positive effect in all historical periods. Although the returns to different kinds of political capital vary along with institutional dynamics, intergenerational reproduction was greatly reduced after the Cultural Revolution.     

Forecast quality improvement with Action Research: A success story at PharmaCo

There is a gap in the forecasting research surrounding the theory of integrating and improving forecasting in practice. The number of academically affiliated consultancies and knowledge transfer projects that there are around, due to a need for improvements in forecast quality, would suggest that many interventions and actions are taking place. However, the problems that surround practitioner understanding, learning and usage are rarely documented. This article takes the first step toward trying to rectify this situation by using the specific case study of a fully engaged company. A successful action research intervention in the Production Planning and Control work unit improved the use and understanding of the forecast function, contributing to substantial savings, enhanced communication and improved working practices.     

Cognitive ability and human behavior in experimental ultimatum games

Recent researches have shed light on the effect of cognitive ability on economic decision-making. By measuring cognitive ability applying Raven's progressive matrix test, we obtain two significant results that this effect affects decision-making in two types of experimental ultimatum games. First, the higher the cognitive ability, the larger the amount a sender offers when the offer is smaller than or equal to the half split. Second, the higher the responders’ cognitive ability, the smaller the offer they accept, when they accept it or not with the strategy method. This study not only finds new factors that affect decision-making in experimental ultimatum games, but also provides more evidences that cognitive ability influences economic decision-making.     

Blockchain in Additive Manufacturing and its Impact on Supply Chains

Additive manufacturing (AM) appears to be a particularly attractive use case for blockchain. This research combines inductive in‐depth interviews with the Delphi method to explore what potentials blockchain technology in AM creates, which adoption barriers firms need to overcome, and how supply chains will be affected by the integration of these two potentially disruptive technologies. The results suggest opportunities that are related to intellectual property (IP) rights management, the monitoring of printed parts throughout their lifecycle, process improvements, and data security. The most important barriers for blockchain adoption in AM are an absence of blockchain‐skilled specialists on the labor market, missing governance mechanisms, and a lack of firm‐internal technical expertise. By addressing important limitations of AM, blockchain is expected to improve the competitiveness of AM in parts’ production, catalyzing the trend toward more decentralized manufacturing resulting in more agile, resilient, and flexible supply chains and reduced logistics costs. Beyond that, blockchain‐based AM platforms are expected to enhance supply chain visibility, drive supply chain digitalization, support supply chain finance, and contribute to the emergence of shared factory systems.     

Large scale infrastructure investment and economic performance – a case study of Oresund

We analyse the effect of a large scale infrastructure investment, namely the construction of the Oresund bridge, on the local and supra-regional economy. We employ the synthetic control method to construct counterfactual regions that mimic the trajectory of Malmo and Southern Sweden without treatment. Our results point to a positive effect. However, placebo tests in space and time only reveal statistical significance at a larger regional level. The results suggest that spillover effects are eminent.     

Leverage effect on stochastic volatility for option pricing in Hong Kong: A simulation and empirical study

This paper explores the importance of incorporating the financial leverage effect in the stochastic volatility models when pricing options. For the illustrative purpose, we first conduct the simulation experiment by using the Markov Chain Monte Carlo (MCMC) sampling method. We then make an empirical analysis by applying the volatility models to the real return data of the Hang Seng index during the period from January 1, 2013 to December 31, 2017. Our results highlight the accuracy of the stochastic volatility models with leverage in option pricing when leverage is high. In addition, the leverage effect becomes more significant as the maturity of options increases. Moreover, leverage affects the pricing of in-the-money options more than that of at-the-money and out-of-money options. Our study is therefore useful for both asset pricing and portfolio investment in the Hong Kong market where volatility is an inherent nature of the economy.     

电磁精细探测法在隐伏型导水地质裂缝勘探中的应用

针对传统隐伏型导水地质裂缝勘探方法存在勘测精度较差的问题,提出电磁精细探测法探析隐伏型导水地质裂缝。依照屏蔽系数、实测场强和理论场强数据绘制综合曲线图,通过该图获取隐伏型导水地质裂缝所处位置几何阴影范围,采用层析成像法得到网格化的工作面,获取隐伏型导水地质图像。通过图像直接观测隐伏型导水地质工作面裂缝所处位置,在此基础上,观测四个电磁场分量,采用正交电磁场分量计算介质视电阻率,依据计算视电阻率数值和视电阻率分布状态研究裂缝发育情况和裂缝富水程度。结果表明:采用该方法能较为精准地获取隐伏型导水地质裂缝位置。通过裂缝位置进一步检测出隐伏型导水地质裂缝最大发育高度为63.5 m。当视电阻数值不断增加时,隐伏型导水地质裂缝和裂缝富水性逐渐减小,与实际情况较为相符,说明该种方法探析效果较好。     

黄浦江下游吴淞口站低潮位重现期研究

黄浦江为感潮河流,低潮位重现期的确定对黄浦江航道的设计具有重要意义。为了准确估计黄浦江低潮位的重现期,以黄浦江下游吴淞口站年最低潮位序列为例,在对样本进行三性审查的基础上,分别采用传统的数理统计方法和时变矩方法进行水文频率分析。结果表明:吴淞口站年最低潮位序列在1996年发生了变异;还现修正后的序列服从位置参数线性时变的GEV模型,低潮位存在缓慢的上升趋势;一致性条件下百年一遇低潮位约为0.261 m,在非一致性条件下其重现期增大为150 a。非一致性条件下的重现期增大说明黄浦江现有的航道设计标准偏安全,航道通航保证率提高。