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The bullwhip effect in supply chains: Review of recent development
, Pages: 81-84 Elham Rafati PDF (650K) |
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Abstract: The bullwhip effect happens whenever the demand order fluctuations in the supply chain (SC) escalate as they are transferred up the SC. In fact, a small change in point-of-sale demand may be interpreted by SC participants as a much bigger variability in demand. This looks like a cracking a whip, where a small flick of the wrist may yield a large motion at the end of the whip. Misstate data from one side of a SC to the other part may yield substantial sloppiness. This includes increase in inventories, shortage of cash flow, weak customer satisfaction, etc. Enterprises may efficiently reduce the bullwhip effect by completely learning its root causes. This paper presents an overview on the concept and recent development of the bullwhip effect. DOI: 10.5267/j.jfs.2022.9.007 Keywords: Bullwhip effect, Supply chain, Demand variability, Supply chain disruption
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Boosting operational performance through logistics drivers: Evidence from manufacturing industry
, Pages: 85-96 Mintesnot Abay Miteku, Bahayilu Dessalegn WoldSilase and Endris Ali Dawed PDF (650K) |
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Abstract: The aim of the study was to examine the impact of logistics drivers on the operational performance of large manufacturing industries in Ethiopia. To this end, the researchers employed an explanatory research design with a mixed approach. To select the case industries the researchers used the census sampling technique and stratified sampling technique for respondents’ selection. Both primary and secondary data were accessed about the issue to analyze. After the data collection process, the study used a partial least square structural equation model (PLS-SEM) to find the relationships between the hypothesized constructs. In this study, inferential analysis was made with the support of smart PLS software. The result of the finding depicts that the product of R2 Value specifies that 69.1% of enhancement in an endogenous variable (i.e., Operational performance) is caused by the joint results from the exogenous variable (i.e. Transportation, Inventory, and facility Management). The finding also shows that there are raw materials and currency problems that made the industries produce below their capacity. DOI: 10.5267/j.jfs.2022.9.008 Keywords: Logistics drivers, Transportation, Inventory, Facility, Operational performance
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Investigating the effect of US dollar, gold and oil prices on the stock market
, Pages: 97–104 Hossein Ghanbari, Amir Mohammad Larni Fooeik, Amirhossein Eskorouchi and Emran Mohammadi PDF (650K) |
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Abstract: The capital market, as one of the main components of the financial markets, plays an important role in the economic development of countries. As financial markets become more globalized through the free flow of capital and international trade, price fluctuations in financial assets also affect other assets and markets. Due to the high impact of foreign exchange, gold, and oil markets on other financial markets, this study examined the impact of these markets on the Tehran Stock Exchange market from April 2015 to March 2021. In this regard, US dollar, ounces of gold, and crude oil are used as independent variables, and Tehran Price Index (TEPIX) is considered as a dependent variable. The results of the final model indicate that the prices of dollars, gold, and oil had significant effects on the total price index of the Tehran Stock Exchange. DOI: 10.5267/j.jfs.2022.9.009 Keywords: US dollar, Gold price, Oil price, Tehran Price Index (TEPIX), Tehran Stock Exchange
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Analyzing the effects of global oil, gold and palladium markets: Evidence from the Nasdaq composite index
, Pages: 105-112 Amir Mohammad Larni Fooeik, Hossein Ghanbari, Mina Bagheriyan and Emran Mohammadi PDF (650K) |
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Abstract: The capital market is one of the most critical pillars of financial markets, which plays an important role in countries' economies. With the increasing development of international trade and the free flow of capital, financial asset prices spread to other assets. The extend is increasing with the expansion of communication networks as well as the close connection of financial markets to each other. Therefore, the state of a market is not only specific to itself but also affects other financial markets. Global oil, gold, and basic metal prices, including palladium, significantly influence the American financial markets. Due to the importance of the Nasdaq index for investors' investment decisions, this study analyzes the impact of oil, gold, and palladium metal prices on the Nasdaq index monthly between 2016 and 2021. Based on the final model, the oil and gold markets significantly impact the Nasdaq index, while palladium has a less significant impact. DOI: 10.5267/j.jfs.2022.9.010 Keywords: Crude Oil Price, Gold Price, Palladium Price, Nasdaq Index
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Greek health system efficiency and productivity: A window DEA and Malmquist method measurement
, Pages: 113–124 Georgios I. Farantos and Nikitas-Spiros Koutsoukis PDF (650K) |
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Abstract: To calculate the change in the values of efficiency and productivity of public hospitals in Greece during the period 2015 to 2019. The calculation of the efficiency values includes the technical, pure and scale efficiency using the window-DEA method and the productivity change using the Malmquist index. The source of the data used to calculate the change in the efficiency of Greek public hospitals is the statistical databases of the Greek Ministry of Health that have resulted from the collection of data through Information Systems in combination with data provided by the Greek Statistical Authority (ELSTAT). The design of the study was based on the realization of a Window DEA study and the calculation of the Malmquist index with its components. The study was designed to measure the change in efficiency and productivity but over a relatively long period of time. The data were obtained from the databases of both financial and operational data of Greek Public Hospitals held by the Greek Ministry of Health and located on the Ministry’s website. Also, additional data were requested and obtained from ELSTAT. The data were examined and those which were appropriate for the conduct of the study were selected. The technical efficiency of Greek hospitals follows a slightly upward trend with ups and downs. Their pure efficiency follows a steady course with ups and downs. Scale efficiency is on an upward course. Productivity exhibits an overall negligible change. The research’s fluctuation of the inputs and outputs determines the change in the values of efficiency and, in combination with technological change, of productivity. During the period under study, the best placement of Greek hospitals on the scale is achieved in terms of their size. Hospital management cannot achieve better utilization of resources. A parallel increase of some of the inputs and outputs prevents increase in the values of technical and pure efficiency. The change in efficiency constrains the change in productivity. DOI: 10.5267/j.jfs.2022.10.001 Keywords: Efficiency, Data Envelopment Analysis (DEA), Window-DEA, Malmquist index, Greek hospitals
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