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Hybrid optimization of EDLP and high-low pricing strategies
, On line first: Septmeber, 2024 Hamed Karimi PDF (288 K) |
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Abstract:
In today's fiercely competitive retail landscape, implementing effective pricing strategies is critical not only for boosting sales but also for securing a larger market share and ensuring long-term business sustainability. The ability to capture a greater share of the market directly influences a retailer's positioning and competitive edge, making pricing decisions pivotal. This paper introduces a hybrid optimization model that strategically combines Everyday Low Pricing (EDLP) and High-Low Pricing (HL) strategies, designed to address the intricacies of dynamic retail markets. The model is initially formulated as a nonlinear optimization problem aimed at maximizing sales to increase market share, all while maintaining profitability within a predefined threshold to ensure the retailer does not incur losses. To enhance the model's practical applicability, particularly in small-scale scenarios, the nonlinear problem is transformed into a Mixed-Integer Programming (MIP) model, facilitating its solvability. However, as retail applications scale up, the computational complexity becomes more challenging, necessitating the use of the Grey Wolf Optimization (GWO) algorithm. The GWO algorithm effectively balances computational efficiency with solution quality, making it a robust approach for large-scale problems. A significant contribution of this research is the linearization of the model under conditions where the products designated for High-Low pricing (referred to as 'Golden' products) are predetermined by the retailer. This linearization simplifies the computational process, enabling the model to scale and be applied in large retail settings. Developed in collaboration with a major Iranian supermarket chain, the model leverages real-world data to optimize discount levels and timing across various product categories. Extensive numerical experiments demonstrate the model's effectiveness in increasing sales, thereby contributing to a larger market share while ensuring that profitability remains within acceptable bounds. By providing actionable insights and strategic recommendations, this research offers a practical, scalable solution for optimizing retail pricing strategies in a data-driven and competitive environment, ultimately supporting retailers in their quest to dominate the market.
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Virtual reality platforms for K-12 STEM education
, On line first: July, 2024 Tyler Ward, Jorge A. Ortega-Moody, Sam Khoury, Mykelti Wheatley and Kouroush Jenab PDF (288 K) |
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Abstract:
Providing K-12 students with proper science, technology, engineering, and math (STEM) education is important to ensuring an innovative and prosperous economy. A highly skilled STEM workforce can lead to increased productivity and competitiveness, which can lead to a host of new ideas being researched and developed. STEM workers make added-value products, build bridges and roads, and conduct lifesaving medical research, among other important activities. The use of virtual reality (VR) technology for both education and workforce training has grown in recent years. VR technology can accelerate these processes at maximum efficacy and minimum costs and can have a significant impact on productivity gains, earnings, new jobs, innovation through research and development, and high-growth industries. This paper presents the development of a series of VR modules using the Unity game engine, the HTC VIVE Pro VR headset, and the Hi5 VR glove for the purposes of K-12 STEM education. Specifically, these developed modules have been designed to instruct K-12 students on topics related to motion and heat, with future goals to expand the modules to cover topics related to light, magnetism, electricity, radioactivity, sound, and waves. This paper will cover the methodology and design considerations that went into developing these modules, with a focus on how these modules relate to various learning strategies as well as with existing research on the use of VR in K-12 education.
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Formative evaluation of the regional development planning policies: A study on the consistency of the regional development planning in Kebumen regency
, On line first: July, 2024 Alizar Isna, Soesilo Zauhar, Bambang Supriyono and Hermawan PDF (288 K) |
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This study aims to describe, analyze, and interpret the role of multi-set data consistency in regional development planning in Kebumen Regency, Central Java Province, Indonesia. This study uses qualitative research methods. The selection of informants used purposive and snow-ball sampling. Data collection uses in-depth interviews, observations, and documentation. Data analysis was carried out through open coding, axial coding, and selective coding procedures. The validity of the data is determined through an examination technique based on the criteria of credibility, transferability, dependability, and confirmability. The results of the study show: (1) Regional development planning policies, which regulate the process and stages of the preparation of regional long-term development plans/RPJPD, regional medium-term development plans/RPJMD, and regional development work plans/RKPD were developed in the process of preparing the three regional development planning documents of Kebumen Regency to meet local needs; (2) The process of preparing the 2005–2025 RPJPD, 2006–2010 RPJM, 2010–2015 RPJMD, and 2006 to 2014 RKPD uses a technocratic approach that emphasizes the importance of multi-sector data (3) Factors that affect the process of preparing and documenting regional development planning documents are compliance in the hierarchy of multi-sector existing data administration, the development of regulations for the implementation of regional development planning policies, the existence of existing multi-sector planning data documents national, provincial, and regional development documents related to development planning, as well as the use of technocratic approaches; (4) The 2010–2015 RPJMD is inconsistent with the 2010–2015 RPJPD.
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A machine learning framework for exploring the relationship between supply chain management best practices and agility, risk management, and performance
, On line first: July, 2024 Tyler Ward, Sam Khoury, Selva Staub and Kouroush Jenab PDF (288 K) |
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This study provides a comprehensive analysis of supply chain management practices based on survey responses from a sample of enterprises. Through descriptive statistics, hypothesis testing, predictive modeling, advanced analytics techniques such as classification, clustering, and association rule mining, the research offers valuable insights into key areas of collaboration, quality management, technology adoption, agility, risk management, and customer responsiveness within supply chains. The findings highlight the importance of strategic integration, proactive problem-solving, customer-centric practices, and agility in meeting changing demands. The study also identifies distinct profiles of practice adoption and reveals intricate relationships between different supply chain practices. Overall, the research contributes to a deeper understanding of supply chain dynamics and offers actionable insights for improving operational performance and strategic decision-making.
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Working on projects-career satisfaction of employees stationed on-site at clients’ facilities for project delivery
, On line first: July, 2024 Vathsala Wickramasinghe and Ushani Balasooriya PDF (288 K) |
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The purpose of the study was to investigate factors affecting the career satisfaction of vendors’ employees who perform project tasks on-site at clients’ owned facilities for several years as part of project delivery in Sri Lanka. The study identified six factors that influence the career satisfaction of these employees, namely, work content, financial rewards and other gains, work relationships, supervisor support, general working conditions, and opportunities experienced due to being stationed at clients’ firms. Overall, the study context is novel and the findings make contributions to the advancement of project management literature and practice.
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Proposing a level of maturity in strategic sourcing: A case study and survey in Brazil
, On line first: June, 2024 Thiago Konrath, Fabiano Nunes, Cristine H. Nodari and Ana Lucia Miranda PDF (288 K) |
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The objective of this study is to propose an instrument for identifying the level of maturity of purchasing and supply management in relation to Strategic Sourcing. Based on an initial model, a maturity measurement instrument was applied to a case study company in a chemical industry company in Vale dos Sinos, in order to validate the tool. Based on this, a survey was carried out with the aim of capturing the perception of purchasing professionals on the topic. By sending a questionnaire to 250 professionals in the purchasing and supply management area, a return rate of 28% (70 respondents) was obtained from this sample. For the data obtained, structural equation modeling (SEM) was carried out using Smart PLS 3.0® software. With the modeling, a load of 0.428 was obtained for the suppliers construct, 0.555 for the inventory construct and 0.158 for the indicators construct. Overall, the satisfactory constructs for this sample positively impact 67.8% on the Strategic Sourcing construct. Therefore, for this specific sample, the constructs referring to suppliers, inventory and indicators jointly impact Strategic Sourcing. The research in question proposed a model for a better understanding of Strategic Sourcing structures and aims to contribute to practical and organizational contexts regarding the maturity of this topic among purchasing professionals. This understanding aims to provide readers with greater empirical and academic understanding of this emerging and important topic for business and company competitiveness.
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Resource-based view theory and its applications in supply chain management: A systematic literature review
, On line first: June, 2024 Robert Agwot Komakech, Thomas Ogoro Ombati, Reuben Wambua Kikwatha and Michael Githii Wainaina PDF (288 K) |
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This systematic literature review critically examines the application of the Resource-Based View (RBV) theory within Supply Chain Management (SCM) across various industries. Developed by Jay B. Barney in 1991, RBV posits that a firm's sustained competitive advantage is driven by its unique resources and capabilities that are valuable, rare, inimitable, and non-substitutable. RBV suggests that a company’s long-term competitive advantage stems from its distinct resources and capabilities, which are valuable, rare, difficult to imitate, and not easily substitutable. Despite extensive utilization in strategic management, the direct application of RBV in SCM has been less explored, particularly in understanding how specific internal resources enhance SCM capabilities and outcomes. The review adopts a systematic approach, analyzing 97 peer-reviewed articles from diverse journals. This method includes a comprehensive search and evaluation process, ensuring the inclusion of significant studies that discuss the application of RBV in SCM across various industries. The articles were sourced from Scopus databases, with keywords related to RBV and SCM to ensure thorough topic coverage. The findings indicate a pronounced increase in related publications since 2010, reflecting a growing scholarly and practical interest in RBV’s application to SCM. The findings revealed that emerging trends like integrating advanced technologies like Blockchain, Artificial Intelligence and the Internet of Things are identified as strategic resources that redefine competitive landscapes by enhancing transparency, responsiveness and responsiveness within supply chains. The review also highlights the increasing importance of sustainability practices within SCM, aligning with RBV to potentially offer a sustainable competitive advantage. Conclusively, this review contributes to both academic knowledge and guides practitioners toward leveraging internal resources strategically to navigate contemporary challenges, setting a foundation for future inquiries into global supply chain resilience and dynamic capabilities.
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HEIs service quality as a predictor of students’ satisfaction affecting academic performance: The extension of the Embryonic HESQUAL model
, On line first: March, 2024 Kamrunnahar Happy, Nafiza Islam and Rabbir Rashedin Trino PDF (288 K) |
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To question the dominanceof the dimensions of service quality using the embryonic HESQUAL model onstudents' satisfaction. Besides, the study will identify the mediating effect ofa department’s commitment and a moderating effect of self-efficacy on therelationship between students’ satisfaction and academic performance. The study was a one-time dimensionaland used a simple random sampling method which is suitable for quantitativestatistical analysis and homogeneous populations in nature. Analysis resultingfrom SmartPLS by using 431 responses from undergraduate and graduate students of public universities inBangladesh. The study found that students arefocused on core educational qualities and physical environmental facilities tobe satisfied. Thoroughly,students' satisfaction has a direct impact on academic performance butsurprisingly no moderating precedence of self-efficacy on the connectionbetween student satisfaction and academic performance was seen. Noticeably, theextension of the HESQUAL model of department commitment finds significant influenceson both satisfaction and academic performance. However, the modified HESQUEL will quantify thequality dimensions in higher education, and its application in this study candepict a greater understanding of the quality dimensions required to beprioritized by university authorities and policymakers.
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