International Journal of Management and Decision Making (5 papers in press)
An integrated approach of Fuzzy AHP and fuzzy TOPSIS in modelling Contractual design of supply chain inventory coordination mechanism.
by Mukesh Kumar, Dixit Garg, Ashish Aggrawal
Abstract: In recent decades, firms are facing the challenges of lack of inventory coordination issues in multi echelon inventory coordination environment. Contractual design of supply chain inventory coordination mechanism (SCICM) are necessary for effective and efficient SCM and not merely better profit distribution within supply chain trading partners (SCTPs), but effective coordination mechanism is key necessity for complex supply flow network. SC structure consists of SV and MB, SC for a multi products flow network considered. SCTPs can be coordinated by better contractual design for perfect SCICM. These criteria are namely controllable lead time and asymmetric information; common replenishment epoch; inventory-level-dependent demand rate; VMI system with stock-out cost sharing; sales rebate contract and VMI. FAHP and FTOPSIS approaches can be used to integrate more consistent evaluation and prioritisation of SCTPs based on five SCICM criterion determined by factor analysis of survey data and expert opinion of retail industry. FAHP is used to calculate relative weight of each SCICM criteria and SCP is ranked based on closeness coefficient. Calculated for each partners are using FTOPSIS.
Keywords: Supply chain Inventory coordination; VMI; Supply chain trading partners; Fuzzy logic; Fuzzy AHP; Fuzzy TOPSIS.
An integrated core competence evaluation framework for portfolio management in the oil industry
by Khalid Hafeez, Pantea Foroudi, Bang Nguyen
Abstract: Drawing upon resource-based theory, this paper presents a core competence evaluation framework for managing the competence portfolio of an oil company. It introduces a network typology to illustrate how to form different types of strategic alliance relations with partnering firms to manage and grow the competence portfolio. A framework is tested using a case study approach involving face-to-face structured interviews. We identified purchasing, refining and sales and marketing as strong candidates to be the core competencies. However, despite the company's core business of refining oil, the core competencies were identified to be their research and development and performance management (PM) capabilities. We further provide a procedure to determine different kinds of physical, intellectual and cultural resources making a dominant impact on company's competence portfolio. In addition, we provide a comprehensive set of guidelines on how to develop core competence further by forging a partnership alliance choosing an appropriate network topology.
Keywords: competence portfolio; resource-based view; core competence; resource-asset-capability; network topology; collective learning.
An advanced platform for power system security assessment accounting for forecast uncertainties
by Emanuele Ciapessoni, Diego Cirio, Andrea Pitto, Nicolas Omont, Leonel M. Carvalho, Maria Helena Vasconcelos
Abstract: Accounting for the increasing uncertainties related to forecast of renewables is becoming an essential requirement while assessing the security of future power system scenarios. Project iTesla in the Seventh Framework Program (FP7) of the European Union (EU) tackles these needs and reaches several major objectives, including the development of a security platform architecture. In particular, the platform implements a stochastic dependence model to simulate a reasonable cloud of plausible 'future' states - due to renewable forecast - around the expected state, and evaluates the security on relevant states after sampling the cloud of uncertainty. The paper focuses on the proposed model for the uncertainty and its exploitation in power system security assessment process and it reports the relevant validation results.
Keywords: Nataf transformation; pair copula decomposition; power systems; principal component analysis; renewables; security assessment; uncertainties.
Assessing the impacts of circular economy: a framework and an application to the washing machine industry
by Gianmarco Bressanelli, Marco Perona, Nicola Saccani
Abstract: The literature usually depicts circular economy as a path to embrace sustainability into economic systems. Shifting from a linear to a circular economy leads to environmental and social benefits. However, despite a growing attention from academia, policymakers and businesses, circular economy implementation projects are still scarce. One of the reasons is that circular economy scenarios may be challenging from an economic perspective. In order to spur a transition towards circular economy, new methods to support the assessment of economic, environmental and social impacts of circular economy scenarios are needed. This paper presents a systemic framework to support a simplified evaluation of circular economy scenarios. The framework, developed specifically for durable goods, is applied to the washing machine industry, thanks to a case study. The application results show how the framework adoption may contribute to reduce the uncertainties that are often an obstacle to the transition towards circular economy.
Keywords: circular economy; servitised business model; closed-loop supply chain; washing machine; impact assessment; systematic framework.
The effects on anchoring of increasing quantities of disconfirming evidence
by Tom Downen, Zhan Furner, Bryan Cataldi
Abstract: Anchoring has been shown to influence judgements in a wide variety of contexts, often in a dysfunctional manner (particularly when anchors are deemed unreliable). Identifying methods for mitigating the effects of anchors is important. Our experimental study utilises three abstract settings and arbitrary anchor values. We find strong anchoring effects in initial judgements. Providing disconfirming evidence of moderate helpfulness does, however, reduce the anchoring effects. Specifically, providing one or two items of disconfirming information is shown to have significant incremental benefits in reducing or even eliminating anchoring effects. However, surprisingly, providing three items of disconfirming information, in our setting, did not further reduce anchoring, suggesting some diminishing effect of additional evidence. This is consistent with prior research suggesting that individuals adjust until they are 'close enough', and then stop considering additional information. Our results have implications for a wide variety of judgement contexts, and the results are encouraging in suggesting that a relatively small quantity of disconfirming evidence could be sufficient for overcoming anchoring.
Keywords: anchoring; overcoming anchoring; adjustment; judgement; decision making; disconfirming information; information quantity; diminishing effect.