Demand Uncertainty and Efficiency PDF Download
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Author: Benjamin Eden
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Benjamin Eden
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Category :
Languages : en
Pages :
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Author: Terrence M. Belton
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 40
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Author: Walter Timothy Rhodus
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ISBN:
Category : Resource allocation
Languages : en
Pages : 194
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Author: Mark Wipprich
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Author: Jing Liang
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ISBN:
Category :
Languages : en
Pages : 0
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Global business practice shows that firms tend to maintain more financial slack during the time with volatile demand. But whether holding excess financial resources translates to better operational efficiency in an uncertain environment is an open question. Intuitively, financial slack is considered to alleviate the impact of demand uncertainty by providing a buffer, which can be committed to adjusting operations in dealing with demand uncertainty. However, agency theory suggests that financial slack may lead to agency problems, which amplifies the negative relationship between demand uncertainty and operational efficiency. These two views seem contradictory. Based on a sample of 1,176 U.S. companies from 2000 to 2021, we investigate whether financial slack alleviates or exacerbates the impact of demand uncertainty on firms' operational efficiency. We define operational efficiency as the conversion efficiency of a firm's input to output in an improved production function, which we use stochastic frontier analysis (SFA) methodology to estimate. Our analysis find that demand uncertainty hurts firms' operational efficiency, and this negative effect is further pronounced for companies with greater financial slack. This result confirms the risk-exacerbating role of financial slack. Additional tests revealed that managers with greater financial slack show poorer cost management performance instead of more investment when facing severer demand uncertainty. Our study contributes to the literature by providing a better understanding of financial slack's role in operational management.
Author: Hong Ngoc Nguyen
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Category :
Languages : en
Pages :
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Author: Abdessalem Hichri
Publisher:
ISBN:
Category :
Languages : en
Pages : 240
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Author: Dmitry Ivanov
Publisher: Springer
ISBN: 3030143023
Category : Business & Economics
Languages : en
Pages : 332
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This book offers an introduction to the ripple effect in the supply chain for a broad audience comprising recent developments. The chapters of this handbook are written by leading experts in supply chain risk management and resilience. For the first time, the chapters present in their synergy a multiple-faceted view of the ripple effect in supply chains, while considering organization, optimization, and informatics perspectives. Ripple effect describes the impact of a disruption propagation on supply chain performance, structural designs and operational parameters. The ripple effect manifests when the impact of a disruption cannot be localized and cascades along the supply chain. The resulting structural dynamics can lead to capacity and demand fulfilment downscaling and negatively influence the firm’s financial and operational performance. The book delineates major features of the ripple effect and methodologies to mitigate the adverse impact of supply chain disruption propagation and to recover in case of severe disruptions. The book provides fresh insights for supply chain management and engineering regarding the following questions: - In what circumstance does one failure cause other failures? - Which structures of the supply chain are especially susceptible to the ripple effect? - What are the typical ripple effect scenarios and what are the most efficient ways to respond them? Distinctive Features: • It considers ripple effect in the supply chain from an multi-disciplinary perspective• It offers an introduction to ripple effect mitigation and recovery policies in the framework of disruption risk management in supply chains for a broad audience• It integrates management and engineering perspectives on disruption risk management in the supply chain• It presents innovative optimization and simulation models for real-life management problems• It considers examples from both industrial and service supply chains• It reveals decision-making recommendations for tackling disruption risks in the supply chain in proactive and reactive domains.
Author: Chia-Yen Lee
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Category :
Languages : en
Pages :
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Demand fluctuations will bias the measurement of productivity and efficiency. This dissertation described three ways to characterize the effect of demand fluctuations. First, a two-dimensional efficiency decomposition (2DED) of profitability is proposed for manufacturing, service, or hybrid production systems to account for the demand effect. The first dimension identifies four components of efficiency: capacity design, demand generation, operations, and demand consumption, using Network Data Envelopment Analysis (Network DEA). The second dimension decomposes the efficiency measures and integrates them into a profitability efficiency framework. Thus, each component's profitability change can be analyzed based on technical efficiency change, scale efficiency change and allocative efficiency change. Second, this study proposes a proactive DEA model to account for demand fluctuations and proposes input or output adjustments to maximize effective production. Demand fluctuations lead to variations in the output levels affecting measures of technical efficiency. In the short-run, firms can adjust their variable resources to address the demand fluctuates and perform more efficiently. Proactive DEA is a short-run capacity planning method, proposed to provide decision support to a firm interested in improving the effectiveness of a production system under demand uncertainty using a stochastic programming DEA (SPDEA) approach. This method improves the decision making related to short-run capacity expansion and estimates the expected value of effectiveness given demand. In the third part of the dissertation, a Nash-Cournot equilibrium is identified for an oligopolistic market. The standard assumption in the efficiency literature that firms desire to produce on the production frontier may not hold in an oligopolistic market where the production decisions of all firms will determine the market price, i.e. an increase in a firm's output level leads to a lower market clearing price and potentially-lower profits. Models for both the production possibility set and the inverse demand function are used to identify a Nash-Cournot equilibrium and improvement targets which may not be on the strongly efficient production frontier. This behavior is referred to as rational inefficiency because the firm reduces its productivity levels in order to increase profits.
Author: Paul H. Jensen
Publisher:
ISBN: 9780734031778
Category : Contracting out
Languages : en
Pages : 27
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