Investigating interdependencies of sustainable supplier selection criteria: an appraisal using ISM

2020 ◽  
Vol 13 (2) ◽  
pp. 195-210 ◽  
Author(s):  
Avanish Singh Chauhan ◽  
Gaurav Kumar Badhotiya ◽  
Gunjan Soni ◽  
Prem Kumari
Keyword(s):  
Supplier Selection ◽  
Selection Criteria ◽  
Local Community ◽  
Pollution Prevention ◽  
Content Type ◽  
The Past ◽  
Micmac Analysis ◽  
Sustainable Supplier Selection ◽  
Social Environmental ◽  
Practical Implications

Purpose Because of the increased global competition and the need for environment consciousness, organisations have started focusing on incorporating sustainability dimensions into suppler selection criteria. In the past decade, sustainable supplier selection has received much attention from researchers as well as industry practitioners. The purpose of this paper is to identify various sustainable supplier selection criteria (SSSC) and underlying interdependencies among prominent selection criteria to develop a framework for sustainability dimensions. Design/methodology/approach The sustainable criteria for supplier selection were established through comprehensive literature review. An interpretive structural modelling (ISM) approach is used to investigate the interrelationships among these criteria. Findings A total of 21 SSSC under 3 dimensions (social, environmental and economic) are established. Ten criteria related to quality, capability, flexibility, waste management, pollution prevention, local community, employment practice, labour, etc. are exhibiting strong driving as well as dependence power, as demonstrated through ISM and matriced’ impacts croises-multiplication applique’ and classement (MICMAC) analysis. The findings show that delivery/service, eco design and rights of stakeholders are the “key” criteria having a high-driving and low-dependence power. These criteria require high attention from managers, while other criteria having low-driving and high-dependence power require secondary actions. Research limitations/implications The inter-relations for the development of ISM model and MICMAC analysis were obtained through the opinion of industry experts and academicians, which may tend to be subjectively biased. Further exploration is proposed to statistically validate the developed interdependency model. Practical implications This paper might act as a reference for the supplier development managers of organisations by providing an appraisal of various SSSC based on their interdependencies. Originality/value This study contributes to the knowledge base by proposing a framework of the interrelationships of the SSSC and also provides an additional perspective for managing these criteria based on ISM.

Modelling the supplier selection process enablers using ISM and fuzzy MICMAC approach

2015 ◽  
Vol 30 (5) ◽  
pp. 536-551 ◽  
Author(s):  
Sudarshan Kumar ◽  
Shrikant Gorane ◽  
Ravi Kant
Keyword(s):  
Questionnaire Survey ◽  
Supplier Selection ◽  
Design Methodology ◽  
Selection Process ◽  
Model Development ◽  
Top Management ◽  
Content Type ◽  
Micmac Analysis ◽  
Fuzzy Micmac ◽  
Practical Implications

Purpose – The purpose of this paper is to present an approach to successful supplier selection process (SSP) by understanding the dynamics between SSP enablers (SSPEs), using interpretive structure modelling (ISM) methodology and find out driving and the dependence power of enablers, using fuzzy MICMAC (Matriced’ Impacts Croisés Appliquée á un Classement) analysis. Design/methodology/approach – The group of experts from industries and the academics were consulted and ISM is used to develop the contextual relationship among various SSPEs for each dimension of supplier selection. The results of the ISM are used as an input to the fuzzy MICMAC analysis to identify the driving and the dependence power of SSPEs. Findings – The research presents a hierarchy-based model and mutual relationships among SSPEs. The research shows that there is a group of SSPEs having a high driving power and low dependence, which requires maximum attention and is of strategic importance, while another group consists of those SSPEs that have high dependence and low driving power, which requires the resultant actions. Research limitations/implications – The weightage obtained for the ISM model development and fuzzy MICMAC are obtained through the judgment of academician and few industry experts. It is the only subjective judgment and any biasing by the person who is judging the SSPEs might influence the final result. A questionnaire survey can be conducted to catch the insight on these SSPEs from more organizations. Practical implications – This category provides a useful tool for top management to differentiate between independent and dependent SSPEs and their mutual relationships which would help them to focus on those key SSPEs that are most significant for effective supplier selection. Originality/value – Arrangement of SSPEs in a hierarchy, the categorization into the driver and dependent categories, and fuzzy MICMAC are an exclusive effort in the area of supplier selection.

Supplier selection using SWARA and WASPAS – a case study of Indian cement industry

2020 ◽  
Vol 24 (2) ◽  
pp. 243-265 ◽  
Author(s):  
Rohit Kumar Singh ◽  
Sachin Modgil
Keyword(s):  
Supplier Selection ◽  
Selection Criteria ◽  
Supplier Management ◽  
Cement Industry ◽  
Ratio Analysis ◽  
Content Type ◽  
Product Assessment ◽  
The Relationship ◽  
Practical Implications

Purpose This paper aims to evaluate and prioritize the key supplier selection indicators and to establish the relationship between available alternatives and selected indicators by using step-wise weight assessment ratio analysis (SWARA) and weighted aggregated sum product assessment (WASPAS). Design/methodology/approach Authors have extracted the supplier selection criteria from literature and used a combined SWARA-WASPAS method to evaluate and rank the criteria’s. SWARA is applied for evaluating and weighting selection criteria, whereas WASPAS helped in evaluating different available alternatives based on supplier selection indicators. Findings Finding from SWARA suggests that supplier management is the high weighted criteria followed by information sharing and joint actions. WASPAS was used to evaluate the available alternatives and supplier A1 got the highest priority. Additionally, sensitivity analysis indicates the different scenarios for the best supplier selection. Practical implications Working executives can use the SWARA for assessment of weights of finalized indicators for their firm in the cement industry. Further, the calculated weights can be used for product and sum weightage through WASPAS to finalize the best supplier. Originality/value The originality of the manuscript lies in the sector and methodology. Author(s) applied the SWARA and WASPAS method for supplier selection in the Indian cement industry that will help working executives to evaluate their supply chain partners.

An integrated approach based on the decision-theoretic rough set for resilient-sustainable supplier selection and order allocation

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pengyun Zhao ◽  
Shoufeng Ji ◽  
Yaoting Xue
Keyword(s):  
Rough Set ◽  
Supplier Selection ◽  
Integrated Approach ◽  
Improved Genetic Algorithm ◽  
Vikor Method ◽  
Order Allocation ◽  
Content Type ◽  
Sustainable Performance ◽  
Sustainable Supplier Selection ◽  
Practical Implications

PurposeThe purpose of this paper is to propose an innovative integration method based on decision-theoretic rough set and the extended VlseKriterijuska Optimizacija I Komoromisno Resenje (VIKOR) methods to address the resilient-sustainable supplier selection and order allocation (SS/OA) problem.Design/methodology/approachSpecifically, a two-stage approach is designed in this paper. First, the decision-theoretic rough set is employed to calculate the rough number for coping with the subjective uncertainty of data and assigning the weights for a resilient-sustainable evaluation criterion. On this basis, the supplier resilient-sustainable performance is ranked in combination with the extended VIKOR method. Second, a novel multi-objective optimization model is proposed that applies an improved genetic algorithm to select the resilient-sustainable supplier and allocate the corresponding order quantity under a multi-tier supplier network.FindingsThe results reveal that joint consideration of resilience and sustainability is essential in the SS/OA process. The method proposed in this study based on decision-theoretic rough sets and the extended VIKOR method can handle imprecise information flexibly, reduce information loss and obtain acceptable solutions for decision-makers. Numerical cases validate that this integrated approach can combine resilience and sustainability for effective and efficient SS/OA.Practical implicationsThis paper provides industry managers with a new perspective on SS/OA from a resilience and sustainability perspective as a basis for best practices for industry resilience and sustainability. The proposed method helps to evaluate the resilient-sustainable performance of potential suppliers, which is applicable to solving real-world SS/OA problems and has important practical implications for the resilient-sustainable development of supply chains.Originality/valueThe two interrelated priorities of resilience and sustainability have emerged as key strategic challenges in SS/OA issues. This paper is the first study of this issue that uses the proposed integrated approach.

FINRA’s disciplinary actions in 2017: increased restitution ordered with minimal changes in number of cases

2018 ◽  
Vol 19 (2) ◽  
pp. 19-23
Author(s):  
Brian Rubin ◽  
Adam Pollet
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Disciplinary Actions ◽  
Financial Industry ◽  
Electronic Communications ◽  
Content Type ◽  
The Past ◽  
Expert Analysis ◽  
Research Analysts ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond. Design/methodology/approach The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues. Findings In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years. Practical implications Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought. Originality/value This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

The public-private partnership valuation paradox

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Stephen Gray ◽  
Jason Hall ◽  
Grant Pollard ◽  
Damien Cannavan
Keyword(s):  
Mathematical Proof ◽  
Systematic Risk ◽  
Cash Flows ◽  
Current Theory ◽  
Apparent Paradox ◽  
Content Type ◽  
The Public ◽  
The Past ◽  
Alternative Approaches ◽  
Practical Implications

Purpose In the context of public-private partnerships (PPPs), it has been argued that the standard valuation framework produces a paradox whereby government appears to be made better off by taking on more systematic risk. This has led to a range of approaches being applied in practice, none of which are consistent with the standard valuation approach. The purpose of this paper is to demonstrate that these approaches are flawed and unnecessary. Design/methodology/approach The authors step through the proposed alternative valuation approaches and demonstrate their inconsistencies and illogical outcomes, using theory, logic and mathematical proof. Findings In this paper, the authors demonstrate that the proposed (alternative) approaches suffer from internal inconsistencies and produce illogical outcomes in some cases. The authors also show that there is no problem with the current accepted theory and that the apparent paradox is not the result of a deficiency in the current theory but is rather caused by its misapplication in practice. In particular, the authors show that the systematic risk of cash flows is frequently mis-estimated, and the correction of this error solves the apparent paradox. Practical implications Over the past 20 years, PPP activity around the globe amounts to many billions of dollars. Decisions on major infrastructure funding are of enormous social and economic importance. Originality/value To the best of the authors’ knowledge, this study is the first to demonstrate the flaws and internal inconsistencies with proposed valuation framework alternatives for the purposes of evaluating PPPs.

Sustainable circular supplier selection and evaluation in the manufacturing sector using Pythagorean fuzzy EDAS approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chang Liu ◽  
Pratibha Rani ◽  
Khushboo Pachori
Keyword(s):  
Decision Making ◽  
Human Behavior ◽  
Circular Economy ◽  
Supplier Selection ◽  
Manufacturing Sector ◽  
Uncertain Information ◽  
Manufacturing Companies ◽  
Content Type ◽  
Sustainable Supplier Selection ◽  
Selection Of

PurposeDue to stern management policies and increased community attentiveness, sustainable supply chain management (SSCM) performs a vast component in endeavor operation and production management. Sustainable circular supplier selection (SCSS) and evaluation presented the environmental and social concerns in the fields of circular economy and sustainable supplier selection. Choosing the optimal SCSS is vital for organizations to persuade SSCM, as specified in various researches. Based on the subjectivity of human behavior, the selection of ideal SCSS often involves uncertain information, and the Pythagorean fuzzy sets (PFSs) have a huge capability to tackle strong vagueness, uncertainty and inaccuracy in the multi-criteria decision-making (MCDM) procedure. Here, a framework is developed to assess and establish suitable suppliers in the SSCM and the circular economy.Design/methodology/approachThis paper introduced an extended framework using the evaluation based on distance from average solution (EDAS) with PFSs and implemented it to solve the SCSS in the manufacturing sector. Firstly, the PFSs to handle the uncertain information of decision experts (DEs) is employed. Secondly, a novel divergence measure and parametric score function for calculating the criteria weights are proposed. Thirdly, an extended decision-making approach, known as PF-EDAS, is introduced.FindingsThe outcomes and comparative discussion show that the developed method is efficient and capable of facilitating the DEs to choose desirable SCSS. Therefore, the proposed framework can be used by organizations to assess and establish suitable suppliers in the SCSS process in the circular economy.Originality/valueSelecting the optimal sustainable circular supplier (SCS) in the manufacturing sector is important for organizations to persuade SSCM, as specified in various research. However, corresponding to the subjectivity of human behavior, the selection of the best SCS often involves uncertain information, and the PFSs have a huge capability to tackle strong vagueness, uncertainty and inaccuracy in the MCDM procedure. Hence, manufacturing companies' administrators can implement the developed method to assess and establish suitable suppliers in the SCSS process in the circular economy.

Recent civil and criminal enforcement action involving high frequency trading

2015 ◽  
Vol 16 (1) ◽  
pp. 5-12 ◽  
Author(s):  
Matthew Rossi ◽  
Greg Deis ◽  
Jerome Roche ◽  
Kathleen Przywara
Keyword(s):  
High Frequency ◽  
Design Methodology ◽  
High Frequency Trading ◽  
Content Type ◽  
Enforcement Action ◽  
The Past ◽  
Trading Patterns ◽  
Federal Prosecutor ◽  
Enforcement Activity ◽  
Practical Implications

Purpose – To alert high frequency trading firms to the increased regulation and prosecution of manipulative trading practices during 2014 and early 2015. Design/methodology/approach – Reviews four significant proceedings against high frequency trading firms (and/or individuals employed by such firms) and other developments from the relevant government agencies as a possible preview of the enforcement and prosecution of high frequency trading practices in 2015. Provides advice to high frequency trading firms on how to decrease the risk of regulatory or criminal actions against them in this changing environment. Findings – Although the focus on high frequency trading has only recently begun to intensify, firms should be aware of the increased enforcement activity of the past year. These actions, both regulatory and criminal, have already resulted in large penalties and have helped initiate a strengthening of rules and regulations regarding manipulative trading practices, of which firms need to be aware and stay current. Practical implications – High frequency trading firms should be aware of the recent regulatory and criminal actions in order to better evaluate their own practices and controls, to ensure that their trading patterns do not resemble manipulative practices, and to avoid similar actions. Originality/value – Practical guidance from experienced litigators and securities regulatory lawyers, including a former SEC Assistant Chief Litigation Counsel and a former federal prosecutor, that consolidates and describes several recent actions and developments in one piece.

scholarly journals Sustainable procurement practices in the supplier selection process: an exploratory study in the context of Brazilian manufacturing companies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alex Moysés Barbanti ◽  
Rosley Anholon ◽  
Izabela Simon Rampasso ◽  
Vitor William Batista Martins ◽  
Osvaldo Luiz Gonçalves Quelhas ◽  
...  
Keyword(s):  
Supplier Selection ◽  
Local Community ◽  
Manufacturing Sector ◽  
Selection Process ◽  
Correlation Method ◽  
Manufacturing Companies ◽  
Content Type ◽  
Sustainable Procurement ◽  
Starting Point ◽  
Criteria Importance

Purpose This paper aims to evaluate the adoption of sustainable procurement practices adopted by Brazilian manufacturing companies in supplier selection; additionally, it is aimed to understand which of these practices enable a better differentiation of the analysed companies. Design/methodology/approach A systematic literature review was performed to compose the theoretical base of this research. In addition, a detailed study of ISO 20400 standard was conducted. The guidelines of ISO 20400 were used as a base to structure a questionnaire used in a survey with professionals working in procurement sphere of manufacturing companies in Brazil. The data were analysed via frequency and CRITIC (Criteria Importance Through Intercriteria Correlation) method. Findings A moderate dispersion in the adoption level of sustainable procurement practices in supplier selection process of the manufacturing companies was observed; in practices associated with social aspects, the dispersion is greater. A negative issue to be highlighted is that almost 20% of analysed companies did not even considered in their supplier selection process if their candidates accomplish philanthropic activities, generate jobs in local community and fulfill the Universal Declaration of Human Rights of United Nations (UN). Those two last practices are the ones with the best capacity to differ the companies in the sample. Originality/value There are few studies that focuses on understanding the adoption of sustainable procurement practices in manufacturing companies' supplier selection process. The main contribution of this study to the literature is to evidence that social requirements in supplier selection process are considered in a clear and well-structured form only by few Brazilian manufacturing companies. Despite the sample size, companies analysed in this research are prominent organisations in manufacturing sector. Thus, if this situation occurs in these companies, a more critical scenario will be evidenced in other organisations. This study has implication for practice and academy. For companies' managers, information present here can be used to debate the theme in the organisational context and the nine practices and scale can be used to perform a critical analysis of company's practices. For researchers, the information present here can be used as starting point for futures studies.

State of the Canadian hospitality and tourism industry

2017 ◽  
Vol 9 (4) ◽  
pp. 381-390
Author(s):  
Chandana (Chandi) Jayawardena ◽  
Altaf Sovani ◽  
Alanna MacDonald
Keyword(s):  
Tourism Industry ◽  
Theme Issue ◽  
Content Type ◽  
Tourism Marketing ◽  
The Past ◽  
Labour Shortage ◽  
Hospitality And Tourism ◽  
Hospitality And Tourism Industry ◽  
Marketing Budgets ◽  
Practical Implications

Purpose This paper aims to provide a backdrop to the Worldwide Hospitality Themes (WHATT) theme issue (volume 9, issue 4) on aspects of the hospitality and tourism industry of Canada. Design/methodology/approach Canadian hospitality and tourism educators and their counterparts in the industry have collaborated periodically to discuss the challenges they face and to find practical solutions. Outcomes of ten key initiatives in Canada during the past 15 years that brought leaders of the hospitality and tourism industry and academia together to create 50 academic papers are summarized. Findings This paper provides key information on Canada, its people, its economic conditions and the challenges of the five sectors of the tourism industry in Canada. By introducing the main challenges faced by each sector, this paper provides a foundation for the other articles that follow in this WHATT theme issue. Practical implications Canadian tourism is losing ground, tourism marketing budgets are significantly reducing and there is a labour shortage crisis which are identified as key challenges requiring urgent attention. In conclusion, the authors suggest practical solutions. Originality/value Readers who are interested in the Canadian hospitality and tourism industry will find this paper to be of interest.

The changed paradigm of business progress: a moral step forward for humanity

2018 ◽  
Vol 26 (3) ◽  
pp. 181-193
Author(s):  
Joan Marques
Keyword(s):  
Design Methodology ◽  
Management Practices ◽  
Leadership Skills ◽  
First Century ◽  
Competitive Environment ◽  
Business Leadership ◽  
Content Type ◽  
The Past ◽  
Past Experiences ◽  
Practical Implications

Purpose Through an overview of the perceptional evolution of progress over the past two centuries, this paper aims to review a changed, yet constructive paradigm that has emerged in business leadership. Design/methodology/approach The paper is a general review-based deliberation presenting standards of the twentieth century, the need for a shift in paradigms and the shift as it unfolds in the twenty-first century. Findings Focusing on optimal stakeholder inclusion, yet not disregarding the concept of progress in a competitive environment, this paper presents a set of interrelated leadership skills and characteristics, including a discussion about their applicability and ways to develop them. Research limitations/implications While globally applicable, the views in this paper are primarily based on the American performance environment. Practical implications Management practices would not have evolved to today’s level if we did not have the past experiences to learn from. The deliberations and insights shared in this article should be seen as a way of evaluating the path that led us to our current, multi-tiered leadership paradigm. Social implications The model presented in this article should be seen as a useful, yet incomplete set of skills and characteristics to be considered by today’s and future leaders to ensure greater stakeholder inclusion. Originality/value Within the framework of focusing on the management horizon, this paper places the driving motives of two centuries that influenced our current society alongside each other and contemplates on the necessary shifts needed to move forward.

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