An Investigation of a Supply Chain Model for Co-Ordination of Finished Products and Raw Materials in a Production System under Different Situations

In the production system, the production of a perfect item is essential for existing competitive market situations. To produce a perfect finished product, the quality of a raw material is a crucial issue of a production system. This paper has examined this issue with an insightful production-inventory model of the manufacturer of a deteriorating item selling goods to multiple markets with different selling seasons. We have provided an answer strategy to track down the optimal production plan for raw materials and the ideal creation plan for completed items. Transportation cost was incorporated for transporting the raw material. Marketing of the finished product is another crucial factor for selling products and earning revenues. The main objective of the present study is to adopt a production model in inventory for inferring request capacities for multi-item, multi-outlet circumstances. As of late, much accentuation has been given to the consideration of the control and support of creation inventories of disintegrating things. The demand rate is persistent and holding cost is a direct function of time. This paper has followed an analytical approach to diminish the entire inventory cost. Finally, a sensitivity analysis was performed to study the effect of changes of different parameters of the model on the optimal policy. Moreover, in order to approve the determined models, we have clarified mathematical models and examined affectability.

The quest for business model innovation across multiple markets

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings This research paper concentrates on how business model innovation on multiple levels can be underpinned by digital technology transformation. As the phases of business model transformation progressed, the Indonesian manufacturing firm moved to a multi-layered business model across numerous markets, with widely scalable progress later being intensified through new partnerships with payment service providers and rapid delivery services. Managers are encouraged to proactively organize their external and internal resources to be readily deployable, so as to harness competitive advantages by shifting business models with optimal market timing. Originality/value The briefing saves busy executives and researchers’ hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Fragmentation in trader preferences among multiple markets: market coexistence versus single market dominance

Technological advancement has led to an increase in the number and type of trading venues and a diversification of goods traded. These changes have re-emphasized the importance of understanding the effects of market competition: does proliferation of trading venues and increased competition lead to dominance of a single market or coexistence of multiple markets? In this paper, we address these questions in a stylized model of zero-intelligence traders who make repeated decisions at which of three available markets to trade. We analyse the model numerically and analytically and find that the traders’ decision parameters—memory length and how strongly decisions are based on past success—make the key difference between consolidated and fragmented steady states of the population of traders. All three markets coexist with equal shares of traders only when either learning is too weak and traders choose randomly, or when markets are identical. In the latter case, the population of traders fragments across the markets. With different markets, we note that market dominance is the more typical scenario. Overall we show that, contrary to previous research emphasizing the role of traders’ heterogeneity, market coexistence can emerge simply as a consequence of co-adaptation of an initially homogeneous population of traders.

Network Interconnectivity and Entry into Platform Markets

Digital technologies have led to the emergence of many platforms in our economy today. In certain platform networks, buyers in one market purchase services from providers in many other markets, whereas in others, buyers primarily purchase services from providers within the same market. Accordingly, network interconnectivity—which measures the degree to which consumers in one market purchase services from service providers in a different market—varies across different industries. We examine how network interconnectivity affects interactions between an incumbent platform serving multiple markets and an entrant platform seeking to enter one of these markets. Our model yields several interesting results. First, even if the entrant can advertise at no cost, it still may not want to make every user in a local market aware of its service, as doing so may trigger a competitive response from the incumbent. Second, having more mobile buyers, which increases interconnectivity between markets, can reduce the incumbent’s incentive to fight and, thus, increase the entrant’s incentive to expand. Third, stronger interconnectivity between markets may or may not make the incumbent more defensible: when advertising is not costly and mobile buyers consume in both their local markets and the markets they visit, a large number of mobile buyers will increase the entrant’s profitability, thereby making it difficult for the incumbent to deter entry. However, when advertising is costly or mobile buyers only consume in the markets they travel to, a large number of mobile buyers will help the incumbent deter entry. When advertising cost is at an intermediate level, the entrant prefers a market with moderate interconnectivity between markets. Fourth, we find that even if advanced targeting technologies can enable the entrant to also advertise to mobile buyers, the entrant may choose not to do so in order to avoid triggering the incumbent’s competitive response. Finally, we find that the presence of network effects is likely to decrease the entrant’s profit. Our results offer managerial implications for platform firms and help understand their performance heterogeneity.

An Approach to the Consumption of Smoked Paprika in Spain and its Impact on the Intake of Polycyclic Aromatic Hydrocarbons

“Pimentón de La Vera” smoked paprika is a traditional kind of smoked paprika, the production of which is regulated by a protected designation of origin. The traditional drying/smoking process provides the “Pimentón de La Vera” smoked paprika with a peculiar flavour which has gained acceptance in multiple markets. However, this process also gives rise to non-desirable substances, such as polycyclic aromatic hydrocarbons (PAHs). This paper attempts to ascertain the consumption levels of smoked paprika per person in Spain in order to establish the intake of PAHs derived from this food spice. With this purpose in mind, a research study was carried out using questionnaires in three different smoked paprika consumption scenarios: food companies, households and restaurants. The results from this research proved that the average consumption of smoked paprika per person per year in Spain is 139 g. Overall, the intake of PAHs derived from smoked paprika was proven to represent a negligible fraction of the total intake, with this ingredient being far behind the PAH contribution represented by other food products. These results could help consolidate the smoked paprika production sector by providing evidence of the scarce contribution of smoked paprika to PAH intake and justifying the traditional production with smoke drying, which is the differentiating quality trait of this spice.

A toolkit of methods of development-focused health technology assessment

Health technology assessment conducted to inform decisions during technology development (development-focused or DF-HTA) has a number of distinct features compared with HTA conducted to inform reimbursement and usage decisions. In particular, there are a broad range of decisions to be informed related to the development of a technology; multiple markets and decision makers to be considered; a limited (and developing) evidence base; and constrained resources for analysis. These features impact upon methods adopted by analysts. In this paper, we (i) set out methods of DF-HTA against a timeline of technology development; (ii) provide examples of the methods’ use; and (iii) explain how they have been adapted as a result of the features of DF-HTA. We present a toolkit of methods for analysts working with developers of medical technologies. Three categories of methods are described: literature review, stakeholder consultation, and decision analytic modeling. Literature review and stakeholder consultation are often used to fill evidence gaps. Decision analytic modeling is used to synthesize available evidence alongside plausible assumptions to inform developers about price or performance requirements. Methods increase in formality and complexity as the development and evidence base progresses and more resources are available for assessment. We hope this toolkit will be used in conjunction with the framework of features of DF-HTA presented in our earlier article in order to improve the clarity and appropriateness of methods of HTA used in DF-HTA. We also seek to contribute to a continuing dialogue about the nature of, and the best approach to, DF-HTA.

Global Product Design Platforming: A Comparison of Two Methods to Find Equilibrium Solutions

We examine optimal-profit product design platforming problems for products sold across multiple markets. Firms have an incentive to platform to take advantage of cost reductions that are possible with increased production quantity, such as learning-by-doing. However, platforming may decrease sales compared to if the designs were customized for each market. The problem can be represented as a Nash equilibrium between multiple competing firms, each with a nonconvex mixed-integer nonlinear programing (MINLP) problem for maximizing their individual profits. We derive the Karush-Kuhn-Tucker (KKT) conditions for the problem and compare results from two algorithmic approaches: (1) an iterative MINLP approach that uses the BARON algorithm to solve each firm’s design and platforming problem and iterates until convergence to an equilibrium, and (2) an approach that solves the KKT conditions directly holding platforming decisions fixed, and compares profits for these platforming decisions to find an equilibrium. Results are presented for a case study of plug-in hybrid electric vehicles (PHEVs) where firms choose whether or not to platform the battery pack across the U.S. and China, and set the optimal battery capacity. We vary the learning rate and the difference in consumer willingness to pay for all-electric range between China and the U.S. Both algorithms agree on the same equilibrium solution in 98.4% of the cases. Results show that the optimum for each firm is to platform when learning rates are low, or the difference between optimal battery capacity in each market is relatively small.