Supplier selection criteria in the Greek hotel food and beverage divisions

PurposeThe purpose of this study is to investigate the factors affecting supplier selection in food and beverage divisions in the Greek hotel industry. This research aimed to (1) examine the factors affecting supplier selection in food and beverage divisions of the Greek hotel industry, as these were perceived by the Greek purchasing managers themselves; (2) investigate the underlying factors when changing a supplier.Design/methodology/approachA survey was conducted using a closed-ended type questionnaire. Data collection met the following three criteria: hotels with a fully operational food and beverage division could participate in the research, the research population comprised all the hotels located in 13 regions of Greece, the sample represented over 10% of the total hotels in each region. Finally, 653 valid questionnaires were collected.FindingsExploratory factor analysis showed that six broad sets of factors affect supplier selection in the food and beverage divisions: those related to raw materials, financing, environment, services, origin-nutrients and people. Regarding the factors considered in changing a supplier, three factors were found: service and product quality, economic policy change, food quality and safety management systems.Research limitations/implicationsGreek hotel managers could use the findings of the study to effectively create a supply chain management strategy that will lead to improved firm performance. Understanding the importance of the selection criteria for the supply chain performance and the need to build strong relationships with stakeholders, suppliers could also create a proper supply chain.Originality/valueThe study adds to the knowledge regarding the perspectives of the Greek purchasing managers in food and beverage divisions in hotel industry and the body of much-needed research. Using exploratory factor analysis, a sort of grouping of the variables seems beneficial for simplifying how to present and understand the factors affecting supplier selection in food and beverage divisions within the Greek context.

PERAMALAN EKSPOR LUAR NEGERI BANTEN MENGGUNAKAN MODEL ARIMAX

Forecasting Banten exports is one of the important elements for formulating economic growth targets in the development planning document prepared by the Banten Provincial Government. The purpose of this study is to forecast exports by utilizing export data from the BPS and the United States manufacturing purchasing managers index (PMI) which is derived from the Institute of Supply Management (ISM). The results showed that the ARIMAX model has a very good forecasting ability. This is indicated by the MAPE value which reached 8.84 percent. However, forecasting accuracy will decrease as the forecasting time span increases

The Impact of the COVID-19 Pandemic on Consumer and Business Confidence Indicators

The COVID-19 pandemic and induced economic and social constraints have significantly impacted the confidence of both consumers and businesses. Despite that, comprehensive studies of the impact of the COVID-19 pandemic on the consumer and business sentiment are still lacking. Thus, in our research we aim to identify consumer and business confidence indicators’ reaction to the spread of the COVID-19 pandemic in the Eurozone, the United States, and China. For this purpose, we used the method of correlation–regression analysis. We chose the consumer-confidence index, manufacturing purchasing manager’s index, and services purchasing manager’s index as dependent variables; and the number of confirmed cases of COVID-19, the number of deaths caused by COVID-19, and the mortality rate of COVID-19 infections as independent variables. The results showed a relatively rapid and robust effect of COVID-19 in the short period, but longer-term results depended on the region and were not so unambiguous: in the case of the Eurozone, the spread of COVID-19 pandemic did not affect the consumer-confidence index (CCI) or, in the cases of the United States and China, affected this index negatively; the purchasing managers’ index (PMI) in the services sector was significantly negatively affected by the mortality risk of COVID-19 infection; and the impact on the purchasing managers’ index (PMI) in the manufacturing industry appeared to be mixed.

Foreign European Countries: Development of the Service Sector according to the Composite Purchasing Managers’ Index

Introduction. Foreign European countries, dominating in the modern world economy, show signs of heterogeneity of development, especially in the tertiary sector of the economy. The purpose of the study is to perform a systematic and structural analysis of the development of the countries according to the Purchasing Managers’ Index in the service sector and to identify factors affecting the changes in this index. Materials and Methods. Statistical data from open sources were used as materials. The study employed such methods as the systemic and structural analysis (understanding the Index and its composite nature, the typology of foreign European countries), the spatial analysis of business activity in the service sector (differentiation of countries), and the structural and functional approach (factors that influence the changes in the Purchasing Managers’ Index). Results. The Purchasing Managers’ Index in the service sector has been analyzed. The methodology for calculation of the Index has been described; its strengths and weaknesses, as well as its impact on the economy have been assessed. A typology of foreign European countries has been created according to the leading macroeconomic indicator – the composite Purchasing Managers’ Index. This made it possible to draw a parallel with the socio-economic development of the countries of the studied region in terms of the ‘center-periphery’ model. The internal and external factors in the development of business activities in the service sector of national economies have been identified. Discussion and Conclusion. The development of the service sector has been studied at the level of foreign European countries. The composite Purchasing Managers’ Index has been considered as an indicator of the development over time. The authors have been able to expose the issues of studying the tertiary sector of the economy as one of the relevant areas of macro-regional research. The territorial differentiation of the countries according to their business activity in the service sector has been revealed, which can be used in projected estimates in the field of management and implementation of regional policies. The proposed approach to the study of the service sector can be applied at country and regional levels.

The Dollar, Bank Leverage, and Real Economic Activity: An Evolving Relationship

The interest in how financial conditions affect real economic activity has grown since the great financial crisis (GFC), not least because some of the mechanisms at play in the financial sector may have changed. We shed light on this issue by examining the empirical relationship between global Purchasing Managers' Indices, world trade, and indicators of global financial conditions, with a special focus on the broad dollar index. We show that the influence of the dollar on real economic activity and global trade seems to have increased since the GFC, while that of the VIX has decreased.

DEVELOPMENT OF THE ALGORITHM FOR DETERMINING THE OPTIMIZING CONSIGNMENT SIZE IN INTERNATIONAL ROAD TRANSPORT

Рассмотрена динамика индекса деловой активности PMI (Purchasing Managers Index) по регионам и странам. Этот индекс используется для определения изменений товарных запасов, производительности поставщиков, уровня занятости, объемов выпуска продукции и количества новых заказов в производстве. Снижение уровня товарных запасов увеличивает интенсивность товарооборота. Таким образом, необходим переход на более частые поставки мелкими партиями. Это приводит к увеличению транспортных расходов на транспортировку. Рассмотрены тенденции влияния таких внешних факторов, как потребительский спрос на товары, ставка рефинансирования, курс национальной валюты.Цель. Определить размер партии грузов и периодичность их поставок по критерию минимизации суммарных логистических затрат.Методология / Методы. В статье используются методы математической статистики, регрессионного анализа.Результаты. Предложен алгоритм решения задачи оптимизации размера партии грузов. Получены зависимости составляющих суммарных затрат от частоты поставок.