An Evaluation of Inventory Management and Performance in Indian Machine Tool SMEs: An Exploratory Study

Inventory Management (IM) plays a decisive role in the enhancement of efficiency and competitiveness of manufacturing enterprises. Therefore, major manufacturing enterprises are following IM practices as a strategy to improve efficiency and achieve competitiveness. However, the spread of IM culture among Small and Medium Enterprises (SMEs) is limited due to lack of initiation, expertise and financial limitations in developed countries, leave alone developing countries. With this backdrop, this paper makes an attempt to ascertain the role and importance of IM practices and performance of SMEs in the machine tools industry of Bangalore, India. The relationship between inventory management practices and inventory cost are probed based on primary data gathered from 91 SMEs. The paper brings out that formal IM practices have a positive impact on the inventory performance of SMEs.

Inventory Management Performance in Indian Machine Tool SMEs: What factors do influence them

These instructions give on basic guidelines for preparing papers for the IEEM 2008 Proceedings. Inventory Management (IM) plays a decisive role in the enhancement of efficiency for manufacturing enterprise competitiveness. Therefore, major manufacturing industries are following inventory management practices as a strategy to improve efficiency and achieve competitiveness. However, the spread of inventory management culture among Small and Medium Enterprises (SMEs) is limited due to lack of initiation, expertise and financial limitations in developed countries, leave alone developing countries.With this backdrop, this paper makes an attempt to ascertain the factors which influence the IM performance of SMEs in the machine tools industry of Bangalore, India. This issue is probed based on primary data gathered from 91 SMEs. The paper brings out that two sets of factors namely organizational support and external pressure have a positive impact on the inventory performance of SMEs.

Do inventory management practices affect economic performance? An empirical evaluation of the machine tool SMEs in Bangalore

Inventory management (IM) has a decisive role in the enhancement of manufacturing industry's competitiveness. Therefore, major manufacturing industries are following IM practices with the intention of improving their performance. However, the effort to introduce IM in SMEs is very limited due to lack of initiation, expertise, and financial constraints. This paper aims to provide a guideline for entrepreneurs in enhancing their IM performance, as it presents the results of a survey based study carried out for machine tool Small and Medium Enterprises (SMEs) in Bangalore. Having established the significance of inventory as an input, we probed the relationship between IM performance and economic performance of these SMEs. To the extent possible all the factors of production and performance indicators were deliberately considered in pure economic terms. All economic performance indicators adopted seem to have a positive and significant association with IM performance in SMEs. On the whole, we found that SMEs which are IM efficient are likely to perform better on the economic front also and experience higher returns to scale.

The process of technological innovations in small enterprises: the Indian way

This paper probes how two small foundries in Belgaum, Karnataka State, India, have achieved technological innovations successfully based on their technological capability and customer needs, enabling them to sail through the competitive environment. This study brought out that technically qualified entrepreneurs of both the foundries have carried out technological innovations, mainly due to their self-motivation and self-efforts. Changing product designs, as desired or directed by the customers, cost reduction, quality improvement and import substitution through reverse engineering are the characteristics of these technological innovations. These incremental innovations have enabled the entrepreneurs of the two foundries to enhance competitiveness, grow in the domestic market and penetrate the international market and grow in size over time.

The process of technological innovations in small enterprises: the Indian way

This paper probes how two small foundries in Belgaum, Karnataka State, India, have achieved technological innovations successfully based on their technological capability and customer needs, enabling them to sail through the competitive environment. This study brought out that technically qualified entrepreneurs of both the foundries have carried out technological innovations, mainly due to their self-motivation and self-efforts. Changing product designs, as desired or directed by the customers, cost reduction, quality improvement and import substitution through reverse engineering are the characteristics of these technological innovations. These incremental innovations have enabled the entrepreneurs of the two foundries to enhance competitiveness, grow in the domestic market and penetrate the international market and grow in size over time.

Jatropha cultivation in southern India: assessing farmers' experiences

Together with 106 farmers who started growing Jatropha (Jatropha curcas L.) in 20042006, this research sought to increase the knowledge around the real-life experience of Jatropha farming in the southern India states of Tamil Nadu and Andhra Pradesh. Launched as an alternative for diesel in India, Jatropha has been promoted as a non-edible plant that could grow on poor soils, yield oil-rich seeds for production of bio-diesel, and not compete directly with food production. Through interviews with the farmers, information was gathered regarding their socio-economic situation, the implementation and performance of their Jatropha plantations, and their reasons for continuing or discontinuing Jatropha cultivation. Results reveal that 82% of the farmers had substituted former cropland for their Jatropha cultivation. By 2010, 85% (n = 90) of the farmers who cultivated Jatropha in 2004 had stopped. Cultivating the crop did not give the economic returns the farmers anticipated, mainly due to a lack of information about the crop and its maintenance during cultivation and due to water scarcity. A majority of the farmers irrigated and applied fertilizer, and even pesticides. Many problems experienced by the farmers were due to limited knowledge about cultivating Jatropha caused by poor planning and implementation of the national Jatropha program. Extension services, subsidies, and other support were not provided as promised. The farmers who continued cultivation had means of income other than Jatropha and held hopes of a future Jatropha market. The lack of market structures, such as purchase agreements and buyers, as well as a low retail price for the seeds, were frequently stated as barriers to Jatropha cultivation. For Jatropha biodiesel to perform well, efforts are needed to improve yield levels and stability through genetic improvements and drought tolerance, as well as agriculture extension services to support adoption of the crop. Government programs will -probably be more effective if implementing biodiesel production is conjoined with stimulating the demand for Jatropha biodiesel. To avoid food-biofuel competition, additional measures may be needed such as land-use restrictions for Jatropha producers and taxes on biofuels or biofuel feedstocks to improve the competitiveness of the food sector compared to the bioenergy sector. (c) 2012 Society of Chemical Industry and John Wiley & Sons, Ltd

Probabilistic least squares approach to ordinal regression

This paper proposes a novel approach to solve the ordinal regression problem using Gaussian processes. The proposed approach, probabilistic least squares ordinal regression (PLSOR), obtains the probability distribution over ordinal labels using a particular likelihood function. It performs model selection (hyperparameter optimization) using the leave-one-out cross-validation (LOO-CV) technique. PLSOR has conceptual simplicity and ease of implementation of least squares approach. Unlike the existing Gaussian process ordinal regression (GPOR) approaches, PLSOR does not use any approximation techniques for inference. We compare the proposed approach with the state-of-the-art GPOR approaches on some synthetic and benchmark data sets. Experimental results show the competitiveness of the proposed approach.