Lower partial moment and information entropy-based dynamic electricity purchasing strategy

In the electricity market environment, load-serving entities (LSEs) will inevitably face risks in purchasing electricity because there are a plethora of uncertainties involved. To maximize profits and minimize risks, LSEs need to develop an optimal strategy to reasonably allocate the purchased electricity amount in different electricity markets such as the spot market, bilateral contract market, and options market. Because risks originate from uncertainties, an approach is presented to address the risk evaluation problem by the combined use of the lower partial moment and information entropy (LPME). The lower partial moment is used to measure the amount and probability of the loss, whereas the information entropy is used to represent the uncertainty of the loss. Electricity purchasing is a repeated procedure; therefore, the model presented represents a dynamic strategy. Under the chance-constrained programming framework, the developed optimization model minimizes the risk of the electricity purchasing portfolio in different markets because the actual profit of the LSE concerned is not less than the specified target under a required confidence level. Then, the particle swarm optimization (PSO) algorithm is employed to solve the optimization model. Finally, a sample example is used to illustrate the basic features of the developed model and method.

An analysis of research on the future of purchasing and supply management

Business organisations are going through rapid external environmental and internal organisational changes due to increasing globalisation, E-business, and outsourcing. As a result, the future of purchasing and supply management—as a function within organisations, as a process that spans organisation boundaries and as a profession—raises important concerns for both organisations and the purchasing professional. This paper considers a broad and rather fragmented body of empirical evidence and analyses 42 relevant empirical studies on the future of purchasing and supply management. The major findings are reported in terms of changes in business contexts, purchasing strategy, structure, role and responsibility, system development and skills. Cross-sectional comparative analyses were also conducted to examine variation by sector, firm type, people's roles in purchasing, and country. A number of major implications for the purchasing function, process and professional bodies are presented together with suggestions for future research to address significant gaps in the current body of knowledge.

Strategy formation for indirect spend

The aim of this thesis was to examine the strategy formation in indirect procurement. Current literature in purchasing strategy has mainly focused on direct procurement whereas the strategy formation in indirect procurement has gained much less attention. Nevertheless, the weak economic times have been pushing companies to find savings from other places as well. The theoretical part of the thesis focused on three main subjects; indirect procurement, purchasing strategy and category management. This thesis was a case study, which initiative arose from the company’s need to develop their indirect procurement. The objectives of the empirical part were to identify current state of the indirect procurement and solve biggest issues. The analysis was based on multiple managerial interviews and a spend analysis from ten different countries. Based on these analyses and the theoretical findings a framework and recommendations for the case company was made.

多对一供应链收入共享契约中的采购优化

为研究多对一供应链结构中基于契约协商的采购优化策略问题及其对改善供应链绩效的影响,针对该供应链结构中零售商具有内生保留利润的特点,建立了以制造商为主方、零售商为从方的Stackelberg主从对策模型;给出了在制造商提供契约条款的对称博弈中,零售商采购策略存在唯一最优解、制造商间的博弈存在唯一对称纳什均衡最优解的证明;讨论了收入共享契约下分散供应链决策同集中供应链决策的关系,限定了该结构中供应链协调的条件。最后,通过仿真实验分析验证了契约参数及产品的可替代性对供应链绩效的影响。

Quantifying consumer portion control practices. A cross-sectional study

The use of portion control practices has rarely been quantified. The present study aimed to: (1) explore which portion control practices are actually used by the general population and their association with cognitive restraint, demographic background and general health interest (GHI), and (2) examine how the usage of portion control practices predicts the estimated consumption of an energy dense food (i.e. pizza). Twenty-two portion control practices were rated in terms of their frequency of use from 'never' to 'very often' by a representative sample of 1012 consumers from the island of Ireland. Three factors were extracted and named: measurement-strategy scale, eating-strategy scale, and purchasing-strategy scale. The eating-strategy scale score was the highest, while the measurement-strategy scale carried the lowest frequency score. For each strategy scale score, the strongest predictor was GHI, followed by gender. Having higher GHI and being female were independently associated with more frequent portion control. Both the eating-strategy scale score and the purchasing-strategy scale score were negatively associated with pizza portion size consumption estimates. In conclusion, while this study demonstrates that the reported use of portion control practices is low, the findings provide preliminary evidence for their validity. Further studies are needed to explore how portion control practices are used in different kinds of portion size decisions and what their contribution is to the intake of food over an extended period of time.

Gestione strategica parco fornitori: Caso Bonfiglioli Group

a. Introduzione: il capitolo introduttivo tratta il background del lavoro in generale. In esso vengono illustrati inoltre gli scopi e gli obiettivi e la struttura dell’elaborato. b. Framework teorici: Strategicità fornitori e SM Il primo passo nella progettazione di questo elaborato di tesi è stato quello di sviluppare una ricerca nella letteratura della SCM. Secondo Strauss e Corbin (2008) “la domanda iniziale di uno studio qualitativo è spesso ampia ed aperta”. Un modo per sviluppare domande di ricerca è quello si esaminare la letteratura. Viene trattata la strategicità della funzione approvvigionamenti nel Supply Chain Management ed il notevole impatto dei fornitori sulle prestazioni aziendali. c. Supplier Base Reduction: Modello Concettuale. Viene proposto un modello concettuale che si base sulla strategicità della SBR intesa come una strategia di gestione del parco fornitori grazie ai suoi metodi di standardization, elimination e tiering. Tale modello evidenzia l’importanza di eseguirla in contemporanea ad altri metodi, strumenti e strategie molto rilevanti, quali: purchasing strategy, spend analysis per classe merceologica di acquisto, purchasing performance meausurement tramite appositi KPI (i più rilevanti sono lead time e qualità), valutazione e segmentazione del parco fornitori. In tal modo sarà immediato individuare i fornitori critici da eliminare e quelli più performanti con cui stabilire dei rapporti di partnership e di fornitura integrata. d. Case Study: Bonfiglioli Riduttori Dopo un excursus sulla struttura aziendale di Bonfiglioli Riduttori, le sue Business Unit, le diverse filiali ed i suoi principali prodotti, viene riportata una breve analisi dell’intera supply chain. Successivamente viene trattata la necessità di aumentare le performance aziendali (date le stringenti richieste di mercato in termini di qualità e puntualità nelle consegne) e di non perdere la competitività acquisita precedentemente. Inoltre si enfatizza l’importanza della funzione approvvigionamenti nel raggiungimento degli obiettivi aziendali. e. Applicazione del modello concettuale al caso Dal modello concettuale si hanno gli input per definire il piano esecutivo del caso di studio in esame. Verranno trattati: analisi di Pareto per categoria merceologica, monitoraggio KPI per fornitore e categoria merceologica (con relativa griglia di misurazione delle performance globale), segmentazione fornitori per categoria tramite Commodity Pyramids, attuazione di azioni correttive generiche (quali le tecniche SBR e la partnership con i fornitori più performanti) e puntuali (quality improvement, ridefinizione dei piani di consegna, condivisione della programmazione, applicazione di bonus o penalità). f. Risultati ottenuti ed attesi Dopo aver riportato i risultati di alcuni esempi di macrocategorie merceologiche d’acquisto, si analizzano i risultati globali della razionalizzazione del parco fornitori e dell’implementazione di rapporti di partnership con annessi i relativi benefici per le performance dell’organizzazione. Si propone inoltre una revisione dei meccanismi di selezione dei fornitori tramite l’ideazione di un nuovo modello di vendor rating che rispetti i target prefissati.

Coordinated Lot-sizing and Dynamic Prizing under a Supplier All-units Quantity Discount

We consider an economic order quantity model where the supplier offers an all-units quantity discount and a price sensitive customer demand. We compare a decentralized decision framework where selling price and replenishment policy are determined independently to simultaneous decision making. Constant and dynamic pricing are distinguished. We derive structural properties and develop algorithms that determine the optimal pricing and replenishment policy and show how quantity discounts not only influence the purchasing strategy but also the pricing policy. A sensitivity analysis indicates the impact of the fixed-holding cost ratio, the discount policy, and the customers' price sensitivity on the optimal decisions.

Risk, trust, and consumer online purchasing behaviour : a Chilean perspective

Purpose: The purpose of this study is to investigate Latin American online purchase behaviour with a specific focus on the influence of perceived risk and trust. While studies of this nature have been conducted quite extensively in developed countries, their application in developing countries, such as Latin America is limited. Our study addresses this gap in the literature with an empirical study conducted in Chile. Design/methodology/approach: The authors develop and test a proposed model of the influence of consumer’s perceptions of risk and trust on their attitudes and intentions to purchase on the Internet. An online survey method is used. The sample consists of 176 Chilean consumers who have made at least one purchase online. The data is analysed using structural equation modelling technique (SEM). Findings: The analysis revealed that of the perceived risk and trust factors examined, trust in third party assurances and a cultural environment of trust had the strongest positive influence on intentions to continuing purchasing online. Perceived risk had an inverse relationship with attitude and consumers’ attitude has a positive influence on intentions to purchase online. Trust in online vendors and a propensity to trust were both insignificant. Practical implications: Practically, these results identity which risk and trust beliefs towards purchasing online have the most effect thereby providing insights into how companies should seek to mitigate perceptions of risk to encourage new and return purchasers. Additionally, this research shows that consumers in a Latin American country, recognised as a collectivist, high risk avoidance culture, are willing to make purchases online despite the risks involved. Originality/value: The study and its results is one of few available that consider a Latin American context. The value of the findings provides insights into the specific risk and trust factors that influence Chilean consumers when considering purchasing online. The tested model adds value not only to the literature on Latin American consumer behaviour but also provides guidance for companies offering online retailing facilities in these less developed countries.

Online retailing versus traditional stores in the purchasing decision making process

Due to proliferation of online stores prior expectations that retailing would move completely online were not fulfilled. Previous research about consumers’ preference of retailing channels suggested that online sales are driven by the convenience of online shopping, or as a natural extension of online searches. This paradigm has changed over the years. Changes in consumer behaviour are indicating that while consumers are searching online using various information sources to learn about products, ultimately when purchasing, consumers are shifting between online and offline retailing channels depending on various factors. Online shopping is still considered to be a convenient way to purchase goods, but the convenience is not the key factor. This qualitative research is based on 22 in-depth interviews with shoppers in Australia.

Consumer Internet purchasing behaviour in Chile

Despite the potential for e-commerce growth in Latin America, studies investigating factors that influence consumers’ Internet purchasing behavior are very limited. This research addresses this limitation with a consumer centric study in Chile using the Theory of Reasoned Action. The study examines Chilean consumers’ beliefs, perceptions of risk, and subjective norms about continued purchasing on the Internet. Findings show that consumers’ attitude towards purchasing on the Internet is an influential factor on intentions to continue Internet purchasing. Additionally, compatibility and result demonstrability are influential factors on attitudes towards this behavior. The study contributes to the important area of technology post adoption behavior.

Designing an emotional strategy : Strengthening digital channel engagements

The emergence of new technologies has revolutionized the way companies interact and build relationships with customers. The channel–customer relationship has traditionally been managed via a push approach in communication (“What can we sell customers?”) with the hope of cultivating customer loyalty. However, emotional understandings of customers and how they feel about a product, service, or business can drastically alter consumers’ engagement, behavior, and purchasing preferences. This rapidly evolving landscape has left managers at a loss, and what they are experiencing is likely the beginning of a tectonic shift in the way digital channels are designed, monitored, and managed. In this article, digital channel relationships are examined, and useful concepts for clarifying and refining the emotional meaning behind company strategy and their relationship to corresponding digital channels are detailed. Using three case study examples, we discuss the process and impact of such emotionally aware digital channel designs. Recommendations are made regarding how companies can select, design, and maintain digital engagements based on their strategy and industry needs.

NHS Wales user needs study including knowledgebase tools report. Report for Informing Healthcare Strategy implementation programme.

Thomas, R., Spink, S., Durbin, J. & Urquhart, C. (2005). NHS Wales user needs study including knowledgebase tools report. Report for Informing Healthcare Strategy implementation programme. Aberystwyth: Department of Information Studies, University of Wales Aberystwyth. Sponsorship: Informing Healthcare, NHS Wales