Irresponsible Lending?: A Case Study of a U.K. Credit Industry Reform Initiative

There are major concerns about the level of personal borrowing, particularly sourced from credit cards. This paper charts the progress of an initiative to create a Responsible Lending Index (RLI) for the credit industry. The RLI proposed to voluntarily benchmark lending standards and promote best practice within the credit industry by involving suppliers of credit, customer representatives and regulators. However, despite initial support from some banks, consumer bodies and the Chair of the Treasury Select Committee, it failed to gain sufficient support from financial institutions in its original format. The primary reasons for this were related to the complexity of building such a robust index and the banks trade body’s fear of exposing its members to public scrutiny. A revised alternative, the Responsible Lending Initiative, was proposed which took into account these concerns. However, the Association of Payment Clearing Service (APACS), the trade body of the credit industry, then effectively destroyed the proposal. This article describes an attempt to address the challenges in the credit card industry with the initiation of the RLI, reflected in stakeholder discourse and in the context of a wider concern expressed by the involved stakeholders in terms of the need for greater responsibility in the banking industry’s lending practices.

Hip protectors to prevent hip fractures - a waste of time and money?

Abstract:
Background: An estimated 30-60% of older
adults fall every year and about 1% of falls result in a hip fracture. Hip fracture is a serious and growing problem, with a 3-10 fold rise in worldwide incidence predicted by 2050 (Gullberg, et al 1997). Hip protectors are underwear with built in protection for the greater trochanter. They are designed to prevent hip fractures by dispersing or absorbing the force of a fall. Trials
published to 2001 were broadly supportive of
the effectiveness of hip protectors, and this
was reflected in a Cochrane review in 2000.
However, earlier trials were methodologically
flawed and subsequent trials have not demonstrated effectiveness. The most recent Cochrane review describes only a marginal benefit (Parker et al, 2005).
Review and Discussion: This presentation
evaluates the current evidence for the use
of hip protectors and discusses the use of
that evidence by manufacturers, suppliers,
professional groups and guideline developers.
Interestingly, despite the limitations of the
evidence base, most advice has been broadly
supportive. Reasons for this are proposed
and discussed in the context of a critique of
evidence-based healthcare. protectors. However, the available evidence can be used in different ways and for different purposes by those with an interest in promoting
the use of hip protectors. A conservative
approach is warranted, where, if we cannot
demonstrate that hip protectors work, we
presume that they do not. This presentation will be of use to practitioners wanting to evaluate the evidence base for hip protectors (and other recommended interventions) on behalf of clients. It will also be of interest to policy makers who must assess the claims made for health care technologies as part of the decisionmaking process.
Recommended reading:
Gullberg B, Johnell O, Kanis JA (1997) Worldwide
projections for hip fracture. Osteoporos
Int. 7(5):407-13 .
Parker MJ, Gillespie WJ, Gillespie LD (2005) Hip
protectors for preventing hip fractures in older
people. The Cochrane Database of Systematic
Reviews Issue 3. Art. No.: CD001255.pub3. DOI:
10.1002/14651858.CD001255.pub3.

An audit of drug shortages in a community pharmacy practice

Background: There are no firm data on drug shortages in Irish community pharmacy. This prospective observational study aimed to characterise the drug shortage problem in an Irish community pharmacy.
Aims: The primary aim was to determine numbers and durations of drug shortages. Secondary aims included comparing these shortages with Irish Pharmacy Union (IPU) drug shortage lists and determining the frequency with which notifications were received prior to shortages. Further secondary aims were to examine relationships between causes of drug shortages and drug costs and between causes of drug shortages and shortage durations.
Methods: The study took place in a community pharmacy in a Limerick City suburb between October 2012 and February 2013. Data were collected daily regarding drugs that were dispensed, but unavailable to purchase. Suppliers/manufacturers provided data on the reasons for shortages.
Results: 65/1,232 dispensed drugs (5.3 %) were in short supply over the study period. Median shortage duration was 13 days (interquartile range 4–32 days) and median cost was €8.10. Numbers of unavailable drugs by month varied from 13 to 38. Monthly IPU drug shortage lists identified between six and eight of these shortages depending on the month. Two notifications were received from suppliers/manufacturers regarding shortages. Parallel exports had the highest mean costs (mean €38.05) and manufacturing problems were associated with the longest durations (mean 57.44 days).
Conclusions: This study highlights the drug shortage problem in an Irish community pharmacy. We propose that enhanced communication between all stakeholders is the most worthwhile solution. Further studies are needed.

STARTEC: Novel processing technologies in the development of a decision support tool to ensure safe and nutritious Ready-To-Eat foods

Ready-to-eat (RTE) foods can be readily consumed with minimum or without any further preparation; their processing is complex—involving thorough decontamination processes— due to their composition of mixed ingredients. Compared with conventional preservation technologies, novel processing technologies can enhance the safety and quality of these complex products by reducing the risk of pathogens and/ or by preserving related health-promoting compounds. These novel technologies can be divided into two categories: thermal and non-thermal. As a non-thermal treatment, High Pressure Processing is a very promising novel methodology that can be used even in the already packaged RTE foods. A new “volumetric” microwave heating technology is an interesting cooking and decontamination method directly applied to foods. Cold Plasma technology is a potential substitute of chlorine washing in fresh vegetable decontamination. Ohmic heating is a heating method applicable to viscous products but also to meat products. Producers of RTE foods have to deal with challenging decisions starting from the ingredients suppliers to the distribution chain. They have to take into account not only the cost factor but also the benefits and food products’ safety and quality. Novel processing technologies can be a valuable yet large investment for several SME food manufacturers, but they need support data to be able to make adequate decisions. Within the FP7 Cooperation funded by the European Commission, the STARTEC project aims to develop an IT decision supporting tool to help food business operators in their risk assessment and future decision making when producing RTE foods with or without novel preservation technologies.

Going above and beyond: how sustainability culture and entrepreneurial orientation drive social sustainability supply chain practice adoption

Purpose
– This paper aims to examine what drives the adoption of different social sustainability supply chain practices. Research has shown that certain factors drive the adoption of environmental sustainability practices but few focus on social supply chain practices, delineate which practices are adopted or what drives their adoption.

Design/methodology/approach
– The authors examine the facilitative role of sustainability culture to explain the adoption of social sustainability supply chain practices: basic practices, consisting of monitoring and management systems and advanced practices, which are new product and process development and strategic redefinition. The authors then explore the role played by a firm’s entrepreneurial orientation in shaping and reinforcing the adoption of social sustainability supply chain practices. A survey of 156 supply chain managers in multiple industries in Ireland was conducted to test the relationship between the variables.

Findings
– The findings show that sustainability culture is positively related to all the practices, and entrepreneurial orientation impacts and moderates social sustainability culture in advanced social sustainability supply chain adoption.

Research limitations/implications
– As with any survey, this is a single point in time with a single respondent. Implications for managers include finding the right culture in the organisation to implement social sustainability supply chain management practices that go beyond monitoring to behavioural changes in the supply chain with implications beyond the dyad of buyer and supplier to lower tier suppliers and the community surrounding the supply chain.

Practical implications
– The implications for managers include developing and fostering cultural attributes in the organisation to implement social sustainability supply chain management practices that go beyond monitoring suppliers to behavioural changes in the supply chain with implications beyond the dyad of buyer and supplier to lower tier suppliers and the community surrounding the supply chain.

Originality/value
– This is the first time, to the authors’ knowledge, that cultural and entrepreneurial variables have been tested for social sustainability supply chain practices, giving them new insights into how and why social sustainability supply chain practices are adopted.

An aggregated fridge-freezer peak shaving and valley filling control strategy for enhanced grid operations

The need for fast response demand side participation (DSP) has never been greater due to increased wind power penetration. White domestic goods suppliers are currently developing a `smart' chip for a range of domestic appliances (e.g. refrigeration units, tumble dryers and storage heaters) to support the home as a DSP unit in future power systems. This paper presents an aggregated population-based model of a single compressor fridge-freezer. Two scenarios (i.e. energy efficiency class and size) for valley filling and peak shaving are examined to quantify and value DSP savings in 2020. The analysis shows potential peak reductions of 40 MW to 55 MW are achievable in the Single wholesale Electricity Market of Ireland (i.e. the test system), and valley demand increases of up to 30 MW. The study also shows the importance of the control strategy start time and the staggering of the devices to obtain the desired filling or shaving effect.

Cocriação de valor na distribuição turística: a força que vai modelar o negócio das agências de viagens independentes em Portugal

O contexto Darwiniano em que vivem as Agências de Viagens Independentes (AVI) em Portugal, impõe uma estratégia de colaboração em rede entre os diversos players do setor, numa inovadora e interativa filosofia de coopetição interorganizacional. Atualmente as contendas negociais não são mais entre empresas individuais, mas entre alianças de múltiplas empresas e os fornecedores com quem interagem. Os constrangimentos, os conflitos e os obstáculos contextuais e transacionais que as AVI enfrentam, são considerados como um dos principais motivos que as impelem a integrar redes de coopetição Interorganizacionais. Foi dado maior enfoque ao setor das AVI, em Portugal, por possuírem um peso significativo no mercado (69% em 2011), e ao tipo de aliança – Grupo de Gestão de agências de viagens (por representar 44% dessas AVI). Pretende-se nesta tese efetuar um estudo de caso da “Aliança RAVT”, e construir um mosaico de ideias que possam explicar a realidade de criação de valor entre os parceiros dentro da rede. Será apresentado um modelo de negócio designado por “e-Marketplace P2P com Cocriação de valor” para Grupos de Gestão, elencando as premissas que obrigam à reconfiguração das regras de negócio e das relações dentro da constelação de atores, visando mobilizá-los no incremento de novas maneiras de cocriar valor.

O desenvolvimento dos sistemas de valor do sector segurador em Portugal

A investigação em apreço tem como horizonte de ocorrência o espaço inter-organizacional onde as empresas se relacionam entre si, com os seus fornecedores, canais e Clientes. É pretendido estudar o actual estado das parcerias inter-organizacionais do sector segurador nacional e definir uma estratégia de desenvolvimento integrado dos sistemas de valor. Com base num modelo de análise ancorado na (1) racionalidade económica inscrita na TCE (teoria dos custos de transacção) e (2) na óptica das Capacidades Dinâmicas, é proposto o Modelo GPS (Gestão Integrada de Parcerias) compaginável com uma visão holística e dinâmica. A metodologia de verificação empírica compreendeu (1) recolha de dados através de questionário, dirigido a Companhias e Parceiros e (2) entrevistas semi-estruturadas. A análise descritiva dos dados permitiu validar o modelo GPS e caracterizar um sistema de valor heterogéneo, complexo e diversificado relativamente à natureza e intensidade de relacionamentos. O sistema de relacionamentos foi enquadrado numa escala de maturidade onde foram posicionadas as várias práticas de gestão de parcerias. Actualmente nos seguros estamos perante um sistema mais economic-intensive, transaccional, do que knowledge-intensive. No teste de hipóteses, efectuado com a ferramenta SPSS, assinalam-se as correlações que se esperavam encontrar, bem como as (principais) ausências. De facto, a ausência de vestígios de correlação entre governance social/confiança e colaboração nos seguros não era esperada e constitui uma chamada de atenção para uma dimensão sub-explorada, conducente a um quadro tensional. No final, com base na realidade captada, foram traçadas recomendações de desenvolvimento dos sistemas de valor visando alcançar níveis colaborativos mais eficazes, assentes na força dos laços fortes. Todavia, esta nova narrativa de gestão não é neutral face aos modelos vigentes, implicando algum grau de ruptura. A continuação de especialização em actividades core, desconstruindo de forma (mais) pronunciada a cadeia de valor, secundada por maior níveis de colaboração e socialização entre pares, são elementos constitutivos da realidade futura. Vendo para além da linha do horizonte, os gestores seguradores não podem ficar indiferentes à projecção de uma matriz de fundo de relacionamentos mais colaborativos enquanto terreno fértil de inovação e renovação de fontes de vantagem competitiva.

Effect of light on ex situ production of symbiotic corals

The increasing interest in coral culture for biotechnological applications, to supply the marine aquarium trade, or for reef restoration programs, has prompted researchers to optimize coral culture protocols, with emphasis to ex situ production. When cultured ex situ, the growth performance of corals can be influenced by several physical, chemical and biological parameters. For corals harbouring zooxanthellae, light is one of such key factors, as it can influence the photosynthetic performance of these endosymbionts, as well as coral physiology, survival and growth. The economic feasibility of ex situ coral aquaculture is strongly dependent on production costs, namely those associated with the energetic needs directly resulting from the use of artificial lighting systems. In the present study we developed a versatile modular culture system for experimental coral production ex situ, assembled solely using materials and equipment readily available from suppliers all over the world; this approach allows researchers from different institutions to perform truly replicated experimental set-ups, with the possibility to directly compare experimental results. Afterwards, we aimed to evaluate the effect of contrasting Photosynthetically Active Radiation (PAR) levels, and light spectra emission on zooxanthellae photochemical performance, through the evaluation of the maximum quantum yield of PSII (Fv/Fm) (monitored non-invasively and non-destructively through Pulse Amplitude Modulation fluorometry, PAM), chlorophyll a content (also determined non-destructively by using the spectral reflectance index Normalized Difference Vegetation Index, NDVI), photosynthetic and accessory pigments, number of zooxanthellae, coral survival and growth. We studied two soft coral species, Sarcophyton cf. glaucum and Sinularia flexibilis, as they are good representatives of two of the most specious genera in family Alcyoniidae, which include several species with interest for biotechnological applications, as well as for the marine aquarium trade; we also studied two commercially important scleractinian corals: Acropora formosa and Stylophora pistillata. We used different light sources: hydrargyrum quartz iodide (HQI) lamps with different light color temperatures, T5 fluorescent lamps, Light Emitting Plasma (LEP) and Light Emitting Diode (LED). The results achieved revealed that keeping S. flexibilis fragments under the same light conditions as their mother colonies seems to be photobiologically acceptable for a short-term husbandry, notwithstanding the fact that they can be successfully stocked at lower PAR intensities. We also proved that low PAR intensities are suitable to support the ex situ culture S. cf. glaucum in captivity at lower production costs, since the survival recorded during the experiment was 100%, the physiological wellness of coral fragments was evidenced, and we did not detect significant differences in coral growth. Finally, we concluded that blue light sources, such as LED lighting, allow a higher growth for A. formosa and S. pistillata, and promote significant differences on microstructure organization and macrostructure morphometry in coral skeletons; these findings may have potential applications as bone graft substitutes for veterinary and/or other medical uses. Thus, LED technology seems to be a promising option for scleractinian corals aquaculture ex situ.

Modeling the Western Iberian margin circulation: present and future

The purpose of this work is to carry out a comprehensive study on the Western Iberian Margin (WIM) circulation my means of numerical modeling, and to postulate what this circulation will be in the future. The adopted approach was the development of a regional ocean model configuration with high resolution, capable of reproducing the largeand small-scale dynamics of the coastal transition zone. Four numerical experiences were carried out according to these objectives: (1) a climatological run, in order to study the system’s seasonal behavior and its mean state; (2) a run forced with real winds and fluxes for period 2001-2011 in order to study the interannual variability of the system; (3) a run forced with mean fields from Global Climate Models (GCMs) for the present, in order to validate GCMs as adequate forcing for regional ocean modeling; (4) a similar run (3) for period 2071-2100, in order to assess possible consequences of a future climate scenario on the hydrography and dynamics of the WIM. Furthermore, two Lagrangian particle studies were carried out: one in order to trace the origin of the upwelled waters along the WIM; the other in order to portrait the patterns of larval dispersal, accumulation and connectivity. The numerical configuration proved to be adequate in the reproduction of the system’s mean state, seasonal characterization and an interannual variability study. There is prevalence of poleward flow at the slope, which coexists with the upwelling jet during summer, although there is evidence of its shifting offshore, and which is associated with the Mediterranean Water flow at deeper levels, suggesting a barotropic character. From the future climate scenario essay, the following conclusions were drawn: there is general warming and freshening of upper level waters; there is still poleward tendency, and despite the upwellingfavorable winds strengthening in summer the respective coastal band becomes more restricted in width and depth. In what concerns larval connectivity and dispersion along the WIM, diel vertical migration was observed to increase recruitment throughout the domain, and while smooth coastlines are better suppliers, there is higher accumulation where the topography is rougher.

The importance of online tourism demand

In recent decades, the combination of tourism and Information and Communication Technologies (ICT), has originated considerable changes in tourists’ behaviour. The analysis of tourism demand resulting from the Internet is of growing importance, given the increasing number of online reservations observed in recent years. However, in order to analyse the new trends caused by online bookings, the availability of data enabling the measurement and characterization of this phenomenon is essential. This has, however, been a considerable limitation, given that either no data on key variables is available or the available data is sometimes of questionable quality. For professionals and researchers in the area of tourism, the high volume of tourists who use the Internet to make hotel and travel reservations is worth of consideration, given that it may potentiate the discovery of new source markets, the identification of clients with different characteristics and may help explain the dynamics between suppliers or countries. The existence of predictive studies to support decision-making and planning, by professionals of the tourism sector, is of great importance. Panel data models are a useful and appropriate method for the analysis and modelling of tourism demand. These models consider both the time series and the cross-sectional dimensions of the data and allow for the inclusion of social variables. The results of estimation of tourism demand, through panel data models, show that the Internet and the sharp technological development have encouraged the increasing demand for tourism. The growing number of tourism companies online will naturally promote or potentiate an increase of tourism demand.

Factoring in family freight forwarder company: case study

Each freight forwarder company must independently determine whether factoring is the right choice for them and if will pay off. If the factoring as a financial method would not be economically viable, it certainly would not exist. There are several different financing methods, which are more or less useful. However, not all of them are appropriate for every company, just like all buyers do not represent equal risks for the suppliers. The same buyer can pay one supplier within the agreed period, and not pay the other supplier at all. Still, the most important elements are the agreement made with the customer, the method of insuring ourselves and the method of monitoring the implementation of the agreements. Problems rarely occur overnight and that is why we have to constantly supervise our buyers; otherwise account receivables can occur. My thesis contributes to the ongoing research into how the use of factoring within the Slovenian economic environment can help a small freight forwarder company to grow. In effect, the specific characteristics of the Slovenian economic, legal and institutional environment make such an analysis an interesting one to explore. I used data from a family freight forwarder company TOP Hrvatin in drugi d.n.o. in order to establish future company growth by applying factoring as a right choice of financing. After applying all the data and preparing the company's financial plan, my results suggest that factoring is not the right choice for financing future investments for this particular freight forwarder business. Furthermore, the results even show that factoring is an extremely undeveloped financing method in Slovenia and that practically there is no legal base for its use.

Co-production and co-creation using self-service technology: the application of service-dominant logic

Research on how customers engage in the co-creation processes envisaged by the Servicedominant logic paradigm is currently limited and even less work has been published on frameworks for organizations to manage the co-creation process. This conceptual paper examines a particular aspect of co-creation: co-production as a result of the application of self-service technology (SST). We propose a conceptual framework for co-production, which emphasizes the need to understand productivity from the point of view of the customer, and demonstrate how this can be applied in both consumer (b2c) and interorganizational(b2b) contexts. We conclude that service organizations might benefit from clearly identifying co-production with task-performance, and co-creation with the valueattributing aspects of the customer service experience. Both aspects generate a range of design and management challenges for suppliers particularly the need to understand the cocreation process 'outputs' desired by customers and the full costs of moving away from person to person interaction.

Increase urban freight efficiency with delivery and servicing plan

Delivery and Servicing Plan (DSP) is an innovative logistics concept for more efficient organisation of deliveries from the point of view of the receiver of the goods. DSP actions tested in this study include reducing the number of suppliers, grouping deliveries, selecting less distant suppliers and others. It is shown that DSP can help reduce externalities and lead to a substantial reduction of costs. A new tool was developed to calculate the benefits of different DSP options for businesses and the public sector. Reductions in costs and externalities exceeding 50% have been demonstrated in a few cases. Remaining difficulties with the concept are organisational issues, lack of knowledge, need to give external advisory support for shop owners and the limited number of successful applications to date.

Towards Supplier Maturity Evaluation in Terms of PLM Collaboration

The product lifecycle management (PLM) system has a significant role to support the collaboration and manage the partnership between OEM and supplier to enable the success of supplier integration. Today great rates of cooperation as suppliers have been dedicated to SMEs. Since one of the PLM task is to control the collaboration between OEM and suppliers, this paper provide supplier (SMEs) a framework to find their level of relationship with OEM and the steps that they can improve it. To respond to this trend, we defined a methodology based on collaborative matrix maturity levels and four PLM axes of strategic, organization, process and tools levels. Finally, according to this matrix, we proposed a structure of a proper questionnaire and example that shows suppliers how to evaluate their positions in terms of collaboration in PLM.