Combine to compete: improving fiscal forecast accuracy over time

Budget forecasts have become increasingly important as a tool of fiscal management to influence expectations of bond markets and the public at large. The inherent difficulty in projecting macroeconomic variables – together with political bias – thwart the accuracy of budget forecasts. We improve accuracy by combining the forecasts of both private and public agencies for Italy over the period 1993-2012. A weighted combined forecast of the deficit/ ratio is superior to any single forecast. Deficits are hard to predict due to shifting economic conditions and political events. We test and compare predictive accuracy over time and although a weighted combined forecast is robust to breaks, there is no significant improvement over a simple RW model.

Implantació d'un sistema de gestió integrada: ISO 9001:00, ISO 14001:04 i OHSAS 18001:07, en un centre d'estètica i perruqueria

En aquests últims anys, són moltes les empreses que han optat per la utilització de sistemes de gestió normalitzats, per a garantir la rendibilitat i fiabilitat dels resultats de la implantació del sistema de gestió en qüestió. A la dècada dels 90 va ser quan la implantació de sistemes de gestió va començar a ser important en la majoria de sectors econòmics. L’evolució en els sistemes de gestió a trets generals va iniciar-se primerament en l’àmbit de la qualitat, seguidament en la gestió ambiental i en última instància en la prevenció de riscos laborals. Aquests tres tipus de sistemes de gestió, en els últims anys s’han anat integrant, de manera que s’han reduït els recursos i els esforços emprats en la gestió, millorant significativament l’eficàcia i l’eficiència d’aquests sistemes. L’objectiu principal que persegueix aquest projecte, és definir un sistema de gestió que permeti a l’empresa conduir les seves activitats de forma simplificada i ordenada, i que alhora faciliti la informació necessària per a corregir i millorar les activitats. Un altre objectiu que pretén aconseguir aquest projecte, és el de dissenyar un SGI que aprofiti les sinèrgies generades en els diferents àmbits de la pròpia empresa i fomenti les interaccions entre els diferents nivells de l’organització. En conseqüència, millorarà de forma important els fluxos d’informació dins de l’empresa minimitzant els esforços i la pèrdua d’informació. El mètode escollit per a la implantació del SGI, ha estat la Gestió per Processos, la qual es basa en la definició i seguiment dels processos de l’empresa, partint de les necessitats del client i acabant quan aquestes estan satisfetes. En conclusió, a la finalització del present projecte s’obtindrà un SGI, amb tots els processos de l’empresa definits i implantats, que doni compliment a les normes UNEEN-ISO 9001:00, UNE-EN-ISO 14001:04 i OHSAS 18001:07. Aquest SGI, que s’ha realitzat des d’un punt de vista documental i teòric, suposarà una millora de l’eficàcia operativa dels processos i una important millora competitiva de l’empresa.

Improving Intraorganizational Knowledge Sharing

The objective of this research was to find how the critical factors enabling intraorganizational knowledge sharing could be implemented to be part of case organization’s actions. The theoretical framework of the research was constituted based on previous scientific discussions concerning knowledge and its dimensions, knowledge sharing and its linkage to organizational learning. The intraorganizational knowledge sharing critical factors form an essential part of the theoretical framework. The study was a qualitative case study. The data was collected using focus group interviews and analyzed using theme analysis. In the empirical part of the study case organizations characteristics to the intraorganizational knowledge sharing were researched, intraorganizational knowledge sharing goals were mapped and finally improvement actions were suggested. The most significant suggestions were creating an organization wide knowledge sharing strategy, facilitating the development of social networks and communicating the top management support for knowledge sharing activities.

Project «Water and Environment»: Improving educational practices in the aquatic environment

The project "Water and Environment"for the improvement of educational practices in the aquatic environment, is a research project led by four members of the Research Group of Physical Education at the University of Vic (GREF) experts in water activities. The aim is to train the technicians who teach swimming during school hours. The training is based on improving water treatment practices and competence to face a contradictory scene where clubs develop educational content and where schools transfer to clubs part of its educational activity to contribute significantly and positively to water activities fitting the educational curriculum.

Electrocatalytic oxidation of methanol by the [Ru3O(OAc)6(py)2(CH3OH)]3+cluster: improving the metal-ligand electron transfer by accessing the higher oxidation states of a multicentered system

The [Ru3O(Ac)6(py)2(CH3OH)]+ cluster provides an effective electrocatalytic species for the oxidation of methanol under mild conditions. This complex exhibits characteristic electrochemical waves at -1.02, 0.15 and 1.18 V, associated with the Ru3III,II,II/Ru3III,III,II/Ru 3III,III,III /Ru3IV,III,III successive redox couples, respectively. Above 1.7 V, formation of two RuIV centers enhances the 2-electron oxidation of the methanol ligand yielding formaldehyde, in agreement with the theoretical evolution of the HOMO levels as a function of the oxidation states. This work illustrates an important strategy to improve the efficiency of the oxidation catalysis, by using a multicentered redox catalyst and accessing its multiple higher oxidation states.

Improving Cross Direction Basis Weight Profile in a Fourdrinier Paper Machine

The purpose of this study was to improve PM7’s basis weight CD profile in Stora Enso’s Berghuizer mill and to search mechanical defects which affect to the formation of the basis weight CD profile. In the theoretical part PM7’s structure was presented and the formation of the basis weight and caliper CD profiles was examined as well as disturbances which are affecting to the formation. The function of the control system was scrutinised for the side of CD profiles as well as the formation of the measured CD profiles. Tuning of the control system was examined through the response model and filtering. Specification of the response model and filtering was explained and how to determine 2sigma statistical number. In the end of the theoretical part ATPA hardware and a new profile browser were introduced. In the experimental part focus was in the beginning to search and remove mechanical defects which are affecting to CD profiles. The next step was to verify the reliability of the online measurements, to study the stability of the basis weight CD profile and to find out so called fingerprint, a basis weight CD profile which is unique for each paper machine. New response model and filtering value for basis weight CD profile was determined by bump tests. After a follow up period the affect of the new response model and filtering was analysed.

Improving the solubility of the antichagasic drug benznidazole through formation of inclusion complexes with cyclodextrins

This study describes unpublished research on improving the solubility of benznidazole by the formation of an inclusion complex. The cyclodextrins selected were αCD, βCD, γCD, HPβCD, RMβCD and SBβCD. All complexes were obtained in solution, presenting 1:1 stoichiometry according to the phase solubility diagram. The highest association constants were obtained with RMβCD and SBβCD, being selected for attainment of solid state complexes. These were characterized using XRD, SEM and dissolution test. The data obtained suggest the formation of complexes and indicate that these may provide a promising alternative way of developing solid doses of drug with suitable biopharmaceutical properties.

Improving demand forecasting practices in the industrial context

Demand forecasting is one of the fundamental managerial tasks. Most companies do not know their future demands, so they have to make plans based on demand forecasts. The literature offers many methods and approaches for producing forecasts. When selecting the forecasting approach, companies need to estimate the benefits provided by particular methods, as well as the resources that applying the methods call for. Former literature points out that even though many forecasting methods are available, selecting a suitable approach and implementing and managing it is a complex cross-functional matter. However, research that focuses on the managerial side of forecasting is relatively rare. This thesis explores the managerial problems that are involved when demand forecasting methods are applied in a context where a company produces products for other manufacturing companies. Industrial companies have some characteristics that differ from consumer companies, e.g. typically a lower number of customers and closer relationships with customers than in consumer companies. The research questions of this thesis are: 1. What kind of challenges are there in organizing an adequate forecasting process in the industrial context? 2. What kind of tools of analysis can be utilized to support the improvement of the forecasting process? The main methodological approach in this study is design science, where the main objective is to develop tentative solutions to real-life problems. The research data has been collected from two organizations. Managerial problems in organizing demand forecasting can be found in four interlinked areas: 1. defining the operational environment for forecasting, 2. defining the forecasting methods, 3. defining the organizational responsibilities, and 4. defining the forecasting performance measurement process. In all these areas, examples of managerial problems are described, and approaches for mitigating these problems are outlined.

Improving and User Interface to E-Procurement Software Used in Asset Accounting and Investigating Effects to Efficiency

This diploma thesis has been done to international organization which takes care from the accounting actions of two major companies. In this organization are used three different purchasing tools which are used when new asset master data is wanted to input to SAP R/3- system. The aim of this thesis is to find out how much changing the user interface of one of these three e-procurement programs will affect to overall efficiency in asset accounting. As an addition will be introduced project framework which can be used in future projects and which help to avoid certain steps in the development process. At the moment data needs to be inputted manually with many useless mouse clicks and data needs to be searched from many various resources which slow down the process. Other organization has better tools at the moment than the myOrders system which is under investigation Research was started by exploring the main improvement areas. After this possible defects were traced. Suggested improvements were thought by exploring literature which has been written from usability design and research. Meanwhile also directional calculations from the benefits of the project were done alongside with the analysis of the possible risks and threats. After this NSN IT approved the changes which they thought was acceptable. The next step was to program them into tool and test them before releasing to production environment. The calculations were made also from implemented improvements and compared them to planned ones From whole project was made a framework which can be utilized also to other similar projects. The complete calculation was not possible because of time schedule of the project. Important observation in the project was that efficiency is not improved not only by changing the GUI but also improving processes without any programming. Feedback from end user should be also listened more in development process. End-user is after all the one who knows the best how the program should look like.

Improving inventory management

Having inventory to cover from all possible problems would increase the inventory level indefinitely in accordance with the standard deviation. If the materials in stock are not used, but kept just to be on the safe side, they are waste. The main objective of this study was to find out, how much inventory is required to cover the requirements, without causing delivery problems towards the end-customers, and how the inventory could be controlled efficiently. Several improvements were made in the controlling principles, and the inventory level was quickly decreased by more than 30 %, and kept on the reached level. The suitability of kanban control was investigated, and it was eventually taken into some use. A great advantage was found in the new procedures in securing the supply. The requests for quotations were diversified, and the faulty basis was corrected. Thus, the inventory surplus would later be avoided, and at the same time, a lot of valuable time was saved from daily routines to further improvement projects.

Asiakkuuksien johtaminen kuljetusalan pk-yrityksessä

The profitability on transportation field has been low for a long time. The re-cession that started in the fall of 2008 has caused even more trouble to transportation companies as the number of transportations has gone down and the competition has gotten tougher since the time before the recession. Because the low profitability level does not allow competing with prices, transportation companies must come up with other means to differ from their competitors. The main goal of the research was to find out how a small and medium-sized enterprise (SME) on transportation field should manage its customer relationships. Due to limited resources, companies should direct their resources to serving their most valuable customers. Companies should first make a determination of their customer base. This works as a base for establishing customer portfolios, in other words making customer groups based on e.g. profitability, buying volumes and loyalty. Companies can gain competitive advantage also by improving their service quality. Important information regarding the selection criteria of a transporta-tion company, transaction methods, service time and accessibility of person-nel, customers’ expectations on transportation company’s personnel, utiliza-tion of IT-solutions as a part of transportation service, the image of a transportation company and necessity of quality control meetings was gathered for this research by interviewing customers. By utilizing this information, transportation company can adapt its service offering to equal the customer needs and expectations better. A service process example was created to improve the service quality of the transportation company. It shows the whole process from the customer sending the transportation order to the point when the customer receives an invoice from the transportation company. The example process shows the most fragile stages of the service process: the interaction points. An example of this is when the driver and the customer meet at the unloading place. The results show that even a SME can have the opportunity to succeed in competitive markets by managing CRM. Expensive software are usually out of reach of a SME, but having a CRM software does not automatically guar-antee success in customer relationship management. Small and medium-sized firms can commit their current customers and recruit new customers by utilizing customer knowledge, offering top quality service, being innovative and offering functional services.

Project and customer profitability analysis: an empirical case study

The objective of this case study is to provide a Finnish solution provider company an objective, in-depth analysis of their project based business and especially of project estimation accuracy. A project and customer profitability analysis is conducted as a complementary addition to describe profitability of the Case Company’s core division. The theoretical framework is constructed on project profitability and customer profitability analysis. Project profitability is approached starting from managing projects, continuing to project pricing process and concluding to project success. The empirical part of this study describes the Case Company’s project portfolio, and by means of quantitative analysis, the study describes how the characteristics of a project impact the project’s profitability. The findings indicate that it really makes a difference in project portfolio’s estimated and actual profitability when methods of installation and technical specifications are scrutinized. Implications on profitability are gathered into a risk assessment tool proposal.

Investointilaskennan kehittäminen elintarviketeollisuuden yrityksessä

Tämän työn tavoitteena on kehittää elintarvikealan yrityksen investointilaskentaa osana teknologiaprosessia. Työssä kehitetään investointien laskennallista mallintamista ja analysoidaan investointeja elintarviketeollisuuden näkökulmasta. Investointilaskennan kehittäminen toteutetaan tapaus-tutkimuksena ottaen huomioon case yrityksen tarpeet. Tässä työssä empiriaosa pohjautuu teoriaan, joka koostuu pääasiassa investointiprosessista, investointilaskennan komponenteista ja investointi-laskentamenetelmistä sekä riskianalyysistä. Työssä käsitellään kohdeyrityksen investointiprosessia ja analysoidaan laskelmien muuttujia kohdeyrityksen kannalta. Investointilaskennan kehittämisellä pyritään analysoimaan investointeja monipuolisemmin pidemmällä aikajänteellä sekä tekemään laskelmia enemmän investointiteorian mukaisella tavalla. Empiriaosan taustalla vaikuttaa kuitenkin vahvasti myös kohdeyrityksessä tehdyt haastattelut sekä osallistuvan havainnoin kautta saadut tiedot. Vaikka investointilaskentaa kehitetään monipuolisemmaksi, kannattaa investointiin liittyviin epävarmuuksiin kiinnittää huomiota. Työn tuloksena yrityksessä otetaankin käyttöön investointeihin liittyvä riskianalyysi.

Natural and synthetic fibres improving tensile strength and elongation of paper products

The theory part of the Master’s thesis introduces fibres with high tensile strength and elongation used in the production of paper or board. Strong speciality papers are made of bleached softwood long fibre pulp. The aim of the thesis is to find new fibres suitable for paper making to increase either tensile strength, elongation or both properties. The study introduces how fibres bond and what kind of fibres give the strongest bonds into fibre matrix. The fibres that are used the in manufacturing of non-wovens are long and elastic. They are longer than softwood cellulose fibres. The end applications of non-wovens and speciality papers are often the same, for instance, wet napkins or filter media. The study finds out which fibres are used in non-wovens and whether the same fibres could be added to cellulose pulp as armature fibres, what it would require for these fibres to be blended in cellulose, how they would bind with cellulose and whether some binding agents or thermal bonding, such as hot calendaring would be necessary. The following fibres are presented: viscose, polyester, nylon, polyethylene, polypropylene and bicomponent fibres. In the empiric part of the study the most suitable new fibres are selected for making hand sheets in laboratory. Test fibres are blended with long fibre cellulose. The test fibres are viscose (Tencel), polypropylene and polyethylene. Based on the technical values measured in the sheets, the study proposes how to continue trials on paper machine with viscose, polyester, bicomponent and polypropylene fibres.

Improving Quality of Life of Patients With Schizophrenia In Acute Psychiatric Wards

The overall goal of this study was to identify means by which the quality of life (QoL) of patients with schizophrenia could be improved in acute psychiatric wards. First, subjective QoL of patients (n=35) was explored. Second, two different QoL instruments (EuroQoL-5D, EQ-5D; Quality of Life Enjoyment and Satisfaction Questionnaire Short Form, Q-LES-Q SF) were examined. Third, patients’ (n=35) and nurses’ (n=29) perceptions of nursing interventions to support patients’ QoL were examined. Fourth, the effect of three different patient education methods on patients’ QoL (n=311) was compared. The data were collected during the period 2005-2007. Patients named health, family, leisure activities, work or study, and social relationships most frequently as their important QoL areas. It emerged that patients’ QoL was impaired. Examination of two QoL instruments showed that the EQ-5D has moderate and the Q-LES-Q SF good internal consistency. Moreover, both instruments proved to be reasonably valid and feasible for use with patients with schizophrenia. Altogether six nursing interventions which nurses use to support patients’ QoL, and which should be further developed were identified from nurses’ descriptions: interventions related to care planning, empowering interventions, social interventions, activating interventions, security interventions, and interventions to support physical health. Evaluation of different patient education methods showed that patients’ QoL improved significantly during follow-up. No significant differences between groups were found. In light of the findings it is recommended to assess QoL of patients with schizophrenia as a basis for care planning and care evaluation in clinical settings. Valid and feasible instruments should be used in this assessment. Moreover, it is recommend that nursing interventions should be further developed to better improve patients’ QoL.