Customer Service Costs Research Articles

The role and possibilities of using blockchain technologies in the sphere of digital identification in Ukrainian banks

The purpose of the paper is to study the role and possibility of using blockchain technology in the field of digital identification in Ukrainian banks. To achieve the goal, the following tasks were performed in the research process: concepts, advantages and disadvantages of blockchain technology were considered; the possibilities of its use in the field of digital identification in Ukrainian banks were investigated. It is noted that information technologies have dramatically affected various spheres of social life in recent decades. Ukrainian banks are also, step by step, revealing the enormous potential and advantages of the latest technologies, which already today enable them to improve the efficiency of financial operations, ensure security and reduce customer service costs. It was also noted that blockchain in banking has a huge potential to improve efficiency, security, autonomy and control, but at the same time needs to overcome numerous technical and organizational challenges. It is noted that digital identification is a relatively new direction that has great potential in the modern world of digital technologies. It enables individuals and legal entities to verify and confirm their identity or status online without the need for physical presence or presentation of paper documents. However, the issue of privacy, security and standardization is acute here. The implementation of blockchain technology can be one way to solve some of these issues, providing a reliable and secure digital identity system that will allow users to control their data and provide a high level of protection against cybercriminals. The conclusion noted that the use of blockchain technologies in the field of digital identification has the potential to improve the quality of service and ensure a high level of protection of personal data of Ukrainian banks and their customers.

Reshaping 3PL Operations: Machine Learning Approaches to Mitigate and Manage Damage Parameters

In the third-party logistics (3PL) environment, it is very important to reduce damage parameters, increase operational efficiency and reduce costs. This study aims to develop strategies for reshaping 3P operations by analyzing the parameters involved in damage control with machine learning. The logistics sector is gradually growing in the world and the potential of the sector is better understood over time. Damage to products in the logistics sector, especially during transportation and storage, not only causes financial losses but also affects customer productivity and operational efficiency. With the use of artificial intelligence techniques, it is possible to determine consumer expectations, predict damage losses, and develop innovative strategies by applying machine learning algorithms. At the same time, options such as driverless vehicles, robots used in storage and shelves, and the easy use of big data within the system, which have emerged with artificial intelligence, minimize errors in the logistics sector. Thanks to the use of artificial intelligence in the logistics sector, businesses are more efficient. This study includes an estimation study in the field of error parameters for the logistics service sector with machine learning methods. In the application, real data of a 3PL company for the last 5 years is used. For the success of 3PL companies, warehousing and undamaged delivery of products are of great importance. The fewer damaged products they send, the more they increase their value. The company examined in the study kept its damage data and wanted it to be analyzed so that it could take precautions accordingly and follow a more profitable path. For this reason, the study focuses on data on errors and damages. This study shows what kind of problems can occur in such a company and how the 3PL company can evaluate the problems to increase customer service quality and cost efficiency.

Solving the uncapacitated facility location problem under uncertainty: a hybrid tabu search with path-relinking simheuristic approach

The uncapacitated facility location problem (UFLP) is a well-known combinatorial optimization problem that finds practical applications in several fields, such as logistics and telecommunication networks. While the existing literature primarily focuses on the deterministic version of the problem, real-life scenarios often involve uncertainties like fluctuating customer demands or service costs. This paper presents a novel algorithm for addressing the UFLP under uncertainty. Our approach combines a tabu search metaheuristic with path-relinking to obtain near-optimal solutions in short computational times for the determinisitic version of the problem. The algorithm is further enhanced by integrating it with simulation techniques to solve the UFLP with random service costs. A set of computational experiments is run to illustrate the effectiveness of the solving method.

Artificial Intelligence and Natural Language Processing Inspired Chabot Technologies

Abstract: Chatbots use artificial intelligence (AI) and natural language processing (NLP) algorithms to construct a clever system. By copying human connections in the most helpful way possible, chatbots emulate individuals and serve as virtual assistants. They easily interface and respond to customers' requests. In the modern technical environment, these conversation agents or chatbots are considered the next-generation invention. Chatbot has become more popular in the business field right now as it can reduce customer service cost and handle multiple users at a time. There are many techniques used to involve such intelligent experts in daily business. A comprehensive analysis of the methods is needed to determine the viability of the different strategies. This paper tracks the progress of this invention and further clarifies the influence of chatbots on numerous businesses. Besides, a survey of the multiple chatbot methodologies suggested by various researchers is provided. Along with the survey, a chatbot e-commerce customer service is designed to provide an efficient and accurate answer for any query based on the dataset of frequently asked questions. This chatbot can reduce customer service costs and can handle multiple customers at the same time.

The impact of blockchain technology on customer attitude and behavioral intentions in the banking sector

This study examines customer attitudes towards blockchain technology (BCT)-supported banking applications in Oman and explores the relationship between these attitudes and behavioral intentions, highlighting the influencing factors. Blockchain Technology (BCT) has disrupted the banking sector, but understanding customer attitudes towards BCT-supported banking applications and their impact on behavior remains limited. In pursuit of this objective, a quantitative research design was employed, involving the collection of data from retail bank customers in Oman through a structured questionnaire. The collected data underwent rigorous analysis using a robust Structural Equation Model, confirming the constructs' validity, reliability, and distinctiveness. The study uncovered that BCT has a positive impact on various aspects of the banking sector, including customer service quality, regulatory compliance, secured transactions, and cost reduction. By augmenting transparency, efficiency, and trust in banking transactions, BCT significantly improves customer attitudes towards BCT-supported banks. Furthermore, the research reveals that positive attitudes play a pivotal role in influencing customers' intentions to prefer and continue using these blockchain-backed banks. The study also highlights the importance of trust factors and transaction frequency as moderators in shaping customer attitudes and behavioral intentions in this context. The insights gleaned from this research hold practical significance for banks operating in Oman, offering guidance for tailored marketing campaigns, product design, and aligning their offerings with customer expectations in the realm of blockchain-supported banking applications. Additionally, the study provides practical recommendations for the successful implementation and adoption of blockchain-supported financial applications within the banking sector.

COVID-19, bank risk, and capital regulation: The aggregate shock and social distancing

In this study, we introduce a novel spatial framework to examine the impact of the aggregate shock and social distancing policies stemming from the COVID-19 pandemic on banks' incentives to monitor entrepreneurs. Our findings reveal that banks raise their loan rates to compensate for losses caused by the aggregate shock, which, in turn, enhances their monitoring efforts. However, the default probability still rises. The government's expansionary monetary policy, implemented in response to the COVID-19 crisis, can help mitigate these effects. Additionally, social distancing measures have led to either increased customer service or higher preparation costs for entrepreneurs seeking loans, both of which ultimately benefit the banks' monitoring efforts. We further explore social welfare analysis, the role of capital regulation, and several other relevant extensions.

Financial inclusion in Peru: Appraisal and perspectives

Financial inclusion is a relevant matter that is constantly being looked upon, given its influence in reducing poverty and enabling the low-income population to access financial products and services, thus improving their living condition. This research aims to analyze the evolution of financial inclusion in Peru during the last seven years (2016-2022);also, it takes into consideration information from secondary source databases, such as reports from the World Bank, the Superintendencia de Banca y Seguros, and the Banco Central de Reserva del Perú. The method used has a descriptive and explanatory design. The findings of the research provide evidence that 56% of the Peruvian population has access to financial services (64% in urban areas and 31% in rural areas), which falls below the goal of 75% set by the Peruvian government. This gap can be attributed to customer service costs, including in-person service or adequate infrastructure for better service (access limitations), and poor financial education (limiting broader usage).

AUTOMATION OF COMMERCIAL FUNCTION PROCESSES ON THE EXAMPLE OF A NATIONAL LOGISTICS OPERATOR

Automation of commercial processes is an important step to optimize the work of companies. It allows companies to automate routine operations, freeing employees from manual work and allowing them to focus on more important tasks. It also allows customers to switch to self-service. For a National logistics Operator, there are several key processes that can and should be automated. Application management, order management, document management and financial management - all these processes can be automated using specialized systems such as CRM, Client's personal account and electronic document management systems. Automation of application management can conveniently make receiving and processing applications, as well as tracking the process of their execution. Order management can be automated using the Client's personal account, which allows you to form requests for transportation and track their status. Document management can be automated using electronic document management systems that allow you to automatically generate documents, keep records of documents and exchange them with partners. Automation of financial management allows companies to pay for services via mobile phone or Internet banking, which reduces the cost of visiting banks and other expenses. This article describes the basic principles of automation of the commercial function of a logistics operator through reengineering, as well as the advantages that companies can get from their implementation. The article discusses the most common methods of automation of commercial processes and provides examples of successful implementation. In addition, the article highlights the problems associated with the low efficiency of commercial function processes in a logistics company and offers methods and tools to solve them. The main conclusion of the study is that the automation of processes allows you to reduce the cost of customer service, improve the quality of services and increase the competitiveness of the company.

Service provision on an aggregator platform with time-sensitive customers: Pricing strategies and coordination

The increasing tendency to fulfill customer needs via virtual platforms has led to a rapid growth of sharing economy. This practice allows non-entrepreneurs to set up a business and firms to focus on their core operations by outsourcing tasks related to attracting, finding, contracting, and invoicing customers. Hence, potential entrepreneurs and firms face the question whether to penetrate a market directly or through a platform, and to what extent. In this work, we focus on providers who offer unique services and make a choice between enlisting in a demand aggregator’s platform and reaching the market directly; due to the unique services, we assume that the providers may have sufficient power to set the wholesale price that is paid to the platform. A game-theory model in a queueing framework is developed to address the questions of mode selection and pricing strategies. Such settings allow to include customers who are sensitive in delays in product/services delivery and exhibit strategic behavior. We show that under single-price contracts channel profits are adversely affected due to double marginalization. The latter effect can be mitigated by time-dependent pricing involving delay compensation or a revenue sharing contract, resulting in system coordination. We identify the equilibrium strategies and the provider’s optimal policy. We also derive insights on the combined effects of key parameters such as the market size, the direct cost of customer service, and the aggregator’s reservation level on the optimal pricing strategies, and quantify their impact.

Management and Sustainable Development of Insurance Companies

The report examines some aspects of the management of insurance companies for the purposes of sustainable development of the business. This is a starting point in building the corporate and business strategy of insurance companies. The sustainable development of the business is also the ultimate goal of the main activities of the insurer such as: - indemnification of the insured upon occurrence of the covered risks under the insurance contracts; – risk management in accordance with the principles of insurance; – providing value to the insured; – claims management by observing correct payment under the contractual terms, quality customer service and minimal costs; – return on investment of insurance funds. The main factors for sustainable development related to strategic planning and activities related to insurance are analyzed: sales, claims management, investment management, administration, other.

Efficient chatbot for complaint registration

This is a web application designed to manage all police stations in the area. The system consists of four modules, such as the admin module, investigator module, user module, and visitor module. The user is the one who registers the complaint after logging in. The visitor is a user without registration. Visitors can view live news, helpline numbers, and a list of missing persons. In the area, all police stations are managed and administrated by the Superintendent of Police (SP) in this application. Complaints will be taken by the investigator (Police Sub Inspector (PSI)) of the police station entered by the user. If the investigator cannot resolve this complaint, they may forward this complaint to the administrator. The Administrator manages the complaints sent by the investigator and assigns the cases to a higher investigator such as a Circle Inspector (CI), Deputy Superintendent of Police (DSP), etc., and the admin will manage the police stations working under its control. The investigator processes the cases assigned by the administrator and resolves it. Conversational interfaces, also called chatbots, are the best and newest way to get people involved in working with computer systems. Optimizing the use of chatbots between services and people enhances the customer experience. At the same time, companies are being given new opportunities to improve operational efficiency and the customer experience process by reducing typical customer service costs. To be successful, a chatbot must perform these tasks effectively. Human support is needed when approaching. Human intervention is critical to optimizing, customizing, and training a chatbot system.

Assessment of the Implementation of New Digital Technologies in Connection with the Level of Efficiency of Supply Chains in the Context of COVID-19

Introduction. In the extreme conditions of the COVID-19 pandemic, the vitality of supply chains has come to the fore, that is, their ability to self-support and survival in a changing environment through restructuring and rescheduling of productivity with long-term consequences. An effective information system and governance can help not only improve customer service and control costs but also facilitate planning to achieve key sustainability indicators such as environmental, economic, and social development. The purpose of this paper is to assess the impact of the widespread adoption of new digital technologies on the level of efficiency of supply chains in the face of disruption caused by the pandemic. Materials and Methods. For this study, statistical data were collected for the period from 2010 to 2019. Sources: Organization for Economic Cooperation and Development; The World Bank; Institute for Global Entrepreneurship and Development, etc. A logical-heuristic algorithm was used to form a system of indicators for assessing the effectiveness of information and communication technology and logistics. Results. It has been found that countries with a high level of economic development as evidenced by persistently high values of gross domestic product in the pre-crisis period show high indicators both in terms of the efficiency of logistics systems and in terms of digital transformation of the economy. At the same time, countries with low and below-average levels of economic development do not show high results in the context of logistics systems, but they also do not demonstrate a correlation between the level of economic development and the level of logistics efficiency and the level of digital life. Conclusion. Thus, the study has shown that the role of information and communication technology in improving the efficiency of supply chains becomes significant in favorable economic conditions in the country, and in times of crisis, the role of information and communication technology significantly increases and contributes to the restoration of supply chains and the survival of business in general.

AGENCY COST OF CREDIT ON MICROFINANCE INSTITUTIONS OF COOPERATIVE AND RURAL BANK TYPE

Historically, most microfinance providers are in the form of cooperatives, while some policies studies recommend shareholders ownership because it can reduce the risk of capital costs and charges opportunism manager. This study aims to analyze the factors in the cost of ownership that distinguishes MFI with the type of cooperative ownership and village banks. The study was conducted by using secondary data from the MIX (Microfinance Information Exchange) market year 2007-2013. The factors Influencing the determinants of MFI ownership costs were Analyzed using multiple logistic regression analysis technique. The study found that the MFI of cooperative has advantages in operational efficiency and credit risk while village banks have advantages in the cost of customer service, cost of debt, cost of capital, social performance and financial performance.

Resource-capability of halal logistics services, its extent and impact on performance

PurposeThe purpose of this paper is to examine the extent of emergent resource-capability, its configurations and its impacts on customer service innovation and cost advantages in the context of the halal dynamic environment.Design/methodology/approachThe study performed a cluster analysis on a sample of 123 Malaysian halal-based third-party logistics (3PL) providers.FindingsThe findings reveal that the emergent resource-capability comprising physical, technology, knowledge, relational and organizational is advanced uniformly into low, medium and high level. The high resource-capability is significantly different with the medium and low resource-capability, while the medium resource-capability is significantly different with the low resource-capability. The extent of emergent resource-capability has a significantly positive effect on customer service innovation and cost advantage. Especially, high and medium resource-capabilities have enhanced greater customer service innovation and cost advantage significantly, indicating the higher the extent of resource-capability, the greater the enhancement of performance.Practical implications3PL providers or logistician professionals should understand the extent of emergent resource-capability to empower the competitiveness of service innovation and cost in the dynamic environment.Originality/valueThe study expands the knowledge with regard to resource-capability complexities which clarify the uniform extent of five emergent resource-capability naturally and provides empirical evidence on the emergent resource-capability of halal logistics services that can empower a successful halal logistics services and competitiveness.

Development Strategy of Securities Investment Industry under the Background of Artificial Intelligence

The application of artificial intelligence technology in the field of securities investment is becoming the next hotspot of Internet finance. The purpose of this paper is to study the development strategy of securities investment industry based on the background of artificial intelligence. First of all, after understanding that there will be revolutionary changes in the field of securities investment, this paper studies three strategies for the development of securities investment industry: establishing the registration and filing system of securities investment intelligent agent, establishing the source code notarization system of securities investment intelligent agent and constructing the regulatory framework suitable for inclusive financial services. The research method of empirical analysis is adopted to obtain customer data through more than two different channels. The experimental results show that the research method of empirical analysis is adopted. According to the feedback of 108 companies’ questionnaires, 55 companies have indicated that they have used artificial intelligence technology in investment consulting business, accounting for 50.93%. Of the remaining 53 companies that did not use AI technology, 28 said they had plans to launch related businesses. At present, artificial intelligence is widely used in the securities industry for customer portrait and account diagnosis, information service, and robot customer service. Its purpose is mainly to reduce customer service costs and expand the coverage of customer service. At the same time, it has begun to gradually layout investment tools to try to improve customer investment difficulties and improve customer service level.

Global optimisation for a developed price discrimination model: A signomial geometric programming-based approach

This paper presents a price discrimination model for a manufacturer who acts in two different markets. In order to have a fair price discrimination model and compare monopoly and competitive markets, it is assumed that there is no competitor in the first market (monopoly market) and there is a strong competitor in the other market (competitive market). The manufacturer’s objective is to maximise the total benefit in both markets. The decision variables are selling price, lot size, marketing expenditure, customer service cost, flexibility and reliability of production process, set-up costs, and quality of products. The proposed model in this paper is a signomial geometric programming problem which is difficult to solve and find the globally optimal solution. So, this signomial model is converted to a posynomial geometric type and using an iterative method, the globally optimal solution is found. To illustrate the capability of the proposed model, a numerical example is solved and the sensitivity analysis is implemented under different conditions.

Organización de los servicios de Vacunación Internacional en España

Los Centros de Vacunación Internacional en España son los encargados de la atención sanitaria preventiva de los viajeros internacionales en todo el territorio nacional. Son centros de titularidad pública, pero de dependencia administrativa diferente, según sean centros de Sanidad Exterior, dependientes del Gobierno central (Ministerio de Sanidad) o centros de los servicios autonómicos de salud, que funcionan en las diferentes Comunidades Autónomas bajo la figura de la encomienda de gestión, ya que en España se considera la vacunación internacional como parte intrínseca de la Sanidad Exterior y, como tal, es una competencia exclusiva del Estado. Esta organización ha dado lugar a diferentes prestaciones, sistemas de atención al usuario y costes, según la región y el tipo de centro al que acude cada viajero, resultando en un sistema complejo de entender y poco equitativo. La organización de la vacunación internacional en España, además, difiere de la mayoría de los países del mundo, ya que no existen en la práctica centros privados que ofrezcan este servicio, siendo únicamente un servicio de la sanidad pública, con lo que el coste para los usuarios es sensiblemente menor que en la gran mayoría de los países de Europa o en EEUU y Canadá. La falta de centros privados de vacunación internacional en España se debe fundamentalmente a la imposibilidad de prescribir y administrar la vacuna contra la fiebre amarilla, ya que, hasta ahora, el Ministerio de Sanidad no concede autorización para dicha administración a ningún centro privado.

Enhancing Customer-Supplier Coordination Through Inventory Decision Rights Transfer

This paper analyzes alternative customer-supplier relationships based on agreements governing material flow and ordering decision rights, as well as the sharing of inventory and shortage costs. Material flow in a supply chain typically is determined by the orders placed by a to its immediate upstream supplier. The consequences of poor customer service and high inventory costs, however, affect both parties involved; thus, there are many cases where nonstandard customer-supplier arrangements have been adopted. We introduce a model that captures both decentralized and centralized ordering, as well as variants based on the allocation of decision rights to either the upstream supplier, i.e., supplier-managed inventory (SMI), or to the downstream customer, i.e., customer-managed inventory (CMI). We develop optimal inventory stocking polices for both parties involved and derive necessary and sufficient conditions for adopting one of the relationships. Our model includes parameters that capture modifications to the incentive structure based on cost sharing mechanisms, which impact the ultimate relationship choice. We then apply the model to analyze four well-known industry examples, Barilla, Saturn, Boeing, and Hewlett Packard, where either SMI or CMI was adopted. The parameterization of the model can capture the different aspects of each company’s supply chain in a realistic manner. We illustrate how the modified incentive structure can generate benefits for the customer, the supplier, and the end consumers (i.e., win-win-win), and determine the gap for achieving the first-best performance. This paper concludes with a discussion of managerial implications and opportunities for incorporating additional consequences of the relationship choice.

Research on the Construction of Logistics Informatization Evaluation System for Large State-owned Energy Enterprises

Through the analysis of the status quo of informationization of energy logistics system, this paper builds a logistics information evaluation system for large state-owned energy enterprises. The evaluation system consists of four major criteria: information infrastructure construction status, business operation status, customer service status, cost and profitability. The entropy method and analytic hierarchy process are used to determine the weight of the indicator evaluation system. The qualitative and quantitative analysis methods are used to establish the evaluation system. Comprehensive evaluation model. Finally, it puts forward opinions on improving the informationization of energy enterprise logistics.

Penerapan Cuckoo Search Algorithm (CSA) untuk Menyelesaikan Uncapacitated Facility Location Problem (UFLP)

The aim of this research is to solve Uncapacitated Facility Location Problem (UFLP) using Cuckoo Search Algorithm (CSA). UFLP involves n locations and facilities to minimize the sum of the fixed setup costs and serving costs of m customers. In this problem, it is assumed that the built facilities have no limitations in serving customers, all request from each customers only require on facility, and one location only provides one facility. The purpose of the UFLP is to minimize the total cost of building facilities and customer service costs. CSA is an algorithm inspired by the parasitic nature of some cuckoo species that lay their eggs in other host birds nests. The Cuckoo Search Algorithm (CSA) application program for resolving Uncapacitated Facility Location Problems (UFLP) was made by using Borland C ++ programming language implemented in two sample cases namely small data and big data. Small data contains 10 locations and 15 customers, while big data consists 50 locations and 50 customers. From the computational results, it was found that higher number of nests and iterations lead to minimum total costs. Smaller value of pa brought to better solution of UFLP.