Economic Order Research Articles

Inventory pricing model under different carbon emission policies

Considering carbon emission in inventory management model is a hot topic in current academic circles. Studying inventory pricing can provide managers with better managerial insights. Economic order quantity model mainly solves the inventory management problem of demand determination. However, due to the complex market environment in real life, it is difficult to meet the conditions of constant demand. In addition, with the enhancement of low-carbon awareness of enterprises, the study of pricing model based on low-carbon policies has also attracted the attention of a large number of scholars. The robust optimization theory is applied, the inventory pricing model of demand fluctuation under carbon cap, carbon tax and carbon cap-and-trade policies is considered, the robust equivalence form of the problem is studied. The profit comparison under different policies is given. Numerical experiments show that the carbon cap-and-trade policy can better control the carbon emission of enterprises.

A Time to Kill: Third World Assassinations and the Anxiety of Domination

The decades between 1960s and 1980s were punctuated by intense anti-colonial and anti-imperialist struggles, the rise of Third World internationalism (both in terms of formal and informal connections), the articulation of viable economic alternatives to those imposed by the West, but also a massive wave of counterrevolution with bloody coups, assassinations, and interventions. Symbolically, the long 1960s started with Patrice Lumumba's assassination and ended in 1980 with Walter Rodney's assassination, and the defeat of the NIEO (New International Economic Order). While numerous analyses have engaged with these assassinations as historical events, this article seeks to provide a theoretical engagement with the phenomenon of Third World assassinations. The author's engagement with this phenomenon aims to broaden the idea, put forth by Quynh Pham and Himadeep Muppidi, of the “anxiety of domination.” Drawing on Edward Said, James Baldwin, and Eqbal Ahmad, the article seeks to situate theoretically Third World assassinations within a larger paradigm of colonial/imperial anxiety: these acts of annihilation happened not simply because these individuals were on the opposite ideological divide but because their political vision exceeded the grasp of domination and intelligibility of imperial/colonial power and challenged in fundamental ways the imperially sanctioned “epistemic conformity.”

THE EAST HINDIA COMPANY'S TRADE AND THE MOESLIM ECONOMY IN THE MUGHAL SULTANATE OF INDIA, 1610-1630 AD

The Mughal Sultanate was one of the great Islamic sultanates in the classical Islamic era, the Mughal contribution to Islamic civilization in India was very large in terms of politics, culture, architecture, and economy. In the economic field, the Mughals had been independent before the arrival of the EIC in the sultanate in 1610, the Mughals had exported a lot of their agricultural and mining products to both Asia and Europe by cooperating with Muslim merchants, as well as land rulers both Muslim and Hindu. The arrival of EIC in the Mughal Sultanate changed the existing economic order because EIC in smoothing its business often entered into contracts with landlords and bribes with the Mughal apparatus it had significant implications for the development of the Islamic economy in the Mughal Sultanate. EIC also played a monopoly in India and outside India, resulting in the death of the Islamic economy. Eventually, many Muslim merchants and landlords turned to EIC for the sake of their business.

Pengendalian Persediaan Bahan Baku Bawang Merah Untuk Produksi Bawang Goreng Dengan Metode Economic Order Quantity (EOQ) Dan Just In Time (JIT)

Effective planning to manage the procurement of raw materials is crucial for maintaining productivity in production activities and controlling costs. Indonesian enterprise UD. XYZ is dedicated to the manufacturing of fried onions. However, between April 2022 and June 2023, there have been regular fluctuations in the raw material availability for the production process, which has resulted in subpar output levels and unmet demand. To solve this problem, this study will use time series forecasting techniques to estimate the demand for fried onions and the Economic Order Quantity method to control raw material supply. Furthermore, this study uses the Just In Time approach to determine the minimum inventory cost. Both systems are anticipated to lessen the effects of changes in raw material availability. Based on the research results, the linear regression method was used for forecasting, which predicted an average demand of 1354 Kg of fried onions with a MAPE value of 2,79%, MAD 27,59, and MSD 1317,81. Then, an EOQ value of 1992,85 kg was calculated using the Economic Order Quantity (EOQ) and Just In Time (JIT) methods. This resulted in a total minimum storage cost of Rp. 2.989.271.

Development of managerial economics as a component of economic theory

The object of research is managerial economics, which is considered as a component of economic theory. The scientific problem is that there are such concepts as management and managerial economics, which are tangential and somewhat overlapping. Managerial economics is included in the structure of the economic system as a separate component. It is also proven that managerial economics is a systemic entity and has the following levels: global, macro-, meso-, micro- and nano-. The study defined these levels and outlined the use of the global (international) and macro levels. Analysis of these categories is necessary for understanding the governance and governance conditions of global and national economies. The essence of the obtained results is that the existing system of managing international relations is inflexible and difficult to solve the global problems of humanity. And the management of national economies must correspond to the strategic development plans of a particular nation. These obtained results can be explained by the immobility of management structures and the need to revise the global economic order. At the state level, there should be levers for regulating economic relations. It was noted in the work that society is a set of people united at a certain stage of historical development by one or another economic relations that determine all other social relations. The economic life of society consists of various phenomena and processes, the essence of which must be sought in social production. The concept of «managerial economics» is often used to characterize the regulation of social production. There are different approaches to defining the content of managerial economics. First, managerial economy is considered as regulation by a set of industries and types of material production. Secondly, a system of regulation of productive forces and production relations is usually associated with managerial economics. Thirdly, managerial economics regulates the conditions for achieving equilibrium and cyclicality of social production.

Leveraging Inventory Management for Enhanced Performance in Elementary School Cooperatives: Case Study from Majalengka Regency

Cooperatives play a significant role in promoting economic growth by not only increasing community income but also providing employment opportunities in the small business sector. For cooperatives to effectively support the economic development of villages, it is crucial for them to function as healthy business entities. One way to enhance their efficiency is by ensuring consistency in their managerial activities, ranging from planning to control, including inventory management. SD "X" Cooperative, located in Majalengka, engages in retail trading activities through a mini market. The cooperative deals with 19 specific types of items, which require strict inventory control. The governance process starts with determining the optimal quantity of economic orders to avoid shortages or excessive inventory of goods, thus ensuring satisfactory customer service. However, the cooperative currently faces challenges in terms of working capital shortage, hindering its ability to place orders according to the predetermined optimal quantity. Therefore, it becomes imperative to redefine the optimal order placement process by considering the available working capital. Such re-optimization will have an impact on increasing inventory costs, as the optimal order quantity decreases and the frequency of orders becomes more frequent. Despite the decrease in the optimal number of orders, the cooperative strives to fulfill customer demands while managing its limited working capital effectively

Analysis of Raw Material Inventory Control with Using Economic Order Quantity (EOQ) Method

Analysis of Raw Material Inventory Control with Using Economic Order Quantity (EOQ) Method

Analisis Pengadaan Persediaan Bahan Baku Pada Umkm Otr Laundry Dengan Menerapkan Metode Perhitungan Economic Order Quantity (EOQ)

This study aims to determine and analyze the control of the main raw material inventory at OTR Laundry with an inventory management policy using the Economic Order Quantity (EOQ) method. The study focuses on inventory management at OTR Laundry located at Jalan Ciseke, Jatinangor, Sumedang. This study uses a quantitative approach. Primary data in this study were obtained through in-depth interviews with the owner of OTR Laundry and direct observation in the field. Secondary data were obtained from inventory records and the company's financial reports. Data collection techniques used were interviews, observations, and documentation. Data analysis was carried out by calculating optimal inventory requirements using the EOQ method and comparing them with the inventory policy implemented by OTR Laundry. The calculation results show a comparison between the total cost of fragrance inventory calculated based on the OTR Laundry policy and the EOQ calculation method. Savings using the EOQ method compared to the OTR Laundry policy on inventory cost expenditure amounted to Rp313,764. The results of this study are expected to provide recommendations for OTR Laundry in increasing the efficiency of managing the main raw material inventory and reducing operational costs.

Analisis Pengendalian Persediaan dengan Metode Economic Order Quantity (EOQ) untuk Meningkatkan Efisiensi Biaya Persediaan Bahan Baku (Studi Kasus pada Maula Hijab Yogyakarta)

The purpose of this study was to analyze inventory control using the Economic order quantity (EOQ) method to increase the cost efficiency of raw material inventory at Maula Hijab Yogyakarta. This study uses a qualitative approach with data collection methods in the form of interviews, observations, and documentation. The data analysis technique used is a comparative method by comparing the Economic Order Quantity (EOQ) method with the method used by the company to control inventory. The results showed that the application of the Economic Order Quantity (EOQ) method in controlling raw material inventory can minimize the total inventory cost of Rp. 29.713.830 with a total purchase of 84.561 yards each time with a purchase frequency of 6 times. The conclusion of this study shows that the application of the Economic Order Quantity (EOQ) method shows the number of orders that are more economical and can streamline the cost of raw material inventory than the method used by company.

Immersion of Venezuelan Migrant Workers in Colombia

Objective: this research aims to determine the opportunities offered by various societies, which exercise employment contracts, focusing on subjects with migration circumstances, in this case Venezuelans; examining the global challenges and perspectives that a state assumes, the impact that this phenomenon causes on society, along with its consequences and the adaptation processes in the work environment. Theoretical Framework: The driving factors of migration are investigated from the economic, social, political and demographic order. Method: A socio-legal approach and a qualitative paradigm are used, since the information is collected and selected through reading articles, bibliographies and virtual and in-person meetings. Ideas were exchanged and the different research that was found to contribute to the development of the central theme was socialized. Results and Discussion: The main reasons for migration and the working conditions that the state grants to migrants were determined. Research implications: A wide range of areas are covered, from public policies to labor and social practices. Originality/Value: This research examines various aspects from multifaceted perspectives with main relevance in political and social relations.

Political-Economic Comparison of The World Bank and The New Development Bank

Although stated as one of the influential actors in international relations and discussed in many previous studies, MDB had yet to be comprehensively depicted. Through this research, the author intended to fill this gap by comparing the World Bank as a traditional MDB and the New Development Bank as a Neo MDB within the international economic order. By comparing the political and economic anatomy such as ownership structure, distribution of voting power in decision-making, establishment objectives, types of financing services, operational coverage, sources of funding, private sector options, and service customization and examining them using an organizational political-economy approach, the author found both MDBs had significant differences in carrying out their functions as cross-border financial institutions.

An extension of Pontryagin Maximum principle in interval environment and its application to inventory problem

The control theory is one of the most fundamental branches of engineering as it implicates solving abilities of numerous non-linear engineering design problems efficiently. Again, Pontryagin’s maximum principle is one of the most salient topics of control theory as it is involved in solving various important problems. However, in the current highly complex situation, most of such real-life problems appear to be highly uncertain/imprecise in nature. Consequently, in order to analyse such problems accurately, uncertainty/flexibility of such problems cannot be overestimated. Motivating from this fact and as a necessity, in this study, the Pontryagin’s maximum principles are extended in interval environment for interval valued control problems (IVCPs). In this context, an IVCP is defined along with different formal terminologies. Further, the necessary and sufficient optimality conditions (i.e., Pontryagin’s maximum principles) are extended for IVCPs using existing interval ranking proposed by Bhunia and Samanta (2014). Further, in the second part of this work, in order to test the effectiveness of the proposed theories, an economic order quantity (EOQ) model is developed by considering dynamic servicing strategies in interval environment. With the help of numerical example, the proposed extension of Pontryagin’s maximum principles for IVCPs is well validated.

The beautiful risk of participatory education: An empirical example of teaching strong sustainability

The grand challenges of our times are seriously interlinked: ecological crises cannot be tackled separately from social problems. In the strong sustainability approach, a good life for all must be achieved within ecological boundaries. To respect the planetary boundaries, it is required to provide critiques for the current economic, social and political order and suggest concrete actions that may lead to strong sustainability transformation. Business schools must address these challenges and provide solutions through educational content and innovative teaching methods. In this article, we argue that participatory education is the appropriate tool to teach strong sustainability in business schools. Building on Paulo Freire’s critical pedagogy and Gert Biesta’s participatory education theories, we developed a theoretical framework to understand how these theories can strengthen strong sustainability education. Using the analytical framework, we explore the risks of participatory education in our Degrowth course and bring empirical examples of its impacts on students by analysing the reflection articles of 37 students. According to our findings, this particular type of education creates both positive emotions, like enjoyment and enthusiasm, and negative ones, like anxiety and helplessness.

Efficiency Analysis Of Raw Material Inventory Using The Economic Order Quantity (EOQ) Method At Kanoko Coffee Dago

This research aims to determine and analyze the inventory control of raw materials and measure the cost efficiency of production carried out by Kanoko Coffee Dago from September 2023 to December 2023. The research methodology is qualitative, utilizing data collection techniques involving primary and secondary data through observation, interviews, documentation, and literature review. The analysis focuses on the production reports of the four months by comparing the Economic Order Quantity (EOQ) method with the conventional method already applied by the company. The results of the analysis using Economic Order Quantity (EOQ) indicate that the total cost of raw material inventory incurred by the company is higher compared to the total inventory cost calculated using the EOQ method. Therefore, the researcher recommends that the company use the calculation from the EOQ method to save costs on raw material inventory, thereby enhancing production cost efficiency.

Iran’s Look East Policy Under Ebrahim Raisi: Tracing the Rise of a Middle Power

This article adopts a systemic-impact understanding of middle power as an analytical framework to provide a nuanced understanding of Look East Policy under the Raisi administration. It analyses three aspects of Raisi administration’s policy in the regional context of (Eur)Asia: (1) embrace of ‘Asian multilateralism’ (2) ideational strategy drawing on Iran’s identity as a civilizational State and a civilizational conception of Asia (3) projection of Iran as a ‘bridge’ connecting transcontinental connectivity initiatives by China, Russia and India. It concludes that Iran is driven by twin objectives of establishing itself as an independent regional power, while helping shape a post-Western, multilateral economic and security order in (Eur)Asia.

Pivotal power of small states to save the international liberal economic order: the case from East Asia

Small- and medium-sized states acquire significant influence when regional and global orders are in flux, as in times of power transition. We have observed such dynamics especially since the 2008 Global Financial Crisis, when the competition between two superpowers of the United States (US) and China has intensified in such a way that it affects the soundness of the liberal international economic order (LIEO). These smaller states have become influential in the institutionalization of regional political and economic orders when conditions are right. We argue that the following three aspects of a small state’s attributes influence heavily in shaping their proactive approach to LIEO. The first is its economic structure that shapes its motivation. The second is its polity type that defines internal constraints. The third and final component is its international status that imposes external constraints. This study examines trade policies taken by Vietnam, Indonesia, and South Korea from the 2010s and onward and compares their respective approaches and their impacts on economic order-building in East Asia and beyond.

Analysis of Raw Material Inventory Control with A Tabular Approach and Formula Approach Economic Order Quantity (EOQ) to Optimize The Cost of Soybean Raw Material Inventory At The Rizqy Putra Fried Tofu Factory

Inventory management is a crucial aspect in the operations of the manufacturing industry, including in fried tofu factories such as the Rizqy Putra Fried Tofu Factory. The main raw material, namely soybeans, must be managed efficiently to ensure smooth production and minimize the costs incurred. This research aims to determine the inventory control of soybean raw materials applied by Rizqy Putra Fried Tofu Factory, the total inventory cost, and the optimal quantity of soybean raw material orders. This research is quantitative research with a comparative descriptive analysis. The data processed are the inventory purchase and usage reports of soybean raw materials at Rizqy Putra Fried Tofu Factory in 2023. The data analysis method used in this research includes two approaches: the tabular approach and the formula approach with the calculation technique of Economic Order Quantity (EOQ). Based on the results of the research, the inventory control method applied by Rizqy Putra Fried Tofu Factory is the traditional or conventional method, where the total inventory cost of soybean raw materials is Rp. 18,720,000 with details of storage costs amounting to Rp. 18,000,000 and ordering costs of Rp. 720,000 per year, and an ordering frequency of 48 times with an average order quantity of 5,875 kg. Meanwhile, according to the calculation of the formula approach EOQ, the optimal order quantity is 2,880 kg, with an ordering frequency of 24 times and the total inventory cost incurred is Rp. 734,387. The conclusion of this research indicates that based on the calculation of the EOQ formula approach, the total inventory cost of soybean raw materials is more optimal compared to the conventional method applied by Rizqy Putra Fried Tofu Factory.

Navigating stormy waters: a middle power perspective

Abstract Structural shifts in patterns of international production, trade, and investment have been spurred by the globalization of supply chains. Today, however, a range of factors, including wars and sanctions, the increasing divide between Western and Chinese approaches to the economy, the increasing links between economic security and national security, and between trade and environmental regulation, are contributing to the fragmentation of international economic frameworks and growing populist and protectionist sentiment. Competition for advantage through industrial subsidies and the setting of digital and environmental standards risks enshrining a less-than-global economic order. In many fields, however, multilateral cooperation, rulemaking, and enforcement in serving shared objectives, in various international organizations, multi-stakeholder forums, and by the private sector, continues to function well. In this ever-more complex international context, where clubs, coalitions, and informal networks among nations are increasingly prevalent, middle powers are wise to remain both agile and resolute in ensuring that national interests are advanced through smart diplomacy, encompassing working with like-minded in caucuses and informal settings that serve to build broader consensus, engaging business and other stakeholders at home and abroad in support. Canada’s experience and current efforts provide a constructive example for middle powers.

Global economic order and global economic governance

Abstract This issue of the Oxford Review of Economic Policy explores the origins of the US-led liberal multilateral economic order in the post-war world and the threats which that order now faces, drawing on contributions from two different groups of people—academic international relations (IR) scholars and international economists. This introductory essay attempts to weave the various strands of this intellectual collaboration together. First, it provides a narrative history of how economic collaboration emerged in the aftermath of the Second World War. Second, it describes the nature of the global economic governance that emerged and provides a new formal framework for analysing it, making use of the idea of ‘concerted unilateralism’. Third, it explores how contemporary challenges—a broadening of policy requirements, the rise of economic nationalism, and the rise of China as a new hegemon—mean that the global economic order is now in flux. And finally, it concludes with a general observation that runs through the paper: that IR scholars are inclined to analyse international economic regimes, economists to study particular policy proposals, and that these two perspectives can—and should—complement one another.

The BRICS+ Expansion, Global Trade Dynamics, and the Dedollarization Phenomenon

This paper delves into the transformative role of the expanded BRICS bloc, referred to as BRICS+, in the evolving global economic landscape and its implications for dedollarization. The inclusion of nations such as Ethiopia, Saudi Arabia, Iran, Egypt, and the UAE diversifies the bloc's economic and geopolitical reach, extending its influence into new regions like Africa and the Middle East. The study underscores the potential of BRICS+ as a catalyst in the dedollarization narrative, driven by the desire for economic autonomy, geopolitical strategies, and hedging against U.S. dollar volatility. The analysis further explores the intricate relationship between the BRICS+ expansion, global trade dynamics, and dedollarization. The paper concludes by emphasizing the potential of the BRICS+ bloc to reshape global trade dynamics, influence trade policies, establish new trade routes, and foster regional connectivity, all while advancing the agenda of a more diversified and multipolar economic world order.