Fluctuations In Market Demand Research Articles

INTEGRATED FORECASTING AND AGGREGATE PLANNING FOR PRODUCTION OPTIMIZATION: A COMPARATIVE ANALYSIS OF OVERTIME AND SUBCONTRACTING CONTROLS

The current potential market demand with ever-changing situations and conditions must be managed properly to find out the potential market demand in the future. Rumah Warna Yogyakarta is one of the manufacturing industry players that has experienced fluctuations in market demand, even tending to decline from the end of 2021 to mid-2022. Data was obtained from the database and direct interviews with Rumah Warna in Yogyakarta from November 2021 to November 2022. This study aims to determine the prediction of product demand for Rumah Warna Yogyakarta in the next period, so that companies can carry out production planning strategies to minimize production cost. Product demand prediction is carried out using the Grey System method of the GM (1,1) model. Then proceed with the heuristic aggregate planning method that focuses on overtime control and subcontracting control. Based on the results of the analysis, the Grey System GM (1,1) method produces good prediction accuracy of 9.231%. The best aggregate planning method is the overtime control where Rumah Warna Yogyakarta can reduce costs by Rp 351,258,758 when compared to the subcontracting control method.

Identification of Construction Project Risks in the Indian Context: A Case Study on Building Construction

Abstract: This paper presents a comprehensive investigation into the risk factors prevalent in building construction projects within the Indian context, focusing on their identification, ranking, and management strategies. Through data collected from 206 construction professionals via an online questionnaire, the study employs robust reliability analysis, yielding a high Cronbach's Alpha coefficient of 0.898, affirming the questionnaire's internal consistency and reliability. Utilizing the Relative Importance Index (RII) and Safety Risk Score (SRS), the research ranks critical risk factors, including poor stakeholder communication, inaccurate cost estimation, funding delays, and market demand fluctuations, underlining the necessity of addressing these challenges to mitigate potential impacts on project outcomes. The paper emphasizes the significance of proactive risk management strategies to ensure project success and resilience amidst evolving circumstances, providing valuable insights into construction project risks specific to the Indian landscape and offering recommendations for enhancing risk management practices in the field.

SMART OPERATIONS: IMPLEMENTING AI-DRIVEN TECHNOLOGIES FOR ENHANCED EFFICIENCY IN SUPPLY CHAIN MANAGEMENT

Supply chain management is a vital element in a company's overall operations, but is faced with complex challenges such as fluctuations in market demand, logistical complexity, resource limitations, and the risk of disruption. This research aims to explore the role of artificial intelligence (AI)-based technology in overcoming these challenges. This research will be carried out using a qualitative approach, collecting data from various relevant sources and then analyzing it systematically. Through this approach, this research aims to gain a deep understanding of the long-term impact of applying AI to the supply chain, including improving operational efficiency, competitive advantage, supporting sustainability, and the evolution of the human role. The research results show that AI makes a significant contribution to improving companies' operational efficiency, providing competitive advantage through enhanced responsiveness, supporting more sustainable business practices, and enabling the evolution of the role of humans in the supply chain. The practical implication of this research is that the application of AI technology can help companies achieve better performance and prepare for future challenges in an increasingly complex and dynamic business environment.

Information transmit strategy of e-commerce platform with financially constrained supplier

A signaling game model is constructed in the framework of a supply chain system consisting of a financially constrained supplier and an e-commerce platform acting as marketplace and a creditor simultaneously. The primary concern of this work is to investigate how the e-commerce platform, which has superior information about market demand, indirectly communicates this information to the financially constrained supplier through its marketing efforts. Under both separating and pooling equilibria, the decisions and profits of each member of the supply chain are firstly considered. Furthermore, using an “intuitive criterion”, the e-commerce platform’s dominant strategy and its influencing factors are analyzed. The results show that when there is a significant difference in the marginal marketing costs, the platform tends to choose the separating equilibrium. When the difference in marginal marketing costs is relatively slight, the e-commerce platform’s dominant strategy depends on the capital of the supplier and the level of market demand fluctuations. Specifically, the e-commerce platform will select the pooling equilibrium when market demand fluctuations are minimal, but the platform will select the separating equilibrium when market demand fluctuations are substantially large. If the supplier’s capital is increased within a certain range, the e-commerce platform is more motivated to select the pooling equilibrium. In addition, the platform usage fee ratio, the platform loan interest rate and the supplier’s prior beliefs are important factors influencing the platform’s decision.

Strategi Usaha Mikro Pengolahan Salak dalam Meningkatkan Perekonomian Desa Wedi Kecamatan Kapas Kabupaten Bojonegoro

The research focuses on the growth of snake fruit processing micro-businesses in Wedi Village, Kapas District, Bojonegoro Regency, aiming to develop sustainable strategies for their development. The success of these enterprises hinges on a comprehensive understanding of internal and external factors. The study analyzes the pivotal factors influencing the growth of salak processing micro-enterprises. It prioritizes development strategies, particularly emphasizing the interplay between product quality (an internal factor) and market demand (an external factor). Utilizing the Analytic Network Process (ANP) method via Super Decision Software, the research assesses development factors comprehensively. The pairwise comparison analysis highlights the priority of internal and external factors in influencing the growth of snake fruit processing micro-enterprises. The findings underscore the significant impact of external factors, exceptionally high market demand, which scored 0.52276, indicating its crucial role in driving microenterprise growth. Meanwhile, product quality, though scoring lower at 0.09885, remains a strategic focus for long-term sustainability. The WT strategy, involving strategic raw material procurement and price adjustments, emerged as the most effective alternative strategy with a score of 0.35614. This underscores companies' need to optimize procurement processes and adapt pricing strategies to capitalize on market demand fluctuations. The research contributes valuable insights into the dynamics of salak processing micro-enterprises at the local level. The formulated strategy guides micro-businesses, local governments, and research institutions to foster sectoral growth. By considering both internal and external factors, the strategy aims to impact regional economic development positively and sustainably. In conclusion, the research highlights the critical role of understanding internal and external dynamics in fostering the growth of snake fruit processing micro-enterprises. The strategy prioritizes leveraging market demand while maintaining product quality for sustained growth and economic development in the region.

Weekly Tofu Stock Prediction with Mamdani Fuzzy Method

This research aims to predict weekly tofu stock using the Mamdani Fuzzy Method. This method is used to overcome the uncertainty and complexity in estimating tofu stock, which is influenced by various factors such as inventory, ingredients, and ingredient prices. By applying fuzzy logic to describe the uncertainty in the data, this model can provide more accurate stock predictions. This research involves collecting weekly tofu stock data from a specific time period and developing a fuzzy inference system based on relevant input variables. Experimental results and model validation show that the Mamdani Fuzzy Method can be an effective approach to predict weekly tofu stocks with satisfactory accuracy. The practical implications of this research can assist the tofu industry in optimizing inventory management and responding more appropriately to fluctuations in market demand.

ОСОБЛИВОСТІ ЦІНОВИХ СТРАТЕГІЙ ЯК ФАКТОРУ ПІДВИЩЕННЯ КОНКУРЕНТОСПРОМОЖНОСТІ ПІДПРИЄМСТВ В ГОТЕЛЬНІЙ ІНДУСТРІЇ

The article is devoted to the study of factors affecting the pricing process at hotel industry enterprises. In particular, these are the costs of the enterprise, the rate of profit, the level of demand, seasonality, geographical location, stardom, competition and others. Among these factors, more attention is paid to the study of the specifics of specific price strategies in the hotel industry, which serve as a factor in increasing the competitiveness of enterprises in this industry. The choice and implementation of a price strategy is one of the most important decisions of the management of a hotel enterprise, since profitability and competitiveness in the market depend on it. The list of such strategies includes: pricing strategy based on forecasting, differentiated pricing strategy, dynamic pricing strategy, discount strategy, instant sales strategy, and others. Each of these strategies has its own characteristics and is used by hotels depending on their specific goals, market conditions and customer segmentation. The development of a price strategy and price management tactics in the hotel sector is a constant iterative process. It is impossible to choose a strategy once and stay with it unchanged for a long period. It must constantly adapt to market conditions and situations. The chosen pricing strategy cannot be unambiguous, ideal or immutable. It should include a partial interweaving and combination of different strategies, taking into account the conditions of the external and internal environment. A combination and interchange of strategies is effective. The pricing strategy must be flexible and adapt to market changes. In this context, the strategy of elastic (flexible) price, which involves a quick response to fluctuations in market demand and supply, is of great importance. A correctly chosen pricing strategy can provide a hotel with increased competitiveness. The strategy of flexible prices should be recommended as a means of countering competitive pressure. The faster the hotel reacts to the actions of competitors, the greater the effect of its application. Overall, pricing strategy is a key element of success in the hospitality industry as it helps hotels to increase competitiveness, attract and retain guests, and increase revenue.

The Influence of Demand Fluctuation and Competition Intensity on Advantages of Supply Chain Dominance

We studied a supply chain consisting of multiple suppliers and multiple retailers. We use the Cournot–Stackelberg game, the Market–Stackelberg game, and the Market–Nash game to simulate the situation where the upstream seller’s market dominance power gradually decreases while the downstream buyer’s market power increases. The equilibrium decision and supply chain performance under the three models are compared and analyzed, as well as their responses to external market changes such as demand fluctuation and market competition intensity. The research shows that (1) in a seller-dominated supply chain, the increase in buyer power reduces market equilibrium production and wholesale price; (2) in the face of strong demand fluctuations, equivalent power between upstream and downstream can contribute to the stabilization of production and wholesale prices; (3) when market demand fluctuation is small, market power brings a higher profit level, and supply chain participants would like to actively compete for market power. However, when the demand fluctuates greatly, the profit advantage brought by market dominance is no longer significant, and there is no need to spend much to fight for market dominance; (4) the fierce competition of upstream suppliers will induce upstream to give up the competition for market dominance, and make the market power less attractive to downstream retailers. While the fierce horizontal competition downstream will stimulate both suppliers and retailers to actively compete for market power, (5) sufficient market competition will improve total supply chain profit, so encouraging competition is conducive to the overall economic development of society.

Analysis of Strategic Management for Competitive Advantage at Basmalah Store

This research aims to analyze the competitive advantage strategic management applied by Basmalah store. Competitive advantage is key to maintaining and increasing market share in the competitive retail industry. The research method used is a qualitative approach, conducting in-depth interviews with the owner and manager of Basmalah store, as well as direct observation at the store location. The results of the research indicate that Basmalah store has implemented several competitive advantage strategies, including product differentiation, customer service enhancement, and operational efficiency. By maintaining a stock of unique and high-quality products, Basmalah store successfully attracts customers looking for specific items. Additionally, improving customer service through friendly and informative service is also a crucial factor in maintaining customer loyalty. Operational efficiency is also considered crucial in maintaining competitive advantage. Through effective inventory management strategies and the use of technology to monitor store performance, Basmalah can reduce operational costs and improve efficiency. However, this research also identifies some challenges faced by Basmalah store, including price competition from competitors and market demand fluctuations. Therefore, it is recommended that Basmalah store continues to monitor industry trends, innovate in competitive advantage strategies, and maintain a focus on customer satisfaction.

Enhancing quality requirements management in retailing industry: The role of Quality Function Deployment

PurposeSmall retail stores in the luxury market face significant challenges due to fluctuations in market demand. This task turns challenging as it requires effectively coordinating and translating customer needs into specific requirements that align with retail goals and available resources. However, limited empirical research exists investigating how managers can address service value and quality attributes in small retail stores. This article aims to bridge this gap by investigating the role of quality function deployment (QFD) in improving market and quality requirements management in small retail stores.Design/methodology/approachBased on the case study, a customer survey was initially conducted to gather information on critical characteristics valued in the luxury retail segment. QFD was used to assist the company in identifying and prioritizing key quality attributes to meet customer requirements effectively.Findings The findings demonstrate that implementing QFD in small luxury retail stores empowers managers to identify previously neglected product and service quality aspects. The article shows that QFD informs organizational adaptations that align with the demands of the retail market, leading to an improved ability to meet customer expectations and enhance customer value through the development of enhanced products and services. The study showcases the efficacy of the tested methodology in effectively capturing and prioritizing both tangible and intangible customer needs in retail.Practical implications Findings offer valuable insights to retail managers of small luxury stores, providing actionable market-oriented strategies. By implementing the recommended practices, managers can improve the store’s competitiveness and better cater to the customer base.Originality/value This study contributes to bridging persistent knowledge gaps by addressing the unique context of small luxury retail stores and introducing the application of QFD in this setting. The insights gained from this research are relevant to both retailing and quality management literature. Considering the growing prevalence of transformations in the retail industry, the study provides practical implications for retail managers in effectively navigating these changes.

A remanufacturing supply chain network with differentiated new and remanufactured products considering consumer preference, production capacity constraint and government regulation.

Remanufacturing is a sustainable product reutilization strategy to realize responsible consumption and production. However, remanufacturing practice can be subject to deficient consumer perception, production capacity constraint, uncertain demand and government intervention. This paper considers outsourced remanufacturing mode to establish and investigate a remanufacturing supply chain (RSC) network consisting of multiple manufacturers, retailers and remanufacturers. Optimality conditions with RSC network members are derived utilizing variation inequality. Numerical examples based on data accumulated from a remanufacturing enterprise and questionnaire survey on consumer perception for remanufactured products, are presented to put the proposed model into practice. Influences of product heterogeneity (new and remanufactured products), consumer preference, production capacity constraint, product price competitiveness, market demand fluctuation, and government financial measures on RSC network production and pricing strategies are investigated through numerical analyses. Analytical results indicate that pricing for the remanufactured product would be equivalent to that of the new product when consumers value the remanufactured product at a relatively high level, however an excessive penchant for the remanufactured product is less profitable especially from the perspective of the remanufacturer. In general, an upper-middle level of consumer preference for the remanufactured product is the most favourable scenario. When remanufacturing industry is just emerging, a high tax will be imposed on the manufacturer to accumulate remanufacturing subsidy for the government to achieve its balanced budget. As the remanufacturing industry develops and consumer environmental awareness enhances, it is especially essential for the government to establish a levy-subsidy mechanism to maintain sustainable progress of the industry. Combining main conclusions with the background of Chinese remanufacturing industry, managerial implications are provided from respective perspectives of enterprises' remanufacturing operation, government financial regulation, and consumer awareness enhancement. The analyses and results are especially relevant as a reference for remanufacturing decision-makings as well as government financial regulations, thus enhancing production sustainability as well as environmental benefits.

Impacts of differentiated services and competition on the pricing strategies of ride‐hailing platforms

AbstractDifferentiated services and competition have made the operation of ride‐hailing platforms (i.e., Uber and Didi) more complex. Timely optimizing their pricing strategies will be conducive to the profitability of the platform enterprises. This paper considers the differentiation in service level of two ride‐hailing brands and the Bertrand price competition between platforms, and we propose dynamic, differentiated, and static pricing strategies based on the market demand fluctuation. The optimal prices in each case are derived, and the impacts of the Bertrand competition and differentiated services on the platform's optimal pricing strategies are analyzed. Our results show that competition between platforms will change the impact of the demand fluctuation on the optimal decisions of the platform. Additionally, we find that the optimal prices of two ride‐hailing brands all increase with the coefficient of service differentiation, but the optimal price of the brand with higher service level is increased faster. The numerical studies indicate that if one of the two platforms gives priority to offering differentiated services, the profit loss caused by competition can be attenuated to a great extent.

Reducing biopharmaceutical manufacturing costs through continuous processing in a flexible J.POD® facility

In this work, process models were developed to capture the impact of biomanufacturing costs on a commercial scale and emphasize the way in which facility design and operation must balance meeting product demand while minimizing production costs. Using a scenario-based modeling approach, several facility design strategies were evaluated, including a traditional large stainless-steel facility and a small footprint, portable-on-demand (POD)-based facility. Bioprocessing platforms were compared by estimating their total production costs across different facility types and specifically illustrating how continuous bioprocessing has gained in popularity as a novel and cost-effective approach to manufacture high-quality biopharmaceuticals. The analysis showed how fluctuations in market demand have a dramatic effect on manufacturing costs and plant utilization, with far-reaching implications on the total cost to patients.

A ranking methodology for the coupling of pressurized water nuclear reactors and molten salt thermal energy storage

Thermal energy storage (TES) systems are a proposed solution to electricity market demand fluctuations and can be coupled to nuclear power plants to enable load following. This work focuses on developing a methodology for evaluating potential designs for integrating a TES system into an existing pressurized water nuclear power plant. The proposed ranking methodology allows a group of experts to postulate and weigh designs based on ranking criteria derived from literature. The methodology developed in this study can aid in the final selection of a TES design for an existing nuclear power plant. The same process could be used to analyze other TES and nuclear reactor designs. The determined optimum design from this methodology was to place the TES system after the steam generator and to utilize the steam generated from the nuclear power plant to heat a molten salt TES unit. Another conclusion of this research was that human bias is prevalent during design selection, and actions such as standardized ranking criteria and large groups of experts should be used to minimize this error.

Minimizing production cost for kendang djembe production through goal programming model

Kendang djembe is a percussion instrument played by striking with the fingers and palms. The body of the kendang djembe is generally made of wood and shaped like a cup or mug, carved either by machine or traditionally only by hand. This problem affects the production costs, the employee working house, and the profit of kendang djembe. Customer orders and requirements determine the production process for kendang djembe. It leads to fluctuations in market demand, affecting production costs and the working hours of kendang djembe employees. As a result, employees work overtime when orders rush in, resulting in poor product finishes such as crude engraving and painting. This research aims to minimize the production cost of kendang djembe, maximize the employee working hours, and maximize the profit by using the goal programming method. Goal programming is applied to decide the number of kendang djembe, the minimum production cost, and the time for each kendang djembe. The result of this research is that CV. Maharani Abadi has to make 237 units of kendang djembe paintings, 1266 kendang djembe carvings, 870 kendang djembe painting carvings, and 91 kendang djembe deep carvings. CV. Maharani spent a production cost of Rp 399,413,400, with the employee working 1846.36 hours, and obtained a maximum profit of Rp 126,526,600. This research helps the company to avoid unprofitable options in the production process of kendang djembe.

Examining the Relationship Among Socio-Demographic, Institutional Factors and Adoption of Best Tomato Production Practices in Southern Ghana

Tomato, an important staple in many Ghanaian homes, provides livelihood for many farming households. Despite its importance, farmers within major growing tomato districts are either unaware or have not adopted productivity enhancing tomato production practices. This paper examined the relationship between socioeconomic and institutional factors and the adoption of pre-emergence, post-emergence and filed management practices in the Ada West and Central Tongu districts. The study employed descriptive and inferential statistics such as frequencies, percentages, means, and chi-square test to describe the respondents and test of independence between farmer characteristics and adoption. The results revealed that the adoption rates of preemergence, post-emergence and field management practices were 48%, 50% and 64%, respectively. Factors such as farm size, education, farming experience, land tenure arrangements, access to extension services, access to credit and point of sale were found to be significantly associated with adoption of these practices. The main constraints to double season production were reported as unavailability of water and fluctuations in market demand. It is recommended that extension officers and researchers focus their dissemination messages on improved tomato production practices through appropriate channels and build farmers' capacity on the improved practices for enhanced food security and incomes of smallholder tomato farmers in Ghana.

Implementation of mass customization for competitive advantage in Indian industries: an empirical investigation.

The enduring fluctuations in market demand, exemplified by exceedingly unpredictable customer requirements, have given rise to mass customization (MC), which is acquiring increasing prominence in production and operations management. Fostering on the foundation laid by erstwhile researcher Hart in Int J Serv Ind Manag 6:36–45 [1], who developed an analytical framework of four pillars of mass customization for organizations, the objective of this research is to obtain additional discernments on the nature of the linkage between the four pillars and MC. The current work is to explain ability of manufacturing organization for MC. Further, the paper proposes the impact of MC on organization performance with a view to develop an assessment and decision-making model to achieve competitiveness. The analysis of 276 valid responses from Indian professional experts was done using structural equation modeling (Amos Graphics). The results showed that process amenability, competitive environment, and organizational readiness all have a major impact on mass customization. The study, on the other hand, did not support customer sensitivity, which could be because mass customization is a new manufacturing paradigm in India.

The information leakage strategies of the supply chain under the block chain technology introduction

Under the block chain technology introduction, a supply chain consisting of a retailer and two competing manufacturers is studied, in which the retailer realizes the vertical information sharing with one manufacturer (the large manufacturer) and always leaks the production information to another manufacturer (the small manufacturer). The small manufacturer has two strategies: passive acceptance strategy and active acceptance strategy. This paper establishes the decision models of supply chain members based on signal transmission theory, and discusses the influence of information leakage and information distortion on the decisions of supply chain members. The analysis shows that there are two equilibrium strategies for the large manufacturer: separation strategy and pooling strategy, and the strategy choice is related to the fluctuation of market demand and the small manufacturer's strategy choice. The retailer chooses information distortion strategy under high market demand, which reduces the profit of the small manufacturer and maximizes the profits of the retailer and the large manufacturer. In terms of the small manufacturer, an active acceptance strategy is more advantageous. In the end, the research conclusion is verified by numerical simulation, and it is found that the introduction of block chain technology has little influence on the manufacturers’ production decisions, and the large manufacturer' production increases in response to the increasing dependence of the small manufacturer's production decision on the large manufacturer's decision.

Analysis on Optimization of Agricultural Products Supply Chain Based on Dynamic System

To thoroughly implement the spirit of the Fifth Plenary Session of the 19th CPC Central Committee, this paper optimizes the supply chain of agricultural products based on dynamic system. In the complex supply chain of agricultural products, they are scattered upstream and downstream. It is difficult to form agglomeration scale effect, information asymmetry between supply chain nodes, and poor hardware environment of supply chain. Logistics operation is difficult. By analyzing the supply chain of agricultural products, optimize the supply chain by using the push‐pull supply chain. According to the change of market demand, the push mode and the pull mode are properly allocated and the government’s attention to the supply chain is increased, intentionally the Internet is combined with the supply chain, the stability of the supply chain is increased, and there is a certain adaptability to market demand fluctuations. Problems can be fed back to the suppliers and final buyers of agricultural products in time, and the delivery rate of the whole supply chain should be improved.

Analysis and forecast for gas demand using the VARMA model

Subject. The article assesses the fluctuations in market demand for gas to ensure market flexibility. Objectives. The aim is to develop a methodology for forming an optimal capacity portfolio of oil and gas industry enterprises, taking into account the specifics of the industry to ensure market flexibility, and its testing, on the case of forming a capacity portfolio for three market zones (NCG – Germany, GASPOOL and AVTP – Austria), using the VARMA model. Methods. We employ methods of financial econometrics and statistics. Results. The study reveals the specifics of the state of the European gas market, considers the prerequisites for ensuring flexibility, and unveils the main tools to ensure the required level of flexibility. It also offers and tests an algorithm, based on the VARMA model, for assessing and forecasting gas demand in three market zones. We substantiate the need for determining the degree of interrelation between the indices of complementary trade zones, and consider models enabling to assess interrelationships and modeling of projected prices and demand in the future. Conclusions. The findings may be used for integration of capacities into the capacity generation model, in order to calculate a portfolio of gas transportation and storage capacities, which will allow providing predicted fluctuations in gas demand without risk.