This paper adopts a multiunit bilateral bargaining framework on financial decision. In a two-echelon supply chain, the supplier sells products through a financial constraint retailer. If needed, the retailer gets a short-term financing from a bank by supplier credit guarantee loan (CGL). Through applying the Nash bargaining framework, we formulate two-level game models, i.e. Retailer-Supply System negotiation and Supplier-Bank negotiation. In this paper, we study and discuss the equilibrium order quantity which is affected by initial working capital and interest rate, the retailer-supply system negotiation and upstream wholesale price effects for supply chain performance, the supplier-bank negotiation and interest rate decisions with different capital markets. The results show: (i) there exists loan size limit for financial constraint retailer under CGL. (ii) The upstream wholesale price increase will weaken retailer’s bargaining position, and the supply system may gain or lose depending on the bargaining power. (iii) There exists unique equilibrium sharing ratio in supply system, which means CGL can achieve risk sharing. (iv) Within a supply system, the upstream wholesale price advantage will weaken bank’s profit, whereas supplier may gain or lose depending on his bargaining power.
14 November 2016 in International Journal of Contemporary Hospitality Management
Purpose: This paper aims to focus on supply chain quality (SCQ) in the hospitality industry in China, and to stress the importance of the synergy of quality management (QM) and supply chain management (SCM). The authors have investigated the relationship among QM practices, SCM practices, SCQ and hotel performance, and examined the effect of contextual variables.Design/methodology/approach: This study mainly uses a questionnaire survey to collect data relating to the research hypotheses. Structural equation model technique is suited for our research purposes, and the LISREL software is implemented to test the conceptual model.Findings: The results show that QM practices and SCM practices are significantly correlated. QM practices/SCM practices are positively related to SCQ, and consequently influence hotel performance. SCQ has the mediating effect between QM/SCM practices and hotel performance. Contextual variables truly play a moderator between QM/SCM practices and SCQ.Research limitations/implications: Hotel managers should look beyond their own hotels into supply chain to manage quality, highlight the importance of interdepartmental or external (i.e. customers or suppliers) connectedness, such as building close and long-term relationships with well-chosen suppliers, encouraging customer involvement and establishing an effective interface for accumulating information regarding customers’ needs and feedback. Hotel managers are also able to realize the influence of contextual variables (e.g. the new normal state of the Chinese economy), and further to gain chance of hotel’s survival.Originality/value: This study focuses on SCQ and tries to fill a gap in the exiting literature on SCQ management in hospitality industry.
1 February 2020 in European Journal of Operational Research
The basic requirement in this type of micro-drilling process is to achieve high product quality with the minimum machining cost, which can be realised through parameter design. In this paper, we propose a new economic parameter design under the framework of Bayesian modelling and optimisation. First of all, the Bayesian seemingly unrelated regression (SUR) models are utilised to develop the relationship models between input factors and output responses in the laser micro-drilling process. After that, simulated response values which reflect the real laser micro-drilling process are obtained by using the Gibbs sampling procedure. Moreover, a novel rejection cost function and a quality loss function are constructed based on the simulated responses. Finally, an optimisation scheme integrating the rejection cost (i.e. rework cost and scrap cost) function and the quality loss function is implemented by using multi-objective genetic algorithm to find feasible economic parameter settings for laser micro-drilling process.
17 May 2013 in International Journal of Production Research
Selective assembly is an important step during the manufacturing process for a complex product to meet precision requirements. The high precision requirement of complex product often results in producing a large number of surplus components in selective assembly process current practices. In this paper, we develop a comprehensive model which permits the integration of machining process parameters design, variation analysis and fault diagnosis, process adjustment and control strategy, process capability index calculation and matchable degree calculation. The model can be applied to evaluate and improve product, process and system design at early development stages, or support the improvement of matchable degree for a complex production selective assembly process. In this model, we have introduced a navel concept of general matchable degree for a multiple components selective assembly process. The implementation procedure and functional modules of the proposed model are given in details with an industrial case presented to illustrate the implementation of the proposed method.