The impact of lean practices on inventory turnover

Lean manufacturing (LM) is currently enjoying its second heyday. Companies in several industries are implementing leanpractices to keep pace with the competition and achieve better results. In this article, we will concentrate on how companies can improve their inventoryturnover performance through the use ofleanpractices. According to our main proposition, firms that widely apply leanpractices have higher inventoryturnover than those that do not rely on LM. However, there may be significant differences in inventoryturnover even among lean manufacturers depending on their contingencies. Therefore, we also investigate how various contingency factors (production systems, order types, product types) influence theinventoryturnoveroflean manufacturers. We use cluster and correlation analysis to separate manufacturers based onthe extent of their leanness and to examine the effect of contingencies. We acquired the data from the International Manufacturing Strategy Survey (IMSS) in ISIC sectors 28–35

Sustainable Value Proposition Design in a Product-Service System

Many companies have started to add services to their tangible products in order to defend themselves from increased competition from low-cost economies. Research regarding the transition towards product-service systems (PSS) and how the PSS providers' business models are affected exists, but there is a lack of research regarding how the suppliers to the PSS providers are affected by the transition towards PSS. Therefore, this thesis studies the situation for a supplier/partner to an OEM that has changed their business model to a PSS providing one. As the first step in a development of a new business model aims this thesis to provide guidelines for how to set up value propositions suitable for a supplier/partner in this new environment. When technologically complex products, such as aircraft engines, are provided through PSS offerings it is hard to translate customer needs into quality parameters, which makes it hard to sustain the value to customer over time. Therefore, how to keep the value offering sustainable over time is also investigated in this thesis. The aim of this study was to investigate how a sustainable value proposition can be designed for a product and technology supplier/partner to an OEM that offers PSS solutions. The research has been performed through studying relevant literature and collecting empirical data from a case company through semi-structured interviews and a workshop. The case company in this research is Volvo Aero Corporation (VAC). The empirical findings show that VAC wants to offer product-service bundled solution, which fit the whole spectra of PSS value propositions, to their partners/customers. To be able to deliver these different types of product-service bundled solutions different value propositions that suit the different kinds of PSS offerings are needed. Requirements that must be fulfilled to be able to offer and deliver the different types of value propositions exist in terms of securing sufficient information access, aligning the incentives of all actors involved and achieving an internal consensus of what is delivered

Innovation for a circular economy : exploring the adoption of PSS by UK companies in the baby products sector

Several authors have commented on the relatively slow rate at which Product Service Systems (PSS) have been adopted in B2B networks. Despite some prominent examples, such as the provision of integrated lighting systems to Sainsbury’s (supermarket chain) by Parkersell in the UK, and the ‘pay per copy’ (lease and take back) systems provided by copier companies such as Xerox and Canon, PSS has not been widely adopted even though the business case seems sound. Consequently, the question of identifying and overcoming barriers to PSS adoption has become an important research topic. In this study we explore barriers to the adoption of PSS in the UK baby products industry using a qualitative research design employing in-depth interviews with baby products suppliers (manufacturers) and buyers (retailers). The novelty of the approach adopted in this study is that key concepts from the Industrial Networks Approach are used to frame the analysis. Buyers and suppliers of baby products acknowledge the value of the PSS approach, but PSS adoption is found to require considerable adaptation to conventional patterns of inter-organizational interaction

Identify successful marketing communication strategies that apply to a small hair salon

A selected organisation provides hair dressing services and hair products to customers. The aim of this report is to analyse how the small hair salon could improve their marketing communication strategies in order to attract more customers and enhance the relationship between customers and the organisation. The approach to collecting information was to use a questionnaire with 50 participants, to gather primary information and to conduct a secondary research study. The result of this research was to decide that the role of a successful marketing communication strategy is to attract the customer to consume. In order to make the marketing communication strategy successful, it needs to choose a suitable channel that enables it to connect with the customer. New media is an effective channel that can promote the business to the customer and interact with them. New media is also suitable for a small business to use. A recommendation for the organisation is they create their own website page, Facebook page, YouTube video and WeChat group to promote themselves and interact with customers. Those channels are popular in New Zealand, with a high number of active users. Most the organisation customers like to use those channels too, so if the organisation applies those channels to their marketing communication strategy they will be able to attract customers and persuade them to consume more products

Small business preference for software package

Until late 2016, the majority of small business uses QuickBooks and Excel to do their accounting work. However, the functions of these accounting tools are insufficient, and also the demands of companies are increasing. It has become inefficient and antiquated to use the software. A small business looked for new accounting software, but found that choosing an accounting software system is not straightforward, as every software package consists of different functions for users. The aim of this research was to analyse small business’ perceptions and preferences for accounting software systems in New Zealand. This is followed by an analysis of why users might want to replace their previous accounting software systems. In addition, the requirements for selecting accounting software were analysed. The main method used was qualitative research. Three people were interviewed regarding the reason for replacing their previous accounting software system. The first interviewee had not changed their accounting software system previously, but their reason for replacing their current accounting software system was that their previous accounting software system lacked the functionality he wanted. The second interviewee said e she disliked that the system frequently crashed and that it lacked the features she wanted. The reason why the last interviewee changed her previous accounting software system was that MYOB system could not improve her work efficiency

Trust between service provider and customer in online environments

Nowadays online shopping is getting more and more popular in China. However, opportunities and challenges are coexisting, and the growth of e-commerce is also inevitable. In e-commerce online, trust has become a significant factor hindering development. A New Zealand organisation faces a lot of competitors. In order to increase its market share and remain competitive in the market, the organisation needs to have more loyal customers who repeatedly purchase their products. Therefore, the organisation should find an appropriate way to form or create trust with customers, to retain them. This research investigates how trust has been created in an online environment between an organisation and its customers. A qualitative method was adopted in this research and data collected using semi-structured interviews. The collected data was analysed adopting a thematic analysis method. The research findings show that a two-way communication system is the core factor in forming trust in the online environment. This research suggests that the organisation should consider two-way communication seriously, and develop that as a useful tool to build trust between them and customers; not just as a communication tool but as a tool for trust formation

Investigating different strategies for increasing sales and customer base

The study primarily discusses about the different strategies that the management of the company can implement in order to boost their customer base and net sales. The main aim of the research is to evaluate different strategies for increasing sales and customer base. A qualitative method was taken for this research, and data was collected with the help of primary and secondary methods. In the primary method, a semi-structured interview was conducted on the organisation’s premises with the store manager and other staff members. The secondary data was collected from books and the internet. The study has an emphasised focus on laying down several goals and objectives that the study plans to achieve. In this study, the researcher has tried to formulate the latest data and information about the company in order to provide the management with the latest insights about customer preferences and techniques that can be used for improving their decision-making process. The study has laid down processes and procedures that were followed in order to prepare the entire study. The key findings of the research are to introduce the new product, give some rewards points and add some more options for customers. The foremost recommendations for the organisation will be to improve communication with their customers, and to use PayWave service and wi-fi facility. Moreover, they should use social media and other platforms to advertise their products and add more features and varieties to the existing product to attract the attention of customers

Examining the implications of the anti-money laundering and countering financing of Terrorism Act 2009 on New Zealand accounting firms

Money laundering is the act of introducing illicitly gained funds into the economy to assist in concealing their origin. On October 1 2018, it became mandatory for most New Zealand accounting firms to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The purpose of this act is to help detect and deter money laundering within New Zealand. The AML/CFT Act creates additional requirements for accounting firms and has severe penalties for non-compliance. This led to the research question of ‘What are the implications of the AML/CFT Act 2009 on New Zealand Accounting firms?’ For this research, interviews were conducted with accounting firms to help identify the costs and implications associated with the AML/CFT requirements. The results revealed that despite the October 1 deadline, accounting firms are still implementing programs. The new requirements were unclear and underestimated by firms. Large money and time costs were reported by all the interview participants and they all feel that the new requirements are excessive. As the AML/CFT Act is still new, it would be beneficial to explore further research in the future that examines the actual impact of maintaining the AML/CFT programs

Strategic planning for a SME

The purpose of this research is to find competitive advantages for an organisation and prepare a long-term strategic planning for the SME. In a New Zealand context, small business enterprises play vital roles in business and the economic sector. However, most small business do not have specific competitive advantage and long-term strategies to compete in the market. Both qualitative and quantitative approaches have been used as mixed method research. Interviews and surveys have been done. Using those methods, researchers are intended to use the most effective implementation methodology to find out the best solution to the problem and cause of a SME. Location and customer satisfaction have been identified as the prime factors for the firm to run the business successfully. The business has been operating smoothly without using any further strategies to compete in the market. Recommendations involve pricing, advertising and stock management