Effective forecasting for supply-chain planning: an empirical evaluation and strategies for improvement

Demand forecasting is a crucial aspect of the planning process in supply-chain companies. The most common approach to forecasting demand in these companies involves the use of a simple univariate statistical method to produce a forecast and the subsequent judgmental adjustment of this by the company's demand planners to take into account market intelligence relating to any exceptional circumstances expected over the planning horizon. Based on four company case studies, which included collecting more than 12,000 forecasts and outcomes, this paper examines: i) the extent to which the judgmental adjustments led to improvements in accuracy, ii) the extent to which the adjustments were biased and inefficient, iii) the circumstances where adjustments were detrimental or beneficial, and iv) methods that could lead to greater levels of accuracy. It was found that the judgmentally adjusted forecasts were both biased and inefficient. In particular, market intelligence that was expected to have a positive impact on demand was used far less effectively than intelligence suggesting a negative impact. The paper goes on to propose a set of improvements that could be applied to the forecasting processes in the companies and to the forecasting software that is used in these processes

Māori farming trusts - A preliminary scoping investigation into the governance and management of large dairy farm businesses.

This preliminary scoping study investigates areas for possible improvement in the governance and management of large Māori dairy farm businesses. Building on the innovative practices of their tūpuna – including Rawiri Taiwhanga, the country’s first commercial dairy farmer – Māori are defining their own aspirations, realities and goals in the dairy farming world (Durie 1998, 2000). This report outlines these, and their accompanying challenges, as expressed by individuals and collectives currently engaged in Māori Dairy farm businesses. The Māori way of doing business is described in this study as having a ‘Quadruple Bottom Line of Profit, People, Environment and Community’ business objectives. More specifically, ‘Māori farms often have an inverted Quadruple Bottom Line. People, Environment and their Community often come before Profit….but without Profit none of it happens.’ Māori strategic plans and business values place emphasis on relationships, responsibilities, reciprocity and respect. These are exemplars of a Māori world-view, which explicitly acknowledges particular historic and cultural contexts (Tapsell and Woods 2010). The strategic management plans of the Māori Farming Trusts illustrate the spiral or matrix of values ‘He korunga o nga tikanga’ envisaged by Nicholson, Hēnare and Woods (2012). They prioritise the development of social capital to create competitive advantage. Such strategic plans reflect Māori vision and aspirations. These are to sustain and grow the land base; to provide leadership and guidance for the whānau; to develop capacity and resources within the Trusts and to perform better as businesses.DairyNZ Ltd, Ministry for Primary Industries (NZ

Shares in the EMCA : the time is ripe for true no par value shares in the EU, and the 2nd directive is not an obstacle

The most interesting proposal in the draft European Model Companies Act ( EMCA) concerning shares and the focus of this Article is the recommendation to introduce true no par value shares, as they have been in use in the US for many years and were introduced in Australia, New Zealand but also Finland more recently. Contrary to what has often been assumed, the 2nd EU Company Law Directive does not preclude no par value shares. There is nothing in the wording of the Directive to suggest otherwise, and the reference in the Directive to shares without a nominal value is a reference to Belgian law, which has allowed true no par value shares in all but name since at least 1913. EU member states could therefore introduce such shares even for public companies. True no par value shares offer a far more flexible framework in case of capital increases or mergers, but since under a no par value system there is no link between par value and shareholder rights, additional disclosure about these rights might be warranted under a no par value system. Traditional par value shares offer no protection to creditors, shareholders or other stakeholders, so that their abolition should not be mourned. The threat of new share issues at an unacceptably high discount is more efficiently countered by disclosure and shareholder decision rights

Shares in the EMCA : the time is ripe for true no par value shares in the EU, and the 2nd directive is not an obstacle

The most interesting proposal in the draft European Model Companies Act ( EMCA) concerning shares and the focus of this Article is the recommendation to introduce true no par value shares, as they have been in use in the US for many years and were introduced in Australia, New Zealand but also Finland more recently. Contrary to what has often been assumed, the 2nd EU Company Law Directive does not preclude no par value shares. There is nothing in the wording of the Directive to suggest otherwise, and the reference in the Directive to shares without a nominal value is a reference to Belgian law, which has allowed true no par value shares in all but name since at least 1913. EU member states could therefore introduce such shares even for public companies. True no par value shares offer a far more flexible framework in case of capital increases or mergers, but since under a no par value system there is no link between par value and shareholder rights, additional disclosure about these rights might be warranted under a no par value system. Traditional par value shares offer no protection to creditors, shareholders or other stakeholders, so that their abolition should not be mourned. The threat of new share issues at an unacceptably high discount is more efficiently countered by disclosure and shareholder decision rights

Have Spanish companies built greater entrepreneurship after privatization?

This study analyses some of the strategic and organizational changes experienced in public firms following privatization in its double facet: sale of companies and deregulation. Specifically, we analyse the process of innovation in terms of products, processes and organization. We also look into the development of new businesses and strategic renewal, which in the end shape the entrepreneurial capacity of a company. A sample of Spanish firms which were privatized between 1985 and 2000 shows that after privatization, these companies have experienced a significant increase in entrepreneurship. These changes are even more appreciable when a high sector competition is added to the ownership shift. Once they join the private sector, their level of product, process and organizational innovation is higher. They also develop new businesses at national level, reinforce their international activity and embark on strategic renewal processes by shedding the lesser profitable businesses and modifying their competitive strategy so as to gain efficiency

Foreign investment liberalization and incentives in selected Asia-Pacific Developing Countries:Implications for the health service sector in Nepal

The prime objective and main research questions of the study are: 1) What are the practices of service sector investment liberalization and incentives from selected developing countries, and 2) How those experiences can be applied to the investment liberalization and provision of incentives in the Nepalese services sector, with focus on the health service sector? It should be pointed out that a country’s liberalizing strategy refers to a dynamic policy process through a flow in time; however since this study is presently limited to focus on a point in time (e.g. 2003), attention is given to FDI incentives in selected developing countries to tease out lessons of a broad service related investment (health) liberalization strategy.AFTA,RTA,CEPT