Supplier Portfolio Selection and Optimum Volume Allocation: A Knowledge Based Method

Selection of suppliers and allocation of optimum volumes to suppliers is a strategic business decision. This paper presents a decision support method for supplier selection and the optimal allocation of volumes in a supplier portfolio. The requirements for the method were gathered during a case study that was conducted within the logistics unit of Shell Chemicals Europe. The proposed method is based on the classical view by Sprague and Carlson of sequence and interaction of the different phases of decision making in a decision support system and supports Kraljic’s portfolio approach for supplier management. This method aims to help the managers in making decisions on the allocation of volumes to suppliers while simultaneously trying to satisfy conflicting objectives of improvement in benefit and reduction in risk. A mathematical model to struc-ture the problem is presented, knowledge elicited from the managers is used to parameterize the mathemati-cal model and a multi-objective, hierarchical optimization procedure produces ‘trade-off’ outputs. The man-agers can also conduct interactive post optimization ‘what-if’ analysi

International Taxation in an Era of Digital Disruption: Analyzing the Current Debate

The “taxation of the digital economy” is currently at the top of the global international tax policymaking agenda. A core claim some European governments are advancing is that user data or user participation in the digital economy justifies a gross tax on digital receipts, new profit attribution criteria, or a special formulary apportionment factor in a future formulary regime targeted specifically at the “digital economy.” Just a couple years ago the OECD undertook an evaluation of whether the digital economy can (or should) be “ring-fenced” as part of the BEPS project, and concluded that it neither can be nor should be. Importantly, concluding that there should be no special rules for the digital economy does not resolve the broader question of whether the international tax system requires reform. The practical reality appears to be that all the largest economies have come to agree either that a) there is something wrong with the taxation of the “digital economy,” or b) there is something more fundamentally wrong with the structure of the current international tax system given globalization and technological trends. This paper is intended as a limited exploration of the second (or third, or fourth) best. It analyzes three policy options that have been discussed in general terms in the current global debate. First, I consider whether “user participation” justifies changing profit allocation results in the digital economy alone. I conclude that applying the user participation concept in a manner that is limited to the digital economy is intellectually indefensible; at most it amounts to mercantilist ring-fencing. Moreover, at the technical level user participation faces all the same challenges as more comprehensive and principled proposals for reallocating excess returns among jurisdictions. Second, I consider one such comprehensive international tax reform idea, loosely referred to by the moniker “marketing intangibles.” This idea represents a compromise between the present transfer pricing system and sales or destination-based reforms to the transfer pricing regime. I conclude that splitting taxing rights over “excess” returns between the present transfer pricing system and a destination-based approach is complex, creates new sources of potential conflict, and requires relatively extensive tax harmonization. This conclusion applies equally to user participation and marketing intangibles. If such a mechanism were nevertheless pursued, I suggest that a formulary system for splitting the excess return is the most manageable approach. Third, I consider “minimum effective taxation” ideas. I conclude that, as compared to the other two policy options discussed herein, minimum effective taxation provides a preferable path for multilateral cooperation

Supporting Decisions: Understanding natural resource management assessment techniques

Report to the Land and Water Resources Research and Development Corporation. This document presents a review of NRM decision support techniques. It draws upon previous studies in the fields of management science, operations research, environmental economics and natural resource management. The objectives of the document are to: Explain the workings of the more significant (representative) methods of NRM decision support (including the latest developments); Discuss how these decision support methods may influence the outcome of NRM decisions; and Provide practicing NRM decision makers with guidance for choosing which methods to apply.Australia;natural resource management;assessment;decision support;

An Ontology for Product-Service Systems

Industries are transforming their business strategy from a product-centric to a more service-centric nature by bundling products and services into integrated solutions to enhance the relationship between their customers. Since Product- Service Systems design research is currently at a rudimentary stage, the development of a robust ontology for this area would be helpful. The advantages of a standardized ontology are that it could help researchers and practitioners to communicate their views without ambiguity and thus encourage the conception and implementation of useful methods and tools. In this paper, an initial structure of a PSS ontology from the design perspective is proposed and evaluated

Serbia - public sector accounting review : report on the enhancement of public sector financial reporting

The government’s public financial management (PFM) Reform Program 2016-2020 foresees the gradual transition of public sector financial reporting from a cash basis to an accrual basis of accounting and the application of International Public Sector Accounting Standards (IPSAS). This will significantly improve the quality of financial information and should enable better informed decision-making, more efficient use of public funds and resources and improved fiscal performance. This Report on the Enhancement of Public Sector Financial Reporting is one output of the Serbia Public Sector Accounting Reform Technical Assistance project funded by the Swiss State Secretariat for Economic Affairs (SECO) through the Strengthening Accountability and Fiduciary Environment (SAFE) Trust Fund under the Public Sector Accounting and Reporting Program (PULSAR) which provides support for the development and implementation of public sector accounting standards. This report supports the development of a plan towards that goal by assessing the institutional framework for public sector accounting as well as the gap between Serbian public sector generally accepted accounting principles (PS GAAP) and IPSAS

INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA

The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to$7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India provide an opportunity for an examination of venture capital industry in India. This paper analyses the validity of venture evaluation model in India by directly comparing the relative importance of evaluation criteria on the funding decision with the relative importance to factors influencing venture's empirical performance. In the light of the differences in investment opportunities around India, and the nature of industrial development in South East Asia in general, the author anticipated that the investment criteria employed by Venture Capital Firms (VCs) in India would differ. A questionnaire was administered to venture capitalists (regular members of Indian Venture Capital Association) to determine the criteria they use to decide on funding new ventures. The response rate was 100%. A list of forty two criteria was developed on previously developed lists. The criteria fell into six groups: the entrepreneur’s personality, the entrepreneur’s experience, characteristics of the product or service, characteristics of the market, financial consideration and characteristics of venture management team. Answers were given on a four point rating scales. The results reveal that criteria adopted by Indian VCs are different from those adopted by VCs in other countries including US. The results also confirm that the entrepreneur’s personality and experience are seen as being primary indicators of the venture’s potential.India, Venture, Capital, Vanture Capital, Criteria, VCs, VCCs, VCFs, Venture Capitalists

Investment performance analysis of industrial products: case of an effluent processing facility at a chemical company

This paper proposes an approach to a multi-criteria investment performance analysis of industrial products. Manufacturers must determine the necessary and sufficient specification of products they use. Such an analysis, however, involves a broad range of factors, including some that are subjective. The performance analysis and decision making for investment thus must often rely heavily on past experience, generalities, and intuition. This paper addresses these issues from a benefit, opportunity, cost and risk (BOCR) perspective, in which the criteria are prioritized and the products are evaluated objectively. Pairwise comparisons among the criteria and quantitative assessments of the performance of products comprise a prioritized BOCR analysis. A case study demonstrating the applicability of the proposed approach is conducted at a chemical company. Results show that the proposed approach succeeds in the multi-criteria performance analysis of industrial products, resulting in a practical proposal of a product specification best suited to this company’s case