The Characteristics of Demand Rates in Inventory Routing Problem

In today's business landscape, demand variability plays a crucial role in determining the success of companies across various industries. This article explores the concept of demand variability, encompassing both deterministic and stochastic demand patterns. We delve into the differences between these demand types and their implications for businesses. The article emphasizes the significance of accurate demand forecasting and its role in strategic decision-making. Deterministic demand, characterized by predictable patterns, allows businesses to forecast with certainty. On the other hand, stochastic demand introduces uncertainty, requiring statistical methods and probability theory for estimation and management. Furthermore, we explore the distinction between stochastic stationary demand and stochastic nonstationary demand. While the former maintains consistent statistical properties over time, the latter experiences fluctuations in its characteristics due to external factors. We highlight the challenges faced by businesses in forecasting and managing nonstationary demand and the need for adaptive forecasting methods. To successfully navigate today's dynamic market, companies must embrace advanced analytics and data-driven approaches. By leveraging historical data, statistical models, and forecasting techniques, businesses can gain valuable insights into demand patterns, optimize inventory management, and make informed strategic decisions. Ultimately, understanding and managing demand variability is paramount for businesses seeking to improve customer satisfaction, optimize operations, and enhance their competitive advantage. This article aims to provide a comprehensive understanding of demand variability and equip readers with insights and strategies to tackle the challenges posed by an ever-changing market landscape

Entrepreneurial Intention Challenge in TVET Education

Effective entrepreneurship course among TVET students are critical. The economic situation can be revived by new business venture. Knowledge learnt promotes self-reliance while real practices made meaningful contributions to the nation. 108 respondents were selected through convenience sampling from 2 engineering programs at a public TVET university in Melaka. Descriptive analysis yields high mean values between 81.5%-91.7% on perceive importance, business interest, sales/marketing skills, enjoy practical activities, and understand syllabus where 19.4% of the students managed to own legitimate business. The study used hybrid analysis between SPSS on the moderating effect and SEM-AMOS on the mediating effect. In the first analysis, the study examined whether “course delivery” could induce a moderating effect on the model understudy. The 3 variables correlated well with one another. Multiple regression showed significant “entrepreneurial intention” among students. Although “course delivery” explains further 2.5% variance in the “appropriate behaviors”, the model interaction has a negative effect toward students’ “entrepreneurial intention”. In second analysis, AMOS was used as CFA to test and validate the mediating effect on the variables direct, indirect and total effects dimensions. The outputs demonstrate acceptable goodness of fit indices from the measurement model where Chi-square and comparative fit (CMin/df, CFI, SRMR, and RMSEA) values were statistically significant at 0.5 level. However, the value of 0.072 at the variables intersection concludes that “course delivery” did not mediate the relationship between “appropriate behaviors” and “entrepreneurial intention”. Hence, both analysis results were consistent in which “course delivery” was not the main factor in determining an effective “entrepreneurial intention” among the TVET engineering students. It suggested the improve of “appropriate behaviors” factors assimilation to become global entrepreneurs and self-sustained TVET graduates

Market coopetition: implications of religious identity in creating value added partnership within halal mart retailers

Purpose: The purpose of this paper is to explore coopetition, a strategy that combines cooperation and competition, in addressing relationships between small grocery retailers. Using coopetition as an underlying concept, this study examines how religious influences play a role in determining business strategies for grocery retailers. Design/methodology/approach: This conceptual paper integrates the concept of coopetition into a definition that holds for coopetitive interactions across small-scale retailers. The study uses a qualitative multi-case methodology to gather data regarding horizontal channel relationships in retailing. A preliminary pilot study was conducted to gain a clearer understanding and develop a basic information pattern for the relationship between Halal Mart retailers and coopetition. Findings: Preliminary findings have shown that halal mart retailers at Muslim marts may have involvement with four categories of business relationships (cooperation, competition, coexistence and coopetition). Originality/value: This paper provides a conceptual understanding of coopetition among small firms, which have not received much focus in the literature. The addition of religiosity extends the theory of coopetition beyond activity, actors and resources