Chain-store pricing for strategic accommodation

Chain-stores now dominate most areas of retailing. While retailers may operate nationally or even internationally, the markets they compete in are largely local. How should they best operate pricing policy in respect of the different markets served - price uniformly across the local markets or on a local basis according to market conditions? We model this by allowing local market differences, with entry being inevitable in certain markets while being naturally or institutionally blockaded in others. We show that practising price discrimination is not always best for the chain-store. Competitive conditions exist under which uniform pricing can raise profits

CHAIN-STORE PRICING FOR STRATEGIC ACCOMMODATION

Chain-stores now dominate most areas of retailing. While retailers may operate nationally or even internationally, the markets they compete in are largely local. How should they best operate pricing policy in respect of the different markets served - price uniformly across the local markets or on a local basis according to market conditions? We model this by allowing local market differences, with entry being inevitable in certain markets while being naturally or institutionally blockaded in others. We show that practising price discrimination is not always best for the chain-store. Competitive conditions exist under which uniform pricing can raise profits.Chain-store ; Pricing Policy ; Price Discrimination ; Local Markets

Market Consolidation and Pricing Developments in Grocery Retailing: A Case Study

When large retailers merge, there is a concern that a sudden and marked increase in concentration will alter the intensity and nature of price competition to the detriment of consumers. This chapter considers just such a situation in regard to UK grocery retailing, which has witnessed steadily increasing concentration over recent years, advanced by a series of mergers. Specifically, we examine the nature of price competition amongst the major “one-stop-shop” retail chains before, during, and after the Safeway/Morrison merger in March 2004.We find the merger offered consumers an immediate windfall benefit — with average prices falling straight after the merger—and more intriguingly appears to have led to (or at least is associated with) a marked change in the character of price competition in the market

Pricing in inflationary times- the penny drops

We investigate micro pricing behaviour in groceries (the UK’s most important consumer market) over eight years including the inflationary period of early 2008. We find behaviour sharply distinguished from most previous work, namely that overall basket prices rise but more individual prices fall than rise! This is consistent with retailers obscuring the fact of rising basket prices. We employ a significant new source of data that captures cross-competitor interplay in prices at a very detailed level. Unusually but importantly, our work takes into account that consumers buy baskets of goods, rather than individual products, when shopping at supermarkets.

Chain-Store Competition: Customized vs. Uniform Pricing

Retail chains essentially practice one of two broad strategies in setting prices across their stores. The more straightforward is to set a chain- or country- wide price. Alternatively, managers of retail chains may customize prices to the store level according to local demand and competitive conditions. For example, a chain may price lower in a location with lower demand and/or more competition. However, despite having the ability to customize prices to local market conditions, some choose instead to commit to uniform pricing with a “one price policy” across their entire store network. As an illustration, we focus on UK supermarket chains. Is there an advantage to be gained from deliberately choosing not to price discriminate across locations? We show generally and illustrate through means of a specific model that there exists a strategic incentive to soften competition in competitive markets by committing not to customize prices at the store level and instead adopt uniform pricing across the store network, and to raise overall profits thereby. Furthermore, we characterize quite precisely the circumstances under which uniform pricing is, and is not, profitable and illustrate that under a range of circumstances uniform pricing may be the preferable strategy.Chain-store retailers ; price discrimination ; uniform pricing ; local pricing ; commitment

The effect of boundary constraints on finite element modelling of the human pelvis

The use of finite element analysis (FEA) to investigate the biomechanics of anatomical systems critically relies on the specification of physiologically representative boundary conditions. The biomechanics of the pelvis has been the specific focus of a number of FEA studies previously, but it is also a key aspect in other investigations of, for example, the hip joint or new design of hip prostheses. In those studies, the pelvis has been modelled in a number of ways with a variety of boundary conditions, ranging from a model of the whole pelvic girdle including soft tissue attachments to a model of an isolated hemi-pelvis. The current study constructed a series of FEA models of the same human pelvis to investigate the sensitivity of the predicted stress distributions to the type of boundary conditions applied, in particular to represent the sacro-iliac joint and pubic symphysis. Varying the method of modelling the sacro-iliac joint did not produce significant variations in the stress distribution, however changes to the modelling of the pubic symphysis were observed to have a greater effect on the results. Over-constraint of the symphysis prevented the bending of the pelvis about the greater sciatic notch, and underestimated high stresses within the ilium. However, permitting medio-lateral translation to mimic widening of the pelvis addressed this problem. These findings underline the importance of applying the appropriate boundary conditions to FEA models, and provide guidance on suitable methods of constraining the pelvis when, for example, scan data has not captured the full pelvic girdle. The results also suggest a valid method for performing hemi-pelvic modelling of cadaveric or archaeological remains which are either damaged or incomplete

Citation rhetoric examined

In his influential monograph «The Rhetoric of Citation Systems», Connors (1999) elaborates on the principle that scholars working with different forms of citation find themselves thinking differently, since the citation format has natural consequences in the way it interacts with the material in the practice of the writer. [...

University-private sector partnerships:assessing long-term collaboration to deliver economic impact in the Northwest of England

Objectives Private and public sector working together for mutual benefit is nothing new and in the context of education, this has historically focussed on areas such as employability-related experiences for students, supply-chains for goods and services, and within higher education specifically, the growing need to demonstrate research impact. In this presentation, we explore the impact of private and public-sector working together to deliver regional economic growth through technology transfer. The objectives of this research stems from a twelve-year collaborative relationship between a higher education institute (HEI) and a private sector, technology value-added reseller (VAR). The authors assess and reflect on this activity, funded through the European Regional Development Fund (ERDF) to help understand the inputs, processes and outcomes of that relationship. Approach / Methodology The approach undertaken was firstly to identify the ERDF-funded projects since 2002 that the VAR (Quadra Solutions Ltd) has been a part of, as a private sector partner, with the HEI (Lancaster University’s Engineering Department). This is defined as where there is a service level agreement in place and the provision of match-funding is committed-to in that contract. This differs from that of a sub-contractor where the relationship may be better defined as purchaser-supplier and emphasizes the collaborative nature of the relationship being explored. We subsequently identified the ‘interventions’ in which both the knowledge exchange team (Lancaster Product Development Unit) and Quadra Solutions Ltd had worked with a ‘beneficiary’ as part of those ERDF initiatives. Retaining confidential information, these interventions were aggregated and basic company information collected in terms of location, size (by turnover) and sector. Analysis was then undertaken on the results collected as a consequence of that intervention, based on the following economic key performance indicators (KPIs): businesses improving performance; safeguarding of jobs; and the creation of new jobs. Qualitative reflection was carried out to assess wider impacts of the relationship and the development of a model that articulates this way of working. We highlight both the benefits and drawbacks based on extensive experience of providing technology-transfer solutions to SMEs, part-funded by ERDF. Results The results show that 93 interventions have been undertaken between Lancaster University’s Engineering Department and Quadra Solutions Ltd, in-part funded by ERDF between 2003 and 2015, spanning seven major projects. All of these interventions supported technology transfer by the introduction of a new or enhanced design process within the beneficiary, using the Autodesk family of software. All beneficiaries receiving support were SMEs, complying with national and regional eligibility guidelines as defined by the funding body secretariat. Sectoral breakdown unsurprisingly shows that the vast majority were in the engineering/manufacturing sector, accounting for 94.6% of the total. Of those SMEs that were assisted, all received increased functionality via the introduction or improvement to design software than that previously being used, demonstrating clear technology transfer. Where data was obtained, this intervention led to the cumulative safeguarding of 102.1 jobs and the creation of 71 jobs. As noted elsewhere, there is considerable ambiguity in using figures that attempt to provide a unit cost per result, and whilst one can attempt to draw comparison with other initiatives in other areas, this can be problematic due to assumptions made. For the purposes of this investigation, we have benchmarked against ourselves and show that for all cumulative ERDF assistance provided by the Engineering Department, the average job created per intervention is 0.64 and the average job safeguarded is 0.91. For the technology transfer work carried out in partnership with Quadra Solutions Ltd, the figures are 0.76 and 1.10, respectively. More widely, there are other impacts from joint collaboration with private sector partners that have been created, for the HEI: • Clear access to the latest in engineering design functionality, informed by globally-operating OEMs spanning many sectors; • Provision of a match-funding contribution through the time of company representatives contributing towards the objectives of the project; • Sharing of a networks of users and manufactures in close proximity, with a ‘seal-of-approval’ for quality of work; • Local, regional, national and international market intelligence; • Formalisation in the pursuit of similar objectives; • Contribution to the state-of-the-art and hence vital commercial-sector input to other future programmes of business support. The benefits created by such a relationship for private sector partners include: • Promotion of joint-funding opportunities to potential beneficiaries generating in-house advocates, or ‘funding champions’; • Ability to join-up wider business-support allied to technology transfer, which may include time-bound financial incentives, training offers, subscriptions, hardware support and so on. • Increased knowledge and experience of public-funding processes, regulations and conditions; • Externally-visible partnerships with a world-ranked university. Arguably the most important benefits relate to the end-user, which in this case is the beneficiary. The following model outlines a typical journey taken by a beneficiary through the technology acquisition route of intervention. Additional benefits to the beneficiaries in these cases may include: • Increased ability to develop new products • Awareness of how new technology processes can be further exploited, such as through expansion, training, add-ons; • A route into higher education to explore other research and development opportunities that may exist beyond that of the intervention; Implications and Recommendations The authors fully accept that there are a number of issues with the data collected which include that our assessment methods: • Only take account of the reported results when/if engaged with the beneficiary. Some beneficiaries become reluctant to undertake evaluation after the assistance has been delivered. • It does not record the exact time input to each intervention made by either the HEI or the VAR. • The package of support (or agreed solution) has not been specified and will include some differences, in this case in software, including for example upgrades or new packages. Notwithstanding some of the limitations outlined above, we have been able to demonstrate that the work carried-out by the partnership of a private sector VAR and an HEI to support SMEs in technology transfer has clear, demonstrable impact, both quantitatively and qualitatively. Such a model can be applied to future initiatives that have technology transfer as a theme within business support. Areas for development / future research There are a number of important areas underpinned by this work that would be useful to explore further: • Sector transference, for example application in other disciplines requiring software, such as for example architecture, construction, chemicals, food and drink, creative. • Technology transference, for example application of using other technologies beyond software, such as for example, manufacturing hardware. • Longer-term assessment of the impact to beneficiaries of these interventions, which may include aspects related to innovation culture, new product development or increased capacity for R&D. • Exploration of opportunities that may be available beyond the intervention provided, by the HEI, such as access to graduates, and the ‘completion of the circle’

High resolution crystal structure of the Endo-N-acetyl-beta-D-glucosaminidase responsible for the deglycosylation of hypocrea jecorina cellulases

Endo-N-acetyl-beta-D-glucosaminidases (ENGases) hydrolyze the glycosidic linkage between the two N-acetylglucosamine units that make up the chitobiose core of N-glycans. The endo-N-acetyl-beta-D-glucosaminidases classified into glycoside hydrolase family 18 are small, bacterial proteins with different substrate specificities. Recently two eukaryotic family 18 deglycosylating enzymes have been identified. Here, the expression, purification and the 1.3 angstrom resolution structure of the ENGase ( Endo T) from the mesophilic fungus Hypocrea jecorina (anamorph Trichoderma reesei) are reported. Although the mature protein is C-terminally processed with removal of a 46 amino acid peptide, the protein has a complete (beta/alpha) 8 TIM-barrel topology. In the active site, the proton donor (E131) and the residue stabilizing the transition state (D129) in the substrate assisted catalysis mechanism are found in almost identical positions as in the bacterial GH18 ENGases: Endo H, Endo F1, Endo F3, and Endo BT. However, the loops defining the substrate-binding cleft vary greatly from the previously known ENGase structures, and the structures also differ in some of the alpha-helices forming the barrel. This could reflect the variation in substrate specificity between the five enzymes. This is the first three-dimensional structure of a eukaryotic endo-N-acetyl-beta-D-glucosaminidase from glycoside hydrolase family 18. A glycosylation analysis of the cellulases secreted by a Hypocrea jecorina Endo T knock-out strain shows the in vivo function of the protein. A homology search and phylogenetic analysis show that the two known enzymes and their homologues form a large but separate cluster in subgroup B of the fungal chitinases. Therefore the future use of a uniform nomenclature is proposed