Cloud Manufacturing Model to Optimise Manufacturing Performance

Being predicted as the future of modern manufacturing, cloud-based manufacturing has drawn the attention of researchers in academia and industry. Researches are being done towards transforming every service in to cloud based service-oriented manufacturing mode in the manufacturing industry. There are many challenges that would arise when travelling towards this paradigm shift which is being addressed by researchers, but there are very few researches that concentrate on the elastic capability of cloud. Elastic capability makes this paradigm unique from all the other approaches or technologies. If elasticity is not achievable then the necessity of migrating to cloud is unnecessary. So, it is imperative to identify if at all it is necessary to adopt cloud-based manufacturing mode and discuss the issues and challenges that would arise to achieve elasticity when shifting to this emerging manufacturing paradigm. This research explores the importance of adopting cloud-based manufacturing mode to improve manufacturing performance based on the competitive priorities such as cost, quality, delivery and flexibility and proposes an elasticity assessment tool to be included in the cloud-based manufacturing model for the users to assess the challenges and issues on the realisation of elasticity on the context of manufacturing, which is the novelty of this research. The contribution to knowledge is a clear understanding of the necessity of cloud based elastic manufacturing model in the manufacturing environment for the manufacturing SMEs to gain a competitive advantage by achieving the competitive priorities such as low-cost, high-quality, and on-time delivery. Finally, the research suggests the best combination of manufacturing parameters that has to be emphasised to improve the manufacturing performance and gain a competitive advantage

OTC Derivatives Market in India: Recent Regulatory Initiatives and Open Issues for Market Stability and Development

The OTC derivatives markets all over the world have shown tremendous growth inrecent years. In the wake of the present financial crisis, which is believed to have beenexacerbated by OTC derivatives, increasing attention is being paid to analysing theregulatory environment of these markets. In this context, we analyse the regulatoryframework of the OTC derivatives market in India. The paper, inter alia, seeks toprove the point that the Indian OTC derivatives markets, unlike many otherjurisdictions, are well regulated. Only contracts where one party to the contract is anRBI regulated entity are considered legally valid in India. A good reporting systemand a post-trade clearing and settlement system, through a centralised counter party,has ensured good surveillance of the systemic risks in the Indian OTC market.From amongst the various OTC derivatives markets permitted in India, interest rateswaps and foreign currency forwards are the two prominent markets. However, byinternational standards, the total size of the Indian OTC derivatives markets stillremains small because credit default swaps were conspicuously absent in India untilnow. It appears that Indian OTC derivatives markets will grow fast once again afterthe present financial crisis is over. This research paper explores those open issues thatare important to ensure market stability and development. On the issue of the muchdiscussed competition between exchange-traded and OTC-traded derivatives, webelieve that the two markets serve different purposes and would contribute more torisk management and market efficiency, if viewed as complementary. Regarding theintroduction of new derivative products for credit risk transfer, the recentannouncement by the RBI that it would introduce credit default swaps is a welcomesign. We believe that routing of credit default swaps through a reporting platform andmanaging its post-trade activities through a centralised counterparty would providebetter surveillance of the market. Strengthening the position of the ClearingCorporation of India Ltd. (CCIL) as the only centralised counterparty for Indian OTCderivatives market and better supervision of the off-balance sheet business offinancial institutions are two measures that have been proposed to ensure the stabilityof the market.Derivatives and Over the Counter Market, Financial Institutions and Services and Government Policy and Financial Regulation