Globalization and Growth in the Australian Manufacturing Sector: A Comparison of the Performance of the Subdivisions | Chapter 4 | Contemporary Research in Business, Management and Economics Vol. 6

 

Aims: The fundamental objective of the study is to assess the relative growth performance of the subdivisions of the Australian manufacturing sector in a globalized environment as reflected in trade liberalization in the period 1968/69-2021/22.

 

Study Design:  The study involves primary data which is used to formulate figures and tables.

 

Place and Duration of Study: University of Western Sydney, School of Business between December 2022 and January 2024.

 

Methodology: Figures and tables are used as the main framework of the analysis of the study.

 

Results: The capital-intensive manufacturing subdivisions have exhibited a stronger growth performance relative to the more labor-intensive manufacturing subdivisions. For example, the former category is characterized by coal, petroleum and related products manufacturing and metal product manufacturing growing by 3.6 and 2,6 percent respectively compared to textile, clothing and footwear manufacturing which is representative of the latter category growing by 0.1 of one percent in the period 1968/69 -2021/22.

 

Conclusion: Manpower policies are required to re-train the unemployed labor emanating from the contraction of the labor-intensive manufacturing subdivisions to enhance employment prospects in the expanding capital-intensive manufacturing subdivisions.

 

 

Author(s) Details

Andrew Marks

University of Western Sydney, Locked Bag 1797, Penrith, N.S.W., 2751, Australia.

 

Please see the book here:- https://doi.org/10.9734/bpi/crbme/v6/3185G

E-commerce Adoption on Inventory Management for Manufacturing Companies in Nigeria: An Econometric Study | Chapter 6 | Business, Management and Economics: Research Progress Vol. 3

 

Electronic commerce, otherwise known as e-commerce is increasingly evolving itself into a dynamic force changing the logistics activities within the Nigerian manufacturing industry. Inventory management is an essential element of supply chain management, involving the supervision and control of the order, storage, and utilisation of components essential for production, as well as the management of finished products awaiting sale. The study examined the effect of Business-to-Business E-commerce adoption on inventory management using manufacturing companies in Nigeria under the category of consumer goods as a case study. Inefficient inventory management leading to a rise in costs and a decrease in customer satisfaction level is one of the major challenges encountered by Nigerian manufacturing companies but this can be resolved through the implementation of e-commerce hence the study focussed on inventory management variables which are; inventory accuracy, stockout frequency, inventory turnover rate, demand forecasting accuracy, storage optimisation, inventory holding costs, supplier reliability, inventory audit frequency, obsolete inventory and inventory replenishment. The explosion of e-commerce in the logistics sector has posed a challenge that must be effectively managed to sustain the volume of goods across long distances, the interface between e-commerce and in particular inventory management, for instance via stocks and warehousing has become so important to be overlooked. The study was carried out in Nigeria and the population of the study includes staff of 20 manufacturing companies listed on the Nigerian Stock Exchange as of 2023. A simple random sampling technique was used to select 718 respondents. Data was collected through a structured questionnaire and was analysed using both one-sample t-test analysis and multivariant regression analysis. E-commerce has a positive and significant effect on stockout frequency (P = 0.000), inventory turnover rate (P=0.000), demand forecasting accuracy (P=0.000), storage optimisation (P=0.000), and inventory replenishment (P=0.000). The findings revealed significant improvements in inventory accuracy, reduced stockout frequency, increased inventory turnover rate, and improved demand forecasting accuracy. Evidently, these findings imply that the adoption of e-commerce is essential in optimising inventory management processes and thus recommends that manufacturing companies should further utilise digital tools to enable better forecasting in inventory management and efficient stock handling in order to efficiently track stock levels, enhance demand forecasting and then improve the overall inventory control.

 

Author(s) Details

 

Omorinde O. A.
Department of Transport Management, Ladoke Akintola University of Technology, Ogbomoso, Oyo State, Nigeria.

 

Ayantoyinbo B. B.
Department of Transport Management, Ladoke Akintola University of Technology, Ogbomoso, Oyo State, Nigeria.

 

Dosunmu V. A.
Ogbomoso, Oyo State, Nigeria.

 

Please see the book here:- https://doi.org/10.9734/bpi/bmerp/v3/1476

Globalization and Growth in the Australian Manufacturing Sector: A Comparison of the Performance of the Subdivisions | Chapter 4 | Contemporary Research in Business, Management and Economics Vol. 6

 Aims: The fundamental objective of the study is to assess the relative growth performance of the subdivisions of the Australian manufacturing sector in a globalized environment as reflected in trade liberalization in the period 1968/69-2021/22.

Study Design:  The study involves primary data which is used to formulate figures and tables.

Place and Duration of Study: University of Western Sydney, School of Business between December 2022 and January 2024.

Methodology: Figures and tables are used as the main framework of the analysis of the study.

Results: The capital-intensive manufacturing subdivisions have exhibited a stronger growth performance relative to the more labor-intensive manufacturing subdivisions. For example, the former category is characterized by coal, petroleum and related products manufacturing and metal product manufacturing growing by 3.6 and 2,6 percent respectively compared to textile, clothing and footwear manufacturing which is representative of the latter category growing by 0.1 of one percent in the period 1968/69 -2021/22.

Conclusion: Manpower policies are required to re-train the unemployed labor emanating from the contraction of the labor-intensive manufacturing subdivisions to enhance employment prospects in the expanding capital-intensive manufacturing subdivisions.

Author(s) Details:

Andrew Marks,
University of Western Sydney, Locked Bag 1797, Penrith, N.S.W., 2751, Australia.

Please see the link here: https://stm.bookpi.org/CRBME-V6/article/view/14352

Are John M. Clark Business Cycles Insights Still Relevant Today? | Chapter 2 | An Overview on Business, Management and Economics Research Vol. 6

 The object concerning this study is to equate numerical results for a thought experiment of the commerce of business phases with pictorial demand and cost curves. This is a pure theoretical model stimulated by the manuscripts of John M. Clark (1884-1963). This study models a hypothetic cement industry, product Q. The plant property are assumed long-lasting, to last for 50 years, and distinguishing to manufacturing only one device, Q The model, with allure rigid acceptances, shows that industry composed of only up-to-date low established-cost Plants K will increase the amplitude of implausible story cycle, the range of industry outputs middle from two points peak and off-peak, versus an manufacturing composed of only traditional high fixed-cost Plants L. The model shows a certain aspect of established costs: that one can wish that industry with extreme fixed costs to have diminished amplitude of killing cycle. Some can find this a surprising result.

Author(s) Details:

Gerald Aranoff,
Ariel University, Ariel 40700, Israel.

Please see the link here: https://stm.bookpi.org/AOBMER-V6/article/view/12671

Thought Experiment Transfer Pricing Alternatives: Supporting John M. Clark’s Workable Competition Pricing

 The object of this study is to analyze numerical results for a thought experiment comparing transfer pricing alternatives of a hypothetical corporation having a manufacturing division making a single product and a marketing division that sells that product. Each division seeks to maximize its own profits. The marketing division faces hypothetical fluctuating demand fluctuations, prosperity versus depression, for a final product that is semi-perishable costly to store such as cement. The manufacturing division has two alternate technologies, high fixed cost versus low fixed costs. The transfer pricing alternatives: A) short-run marginal cost pricing high price volatility over the business cycle versus B) John M. Clark’s workable competition pricing low price volatility over the business cycle. The manufacturing division plants have linear total cost functions with absolute capacity limits. In opposition to perfect competition theory, this study argues in support of John M. Clark (1884-1963) workable competition theory. The thought experiment shows a gain in consumer surplus and to corporate profits over the cycle with transfer pricing John M. Clark’s workable competition theory. This article offers reasons for this gain. This thought experiment should inspire other researchers to do similar hypothetical thought experi-ments.

Author(s) Details:

Gerald Aranoff,
Ariel University, Ariel 40700, Israel.

Please see the link here: https://stm.bookpi.org/CABEF-V9/article/view/9295

Thought Experiment Cement Industry Demand Fluctuations: Supporting John M. Clark's Workable Competition Pricing | Chapter 08 |New Innovations in Economics, Business and Management Vol. 7

 The purpose of this research is to compare numerical results for a hypothetical numerical model of a cement industry facing demand fluctuations, high versus low, with alternate technologies, high fixed cost versus low fixed cost, using marginal cost pricing versus John M. Clark's workable competition pricing, using marginal cost pricing versus John M. Clark's workable competition pricing. The article is an economics thought experiment that is only carried out in the mind. The article presents a detailed numerical model of a basic industry, cement manufacturing, with a large number of sellers, cement factories, and large numbers of buyers, the construction industry, all of whom work independently and are fully aware of supply and demand conditions. The model's cement plants have linear total cost functions and absolute capacity constraints. The article contrasts two technologies: 1) old plants with low fixed costs but high marginal costs, and 2) new plants with high fixed costs but low marginal costs. This study argues in favour of John M. Clark's (1884-1963) practicable competition theory, which is opposed to marginal cost competition theory. The study investigates the likely equilibrium conditions under two pricing systems: A) short-run marginal cost pricing and B) John M. Clark's practical competition concept. Workable competition raises prices above marginal costs in the off-peak period, but lowers prices in the peak period. The study assumes a 6/7 off period and 1/7 peak period frequency. Workable competition pricing, according to the paper, increases consumer surplus over time under the model's assumptions. Under the model's assumptions, the study claims that gains in consumer surplus from workable competition pricing in high-demand periods, though infrequent (1/7), will outweigh losses in consumer surplus from workable competition pricing in low-demand periods, which are more frequent (6/7).

Author(S) Details

Gerald Aranoff
Ariel University, Ariel 40700 Israel.

View Book:- https://stm.bookpi.org/NIEBM-V7/article/view/6393

Analysis of Porosity Defects in Aluminum as Part Handle Motor Vehicle Lever Processed by High-pressure Die Casting: Recent Advancement | Chapter 9 | Advanced Aspects of Engineering Research Vol. 6

 The testing and analysis of cracking Aluminum (Al) materials is the subject of this study. A braking device on a motor vehicle was once as simple as a handle lever. The portion content of porosity from hydrogen gas causes cracking of the handle lever. The presence of H2 can be attributed to a less-than-perfect casting process and die design, particularly at the gate or brisket, as well as overflow. The goal of this study is to improve the process of creating Al part handle levers and fabrication dies by adhering to a set of guidelines. The results of these enhancements were re-evaluated using chemical and mechanical testing qualities, such as density and tensile tests on the workpiece as a part handle lever. The tensile test loads were 25 kg and 35 kg, and the tensile test result met the motor vehicle company's requirement. The porosity defect can be minimised by 99 percent as a result of the optimization. As a result, the best part handle lever can be manufactured. The results clearly demonstrate that process improvements have been accomplished, and mechanical properties and safety have fulfilled the norms.

Author(s) Details

L. Anggraini
Faculty of Engineering, President University, Jalan Ki Hajar Dewantara, Jababeka Education Park, Cikarang Baru, Bekasi 17550, Indonesia.

Sugeng
Undergraduate Study Program of Mechanical Engineering, President University, Jalan Ki Hajar Dewantara, Jababeka Education Park, Cikarang Baru, Bekasi 17550, Indonesia.

View Book :- https://stm.bookpi.org/AAER-V6/article/view/1002

A Numerical Example Illustrating Globalization: Focus should be on Supply for the Peaks | Chapter 1 | Insights into Economics and Management Vol. 1

 

We are talking about globalisation and the recent manufacturing and construction slowdown. We present a novel globalisation model consisting of two countries, X and Y, each with domestic and foreign open-market systems. In each nation, we compare two pricing policies: short-run marginal cost, SRMC, versus fixed prices, P, over the business cycle. We are presenting a proposition and proof. With graphs for each country, we give a detailed numerical example. The key consequence is that P increases the volatility of Q demand over the cycle during the business cycle and increases market surplus in both countries under certain conditions. The numerical example shows a drawback of SRMC pricing under demand fluctuations—that the required price in high-demand times to balance accounts becomes extremely high. Consumers are better off with P , paying a small increase over SRMC in the off-peak, 6/7th of the time, to avoid the extremely large required price of SRMC in the peak times, because it’s only 1/7 of the time. The surprising point is that though peak times are infrequent, the prices and quantities at peak times, determine which pricing arrangement is better for consumers. The significance of my mathematical proof is to urge social focus on increasing and prolonging cyclical peaks.

Author(s) Details

Gerald Aranoff
Professor of Accounting, Ariel University, Ariel 40700 Israel.

View Book :- https://bp.bookpi.org/index.php/bpi/catalog/book/276

A Model of Manufacturers and Buyers of Cars Over the Business Cycle Illustrating Competitive Manufacturing: Advanced Study | Chapter 3 | Current Strategies in Economics and Management Vol. 2

I illustrate competitive manufacturing with a simple numerical model of manufacturers and buyers of carsoverabusinesscyclewithoff-peakandpeakdemandperiods. Mymodelhastwotypesofplants manufacturing cars, plantK and plantL, each having linear total costs with absolute capacity limits. PlantK operates with low VC and high FC. PlantK, because of its low VC, produces continuously at capacity in off-peak and in peak periods. PlantL, because of its high VC, shut-downs in off-peak periods and produces at capacity in peak periods. I show results under perfect competition SRMC pricing. I prove mathematically two propositions with this model. Proposition I shows mathematically the conditions of investor indifference to choose between PlantsK and PlantsL. The significance is to show a positive aspect of PlantsL, its output-rate flexibility, that some may overlook. Proposition II shows mathematically the conditions that shifting consumption of car purchases from off-peak to peak necessarily adds to consumer surplus. The significance is to show the importance of increasing consumer purchases in peak periods. These two propositions are intuitive and common sense.

Author(s) Details

Gerald Aranoff
Professor of Accounting, Bnei Brak, Israel.

View Book :- http://bp.bookpi.org/index.php/bpi/catalog/book/185