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In supply chain management (SCM), product classification and demand forecasting are crucial pillars to ensure companies to have production in the right category and quantity for long-term profitability. Due to COVID-19 from 2019, the automobile industry has been seriously negatively affected as the demand dropped dramatically. Therefore, it is necessary to make reasonable product classification and accurate demand forecasting to facilitate automobile companies in SCM to reduce unpopular product manufacture and unnecessary storage costs. In this paper, the Canada automobile market has been chosen with the period from 1946 to 2022. To classify a number of different types of motor vehicles into several categories with general characteristics, K-means Clustering method is applied. With the seasonal patterns and random generated features for auto sales, the time series models ARIMA and SARIMA are adopted for demand forecasting. According to the analysis, the automobiles fitting in the category with high demand and low price are valuable for further production. In addition, SARIMA Model is more accurate and fits better than ARIMA Model for both the training and test datasets for long-term prediction. The classification and forecasting results shed light on guiding manufacturers to adjust production schemes and ensuring auto dealers to predict more accurate sales in order to optimize the strategic planning. © 2023 SPIE.
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Nowadays, manufacturing companies face more difficulties than ever. Unrest in global supply chains triggered by fluctuating customer demand, raw material shortages and crises (Covid pandemic, global warming, wars) complicate the utilization of production resources necessary for economic success. Also, the rapidly changing environment causes existing production plans to be adapted, which results in order changes, causing additional costs for manufacturers. One solution to cope with these problems is cooperation and sharing resources: requesting capacity from partners when having shortages and offering them temporarily in case of excess capacity. In this paper, a platform-based resource sharing mechanism is investigated from the economic perspective. In the mechanism, requests and offers are matched by a central platform applying a complex matching logic. The platform provides valid alternatives based on the incoming ordersthat the requesting company can choose from. Companies are rating each other's performance after each interaction based on delivery accuracy;choosing between resource offers is made based on the cumulated rating about the offeror and the price of the offer. Within this paper, the aim is to investigate the resource sharing mechanism from the economic point of view based on an approach to the responsiveness of a supply chain structure to turbulence, to support decision-makers trying to cope with unexpected changes. For this purpose, here the mechanism is briefly introduced, and basic concepts about turbulences in supply chains are also presented. Cost types related to resource sharing manufacturing companies are distinguished, and the model is validated with agent-based simulation. A simulation experiment is performed to investigate the use-case of outsourced jobs having different price levels. Based on the experiment, it can be concluded that there is a price level limit in such a resource sharing federation, under which it is worth it to collaborate with partners by outsourcing certain jobs to them. © 2022 Authors. All rights reserved.
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The research question of which firm-level factors make firms more vulnerable to exchange rate fluctuations during periods of crisis has rarely been explored by prior literature. Using a large sample of 1577 firms from 9 developed and 11 emerging countries, this study presents a comprehensive analysis of how firm-level factors affect firms' foreign exchange exposure before and during the COVID-19 crisis. The results provide evidence of a substantial increase in firms' linear exposure during the COVID-19 period. The cross-sectional analysis reveals that the effects of firm-level variables on exposure are more pronounced during crisis periods and are different from non-crisis periods. Firms that have effective asset utilization or large operating profit margins remain less exposed during times of stress. Contrary to hedging theory, firms that have high incentives to hedge such as firms with high financial leverage become highly exposed to currency fluctuations during crisis periods. The interaction analysis provides further evidence that firms with high leverage can limit their foreign exchange exposure during periods of crisis if they have high asset turnover or high operating profits. The results offer important practical implications to firms for risk management during periods of crisis.
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The article focuses on how the actors of industrial relations acted at firmlevel in multi-national company, Danone, in two different institutional contexts (Italy and France), in order to set rules and procedures aimed to mitigate the negative psycho-social consequences of remote working adopted during Covid-19 pandemic. In particular, it examines what was the role of firm-level industrial relations in setting specific oriented actions and what were the relations between these, global policies of the company and national level policies about health and safety and in general the institutional context. It emerges the importance of informality of relations between actors in helping to face an emergency together with the role of global policies of the company that seems to overcomes the different national institutional contexts.
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Farmer Producer Companies are emerging as an innovative model to transform agriculture into a profitable business venture by leveraging the collectives of small and marginal farmers through economies of scale with better bargaining power, better value addition facilities, better access to farming technologies, better input supply, and better market accessibility. Financial performance indicates the financial health and resource utilization efficiency of a business organization or a company over a certain period. In the present study, a comparative analysis of balance sheets and income statements was made for five different Farmer Producer Companies of Eastern Uttar Pradesh to identify the pattern of change in various financial components from 2019-20 to 2020-21. Based on the analysis, the important findings were that reserve and surpluses were significantly increased for most of the FPCs for future business expansion, three FPCs reported increased total liabilities, and all of the FPCs managed to grow their total assets compared to the previous year. The revenue growth rate for three FPCs was below par. The performance of the FPCs in respective to net profit after tax was asymmetric. Out of five, only four FPCs were able to meet all the operational expenses from the revenue generated out of business activities and hence, considered profit-making. Moreover, the overall financial performance of the FPCs was disrupted due to the wrath of the Covid-19 pandemic. © Economic Affairs (New Delhi).All rights reserved
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O objetivo deste artigo é discutir sobre as relações de comunicação constituídas no contexto do trabalho de entrega (delivery) mediado por plataformas digitais, considerando especificamente o caso da empresa iFood no Brasil. Trata-se de uma proposta que busca refletir como a referida empresa opta, no projeto e na interface do seu aplicativo, por uma interação limitada com os trabalhadores que realizam a atividade de entrega. Pode-se dizer que, nesse sentido, existe uma assimetria de informação nas relações entre a empresa de plataforma digital e os chamados "entregadores”, visto que a empresa possui o monopólio da informação do processo de trabalho gerenciado e controlado algoritmicamente por ela própria. A discussão apresentada neste artigo se apoia em resultados de uma pesquisa empírica realizada com trabalhadores que utilizaram o aplicativo de delivery da empresa iFood na região sul do país, em 2020, no contexto da pandemia de COVID-19.Alternate :The aim of this article is to discuss the communication relationships established in the context of food delivery work mediated by digital platforms, specifically considering the case of the iFood company in Brazil. It is a proposal that seeks to reflect how the before-mentioned company chooses, in the design and interface of its app, for a limited interaction with the workers who carry out the delivery work. It can be said that, in this sense, there is an information asymmetry in the relationships between the digital platform company and the so-called "delivery riders”, since the company has a monopoly of information in the work process managed and algorithmically controlled by itself. The discussion presented in this article is based on the results of an empirical research carried out with workers who used the iFood company's delivery app in the southern Brazil, in 2020, in the context of the COVID-19 pandemic.
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The Covid-19 pandemic and Brexit have focused attention on the resilience of key sectors and firms. This paper explores the financial resilience of the 50 largest automotive firms in the West Midlands region of the UK in their response to disruption and economic shocks. The findings demonstrate that 22 firms are at high risk due to poor current liquidity ratios, with Coventry and Birmingham emerging as locations most susceptible to firm closures. High-risk firms include key flagship original equipment manufacturers operating at the downstream end of supply chains. If these firms were to fail, there would be a significant destructive impact on both the industry and the local economy. We assert an effective subnational industrial policy is required in order to support economic resilience in regions such as the West Midlands where a few firms account for a disproportionate share of employment and value-added.
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The research subject of this paper is the analysis of the attitudes of employees in pharmaceutical companies towards the business aspects of the pharmaceutical industry during and after the end of the pandemic in the Republic of Serbia. The aim is to examine the differences in the attitudes of employees, as well as to determine which variables predict the situations of endangering the professional reputation of pharmaceutical companies during the COVID-19 pandemic. The research was conducted by means of a survey during 2021 on a sample of 27 innovative and generic pharmaceutical companies. We used the SPSS program for descriptive statistics analysis, chi square test and binary logistic regression models. The findings show that there is a statistically significant difference in the expressed attitudes of employees in innovative and generic pharmaceutical companies in terms of coming to the office during the pandemic;the lack of medicines and medical devices used in the treatment of COVID-19 infections;the patient access to a chosen doctor;the expectations of the employees to continue working from home after the outbreak of the COVID-19 pandemic. The findings of the binary regression models show the slowdown in the supply chain, the access to doctors and working from the home office have not been perceived as creating situations of endangering professional reputations, that is, they contribute to the sustainable economic success. On the other hand, the introduction of digital technologies decreases the occurrence of conditions in which their professional reputation has been threatened.
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In Japan, workcations have gained attention as a way to offset the economic damage caused to inbound tourism by the COVID-19 pandemic. Considering its aims to contribute to the local community and increase interactions with local residents, the Japanese-style workcation can be positioned as a form of digital nomadism that seeks alternatives to existing work styles. This study is based on fieldwork in Tottori Prefecture in Japan and includes interviews and participant observation. It aims to examine (1) national and local government workcation policies, (2) the development of new services and businesses that facilitate workcation, and (3) the process of introducing hybrid work in companies. Japanese-style workcation as a social design can offer solutions to problems such as the concentration of population in cities, ageing population, and declining tourism industry. The work styles and lifestyles suggested by the Japanese-style workcation should continue to be explored as an area where new tourism, social design, and community design overlap. At the same time, incorporating digital nomadism as individualism into the workcation remains a future issue.
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The main focus of this article is the problem of exacerbating agricultural risks in the context of the COVID-19 crisis, which started against the background of the novel coronavirus (COVID-19) pandemic. The motivation for conducting the research presented in this article was the desire to increase the resilience of agricultural companies to economic crises. This paper is aimed at studying the Russian experience of changing the production and financial risks of agricultural companies during the COVID-19 crisis, substantiating the important role of innovations in reducing these risks, and determining the prospects for risk management in agriculture based on innovations to increase its crisis resilience. Using the structural equation modelling (SEM) method, we modelled the contribution of innovations to the risk management of agriculture during the COVID-19 crisis. The advantages of the SEM method, compared to other conventional methods (e.g., independent correlation analysis or independent regression analysis), include the increased depth of analysis, its systemic character, and the consideration of multilateral connections between the indicators. Using the case-study method, a "smart" vertical farm framework is being developed, the risks of which are resistant to crises through the use of datasets and machine learning. The originality of this article lies in rethinking the risks of agriculture from the standpoint of "smart" technologies as a new risk factor and a way to increase resilience to crises. The theoretical significance of the results obtained is that they make it possible to systematically study the changes in the risks of agriculture in the context of the COVID-19 crisis, while outlining the prospects for increasing resilience to crises based on optimising the use of "smart" technologies. The practical significance of the article is related to the fact that the authors' conclusions and applied recommendations on the use of datasets and machine learning by agricultural companies can improve the efficiency of agricultural risk management and ensure successful COVID-19 crisis management by agricultural companies.
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Background: Companies had to find quick solutions for continuing to work due to the pandemic in spring 2020. However, working conditions at home (teleworking) do not always comply with the basic principles and quality criteria of workplace health promotion (WHP). Objectives: How strongly is the approach of health-promoting telework (working at home) established in companies and what influences the strategic anchoring and the use of supporting materials? Materials and methods: Theoretically derived hypotheses were operationalised and 1858 Austrian companies were invited to participate in an online survey. The sample (n = 192) represents a broad mix of company sizes, sectors and regions. Results: Workplaces vary widely in their intention to implement health-promoting telework in the future. A part can be explained by multivariate path models, with behavioural control and social norms playing a central role. The former is determined by the degree of preparation for telework and its implementation in the company. In particular, teleworking culture, in addition to teleworking readiness, is shown to be responsible for the strength of social norms towards its implementation. Conclusions: Teleworking has so far received too little attention in the sense of holistic WHP. Such an implementation strongly depends on the health-promoting corporate structures and processes, the culture, and the decision-makers' scope for action. Companies are recommended to follow the concept of capacity building in order to build up competencies and knowledge and to enable appropriate measures.
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The main purpose of this research is to analyze the using of bank loans provided by the banking sector in accommodation companies traded in Borsa Istanbul in terms of type, maturity and cost. The study also examined the impact of the Covid-19 outbreak on the accommodation companies' use of bank loans. In this context, the level of bank loan usage, the type of bank loans, interest rates, maturity and their distribution in currency between the years 2009 and 2021 were tried to be determined by ratio and document analysis. As a result of the analysis, it was determined that 10,84% of the assets in accommodation companies are financed by bank loans, the use of bank loans in total liabilities is 19.92% and short-term bank loans are preferred. It was also detected that accommodation companies mainly benefit from business loans, daily spot loans, revolving loans, current account loans, foreign exchange earning loans, vehicle loans and investment loans in Turkish Lira, Dollar, Euro and Sterling with interest rates varying every year. However, compared to the pre-Covid-19 outbreak period, it was observed that the level of bank loans used by accommodation companies first decreased, but then increased again.
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The chapter contains a study of the impact of the new coronavirus pandemic 2019–2020 on the business activity of economic entities of the EAEU and BRICS jurisdictions in the implementation of foreign trade activities. The authors note the need and highlight the opportunities for wider and more intensive use of digital technologies of Industry 4.0 in the legal regulation of export–import transactions between the parties-residents of the member states of integration associations with the participation of the Russian Federation. The authors substantiate that in modern realities, infectious epidemiological risks are considered not as a force majeure circumstance but as restrictions on the collective work of employees of companies, including foreign trade commercial organizations. The authors argue that this pandemic set of legal procedures for the wider and more intensive use of digital technologies in Industry 4.0 should be enshrined in the provisions of the international convention, which countries participating in integration associations will be able to join, thereby ensuring the entry into force of the relevant regulatory provisions in their jurisdictions. The authors propose several legal procedures for wider and more intensive use of digital technologies of Industry 4.0 in the implementation of foreign economic transactions, which launched and implemented after the announcement of the next pandemic by the World Health Organization. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022.
ABSTRACT
Our world is changing too fast. The distances have been shortened and communication has been increased by the invention and widespread use of the internet. Our habits started to change in many aspects of our lives by the development of digitalization. Especially during the pandemic Covid-19 that has started at the end of 2019, it's observed that mobility of people have been decreased and however, they began to have difficulties in meeting the needs. There has been a great demand for companies that sell over the internet. In particular, the tendencies of people to purchase food items which are their vital need over the internet have increased to a great extent. Looking at the e-commerce market on a sectorial basis during the pandemic, the biggest increase was seen in e-food trade with a growth of approximately 400%. Within that period, it is predicted that our purchasing habits will change rapidly and virtual markets will become much more important in our lives. The delivery of food products to the consumer has always been a big problem. The risk of deterioration of the products in a short time and the physical destruction of the products during their transportation has increased the importance of food logistics. The logistics channels are needed to be developed in order to increase e-food trade. For this reason, contemporary logistics channels have started to be used by integrating developed logistics applications to the traditional logistics channels. It will be much faster and cost-efficient to deliver the products to the consumer with the new logistics channels in the near future. Yield penalty due to transportation will decrease, and since the number of stock brokers is reduced, the consumer will be able to reach the product they demand at a more affordable price from the producer that they have chosen. In the future, physical stores will be replaced by logistics-supported virtual markets. The agriculture and food sector should also start working in order to accommodate quickly to the new trade order.
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Transforming business for sustainable development is the most important challenge facing companies around the world today. The study and dissemination of best practices allow all economic agents from different industries to implement a strategic approach to the management of corporate social activities, as well as to integrate the principles of responsible business management into the system of basic management functions. The technologies of the Fourth Industrial Revolution are rapidly changing the structure of markets and the strategies of companies, but they cannot be considered outside the context of the interaction of business, society, and nature. To implement more sustainable business models and address the main issues of the current decade related to social and environmental risks, an open dialogue between the state, science, and business is necessary. The article shows the features of corporate social responsibility (CSR) in Russia at the present stage, identifies the problems, and prospects for its development. The analysis of trends in the adaptation of Russian realities to the UN concept of sustainable development is carried out. The methodology used in the study contained a set of methods and approaches. In addition to general scientific methods of analysis and synthesis, induction and deduction, system, situational, process, and dynamic approaches were used. As a result of the research, several conclusions were drawn and practical recommendations were proposed to the state and the private sector for organizing and improving the effectiveness of the CSR system following current global trends. Also, the reaction of Russian companies to the Covid-19 pandemic is shown. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022.
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PurposeThis study examines the impact of the COVID-19 pandemic on the well-being and mental health of the seafarers who had to overstay on ships after their contracts expired, identifies topics that affect their mental distress and recommends measures to overcome these.Design/methodology/approachFour research questions about the impacts on the seafarers before and during the COVID-19 pandemic were raised. A literature review and a questionnaire survey were conducted to find answers. Ship officers were asked to assess and fill in the questionnaires for the stranded seafarers onboard in order to collect sufficient samples rapidly for this study.FindingsDespite the guidelines provided by the shipping companies being adequate to protect the seafarers from COVID-19, their mental distress levels have been worsened under the pandemic. The crew change crisis causes anxiety and negatively impacts on their working performance;however, the repatriation expectation of the stranded seafarers is of the highest concern. Three topics were identified as having impacts on the mental health of the stranded seafarers: crew change crisis, low vaccination rate and the lack of key worker recognition. While international stakeholders are advocating for support in these issues, the shipping companies and the seafarers need to do their parts to exacerbate the mental distress, and to survive and thrive beyond the pandemic.Originality/valueThe findings of this study will help the shipping companies to navigate the challenges and the seafarers to overcome issues caused by the COVID-19 pandemic.
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One of the most important sectors of tourism globally is cruise tourism, as is giving a leisure experience to cruisers who are traveling across different destinations. It is also one of the most growing sectors in the tourism industry as is becoming increasingly popular. In this review study, conducted employing thematic analysis and thematic synthesis, the authors aim to approach the COVID-19 crisis era financial investments of dominant cruise companies as a component of global economic growth. Nowadays, the cruise industry operates big cruise ships as is contrary to the cruise industry back in 1960s. This study finds that the biggest cruise companies line up investment plans to renew their cruise fleet with larger, more modern, and environmentally friendly ships, borrowing from favorable financing sources. In other words, the companies are trying to introduce specific strategies to maintain their business growth, by investing in building new vessels with the target of expanding their current fleet with cruise ships with better capacity.
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Living conditions in today's metropolitan cities shorten the time it takes for individuals to do sports. With the Covid-19 pandemic, the use of the home office environment has increased, causing physical activities to be moved to the indoor environment. The home environment has brought people's desire for socialization, physical activity, reduction of anxiety levels, and psychological relaxation to the fore even more. The epidemic, which still continues after the closure of more than two years, has expanded the use of casual clothes in the field of formal wear. Employees at the global level have turned to the use of leisure clothing, which provides more comfort than in the past. Depending on this demand, production has also gained momentum in the global sports ready-to-wear industry. This study aims to determine the ready-made clothing products preferred by individuals who regularly do sports and compare them with global data. The data of the research, in which the descriptive method was selected, was collected from structured questionnaires and literature data. The study group consisted of 208 people who volunteered to participate in the research and whose answers were accepted as valid, among the people who regularly do sports in the four big cities of Turkey (Bursa, Ankara, Istanbul, Izmir). Some of the data were collected over the internet due to the epidemic, and some of the data were collected through face-to-face interviews in gyms. Descriptive statistics applied data show similarities with global-based apparel market data. Individuals do sports to stay physically and mentally healthy and socialize. Indoor sports halls and houses are the most preferred places for sports activities, and the most preferred clothing products are t-shirts, tracksuits, and undershirt/singlet. The findings have been interpreted comparatively with the global data. It has been tried to reveal the future-oriented data for the product groups and market segments of the companies.
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The COVID-19 pandemic caused several short- and mid-term disruptions, to which businesses must adapt. The main goal of this research is to investigate the impact of e-traders response to Covid-19 challenges on online growth. Using existing survey data results linear multiply regression was performed and statistically significant results confirmed that online growth during the Covid-19 emergency was higher in the companies that undertake marketing and delivery adaptation. Further, it was confirmed that e-traders that were selling traditionally and online made higher online growth. Companies with fewer employees were more adaptable to reach higher online growth. Online growth obviously was affected by online sales, and online visits do not statistically significantly influence online growth. The e-traders that believe in the potential for e-commerce in North Macedonia have achieved higher online growth. The timing of the start of the online business does not affect the online growth of e-traders.
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The incomplete resource efficiency of oil and gas (O&G) companies in their imperfect corporate reporting is a relatively new topic gathering researchers' attention because of the increased importance of environmental concerns. The main aim of this article is to aid researchers in understanding the overall trends and shifts in exploring a novel sustainable development method for O&G companies and evaluating it using the example of Lukoil and Gazprom. The study uses a trend analysis method to examine the dynamics of Brent prices to recognise causal connections between the COVID-19 crisis of 2020 and the sanctions crisis of 2022 and their impact on O&G companies' sustainability. Subsequently, the article conducts a quantitative and qualitative study to combine qualitative information on pandemic models with quantitative dynamics of Brent prices and identify their relationship. This article develops a sustainable development method for O&G companies, the novel nature of which consists of digital intellectual monitoring of the sustainability of these companies in public policy practices on Industry 4.0. The article also suggests potential research directions for AI applications to automatically track intelligent data analytic capabilities. The significant findings of this study show that this approach allows for total market coverage and rational decision-making by state regulators and the attentive public. This new method offers a proprietary algorithm and recommendations for energy companies on improving corporate accounting and development of resources policy, assessed using the example of Lukoil and Gazprom.