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The authors find that raw materials inventories in the manufacturing sector in the 1970s and 1980s were two to three times higher in developing countries than in the United States, despite the fact that in most developing countries real interest rates were at least twice as high. Those significantly high levels of inventories are a burden and an obstacle to country competitiveness and need to be addressed. Poor infrastructure and ineffective regulation, as well as deficiencies in market development, rather than the traditional factors used in inventory models (such as interest rates and uncertainty), are the main determinants and explain these differences. Cross-country estimations show that a one standard deviation worsening of infrastructure increases raw materials inventories by 11 percent to 37 percent, and a one standard deviation worsening of markets increases raw materials inventories by 18 percent to 37 percent. These findings are robust across a number of different proxies and specifications, including an industry-level specification that controls for fixed country effects.
Many corporate managers struggle to see the relevance of accounting in their everyday responsibilities. Weygandt shows them how managerial accounting information fits in the larger context of business so they are better able to understand the important concepts. The new Do It! feature reinforces the basics by providing quick-hitting examples of brief exercises. The chapters also incorporate the All About You (AAY) feature as well as the Accounting Across the Organization (AAO) boxes that highlight the impact of accounting concepts. With these features, readers will have numerous opportunities to think about what they have just read and then apply that knowledge to sample problems.
It might be thought that these new management techniques require the high levels of education and training found in the Japanese labour force. But this book - based upon studies of firms implementing these new management techniques in a range of developing countries in Asia, Latin America and sub-Saharan Africa (as well as the UK and the USA) - shows that considerable gains can be achieved even in low-income countries with poor levels of human resource development. These management techniques improve the performance both of the implementing firms and the overall economy.
Good management is a precious commodity in the corporate world. Guide to Management Ideas and Gurus is a straight-forward manual on the most innovative management ideas and the management gurus who developed them. The earlier edition, Guide to Management Ideas, presented the most significant ideas that continue to underpin business management. This new book builds on those ideas and adds detailed biographies of the people who came up with them-the most influential business thinkers of the past and present. Topics covered include: Active Inertia, Disruptive Technology, Genchi Genbutsu (Japanese for "Go and See for Yourself"), The Halo Effect, The Long Tail, Skunkworks, Tipping Point, Triple Bottom Line, and more. The management gurus covered include: Dale Carnegie, Jim Collins, Stephen Covey, Peter Drucker, Philip Kotler, Michael Porter, Tom Peters, and many others.
While Lean practices have been successfully implemented into the process industry with excellent results for over 20 years (including the author‘s own award winning example at Exxon Chemical), that industry has been especially slow in adopting Lean. Part of the problem is that the process industry needs its own version of Lean. The larger part of t
An increasingly global business landscape means that even the smallest of companies must contend with a growing base of international suppliers and customers. With that comes myriad technical, organizational and cultural changes that challenge traditional management practices. Regardless of the means taken to address these challenges, all companies will eventually have to synchronize the flow of their products, information and funds. This book focuses on concepts, principles and real-life experiences which improve understanding of the Supply Chain Management (SCM). Available information has been analyzed and synthesized across many disciplines. The book is designed to contribute to the existing body of literature available on supply chain management. This work, which is replete with new concepts and practices, will commend itself to all categories of readers, particularly academicians, researchers and students of management, economics and commerce.
Authored by a team of experts, the new edition of this bestseller presents practical techniques for managing inventory and production throughout supply chains. It covers the current context of inventory and production management, replenishment systems for managing individual inventories within a firm, managing inventory in multiple locations and firms, and production management. The book presents sophisticated concepts and solutions with an eye towards today’s economy of global demand, cost-saving, and rapid cycles. It explains how to decrease working capital and how to deal with coordinating chains across boundaries.
Draws conclusions for the future of the industry in the USA.