Returnable transport items (RTIs) are key elements for enabling a smooth flow of goods throughout supply chains. Despite their importance, RTIs can be prone to high loss and breakage rates. Today’s RTI management processes are rather inefficient and are based on estimates about when, where and how RTIs are utilised. This limited visibility inevitably causes the involved parties to feel less responsible for the proper management of RTIs. As a consequence, inefficiencies created by a single party can result in a significant cost burden for the whole supply chain. The goal of this paper is therefore to explore the impact of increased asset visibility on the RTI management process. We describe a solution based on Radio Frequency Identification (RFID) technology and quantify its financial impact from each individual stakeholder’s perspective. Our findings suggest that RFID can provide a powerful means to counter inefficiencies in the RTI management process and improve the overall effectiveness of the RTI supply chain network.
Purpose – Trade in counterfeit goods is perceived as a substantial threat to various industries. No longer is the emergence of imitation products confined to branded luxury goods and final markets. Counterfeit articles are increasingly finding their way into other sectors, including the fast-moving consumer goods, pharmaceutical, and automotive industries – with, in part, severe negative consequences for consumers, licit manufacturers, and brand owners alike. This paper seeks to shed light on the economic principles of counterfeit trade and the underlying illicit supply chains.
Design/methodology/approach – An extensive literature review was conducted that comprised contributions from different strands of management research.
Findings – Though governments as well as management have clearly identified the problem, very little is known – both in practice and theory – about the mechanisms and structure of the illicit market, the tactics of counterfeit producers, consumer behavior with respect to imitation products and the financial impact on individual companies. The diversity of the counterfeit phenomenon underlines the need for further research in this area and the development of company-specific measures for fighting product piracy.
Research limitations/implications – The clandestine nature of the counterfeit market limits direct accessibility to the phenomenon. Consequently, the existing body of literature does not necessarily cover all aspects of counterfeit activities. The review helps to highlight existing research gaps but may not be able to identify additional aspects of the phenomenon that, thus far, have not been deemed relevant.
Originality/value – The paper critically reviews the current state of research across different management-related disciplines. From an academic perspective it may serve as a starting point for a future research agenda that addresses the current knowledge gaps. From a practitioner's perspective it is helpful for understanding the relevant influence factors and for developing appropriate, state-of-the-art counterstrategies.
Seit der Liberalisierung des Energiemarktes hat der Wettbewerb unter den Energieversorgern (EVU) zugenommen. Um neue Kunden zu gewinnen und bestehende zu halten, müssen diese daher neue Services und Produkte entwickeln, die den Bedürfnissen der Kunden in hohem Masse entsprechen. Ein Online-Kundenportal kann einen solchen Service darstellen, da es zukünftig als zentrale Schnittstelle zum Kunden fungieren wird, wenn der persönliche Kontakt aufgrund eines abnehmenden regionalen Fokus der EVU und dem Wegfall des Zähler-Ablesens vor Ort durch Smart Metering abnimmt. In diesem Beitrag werden die Kriterien, die für die Gestaltung eines solches Portals relevant sind, vorgestellt. Eine Marktübersicht zeigt auf, welche dieser Kriterien bereits umgesetzt werden und wo Verbesserungspotenzials bestehen. Ein spezieller Fokus liegt auf psychologische Konzepte, die den Kunden motivieren, das Portal einerseits regelmässig zu nutzen und andererseits Energie zu sparen. Es zeigt sich, dass gerade in Bezug auf Kriterien zur Veranschaulichung des Energieverbrauches sowie bei der Ausgestaltung von psychologischen Anreizen ein enormes Verbesserungspotenzial vorhanden ist.
In electricity markets, not only does the risk of substantial price variations over time exist, but so does the risk of price variations over space, as prices between locations can differ due to transmission congestion. To manage this risk, Contracts for Difference (CfDs), i.e., forwards on the spread between a particular area price and the (unconstrained) system price, were introduced at the Scandinavian electricity exchange Nord Pool at the end of 2000. We empirically investigate the pricing of these CfDs over the period 2001 through 2006 and find that CfD prices contain significant risk premia. Their sign and magnitude, however, differ substantially between areas and delivery periods, because areas are subject to transmission congestion to a varying extent. While the relation between risk premia and time-to-maturity is not uniform for CfDs, there is a negative relation for implied area and system forwards, which can be explained by the relative hedging demand of market participants. In addition, we find that risk premia of CfDs and implied area forwards vary systematically with the variance and skewness of the underlying spot prices. This confirms both implications of the Bessembinder and Lemmon [Bessembinder, H., Lemmon, M.L., 2002. Equilibrium pricing and optimal hedging in electricity forward markets. Journal of Finance, 57, 1347–1382] model.