Sensors enhance the control of perishable goods. New applications not only help to increase profits but also to reduce greenhouse gas emissions. An abatement cost analysis examines the trade-offs between profit maximization and emission minimization.
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.
A main mechanism behind the change in European and North American societies in the second half of the 20th century is the educational expansion, i.e. the increase in educational opportunities and the higher demand for education. Whereas other abstract social processes like modernization have been widely theorized in social science literature, the educational expansion and its consequences in particular have not been well studied. Therefore the main aim of this compilation is to deal with the question of whether the demands of the educational reforms have been fulfilled and which other consequences the educational expansion has had. This book will focus on consequences of the educational expansion for individuals and their life courses as well as for the social structure and other societal areas such as culture and politics. Aspects that will be analysed in the light of educational expansion include participation in education, educational inequalities, labour market outcomes, educational returns, and gender differences as well as crime, life expectancy, and lifestyles. Countries analysed in the book include West European countries like Germany, France, Italy and Spain, East European countries (Hungary, Poland, and the Czech Republic) as well as the US.
Reducing their energy consumption has become an important
objective for many people. Consumption transparency and timely
feedback are essential to support those who want to adjust their
behavior in order to conserve energy. In this work, we propose an
interactive system that provides instantaneous feedback concerning
the energy usage on household and device level. For that, we
used and extended the capabilities of a smart electricity meter,
built a web-based API to enable interoperability with other applications,
and developed a mobile phone interface that allows users
to monitor, control, and measure the consumption of single appliances.
Our system illustrates a way how usage barriers can be
lowered and how high user involvement can be created. By providing
users the electricity feedback needed – in real-time and on
device level – the system allows for identifying the biggest energy
guzzlers and helps users decrease their energy consumption.
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.