The impact of quality management on inventories in commercial enterprises operating within group purchasing organizations
-
Received July 2, 2019;Accepted August 20, 2019;Published September 9, 2019
- Author(s)
-
DOIhttp://dx.doi.org/10.21511/ppm.17(3).2019.29
-
Article InfoVolume 17 2019, Issue #3, pp. 362-369
- TO CITE АНОТАЦІЯ
-
Cited by3 articlesJournal title: RisksArticle title: Inventory Management in SMEs Operating in Polish Group Purchasing Organizations during the COVID-19 PandemicDOI: 10.3390/risks9040063Volume: 9 / Issue: 4 / First page: 63 / Year: 2021Contributors: Grzegorz Zimon, Vitalina Babenko, Beata Sadowska, Katarzyna Chudy-Laskowska, Blanka GosikJournal title: International Journal of Information Systems and Supply Chain ManagementArticle title: Research on Logistic Warehouse Scheduling Management With IoT and Human-Machine InterfaceDOI: 10.4018/IJISSCM.305846Volume: 15 / Issue: 4 / First page: 1 / Year: 2022Contributors: Lanjing Wang, Alfred Daniel J., Thanjai VadivelJournal title: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICSArticle title: Management Strategies of Working Capital in Polish Services Providing CompaniesDOI: 10.37394/23207.2020.17.24Volume: 17 / Issue: / First page: 225 / Year: 2020Contributors: Grzegorz Zimon
- 1721 Views
-
323 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
Inventory management costs are often high and it is necessary to introduce appropriate methods that cause their optimization. For this purpose, various types of methods supporting logistic processes are introduced. Joint activities within group purchasing organizations are also popular. Companies gain a possibility to reduce costs, in addition, when enterprises introduce appropriate quality management systems, the process of cost optimization and an improvement of inventory management efficiency should be even more visible. The purpose of this article is to analyze the impact of standardized quality management systems on inventory management. The research was conducted on a group of 68 enterprises operating in commercial group purchasing organizations. The enterprises were divided into two groups: into the companies using quality management systems and into those that do not use such systems. The analysis showed that the most frequently standardized quality management systems were used by large enterprises and the results of inventory management efficiency were at a similar level as compared to small units that do not apply quality management systems. The analysis based on selected financial indicators allows concluding that the introduction of quality management systems improves the efficiency of inventory management. The introduction of such systems allowed large enterprises to organize their warehouse management and reduce stocking reserves, which positively influenced the costs of managing them. The research period covers the years 2015–2017.
- Keywords
-
JEL Classification (Paper profile tab)M21, P13, G30
-
References30
-
Tables6
-
Figures1
-
- Figure 1. Functioning of warehouses in a commercial group purchasing organization
-
- Table 1. Average results for the inventory share ratio in the analyzed enterprises
- Table 2. Average results for the inventory turnover ratio in days in the analyzed enterprises
- Table 3. Average results of inventory in the analyzed enterprises
- Table 4. Average results for the financial liquidity ratio in the analyzed enterprises
- Table 5. Average results for the quick ratio in the enterprises analyzed
- Table 6. Values of correlation coefficients for selected ratios
-
- Arya, A., & Mittendorf, B. (2013). Managing strategic inventories via manufacturer-to-consumer rebates. Management Science, 59(4), 813-818.
- Cormier, G., & Gunn, E. A. (1996). On coordinating warehouse sizing, leasing and inventory policy. IIE Transactions, 28(2), 149-154.
- DeHoratius, N., Mersereau, A. J., & Schrage, L. (2008). Retail inventory management when records are inaccurate. Manufacturing & Service Operations Management, 10(2), 257-277.
- Dellana, S., & Kros, J. (2018). ISO 9001 and supply chain quality in the USA. International Journal of Productivity and Performance Management, 67(2), 297-317.
- Fonseca, L., & Domingues, J. P. (2017). ISO 9001: 2015 edition-management, quality and value. International Journal of Quality Research, 11(1), 149-158.
- Heragu, S. S., Du, L., Mantel, R. J., & Schuur, P. C. (2005). Mathematical model for warehouse design and product allocation. International Journal of Production Research, 43(2), 327-338.
- Jovanović, I., Arsić, M., & Nikolić, D. (2018). Entrepreneurial personality traits and SMEs profitability in transition economy. Serbian Journal of Management, 13(1), 89-104.
- Kök, A. G., & Shang, K. H. (2007). Inspection and replenishment policies for systems with inventory record inaccuracy. Manufacturing & Service Operations Management, 9(2), 185-205.
- Li, M., & Wang, Z. (2017). An integrated replenishment and production control policy under inventory inaccuracy and time-delay. Computers and Operations Research, 88, 137-149.
- Marand, A. J., Li, H., & Thorstenson, A. (2018). Joint inventory control and pricing in a service-inventory system. International Journal of Production Economics, 209, 78-91.
- Ming, L., & Zheng, W. (2017). An integrated replenishment and production control policy under inventory inaccuracy and time-delay. Computers and Operations Research, 88, 137-149.
- Moon, I., Dey, K., & Saha, S. (2018). Strategic inventory: Manufacturer vs. retailer investment. Transportation Research Part E: Logistics and Transportation Review, 109, 63-82.
- Murphy, P. R., & Wood, D. F. (2004). Contemporary logistics (8th ed.). Now York: Pearson Education.
- Ng, C., Cheng, T., Kotov, V., & Kovalyov, M. Y. (2009). The EOQ problem with decidable warehouse capacity: Analysis, solution approaches and applications. Discrete Applied Mathematics, 157(8), 1806-1824.
- Parikh, P. J., & Meller, R. D. (2009). Estimating picker blocking in wide-aisle order picking systems. IIE Transactions, 41(3), 232-246.
- Parikh, P. J., & Meller, R. D. (2010). A note on worker blocking in narrow-aisle order picking systems when pick time is non-deterministic. IIE Transactions, 42(6), 392-404.
- Rekik, Y. (2011). Inventory inaccuracies in the wholesale supply chain. International Journal of Production Economics, 133(1), 172-181.
- Rosales, C., Rao, U., & Rogers, D. (2013). Retailer transshipment versus central depot allocation for supply network design. Decision Sciences, 44(2), 329-356.
- Sahin, E., & Dallery, Y. (2009). Assessing the impact of inventory inaccuracies within a newsvendor framework. European Journal of Operational Research, 197(3), 1108-1118.
- Sainathuni, B., Parikh, P. J., Zhang, X., & Kong, N. (2014). The warehouse-inventory-transportation problem for supply chains. European Journal of Operational Research, 237(2), 690-700.
- Sampaio, P., Saraiva, P., & Domingues, P. (2012). Management systems: integration or addition? International Journal of Quality & Reliability Management, 29(4), 402-424.
- Shvartsburg, L., Zaborowski, T., & Cyplik, P. (2017). Situation of costs in the logistic process of enterprises. Logforum, 13(4), 495-506.
- Tang, C. S. (2010). A review of marketing-operations interface models: from co-existence to coordination and collaboration. International Journal of Production Economics, 125(1), 22-40.
- Tompkins, J. A., White, J. A., Bozer, Y. A., & Tanchoco, J. M. A. (2010). Facilities planning. NY: John Wiley and Sons.
- Wyrwa, D., & Ziółkowski, B. (2015). Quality management systems in competitive strategies of polish enterprises. In Production Management and Engineering Sciences – Scientific Publication of the International Conference on Engineering Science and Production Management, ESPM 2015 (pp.327-332).
- Van der Heide, G., Van Foreest, N. D., & Roodbergen, K. J. (2018). Optimizing stock levels for rental systems with a support warehouse and partial backordering. European Journal of Operational Research, 265(1), 107-118.
- Zaramdini, W. (2007). An empirical study of the motives and benefits of ISO 9000 certification: the UAE experience. International Journal of Quality & Reliability Management, 24(5), 472-491.
- Zimon, D. (2015). Impact of the implementation of quality management system on operating cost for small and medium-sized business organizations affiliated to a purchasing group. International Journal for Quality Research, 9(4), 551-564.
- Zimon, G., & Zimon, D. (2019a). An Assessment of the Influence of Nominalized Quality Management Systems on the Level of Receivables in Enterprises Operating in Branch Group Purchasing Organizations. QUALITY-ACCESS TO SUCCESS, 20(169), 47-51.
- Zimon, D., & Zimon, G. (2019b). The Impact of Implementation of Standardized Quality Management Systems on Management of Liabilities in Group Purchasing Organizations. Quality Innovation Prosperity, 23(1), 60-73.
-
The role of total quality management in enhancing the quality of private healthcare services
Problems and Perspectives in Management Volume 18, 2020 Issue #2 pp. 64-78 Views: 2044 Downloads: 2175 TO CITE АНОТАЦІЯThe study aims to explore the role of total quality management (TQM) in enhancing the service quality of the private healthcare sector in the Northern Area of West Bank Palestine. The study involves a questionnaire-based survey, private hospitals, and healthcare centers selected in North West Bank. The administrative employees are the population of the study, 200 employees were selected via stratified sampling method. By using the Structural Equation Modeling (SEM), the findings show that all TQM factors are positively and directly related to each other in the private healthcare sector. There is a positive and direct relationship between four TQM factors (customer satisfaction, employee involvement, continual improvements, and top management commitment) and service quality, while there is a negative direct relationship between processes and service quality. TQM factors (customer satisfaction, employee involvement, continual improvements, processes, and top management commitment) explained 95% of the variance in healthcare service quality (R² = 0.950, P < 0.05). Continual improvements is the main pillar in TQM application in healthcare sector, and it is highly associated with the private healthcare processes (R² = 0.907, P < 0.01), while top management commitment is the most significant factor in improving the service quality. Full understanding and commitment by the managers across all levels and activating the effective communication between employees at all levels in the organization are the key factors of a successful TQM implementation; it helps in strengthening the teamwork efficiency. Top management is required to avoid the monotonic managerial practices, especially in the organizational processes, as it has a negative impact on the private healthcare service quality.
-
Development of the methodology for the comprehensive assessment of banking services quality
Banks and Bank Systems Volume 13, 2018 Issue #1 pp. 37-48 Views: 1854 Downloads: 399 TO CITE АНОТАЦІЯThe crisis in the world financial markets, the capitalization of bank profits, the size of which is insufficient to maintain the existing level of the banking system of Kazakhstan, has actualized the quality problem not only in terms of forming credit portfolios of banks, managing banking risks, but also offering high-quality banking services.
Despite the fact that the banking services quality cannot directly affect the financial sphere, the production sphere, and also affect the sharp decline in the economy, the economic losses from poor banking services can significantly increase, causing significant losses to banks. At the same time, it should be considered that the financial losses of the firms as active participants in financial markets are significant in the amount of losses. Consequently, the banking services quality can cause not directly, but indirectly both the success of the banking business and the possible losses of banks. In order to manage the quality of banking services, it is necessary to have certain methods for analyzing and assessing the quality of banking services. This article attempts to solve this issue.
Using various research methods, based on obtaining real assessments of respondents, the present paper presents a methodology for the comprehensive assessment of banking services quality. The developed mechanism includes consolidation of organizational and methodological and economic and statistical methods of research: a five-step SERVQUAL model, integral and general indices, a multiple queue system, instruments of correlation and regression analysis that determine the level of customer satisfaction and problem characteristics of the quality of services offered. -
Wine purchasing decisions in India from a consumer’s perspective: An analysis of influencing factors on the buying behavior
Anagha Ravikumar , Sushant Malik, Asmita Chitnis
, Dipen Paul
, Dharmesh K. Mishra
doi: http://dx.doi.org/10.21511/im.18(2).2022.11
Innovative Marketing Volume 18, 2022 Issue #2 pp. 120-134 Views: 1461 Downloads: 987 TO CITE АНОТАЦІЯThis paper analyzed the factors affecting consumers’ purchase intentions and decisions while purchasing wine. The study was performed based on the primary data collected with the help of a survey and a structured questionnaire using convenience sampling. A total of 120 respondents above 21 years old across India who were wine consumers and likely to purchase wine were the study population. Exploratory factor analysis, confirmatory factor analysis, descriptive analysis, and cluster analysis were the main methods used to analyze the data. The information gathered was subjected to further quantitative analysis using SPSS. Kaiser-Meyer-Olkin Measure (KMO) of sampling adequacy was 0.759, and Cronbach’s alpha was 0.817 indicating high reliability of the study. Factor analysis brought out six essential factors affecting the wine purchase decisions of Indian consumers. They are as follows: quality concerns, consumption preferences, consumption deterrents, consumption reasons, social factors, and risk factors. Furthermore, the study found that the purchase intentions of Indian wine consumers are affected by the attitude and awareness of consumers. The cluster analysis further helped to divide the Indian wine market into three segments, i.e., regular consumers comprising 44.2%, non-consumers comprising 29.2%, and occasional consumers comprising 26.7%. A few of the key factors influencing wine purchase are attributes and knowledge of the wine ingredients. In addition, friends and family play an important role in wine purchasing decisions.