Fair East Publishers: E-Journals
Not a member yet
1902 research outputs found
Sort by
Health, safety, and environmental (HSE) standards in industrial operations: A comprehensive review
Get PDFHealth, Safety, and Environmental (HSE) standards are indispensable in industrial operations, safeguarding workers, protecting the environment, and ensuring operational efficiency. This paper comprehensively reviews HSE standards, focusing on their historical evolution, key components, implementation challenges, and future directions. The historical evolution section traces the development of HSE standards, from early regulatory responses to industrial hazards to establishing integrated frameworks encompassing health, safety, and environmental considerations. Key components of HSE standards include health standards addressing occupational health risks, safety protocols emphasizing accident prevention and emergency response, and environmental standards regulating pollution control and waste management. Integrated HSE management systems promote synergy across these domains, enhancing operational resilience. Challenges in implementing HSE standards are multifaceted, ranging from regulatory compliance issues and technological barriers to organizational cultural and economic constraints. Overcoming these challenges requires concerted efforts to enhance regulatory frameworks, adopt innovative technologies, foster a safety culture, and balance economic considerations with HSE commitments. Future directions in HSE practices emphasize AI, IoT, and digitalization innovations to enhance real-time monitoring and predictive capabilities. Policy recommendations focus on strengthening regulatory frameworks and promoting proactive approaches to HSE governance. Organizational strategies highlight the role of leadership, employee engagement, and continuous improvement in fostering a culture of safety and environmental stewardship. In conclusion, advancing HSE standards is crucial for promoting sustainable industrial practices and ensuring the well-being of workers and the environment. Embracing these standards mitigates risks and enhances operational efficiency and corporate responsibility in a rapidly evolving global landscape.
Keywords: HSE Standards, Occupational Health, Safety Protocols, Environmental Protection, Regulatory Compliance
Skill development for the future supply chain workforce: Identifying key areas
Get PDFThis review paper examines skill development for the future supply chain workforce, emphasizing the importance of identifying key areas and implementing effective strategies. The evolving supply chain landscape, influenced by technological advancements, globalization, and changing consumer demands, necessitates a proactive approach to talent development. Key skill areas identified include technical skills (e.g., data analytics, automation proficiency), soft skills (e.g., adaptability, critical thinking), and domain-specific knowledge (e.g., sustainability practices, regulatory compliance). Strategies for skill development encompass experiential learning, online platforms, and collaborative partnerships. The paper highlights the role of employers, educational institutions, and policymakers in promoting continuous learning and upskilling. A forward-looking outlook predicts further evolution in supply chain roles, emphasizing the need for a competent and agile workforce. Stakeholders are urged to prioritize investment in skill development initiatives to ensure industry competitiveness and resilience.
Keywords: Skill Development, Supply Chain Workforce, Future Trends, Technical Skills, Soft Skills, Domain-Specific Knowledge
Impact of effective schedule management on high-rise building projects
Get PDFEffective schedule management is a critical factor in the successful execution of high-rise building projects. This paper explores the impact of robust schedule management practices on project performance, highlighting the benefits, challenges, and strategies for optimizing timelines. High-rise construction presents unique complexities, including coordination of multiple trades, strict safety regulations, and logistical challenges related to vertical construction. Utilizing advanced scheduling methodologies such as Critical Chain Project Management (CCPM) and Building Information Modeling (BIM), combined with traditional techniques like the Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT), can significantly enhance project efficiency. The integration of these methodologies facilitates better resource allocation, reduces delays, and improves overall project outcomes. The study also addresses the role of technology, including project management software like Primavera P6, in enhancing schedule accuracy and reliability. Additionally, it examines the critical role of project managers in orchestrating these activities and emphasizes the importance of effective communication and risk management. This comprehensive review provides insights into the key factors that contribute to successful schedule management, offering recommendations for future research and practice to further advance the field.
Keywords: Building Information Modeling (BIM), Critical Chain Project Management (CCPM), High-Rise Building Projects, Project Performance Optimization, Schedule Management
Addressing challenges in customer relations management for creative industries: Innovative solutions and strategies
Get PDFThis review paper explores the critical challenges and innovative solutions in Customer Relations Management (CRM) within the creative industries. The paper begins with an overview of CRM's significance in these dynamic sectors, highlighting the unique characteristics and inherent difficulties, such as maintaining customer loyalty, managing diverse client expectations, and adapting to rapid trends. Technological advancements, including augmented reality (AR), virtual reality (VR), and blockchain technology, are examined as potential game-changers for enhancing CRM practices. The paper also delves into creative engagement strategies and collaborative approaches to strengthen client relationships. Furthermore, it provides a strategic framework for effective CRM, emphasizing the importance of a customer-centric culture, aligning CRM with business strategy, and utilizing key performance indicators (KPIs) for continuous evaluation. Future trends and practical recommendations for practitioners are presented to guide improving CRM practices, ensuring sustained success and competitive advantage in the creative industries. This comprehensive analysis underscores the necessity of innovative CRM solutions to address clients' evolving needs and expectations in these fields.
Keywords: Customer Relations Management (CRM), Creative Industries, Augmented Reality (AR), Virtual Reality (VR), Blockchain Technology, Customer-Centric Culture
Impact of exchange rate on economic growth in Nigeria
Get PDFThis study examined the effect of exchange rate dynamics on economic growth in Nigeria from 1985 to 2021. The study utilized secondary data sources from the World Development Indicators (WDI) and the Central Bank of Nigeria (CBN) Statistical Bulletin. It employed real gross domestic product as a measure of economic growth. In addition to the official exchange rate as a proxy for exchange rate dynamics, the study integrated other domestic factors that can affect economic growth, such as trade openness and external reserves. The econometric techniques employed in the study were unit root tests, cointegration, and autoregressive distributed lag (ARDL)/bound techniques. Following the outcome of the bound test, it was reported that a long-run relationship exists between economic growth, exchange rate, trade openness, and external reserves. The long-run ARDL results reveal that the exchange rate had a positive and statistically significant effect on real GDP in Nigeria, with a unit increase in the exchange rate raising the real GDP by 0.3986 units in the long run; trade openness had a positive and not statistically significant impact on real GDP in Nigeria, suggesting that a unit increase in trade openness increases real GDP by 0.0025 units in the long run; and external reserves had a positive and statistically significant impact on real GDP in Nigeria, indicating that a unit increase in external reserves increases real GDP by 0.4007 units in the long run. Based on the results, the study recommends that the government should develop policies that stabilize the exchange rate. This could involve enhancing foreign exchange reserves management, improving the transparency and predictability of foreign exchange interventions, and possibly considering a more flexible exchange rate regime that can adapt to external shocks while maintaining stability. Policies should focus on gradually opening up the economy to international trade through strategic trade agreements that protect key domestic industries while promoting sectors where Nigeria has a competitive advantage. This approach will help mitigate any negative short-term impacts while capitalizing on long-term benefits.
Keywords: Exchange Rate, Trade Openness, External Reserves and Real Gross Domestic Product
ANALYSIS OF INTEREST RATE SPREAD ON FINANCIAL RESILIENCE OF QUOTED BANKS IN NIGERIA
Get PDFThis paper examined the effect of interest rate spread (IRS) on financial resilience of quoted Nigerian banks from 2007 to 2021. Specifically, the paper examined the effect of deposit rate, lending rate, and interest rate differential on financial resilience of quoted Nigerian banks. The paper collected data from the CBN bulletin (2021) and Security Exchange Commission (SEC) annual report (2021) and the World Bank data base (2021). The study covered all the twenty one (21) commercial banks quoted in the Nigerian exchange group as of 31st December, 2021 using the census sampling approach. The study reported that, deposit (savings) rate/cost has a positive (coef=0.056833) insignificant (p-value=0.5327.5%) effect on financial resilience (bank z-score) of quoted banks in Nigeria. By extension, deposit (savings) rate/cost has a minimal effect on banks’ financial resilience. However, lending (borrowing) rate/cost interest rate differential (prime lending/borrowing rate/cost less savings/deposit rate/cost) exerted negative (coef= -0.527024&coef= -0.160001 respectively) significant (p-value=0.0001<5% &p-value=0.0194<5%) effect on financial resilience (bank z-score) of quoted banks in Nigeria.Hence, the paper concludes that, high lending rate and interest rate differential reduce financial resilience of quoted Nigerian banks. As such, the study submits that, the apex banks must ensure that, the rising lending rate should be discouraged. This if not cautioned; it has the capacity to reduce the productive capacity of the private sector. Again, to encourage more depositors to invest their depositors’ funds, the ape banks should raise the deposit rate. Lastly, the Nigerian banks are adjourning to keep their interest rate differentials relatively low.
Keywords: Analysis, Interest Rate Spread, Deposit Rate, Lending Rate, And Interest Rate Differential, Financial Resilience Quoted Banks
FINTECH, TAXATION, AND REGULATORY COMPLIANCE: NAVIGATING THE NEW FINANCIAL LANDSCAPE
Get PDFThe emergence of financial technology (Fintech) has revolutionized the global financial landscape, offering innovative solutions that challenge traditional banking systems and investment practices. This review explores the intersection of Fintech, taxation, and regulatory compliance, highlighting the complexities and opportunities within this dynamic ecosystem. Fintech encompasses a wide range of technologies, including blockchain, artificial intelligence, and mobile payment systems, which have streamlined financial services and expanded access to capital markets. However, this rapid evolution poses significant challenges for taxation and regulatory frameworks. Traditional tax laws struggle to keep pace with the speed and complexity of digital transactions, leading to uncertainties in tax treatment and enforcement. Navigating the tax implications of Fintech requires a nuanced understanding of digital assets, decentralized finance (DeFi) platforms, and cross-border transactions. Tax authorities worldwide are grappling with these challenges, seeking to balance innovation and compliance while ensuring a fair and transparent tax regime. The review examines various approaches adopted by governments and regulatory bodies to address Fintech taxation, including legislative reforms, international cooperation, and the use of advanced data analytics. Furthermore, regulatory compliance remains a critical concern for Fintech firms, as they must navigate a labyrinth of rules and standards across jurisdictions. Compliance requirements vary widely, ranging from anti-money laundering (AML) regulations to data protection laws, presenting operational and legal challenges for market participants. The review discusses strategies for achieving regulatory compliance in the Fintech sector, emphasizing the importance of proactive risk management, regulatory engagement, and technological solutions such as RegTech. Despite these challenges, the convergence of Fintech, taxation, and regulatory compliance offers immense opportunities for innovation and growth. By embracing digital transformation and adopting agile regulatory frameworks, governments and businesses can unlock the full potential of Fintech while safeguarding financial stability and integrity. This review provides insights into the evolving landscape of Fintech taxation and regulatory compliance, highlighting key trends, challenges, and best practices for navigating this new frontier in finance.
Keywords: Fintech, Taxation, Financial, Technology, Review
THE ROLE OF AI IN FINANCIAL MARKET DEVELOPMENT: ENHANCING EFFICIENCY AND ACCESSIBILITY IN EMERGING ECONOMIES
Get PDFThe integration of Artificial Intelligence (AI) within financial markets has become increasingly pivotal, particularly in emerging economies where efficiency and accessibility remain significant challenges. This abstract explores how AI technologies are reshaping financial market development, with a specific focus on enhancing efficiency and accessibility in emerging economies. AI facilitates automation of routine tasks, predictive modeling, and robust risk management, thereby streamlining operations and reducing costs. Moreover, AI-driven solutions democratize financial services, offering personalized advice and expanding financial inclusion initiatives. Despite its transformative potential, challenges such as data privacy concerns, regulatory barriers, and technological infrastructure limitations persist. By examining successful AI implementations and case studies, this review underscores the importance of collaborative efforts between public and private sectors to overcome these challenges. Looking ahead, the abstract emphasizes the need for policymakers to develop conducive regulatory frameworks and encourages stakeholders to embrace AI technologies for sustainable financial market development in emerging economies.
Keywords: AI, Financial Market Development, Efficiency, Accessibility, Emerging Economies, Automation
Advanced financial modeling techniques for reducing inventory costs: A review of strategies and their effectiveness in manufacturing
Get PDFThis study investigates the effectiveness of advanced financial modeling techniques in reducing inventory costs within the manufacturing sector, with a focus on the integration of predictive analytics, artificial intelligence (AI), and machine learning. Employing a systematic literature review and content analysis, the research scrutinizes academic journals, conference proceedings, and industry reports published between 2015 and 2024. The methodology hinges on predefined inclusion and exclusion criteria to ensure the relevance and quality of the selected literature, followed by a thematic analysis to distill key insights. Key findings reveal that advanced financial modeling significantly enhances demand forecasting accuracy, thereby optimizing inventory levels and reducing associated costs. The integration of AI and machine learning technologies not only streamlines inventory management processes but also enables manufacturers to adapt swiftly to market fluctuations, thus minimizing waste and improving operational efficiency. Despite the evident benefits, challenges such as data quality, technological integration, and ethical considerations in AI implementation were identified. The study recommends that manufacturers prioritize the adoption of these advanced models, invest in relevant technologies, and foster a culture of continuous learning and adaptation. Future research directions include exploring the scalability of these models for SMEs, assessing the long-term sustainability of cost reductions, and investigating the potential of emerging technologies like blockchain and IoT in inventory management. Finally, the strategic implementation of advanced financial modeling techniques offers a pathway for manufacturers to enhance competitiveness, achieve cost efficiencies, and navigate the complexities of the digital era in inventory management.
Keywords: Advanced Financial Modeling, Inventory Cost Reduction, Predictive Analytics, Manufacturing Sector
Technological innovations in accounting for food supply chain management
Get PDFThe food supply chain management sector has undergone significant transformations in recent years, largely driven by technological innovations aimed at enhancing efficiency, transparency, and sustainability. This review delves into the burgeoning realm of technological advancements in accounting within the food supply chain management domain. Technological innovations such as blockchain, Internet of Things (IoT), artificial intelligence (AI), and big data analytics have revolutionized traditional accounting practices in the food supply chain. Blockchain technology, for instance, has emerged as a promising solution for enhancing transparency and traceability throughout the supply chain by providing an immutable ledger of transactions. This ensures the authenticity of data related to food products, from origin to consumption, thus mitigating risks associated with fraud and food safety incidents. Moreover, the integration of IoT devices enables real-time monitoring of various parameters such as temperature, humidity, and location, thereby ensuring optimal conditions for food transportation and storage. This not only minimizes wastage but also enhances the overall quality and freshness of food products. Artificial intelligence and machine learning algorithms play a pivotal role in optimizing inventory management and demand forecasting processes. By analyzing vast amounts of historical data and current market trends, these technologies facilitate accurate predictions of consumer demand, thereby reducing stockouts and overstocking scenarios. Furthermore, big data analytics enables stakeholders to derive valuable insights from large datasets generated across the supply chain. These insights aid in identifying inefficiencies, optimizing resource allocation, and making data-driven decisions to enhance profitability and sustainability. However, despite the numerous benefits offered by technological innovations in accounting for food supply chain management, challenges such as data security, interoperability, and the need for skilled personnel remain significant hurdles to widespread adoption. Addressing these challenges will be crucial in harnessing the full potential of technology to create a more resilient, transparent, and sustainable food supply chain ecosystem. In conclusion, technological innovations in accounting have emerged as key enablers in revolutionizing the food supply chain management landscape. By leveraging blockchain, IoT, AI, and big data analytics, stakeholders can unlock new opportunities for enhancing efficiency, transparency, and sustainability throughout the food supply chain.
Keywords: Accounting, Food, Supply Chain, Management, Technology, Innovation, Review