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Role of IIoT as New Business Model Innovation in the Manufacturing Industry
No full textInternational audienceThe manufacturing Industry in Europe plays a significant role in economic growth and development. Given the increased role of technology in this sector, the Industrial Internet of Things (IIoT) is one of the technological advancements that improve the Business Model (BM) efficacy in various manufacturing industries. However, research into the role of IIoT as a BM in the manufacturing industry is limited despite its contribution to the success and performance of the firms. Therefore, this study explores the role that IIoT plays as a BM in various manufacturing industries. A survey was conducted utilizing open-ended questionnaires across 60 manufacturing firms in Europe including automotive suppliers, information and communication, machine and plant engineering, electrical engineering, and medical engineering. The findings indicate that IIoT as a BM has different levels of contribution across the manufacturing industry with glaring variations in terms of performance between information and communication firms as well as automotive. This study can act as a guideline for further research on the complex relationship between IIoT as a BM and firms’ performance to influence decision-making processes within the manufacturing industry. Given that this is a pre-study, the limitations, and recommendations for future research are highlighted
Simultaneous Pickup-and-Delivery Production-Routing Problem in closed-loop supply chain with remanufacturing and disassembly consideration
No full textInternational audienceIn a context of Closed-Loop Supply Chain, Production-Routing Problem with Pickup and Delivery is presented. In its basic form, Production-Routing Problem (PRP) attempts to solve jointly Dynamical Lot-Sizing and Inventory-Routing Problems. In this paper, a novel PRP model seeking to minimize the total cost of manufacturing, remanufacturing, disassembly, inventory, and routing by taking into account the remanufacturing and disassembly processes of End-of-Life returned products is provided. Novel hybrid heuristics based on Two-Phase Iterative and Relax-and-Fix heuristics were developed and outperform Branch-and-Cut algorithm for large size instances with a small vehicle capacity. Main insights derived from sensitivity analyses are (i) managers can use the model to trade off the cost saving resulting from the integration of forward and reverse flows, on the one hand, and any additional cost incurred by the organizational changes related to the integration, on the other hand, (ii) a high level of remanufacturing rate for returned products is not necessarily profitable, and managers should develop a return policy that leads to the appropriate level of remanufacturing rate, and (iii) investing in expanding the remanufacturing or the disassembly capacities can significantly reduce the total cost until a threshold level, beyond which any further investment is not beneficial
All that glitters is not gold! Job insecurity and well-being in STEM research fellows: a latent profile analysis
No full textInternational audienceJob insecurity is now one of the major stressors affecting well-being at work. In academia, researchers appear to be in the most precarious position. To explore the relationship between job insecurity and well-being at work, we analyzed a sample of research fellows belonging to STEM disciplines in Italy. Using a latent profile approach, we identified three “hidden” subgroups: “Safe & Sound”; “Safe not so Sound” and “Neither Safe or Sound.” Compared to previous studies, our results show that even within a population of STEM researchers that tends to have good levels of employability and mobility, there are subgroups of people characterized by greater job insecurity and low work commitment, who suffer from emotional exhaustion and cynicism at work level, i.e., more exposed to the risk of burnout
A Dynamic Stochastic Integrated Climate–Economic Spatiotemporal Model for Agricultural Insurance Products
No full textInternational audienceWe propose a new methodology for area yield distribution modeling. We explore a variety of new hybrid data emulators for spatialtemporal statistical modeling of agricultural crop yields. The regression models explored leverage from a combination of model-generated and observed features incorporating climate/weather variables relating to temperature and precipitation over space and time and agricultural variables for farms such as crop allocations, crop types, land use, and crop rotation. This provides the modeling framework to achieve a hierarchical decomposition of the yield distribution at multiple spatial scales over time, allowing us to study both county- and individual farm-level information with suitably selected weighting functions that take into account farm size and crop type. A core component of our model framework is the climate model component that involves a spatialtemporal local approximate seasonal autoregressive integrated moving average Gaussian process (La-SARIMA-GP) model that is suitable for accurately studying local monthly temperatures and rainfalls. Upon construction of the crop yield model, we demonstrate that for practitioners, there is a clear incentive to consider such a model because it accommodates apportioning of the county yield information to the farms level. This is of significance for both individual and index-based agricultural crop insurance product design and for farm risk management. We demonstrate an application of our model in the insurance context of crop insurance risk pooling and insurance policy rating where we investigate the impact of different temporal and spatial interpolation methods on insurance loss ratios using a rating game
Value Creation Reflecting CVC Strategic Orientations in Internet Platform Business Ecosystems: The Case of Tencent
No full textInternational audienceThrough establishing ecosystems around core technologies or products and fostering growth through investments in startups, internet platform companies make substantial contributions to the global economy. These investments often involve corporate venture capital (CVC) initiatives that support value creation. Firms must, therefore, account for the objectives of these initiatives, which aim to ensure value creation for business ecosystems, particularly in emerging markets such as China. This study presents a product-platform-ecosystem model derived from a case study of Tencent, a leading Chinese internet platform company. It analyzes seven strategic objectives of Tencent's venture capital activities that directly influence value creation in its business ecosystem. The analysis reveals how the strategic objectives underpinning CVC activities contribute to the value creation of platform ecosystems. The proposed value creation paradigm for internet platform ecosystems provides new insights into this rapidly growing market and offers guidelines for business managers and policymakers
Forecasting the price of oil: A cautionary note
No full textInternational audienceWe study the out-of-sample predictability of monthly crude oil prices using forecast combinations constructed from several individual predictor forecasts. Our empirical results indicate that combination forecasts of monthly average oil prices are more accurate than the no-change forecast with statistically significant reductions in mean square forecast errors (MSFE) and significant directional accuracy at every horizon up to 24 months, consistent with earlier evidence that forecast combinations greatly enhance the forecastability of oil prices. In contrast, we find no significant MSFE reductions or directional accuracy for forecasts of end-of-month oil prices at almost all horizons. Furthermore, we document that end-of-month forecasts when used to guide investment and hedging decisions of investors, statistically, do not deliver superior economic value to investors. Overall, the implication of our results is that the statistical and economic significance of forecasts of oil prices is heavily influenced by the construction of the underlying oil price series and provide a cautionary note on which oil price series to use in forecasting
Flight to cryptos: Evidence on the use of cryptocurrencies in times of geopolitical tensions
No full textInternational audienceThis paper examines trading activity in cryptocurrencies in times of geopolitical crises. Cryptocurrencies represent speculative assets as well as payment methods. This combination of features is not present in securities like stocks and bonds. The empirical analysis is based on a sample of 93 events associated to potential limitations of a fiat currency circulation and considers five cryptos (Bitcoin, Ether, Ripple, Dash, and Tether). We find that trading in cryptocurrencies increases with events of geopolitical tensions. The increase in cryptocurrencies trading in times of crises can be motivated by different explanations (e.g., protecting savings as the domestic currency devaluates, making payments as the domestic financial system is no longer available, avoiding sanctions) which are difficult to disentangle. A more specific analysis concerning the EU sanctions established in 2022 on Russia shows that crypto trading slows down when crypto-related services (wallet, account or custody services) are explicitly included in EU financial sanctions packages. A warning about data limitations: the data set only includes trading activities conducted on centralized exchanges (CEXs) and does not include transactions conducted on decentralized exchanges (DEXs). Sanctions are supposed to be more effective on CEXs where the platform acts as a custodian for trader's asset. We also examine trading activity from the Ukranian Hrvynia to cryptocurrencies and find a strong increase in outflow from Hrvynia since the beginning of the conflict. This finding – which is not affected by donations of cryptos received by Ukraine from abroad – is consistent with the hypothesis that Ukrainians increasingly exchanged their domestic currency for cryptocurrencies
What induces corporations to engage in controversial marketing and environmental practices? A linguistic perspective
No full textInternational audiencePurpose Linguists classify the world’s languages into two types: futured and futureless. Futured languages (e.g. French) require speakers to grammatically mark future events, a construction that is optional in futureless languages such as German. This treatise examines whether the grammatical structure of the predominant language in a given country explains firms’ propensity to engage in controversial marketing and environmental management practices. This is expected to happen because a speaker’s future time perspective and temporal discounting vary depending on the type of language used. Design/methodology/approach The sample period for this research was from 2001 to 2020. The sample of the study consists of 5,275 firms representing 47 countries. The sample is comprised of firms from 29 countries where the predominant language is a strong future time reference (FTR) language and 18 countries with a weak-FTR language. The maximum number of firm-country-year observations of the study was 39,956. This study employed multi-level mixed effects modelling as well as other relevant estimation techniques such as random effect panel regression, ordinary least square regression and two-stage least square regression. Findings This research empirically demonstrates that firms based in countries where the predominant language requires speakers to grammatically differentiate between the present and the future – known as strong-FTR or futured languages – engage more often in controversial marketing- and environment-related practices than those located in countries where the predominant language does not necessarily require grammatical differentiation between the present and the future (known as weak-FTR or futureless languages). Practical implications The findings are important for managers of firms with foreign subsidiary operations: top management teams of such firms need to be aware that their foreign subsidiaries’ propensity to engage in controversial marketing and environmental management practices varies depending on the predominant language those subsidiaries use. Also, firms located in countries with weak-FTR languages need to be more rigorous in their selection process when considering forming a joint venture or acquiring a firm in countries with strong-FTR languages. Originality/value The current research enriches the burgeoning body of literature on the effect of language on corporate decision-making. It extends the body of knowledge on the impact of language structure on firms’ inclination to engage in controversial marketing and environmental management practices
Logistics outsourcing strategy with online freight platforms
No full textInternational audienceOnline Freight Platforms (OFPs) are emerging and developing rapidly based on the Internet of Things and big data technologies. They provide professional logistics services by aggregating the scattered transportation capabilities of individual truck drivers. OFPs have become increasingly popular compared to Traditional Logistics Service Providers (TLSPs), and OFPs have integrated more than 20% of the truck drivers in China. In this paper, we study a manufacturer’s production, distribution, and transportation of a product in bulk to a downstream firm via two transportation channels: TLSP and OFP. The two channels offer different operational modes, service levels, and contract prices. We develop a game-theoretical model to analyze the strategic interactions among the manufacturer, transportation service provider, and downstream firm. Our study highlights the implications for the manufacturer’s logistics outsourcing strategy with OFP and TLSP operations. We find that when an OFP is available, differences in transportation service levels and prices significantly affect the equilibrium decisions of the manufacturer and TLSP. Surprisingly, the emergence of OFPs does not necessarily threaten TLSP operations. This study provides guidance to manufacturers about their selection of shipping outsourcing strategies and new guidance for TLSP operations considering the emergence of OFPs
