Temporal aggregation and the production smoothing model: Evidence from electronic parts and components manufacturing in Taiwan

研究成果: 書貢獻/報告類型會議論文篇章同行評審

摘要

To understand the inventory behaviors of manufacturers, production smoothing is one of the most discussed theoretical models from the perspective of macroeconomics or an individual firm. The basic motive of production smoothing is that companies can increase or decrease their finished goods inventories to allow production that is smoother than sales [1]. Hence, the production-smoothing model (PSM) of inventories depends on a convex short-run cost function and adjustment costs that induce firms to maintain inventories for dampening the effects of demand fluctuations [2]. In other words, production has to be less volatile than sales in PSM. The above hypothesis is reasonable because it's a common scene in manufacturing. Meanwhile, inventories will most usually serve as production smoother if adjusting production is costly in comparison with the costs of keeping inventories [3]. Based on the above framework, researchers have developed various formulations of PSM, which have been empirically implemented to different manufacturing sectors. However, the applications of PSM remain debatable despite the intuitive appeal of PSM. Previous empirical studies have shown mixed results regarding the validation of PSM, and Ghali [4] has shown that we should expect to see production smoothing for only a subset of manufacturing industries. He also claims that unless one confines the analysis solely to data on industries for which the PSM should a priori be applicable, the percentage of cases where smoothing is observed is irrelevant. Hence, it is important to verify different formations of PSM and to extend the empirical study of PSM to other key industries.

原文???core.languages.en_GB???
主出版物標題Advances in Industrial Engineering and Operations Research
頁面83-94
頁數12
DOIs
出版狀態已出版 - 2008
事件International Multi-Conference of Engineers and Computer Scientists, IMECS 2007 - Hong Kong, Hong Kong
持續時間: 21 3月 200723 3月 2007

出版系列

名字Lecture Notes in Electrical Engineering
5 LNEE
ISSN(列印)1876-1100
ISSN(電子)1876-1119

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???event.eventtypes.event.conference???International Multi-Conference of Engineers and Computer Scientists, IMECS 2007
國家/地區Hong Kong
城市Hong Kong
期間21/03/0723/03/07

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