Browsing by Author "Liang, Liu"
Results Per Page
ItemApplying an EOQ model to reduce an inventory costThis research study applies an EOQ model (Economic Order Quantity) to reduce an inventory cost. The focus ABC Company is a Beer Importer in Thailand. It faced the problem of high inventory cost and lackluster inventory management. The root cause was that the Company had no standardized ordering process, which meant a high cost of carrying excess inventory, or having too little to meet demand. It also meant paying a high storage charge. The EOQ Model was proposed, to make substantial improvements. Historical inventory stock data for years 2014 and 2015 shows that the ABC Company had low stock at the end of 2014, which meant the company was not able to fulfill customer demand. Conversely, it had excess stock at the end of 2015 which increased the carrying cost until the product moved from the warehouse (the internal supply chain) on to customers in the external supply chain. The researchers collected historical data from June 2015 to May 2016 (twelve months) to compute and simulate in the EOQ model, thus identifying the re-order point and safety stock, in order to find the optimal order quantity for inventory. This enabled the identification of appropriate inventory levels and buffer stock until arrival of the next shipment. The driving objective of this research was to gain cost savings through an efficient inventory management system. After simulation with the EOQ model, the result indicates that the ABC Company can accomplish cost savings amounting to 50% of the old annual inventory cost. Therefore, the ABC Company should implement the tested EOQ model and its re-order points, to achieve the ultimate aim of improving customer satisfaction, through buying the optimal order quantity, achieving appropriate inventory levels, and minimizing inventory cost.
ItemCosting a freight forwarder's outsourcing decisionAny international Freight Forwarder in Thailand faces tough competition. Airfreight is needed for some goods. The cost is high, but can be offset by low inventory cost. FF Company, the focus firm, provides airfreight services to manufacturers. To keep prices competitive, FF's total airfreight operation cost has to be contained. This research examined whether to outsource part of its airfreight operation or retain it in-house. The total cost of ownership (TCO) concept is used to evaluate this decision. Service quality had to be maintained, outsourced or not. Three TCO models, one for insourcing and two for outsourcing, compared costs per kilogram, service quality, and pros and cons. The finding were that the operation should be retained in-house, not outsourced.
ItemThe influence of enterprise online information behavior on consumer satisfaction( 2021) Liang, LiuBased on findings from previous studies a model of the influence of enterprise online information behavior on consumer behaviors was formulated, analyzed, and developed using data collected by questionnaire from a sample of 479 consumers in the context of China. Enterprise behavior is represented by three constructs (information disclosure, interaction, and utilization) which influence consumer behaviors related to perceptions of pleasure, control, and attention and in turn consumer satisfaction. Many of the findings related to direct effects that have been reported in previous studies conducted in the context of western societies were confirmed. However, there were new findings related to significant direct, indirect, and total effects on consumer satisfaction due to information disclosure, interaction, and utilization. Apart from the theoretical contribution of the study, especially the analysis of indirect and total effects, there were practical implications. These are discussed with the objective of improving enterprise online behaviors with positive consequences for consumer behaviors and especially for improved consumer satisfaction. Importantly, the study addresses the limited number of previous studies conducted with Chinese consumers in online environments in China.