• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.35-47
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• 2020

An economic downturn can occurred through unexpected events in various fields, such as the subprime mortgage crisis and the outbreak of Coronavirus Disease-2019 (COVID-19). Trade credit is important for small- and medium-sized enterprises (SMEs), especially during a monetary contraction, as it is the last option for firms that lack bank credit. This study aims to determine whether trade credit is profitable for the buyer and supplier firms during and after a financial crisis. We use panel data consisting of all trade credit transactions and financial statements of 5,751 Korean firms during the period 2008-2012. It shows that trade credit is more profitable for both buyers and suppliers in the post-crisis period than during the crisis. Moreover, trade payable is more effective for unconstrained buyers than for constrained buyers. Finally, a mixed strategy is superior to an aggressive or passive strategy of SMEs. The results suggest less profitability of trade credit during a period of contraction and greater sensitivity of the buyer SMEs, emphasizing the idiosyncratic liquidity strategy of each firm. This study can be helpful to develop a strategy of profitable trade credit for SMEs and to establish a policy of managing liquidity for the authority.

• Proceedings of the Korea Inteligent Information System Society Conference
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• 2005.11a
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• pp.461-470
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• 2005

A dynamic supply chain that is composed of many different companies with different rent roles and interests allows free joining and secession. Buyers place orders simultaneously and manufacturers should compete each other for the orders. The purpose of our paper is how to find the optimal formation of supply chain ill a global viewpoint while allowing each member company to pursue his local goal The dynamic nature of supply chain formation causes the variation of cost depending on how many orders a manufacturer would accept. We propose a multi-agent based negotiation protocol that efficiently leads to the formation of optimal supply chain without giving up maximization of the individual profit in multi-agent environment of the make-to-order industry. The goal of the negotiation is to form a supply chain to minimize the overall sum of manufacturers' manufacturing cost, and earliness cost and tardiness cost based on SET model. We compare the negotiation protocol with Branch & Bound method. Finally, the validity and performance of buyer's negotiation has been tested experimentally.

• Journal of Digital Convergence
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• v.20 no.1
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• pp.107-117
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• 2022

This study aims to examine the relationship between the economic, environmental and social activities of sustainable supply chains and the customer satisfaction and customer retention rate, which are the final results in the supplier's operational performance and the buyer's market performance. The survey was conducted on employees in charge of supply chain management, purchasing company, partner company, and logistics management in the company. The final 193 valid data were analyzed to verify the research hypothesis. The results of the study showed that the economic and social activities of the sustainable supply chain had a positive effect on the supplier performance and the purchaser performance, but environmental activities had a negative effect on the supplier performance. In addition, the purchasing company performance has a positive effect on customer satisfaction and customer retention rate. This study provides a theoretical basis for sustainable supply chain activities to affect the operating performance of suppliers and the market performance of buyers, and suggests implications for enhancing the competitiveness of companies through the performance creation process that affects customer performance.

• Journal of Auto-vehicle Safety Association
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• v.10 no.2
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• pp.50-55
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• 2018

Choosing automobile safety options is price-performance matter. The best fit options to buyer who has a certain driving habit are problem of MCDM (Multi Criteria Decision Making) because price of safety option, statistics of relating accident, consequence of accident, and driving habit are the multi criteria to be evaluated. In this paper, PROMETHEE-GAIA methodology is applied for solving this MCDM problem. The result shows that a different driving habit makes different choosing priority of safety options.

• Korean Management Science Review
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• v.28 no.1
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• pp.75-90
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• 2011

In B2B e-Commerce market, many companies used in B2B e-Commerce Guarantee Service. Guarantee service raised the stability of collect debts for seller, and made purchase fund for buyer. In 2001, The first year of implementation, B2B e-Commerce Guarantee Cost was just a 19 billion, but in 2008 was significantly increased a 3 trillion 982 billion. In previous studies, however, there was no research on performance management. This study focus on design of KPI weighting for measuring performance of B2B e-Commerce Guarantee Intermediary Service. Through analysis for 'B2B e-Commerce Guarantee Intermediary Service', the study selected KPI and made the KPI weighing. the process of designing a KPI weighting is 5 phase. This study suggests the standard of measuring performance and guidelines on the focus management of KPI in B2B e-Commerce Guarantee Service.

• International Commerce and Information Review
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• v.18 no.4
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• pp.285-310
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• 2016

The purpose of this study empirically verified impact of strategic and operational integration between first-tier supplier and their supplier and strategic and operational integration between first-tier supplier and their buyer on operation performance. In order to achieve our goal, we tested reliability, validity and path coefficient using structural equation modeling-partial least square (SEM-PLS) over 284 first-tier manufacturing suppliers data that Korea Productivity Center (KPC) surveyed in 2013. This study results indicated that operational integration between first-tier supplier and their supplier or buyer has positive impact on production process flexibility. Meanwhile, strategic integration between first-tier supplier and buyer has positive impact on production flexibility. On the other hand, strategic integration between first-tier supplier and supplier has negative impact on production flexibility. And production process flexibility has positive impact on production flexibility. By empirically testing to departmentalize level and scope of supply chain integration, this study has academic and managerial implications from first-tier perspective on.

• International Commerce and Information Review
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• v.13 no.3
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• pp.459-485
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• 2011

This paper examines the seller's obligation to deliver documents conforming to the terms of the sales contract as set forth in articles 30 and 34 of the CISG. Article 30 obliges the seller to band over documents relating to the goods. This obligation to band over documents is further elaborated in article 34. According to article 34, the documents must be tendered at the time and place, and in the form, required by the contract. If the seller has delivered non-conforming documents before the agreed time, he has the right to remedy the defects if this would not cause the buyer unreasonable inconvenience or expense. However, the buyer can claim any damages suffered despite the seller's remedy. Specific emphasis is placed on the interplay between the CISG and Incoterms. Incoterms contain detailed rules governing the obligations of the seller to provide for documents. Incoterms constitute international trade usage under articles 9(1) and 9(2) CISG and supplement construction of CISG with UCP under L/C transaction. In the event of failure by seller to deliver the necessary documents, the buyer has certain remedies available, such as the right to claim damages, the right to demand specific performance, and the right to repair. Furthermore, the failure to deliver the required documents under contract constitute a fundamental breach of the underlying sales contract as defined by article 25 of the CISG by the seller, and thereby enable the buyer to avoid the contract entirely article 49. However, it is stressed that since one of the main principles of the CISG is the preservation of the contract, the avoidance of the contract should remain a remedy of last resort.

• Journal of Information Technology Services
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• v.4 no.1
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• pp.1-13
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• 2005

Many buying and selling companies have participated in B2B electronic commerce in order to boost sales and cut down purchase prices respectively. There are some studies on buying and selling companies performances of using B2B e-marketplaces which provide electronic B2B transaction services such as finding transaction partners, providing on-line transaction process like auctioneering, etc. This study investigates the critical failure factors against B2B e-marketplace in other words B2B market-maker or B2B intermediary. We proposed 4 hypotheses asserting that 4 critical failure factors make reverse effects on B2B intermediary performances. We adopt the Balanced Score Card (BSC) framework to evaluate B2B intermediary performance. Data were collected from 46 respondents of B2B intermediaries in Korea. Analyses showed that traditional off-line B2B practices like refunding to buyer or transactions without legal documents and low quality of product information and catalog are critical failure factors against B2B intermediary performance.

• International Commerce and Information Review
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• v.9 no.1
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• pp.119-148
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• 2007

The purpose of this research is to study whether environments of participating firms of electronic marketplace(e-MP) have an influence on usage factors which are supplying from e-MP and usage factors affect usage performances. Based on the existing researches we found variables and executed a empirical study of environment-usage-performance model. Through this research we suggested useful factors for the performance of trade enterprises. Usage factors of e-MP will overcome geographical limitation and acquire new sales areas and simultaneously widen the relationships of global enterprises. Those firms could be accessible into global market promptly. To enhance usages of e-MP, service quality which can satisfy both buyer and seller at the same time should be strengtened. Finally, the usage of e-trade information should also heighten through usage factors.

• The Journal of Information Systems
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• v.16 no.4
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• pp.33-49
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• 2007

The purpose of this study is to identify the interorganizational factors that influence both the supplier-buyer's EDI utilization and the business performance in domestic retail industry. In terms of successful supply chain implementation and operation, we deduced the structural factors in the context of the interorganizational characteristics between mass merchandisers and vendors. This study therefore focused on suggesting the ways of managing the partnership in supply chain and conceptualizing the big picture of EDI development model in the scope of a retailer's IT strategy. This paper implicates that it is important to leverage the level of organizational capabilities for the success of supply chain adoption and operation. In the stream of SCM initiatives from the manufacturing industry, retailers should concentrate on improving the interorganizational environment and implementing the effective information technology for supporting business strategy.