• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.10 no.16
• /
• pp.143-147
• /
• 1987

Safety stocks constitute one of the major means of dealing with the uncertainties associated with variation in demand and lead time. Adeguate safety facilitate production activities and help to assure customers if good service on the other hand, carrying safety storks ties up working capital on goods that sit idle. The major problem of safety stocks management thus of consists of trying to achieve an optimal balance between the other carrying cost and the costs of stock shortage. Therefore, this study aims to find safety stock level of the fixed reorder quantity system and the fixed reorder cycle system of minimizing total cost when both demand and lead time are variable. (The distribution of demand and lead time is a mere assumption that follows the normal distribution) The results can be summarized as follows. i) Safety factor on the safety stock is determined by carrying cost and the costs of stock shortage: An optimal safety stick=the costs of stork shortage($C_s$) (the carrying cost($C_h$)+the costs of stock storage($C_s$). ii) The safety stock level of the fixed reorder quantity system is ($a{\;}_p\sqrt{L}{\sigma}$) under uncertainties. iii) The safety stock level of the fixed reorder cycle system is ($a{\;}_p\sqrt{R+L{\sigma}}$) under uncertain demand and constant lead time. ($a{\;}_p\sqrt{L{\sigma}_d{\;^2+{\mu}^2L{\sigma}^2}$) under demand and lead time uncertainties.

• Journal of Korea Trade
• /
• v.27 no.1
• /
• pp.19-41
• /
• 2023

Purpose - Conventional supply chains (SCs) must identify facilitating roles, such as port or terminal operators, shipping companies, and freight forwarders in executing the various logistical activities that support the organizational strategies of shippers. Meanwhile, supply chain collaborative practices can engender a willingness to share relevant and mutually helpful information. To this end, this study seeks to identify the impact of supply chain integration (SCI) on information sharing (IS) and the operational performance (OP) of Korea's container-shipping industry from the perspective of social capital. Design/methodology - We established the research model for this study based on previous studies. In administering the survey, we obtained 149 valid responses from employees working in liner-shipping companies and freight forwarders in Korea. With the collected questionnaires, the study's hypotheses were tested using SPSS 26.0 and AMOS 26.0 Findings - The results indicate the existence of a mediated relationship where the impact of SCI on OP is mediated by IS. The effect of external integration (EI) on OP is fully mediated by information quality (IQ) and information-sharing content (ISC). Furthermore, EI, IQ and ISC partially mediate the relationship between internal integration (II) and OP. Originality/value - This study expands SCI contexts, where ISC and IQ respectively serve as bridges between EI and OP which has crucial implications for container-shipping companies in terms of improving their performance.

• Korean Journal of Construction Engineering and Management
• /
• v.21 no.5
• /
• pp.64-73
• /
• 2020

The government announced a plan for fund support to the enterprises with high possibility of recovery and early restructuring for the enterprises with low recovery by objectifying credit assessment system. Such announcement of government could be extended to restructuring risk of middle standing enterprises with low financial soundness by establishing the basis to prepare prompt restructuring by reinforcing the basis for restructuring through capital market. This research analyzed financial soundness based on the financial evaluation of bank by selecting 10 middle standing construction companies which focused on housing business in 2019, based on such analysis result, it was confirmed that there was a high possibility of restructuring risk. This research determined that there would be a decrease in growth rate of construction industry on the whole in 2020 due to fall of economic growth rate and reinforced real estate regulation, accordingly, there's a big possibility for middle standing construction companies with paid-in capital ratio due to its low possibility of maintenance of stable credit rating. This research established KCSI assessment model by utilizing the material of a reliable research institute in order for middle standing construction companies to evade restructuring risk, and indicated risk ratio differentiated per each item through a working-level expert survey. Such research result could suggest credit risk reduction method to middle standing construction company management staffs, and prepare a basis to evade restructuring risk.

• Korean Management Science Review
• /
• v.32 no.1
• /
• pp.113-131
• /
• 2015

We examine the relationship between firms' environmental (E), social (S), and governance (G) factors, with their financial performance in order to provide an empirical rationale for CSV (creating shared value) pursuing both of firms' profitability and CSR (corporate social responsibility). The financial performance is classified into four aspects such as profitability, stability, efficiency, and cash-flow, and each of these aspects is measured by two financial ratios respectively. To measure the firms' ESG performance, we employ the published performance grades by the Korea Corporate Governance Service for a three year span, from 2011 to 2013. Total of eight regression analyses are performed. The results show that firms' non-financial performance in general has statistically significant positive relationships with return on assets, return on net sales, and cash-flow from operating activities ratio, while it has negative relationships with net working capital ratio, asset turnover ratio, and cash-flow from investing activities ratio. It has no significant relationships with debt ratio and equity turnover ratio. The results imply that firms' non-financial performance may have a negative impact on some financial performance such as liquidity and efficiency in a short term, but it would eventually improve the firms' profitability and cash-generating ability, which provides an empirical evidence for the concept of CSV, and motivates the firms to participate in social contribution activities without sacrificing their profitability for their respective sustainablity management.

• Korea Journal of Hospital Management
• /
• v.16 no.4
• /
• pp.1-16
• /
• 2011

The purpose of this study is to examine impacts of servant leadership perception of dental hygienists on organizational commitment, job satisfaction and turnover intention as strong predictors of turnover rate. These data were collected from the structured questionnaire survey, from April 1 through April 30, 2011, to 383 people among those in the field of dental hygiene affairs, working for nine dental hospitals or twenty-four dental clinic under two dental university hospital in capital area. The principal findings of this research are as below; First, servant leadership perception had a significantly positive influence on job satisfaction and organizational commitment. Also servant leadership perception of dental hygienists had a significantly negative influence on turnover intention. Second, job satisfaction and organizational commitment of dental hygienists has a negative influence on turnover intention. Third, servant leadership perception of dental hygienists were revealed as a meaningful effects ones on job satisfaction and organizational commitment, but they didn't have meaningful effect on turnover intention. However, we can understand that servant leadership perception have indirect effect on turnover intention via job satisfaction and organizational commitment. This result indicates that the managers of dental hospital and clinic should perceive that the consistent management effort to improve servant leadership can increase job satisfaction, and finally will increase the organizational commitment that means the loyalty to organization. In short, hospital operators and managers should examine each manager's qualification, type and style of leadership in the hospital organization, and they must develop lasting programs for effective education and training for developing characteristics of leadership are in needed to have managers with appropriate managerial mind to respective post and status.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.2
• /
• pp.135-149
• /
• 2019

Today, a growing number of companies are in trouble because leaders are lack of authentic leadership. Small and midium sized companies have the same issue. To correct the issue, there must be a real change in the relationship between managers and employees of the company as well as outside the company. In 21st century, authentic leadership is required. However, the research about determinants of change supportive behavior is not sufficient. Therefore, the purpose of this study is how manager's transformational leadership and authentic leadership affects change supportive behavior of employees in small and midium sized companies. The study also has to prove the role of positive psychological capital as a parameter. Data were collected from 424 employees working for small and midium sized companies in metropolitan area around Seoul and Gyeonggi. The data were analyzed using statistical package SPSS ver.21.0 and AMOS ver.18.0. Based on the research, First, the transformational leadership does not affect the change supportive behavior. However, authentic leadership affects the change supportive behavior. Also, positive psychological capital playes a role as parameter when transformational and authentic leadership, that are independent variable, affect change supportive behavior. On the other hand, the research shows that authentic leadership has more influence than transformational leadership on positive psychological capital. Transformational leadership without genuine attitude cannot affect change support behavior of employees in small and medium sized companies. Therefore, to affect change supportive behavior of employee, authentic leadership with genuine mind is required. After discussing the conclusions and implications of this study. the direction of the study for the follow - up study was suggested.

• Journal of the Korea Safety Management & Science
• /
• v.15 no.4
• /
• pp.435-448
• /
• 2013

The aim of this study is to investigate and develop the extended models for Economic Cash Amount(ECA), Cash Break Even-Point(BEP), and Cash Flow Statement(CFS) by referencing systematic literature review in the field. The study develops three extended models to determine the optimal cash amount: ECA model with interest opportunity cost, financing transaction cost and financing fail cost, ECA model with daily cash supply and interest opportunity cost, ECA model with financing fail cost and interest opportunity cost. Earnings Before Interests, Tax, Depreciation and Amortization(EBITDA) is obtained by subtracting noncash depreciation costs from Earning Before Interest and Tax(EBIT), which is efficient metric to evaluate operating cash flow. The research also develops two extended Cash BEP models, considered as interest and corporate tax, in order to indentify the break-even point as EBITDA equals zero. Furthermore, this paper proposes the modified version of CFS by introducing the reclassification of operating and financing accounts in the statement of financial position. In addition, the study also present the reclassification of five types of profit, such as gross profit, EBIT, ordinary profit, special profit, and net profit within the statement of comprehensive income. In order to provide a better understanding of the proposed cash flow models, numerical examples, such as two-sample t test and Analysis of Variance(ANOVA), are presented to demonstrate the statistical significance according to the industrial types for net working capital(i.e cash-to-cash), net profit, operating cash flow and free cash flow.

• Asian Pacific Journal of Cancer Prevention
• /
• v.16 no.5
• /
• pp.1845-1850
• /
• 2015

Background: Cancer is recently one of the major concerns of the public health both in the world and Iran. To inform priorities for cancer control, this study estimated years of potential life lost (YPLL) and productivity losses due to cancer-related premature mortality in Iran in 2012. Materials and Methods: The number of cancer deaths by sex for all cancers and the ten leading causes of cancer deaths in Iran in 2012 were obtained from the GLOBOCAN database. The life expectancy method and the human capital approach were used to estimate the YPLL and the value of productivity lost due to cancer-related premature mortality. Results: There were 53,350 cancer-related deaths in Iran. We estimated that these cancer deaths resulted in 1,112,680 YPLL in total, 563,332 (50.6%) in males and 549,348 (49.4%) in females. The top 10 ranked cancers accounted for 75% of total death and 70% of total YPLL in the males and 69% for both death and YPLL in the females. The largest contributors for YPLL in the two genders were stomach and breast cancers, respectively. The total cost of lost productivity due to cancer-related premature mortality discounted at 3% rate in Iran, was US$ 1.93 billion. The most costly cancer for the males was stomach, while for the females it was breast cancer. The percentage of the total costs that were attributable to the top 10 cancers was 67% in the males and 71% in the females. Conclusions: The YPLL and productivity losses due to cancer-related premature mortality are substantial in Iran. Setting resource allocation priorities to cancers that occur in younger working-age individuals (such as brain and central nervous system) and/or cancers with high incidence and mortality rates (such as stomach and breast) could potentially decrease the productivity losses and the YPLL to a great extent in Iran.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.17 no.1
• /
• pp.269-279
• /
• 2017

Today, labor unions have become more serious and have more critical roles in the IT industry. Labor union should enhance the quality of working life in an organization. It is the most important role of the union to satisfy employees. When a labor union enriches its roles, members have a positive attitude to the union. Hence, workers will be more satisfied and make more positive results. Moreover, although members have positive attitudes to the union, when labor and capital have a negative relationship, workers do not make the best performance. Furthermore, although unions and the companies work in close cooperation, when members have a negative attitude to the labor union, workers' performance will also decline. Hence, a positive attitude to labor unions and union-management relations has a mutual benefit for performance. This study explains these relationships with the effect of attitudes to labor unions (satisfaction, trust, and commitment) on organizational commitment and organizational citizenship behavior, and the moderate effect of union- management cooperation. The purpose of this study is to suggest that labor unions should have a positive relationship with management and win members' recognition in the IT field.

• Journal of Navigation and Port Research
• /
• v.43 no.4
• /
• pp.264-272
• /
• 2019

In this study, the rate of return on investment used as a proxy variable for the entity's value and financial structure (liability ratio) is related to positive balance. This is consistent with the Static Tradeoff Theory (STT) that the entity's value and financial structure are related to a positive balance because the capital expense of a debt (tax-saving effects) that is less than its equity cost before it is in financial difficulty. Also, operating profitability (EBITDA/Sales), investment safety, total asset growth, net working capital and depreciation expenses are related to negative (-) with financial structure (liability ratio). This is the result of an analysis consistent with the Pecking Order Theory (POT). Fuel costs, borrowing, total asset turnover, financial costs, and tangible asset ratios have a significant positive relationship with the debt ratio. This is consistent with the agency theory and confirms that excessive chartering expenses, such as the bankrupt H company, are the main factors that pressure the financial structure of Korean ocean carriers.