Measuring operational excellence: an operational excellence profitability (OEP) approach

The pursuit of operational excellence in the manufacturing industry is at rise but its measurement still lacks of appropriate indicators to determine its financial benefits. The ambiguity is due to the impact arisen from manufacturing fluctuations such as price and cost, production mix and direct and indirect parameters variations. Manufacturing fluctuations distort the cost benefit of operational excellence. This paper, therefore, proposes the OEP (Operational Excellence Profitability) indicators to isolate the impact of manufacturing fluctuation and distinctly identify the payback of operational excellence strategies and initiatives through cost benefits of achieving higher efficiency and yield. The paper presents the conceptual and mathematical development of the proposed OEP indicators and the formulas used for their calculation. Hypothetical and industrial-based investigations and applications of the OEP indicators are conducted for their validation. The results obtained from the hypothetical exercise and industrial case suggest that OEP indicators can provide an effective cost-benefit analysis of operational excellence. This would contribute in providing manufacturing organizations with more complete information regarding the performance of their processes, which will allow their directors and managers to take better decisions related to the management and improvement of their processes.     

From industrial restructuring to the financial crisis: Mainstream nationalism and minimum income in the Basque Country

The uneven development of minimum incomes in Spain is one of the factors that explain the significant differences in the poverty indicators that characterize the Spanish regions, generally in favour of the territories most committed to these policies (Basque Country, Navarra and Asturias). However, there are other aspects that deserve some consideration when interpreting the specific method of developing minimum incomes in southern Europe. One aspect has to do with the differing dynamics of countries, such as Spain and Italy, which have opted for a decentralized regional model. In this regard, the regional autonomous initiative of the Basque Country played a decisive role in promoting minimum income programs in the late 1980s. Without its leadership in the launch of the regional minimum income policy, Spanish trade unions would probably not have opted for this method as a mechanism for combating poverty in the 1990s. No Italian region went on to play this driving role at that time. This article analyses the ideological foundations of the Basque minimum income policy introduced in the late 1980s and which grew significantly before and during the crisis that started in 2007-2008. It examines the dominant political narrative on this issue by analysing the discourse of some of the key nationalist leaders involved in the birth and development of the minimum income scheme. The approach shows that the experience of social decline linked to industrial restructuring processes was instrumental in the construction of the nationalist narrative.     

Testofen,a specialised Trigonella foenum-graecum seed extract reduces age-related symptoms of androgen decrease,increases testosterone levels and improves sexual function in healthy aging males in a double-blind randomised clinical study

This study examined the effect of Testofen, a specialised Trigonella foenum-graecum seed extract on the symptoms of possible androgen deficiency, sexual function and serum androgen concentrations in healthy aging males. This was a double-blind, randomised, placebo-controlled trial involving 120 healthy men aged between 43 and 70 years of age. The active treatment was standardised Trigonella foenum-graecum seed extract at a dose of 600?mg/day for 12 weeks. The primary outcome measure was the change in the Aging Male Symptom questionnaire (AMS), a measure of possible androgen deficiency symptoms; secondary outcome measures were sexual function and serum testosterone. There was a significant decrease in AMS score over time and between the active and placebo groups. Sexual function improved, including number of morning erections and frequency of sexual activity. Both total serum testosterone and free testosterone increased compared to placebo after 12 weeks of active treatment. Trigonella foenum-graecum seed extract is a safe and effective treatment for reducing symptoms of possible androgen deficiency, improves sexual function and increases serum testosterone in healthy middle-aged and older men.     

The exact properties of the lawless and wang operational ridge regression estimator in a misspecified regression equation

The exact properties of the Lawless and Wang Operational Ridge Regression estimator are derived in the context of a misspecified regression equation.     

Issues in Estimating New Keynesian Phillips Curves in the Presence of Unknown Structural Change

Many articles which have estimated models with forward looking expectations have reported that the magnitude of the coefficients of the expectations term is very large when compared with the effects coming from past dynamics. This has sometimes been regarded as implausible and led to the feeling that the expectations coefficient is biased upwards. A relatively general argument that has been advanced is that the bias could be due to structural changes in the means of the variables entering the structural equation. An alternative explanation is that the bias comes from weak instruments. In this article, we investigate the issue of upward bias in the estimated coefficients of the expectations variable based on a model where we can see what causes the breaks and how to control for them. We conclude that weak instruments are the most likely cause of any bias and note that structural change can affect the quality of instruments. We also look at some empirical work in Castle et al. (2014 Castle, J. L., Doornik, J. A., Hendry, D. F., Nymoen, R. (2014). Misspecification testing: non-invariance of expectations models of inflation. Econometric Reviews 33:5–6, 553–574, doi:10.1080/07474938.2013.825137[Taylor &; Francis Online], [Web of Science ®] , [Google Scholar]) on the new Kaynesian Phillips curve (NYPC) in the Euro Area and U.S. assessing whether the smaller coefficient on expectations that Castle et al. (2014 Castle, J. L., Doornik, J. A., Hendry, D. F., Nymoen, R. (2014). Misspecification testing: non-invariance of expectations models of inflation. Econometric Reviews 33:5–6, 553–574, doi:10.1080/07474938.2013.825137[Taylor &; Francis Online], [Web of Science ®] , [Google Scholar]) highlight is due to structural change. Our conclusion is that it is not. Instead it comes from their addition of variables to the NKPC. After allowing for the fact that there are weak instruments in the estimated re-specified model, it would seem that the forward coefficient estimate is actually quite high rather than low.     

Matching in sexual experience for married, cohabitating, and dating couples

The present study examined heterosexual romantic partners' number of intercourse partners prior to the initiation of their relationship to determine if a significant positive correlation (matching) occurred between partners, and if this matching was associated with their level of love, satisfaction with, and commitment to the relationship. One hundred and six couples who were dating, cohabitating, or married participated in this study. Results indicated that, with the exception of cohabitating couples, romantic partners showed a significant level of matching in the prior number of intercourse partners. Further, among the married couples, a higher discrepancy between men's and women's number of previous intercourse partners was related to lower levels of love, satisfaction, and commitment in the relationship.     

Assessing the relevance of higher education courses

The establishment of the European Higher Education Area has involved specifying lists of professional competencies that programs are expected to develop, and with this the need for procedures to measure how every course within a higher education program is aligned with the program's competencies. We propose an instrument for characterizing this alignment, a process that we call assessing the relevance of a course. Using information from the course syllabus (objectives, contents and assessment scheme), our instrument produces indicators for characterizing the syllabus in terms of a competence list and for assessing its coherence. Because assessment involves quality, the results obtained can also be used to revise and improve the course syllabus. We illustrate this process with an example of a methods course from a mathematics teacher education program at a Spanish university.     

The impact of tax benefits on female labor supply and income distribution in Spain

Review of Economics of the Household - Tax benefits targeted to low-wage workers have become very common transfer programs that seek to meet both efficiency and equity targets. An expanding...     

Ecosystem services deficits in cross-boundary landscapes: spatial mismatches between green and grey systems

Urban Ecosystems - Quantitative analyses of the influence of boundary lines on ecosystem services distributions remain rare. Approaches towards integrative assessments of green and grey landscape...