Nov' 22
Focus
The first paper, "Implementation of Green Supply Chain Policies in Indian Automotive Industry" by Manoj Kumar, extends the extant Green Supply Chain Management (GSCM) research by developing and empirically testing a conceptual framework that investigates the relationship between three dimensions of integrated GSCM (iGSCM) and multiple dimensions of operational performance. The study is based on survey data collected from 126 automotive manufacturers in India. The relationship between theoretical constructs are analyzed using structural equation modeling. The study highlights interesting key findings linking iGSCM (internal GSCM, GSCM with customers, and GSCM with suppliers) and operational performance in terms of flexibility, delivery, quality, and cost. Thus, simultaneous consideration of internal GSCM and GSCM with customers and suppliers, when implementing environmental sustainability in the supply chains, has been carefully portrayed in this study and empirically tested in terms of its impact on multiple operational performance dimensions.
The second paper, "Impact of Operational Efficiency on Financial Performance: An Analysis of Select Power Companies" by Suchitra Pinninti and Venkata Ravi Ram Pinninti, emphasizes that operations management efficiency impacts the financial performance of an organization, and the paper attempts to correlate the operational management performance with financial performance using ratio analysis. Operational management efficiency ratios give a clear picture of an organization's capabilities, especially in effective utilization of resources to maximize returns to all stakeholders. In this study, the managerial effectiveness of three major power industry firms has been considered, using four key ratios-inventory turnover, fixed asset turnover, investment turnover, debtor turnover ratios-when calculating efficiency. In the study, the authors contrasted selected organizations based on a chosen operational efficiency ratio at the same point in time in what is termed as horizontal or cross-sectional ratio analysis using the means and ANOVA with post-hoc Tukey Honestly Significant Difference (HSD) test, thereby helping in drawing the conclusion whether one company is currently more efficient and more profitable than another.
The third paper, "5S Concept Towards Performance Improvement: An Empirical Study", by Jagdeep Singh, Surjit Kumar Gandhi and Harwinder Singh, highlights the concept of 5S waste elimination technique through sorting unnecessary things and organizing workplace. The study has been carried out in the manufacturing industry of Punjab to assess the performance of 5S technique. Using questionnaire-driven data collection and Analytical Hierarchy Process technique of decision making, the study assesses the most important S of this technique and measures the contribution of different strategies during performance improvement. The results indicate high reduction in accidents, absenteeism and wastage through 5S management.
These three papers placed in a sequence create a sense of sustainable operations practices and thus the major overarching focus of this issue is towards sustainable operations for greater efficiency and management benefit.
Implementation of Green Supply Chain Policies in Indian Automotive Industry
The purpose of this paper is to extend previous Green Supply Chain Management (GSCM) research by developing and empirically testing a conceptual framework that investigates the relationship between three dimensions of integrated GSCM (iGSCM) and multiple dimensions of operational performance. The study is based on survey data collected from 126 automotive manufacturers in India. The relationship between theoretical constructs is analyzed using structural equation modeling. The findings show significant and positive relationship between iGSCM (internal GSCM, GSCM with customers, and GSCM with suppliers) and operational performance in terms of flexibility, delivery, quality, and cost. It is important for managers to simultaneously consider internal GSCM and GSCM with customers and suppliers when implementing environmental sustainability in the supply chains. Overlooking either internal GSCM or external GSCM may hinder their efforts to improve operational performance. This study contributes to the literature by defining iGSCM and empirically testing its impact on multiple operational performance dimensions.
Impact of Operational Efficiency on Financial Performance: An Analysis of Select Power Companies
This paper attempts to correlate the operational performance of firms with their financial performance using ratio analysis. Operational efficiency ratios give a clear picture of an organization's capabilities, especially in effective utilization of its resources to maximize returns to all stakeholders. In this study, the managerial effectiveness of three major energy firms has been considered. Four key ratios-inventory turnover, fixed asset turnover, investment turnover and debtor turnover ratios-have been taken into account when calculating efficiency. It is not enough that an organization's operations are managed effectively; it is also important how the organization will be impacted in the face of a crisis. The debtors' turnover ratio analysis can provide us clarity if the organization has better liquidity management. The study, conducted from 2016 to 2020, contrasts the organizations based on a chosen operational efficiency ratio at the same point in time, in what is termed as horizontal or cross-sectional ratio analysis.
5S Concept Towards Performance Improvement: An Empirical Study
The 5S workplace organization system applies a basic set of management principles that many companies widely adopt to maximize productivity. The five-step lean methodology that improves workplace efficiency stands for: Sort, Set in order, Shine, Standardize and Sustain. This study was conducted to assess the performance of 5S technique in a management firm in Punjab, India. Analytic Hierarchy Process (AHP) technique was applied to assess the most important step of this methodology, and to measure the contribution of different 5S strategies during performance improvement. The results indicated high reduction in accidents, absenteeism, and wastage which highly improved overall performance at the company. Due to this, the selected company's production rate and net profit increased.
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