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Labor Costs (labor + cost)
Selected AbstractsEstimating the New Keynesian Phillips Curve: A Vertical Production Chain ApproachJOURNAL OF MONEY, CREDIT AND BANKING, Issue 4 2008ADAM HALE SHAPIRO New Keynesian Phillips Curve; generalized method of moments; vertical production chain; inflation It has become customary to estimate the New Keynesian Phillips Curve (NKPC) with generalized method of moments using a large instrument set that includes lags of variables that are ad hoc to the firm's price-decision problem. Researchers have also conventionally used real unit labor cost (RULC) as the proxy for real marginal cost even though it is difficult to support its significance. This paper introduces a new proxy for the real marginal cost term as well as a new instrument set, both of which are based on the micro foundations of the vertical chain of production. I find that the new proxy, based on input prices as opposed to wages, provides a more robust and significant fit to the model. Instruments that are based on the vertical chain of production appear to be both more valid and relevant toward the model. [source] An integer programming model for the weekly tour scheduling problemNAVAL RESEARCH LOGISTICS: AN INTERNATIONAL JOURNAL, Issue 7 2001Tolga Çezik Abstract We study a workforce planning and scheduling problem in which weekly tours of agents must be designed. Our motivation for this study comes from a call center application where agents serve customers in response to incoming phone calls. Similar to many other applications in the services industry, the demand for service in call centers varies significantly within a day and among days of the week. In our model, a weekly tour of an agent consists of five daily shifts and two days off, where daily shifts within a tour may be different from each other. The starting times of any two consecutive shifts, however, may not differ by more than a specified bound. Furthermore, a tour must also satisfy constraints regarding the days off, for example, it may be required that one of the days off is on a weekend day. The objective is to determine a collection of weekly tours that satisfy the demand for agents' services, while minimizing the total labor cost of the workforce. We describe an integer programming model where a weekly tour is obtained by combining seven daily shift scheduling models and days-off constraints in a network flow framework. The model is flexible and can accommodate different daily models with varying levels of detail. It readily handles different days-off rules and constraints regarding start time differentials in consecutive days. Computational results are also presented. © 2001 John Wiley & Sons, Inc. Naval Research Logistics 48: 607,624, 2001. [source] Unlocking the Value of RFIDPRODUCTION AND OPERATIONS MANAGEMENT, Issue 1 2007Hau Lee RFID (Radio-Frequency Identification) technology has shown itself to be a promising technology to track movements of goods in a supply chain. As such, it can give unprecedented visibility to the supply chain. Such visibility can save labor cost, improve supply chain coordination, reduce inventory and increase product availability. Industry reports and white papers are now filled with estimates and proclamations of the benefits and quantified values of RFID. Early adopters are now rallying more and more followers. However, most such claims are educated guesses at best and are not substantiated, that is, they are not based on detailed, model-based analysis. This paper argues that there is a huge credibility gap of the value of RFID, and that a void exists in showing how the proclaimed values are arrived at, and how those values can be realized. The paper shows that this credibility gap must be filled with solid model analysis, and therefore presents a great opportunity for the Production and Operations Management (POM) research community. The paper reviews some of the ongoing research efforts that attempt to close the credibility gap, and suggests additional directions for further strengthening the POM's contribution to help industry realize the full potentials of RFID. [source] Longer and better lives for patients , and their centers: A strategy for building a home hemodialysis programHEMODIALYSIS INTERNATIONAL, Issue 1 2008Melville H. HODGE Abstract Physicians should prescribe the dialysis mode most likely to result in the best outcome for the end-stage renal disease patient, not leave it to the patient or dialysis center to choose. That prescription, in order of decreasing desirability, should be for frequent home nocturnal hemodialysis, frequent home short-daily, or least efficacious, 3x in-center or peritoneal dialysis. Patient limitations may require prescribing a less than optimal mode. Physician-patient discussions should focus on expected clinical outcomes and health benefits, not patient convenience or "lifestyle." In order to overcome natural fears, qualified patients should participate in a short in-center frequent dialysis personal clinical trial to experience the benefits. The financial health of dialysis centers will be enhanced by shifting continually inflating labor costs from the center to patients and home caregivers. This shift from 3x in-center to frequent (optimally 6x nocturnal) home dialysis may reasonably be expected to enhance the survival and well-being of both the patient and the center. [source] SIMULTANEOUS RECOVERY AND DETECTION OF FOUR HEAT-INJURED FOODBORNE PATHOGENS IN GROUND BEEF AND MILK BY A FOUR-COMPARTMENT THIN AGAR LAYER PLATEJOURNAL OF FOOD SAFETY, Issue 2 2006VIVIAN C.H. WU ABSTRACT A four-compartment thin agar layer (4-TAL) system was developed to improve operation efficiency and recover injured foodborne pathogens simultaneously. The system consisted of a layer of nonselective agar overlaid on four different selective agars (xylose lysine desoxycholate [XLD], cefsulodin irgasan novobiocin [CIN], modified Oxford medium [MOX] and MacConkey sorbitol agar [MSA]) housed in a four-compartment petri dish. We applied this system to simultaneously recover heat-injured (55C, 10 min) Escherichia coli O157:H7 (MSA), Listeria monocytogenes (MOX), Salmonella Typhimurium (XLD) and Yersinia enterocolitica (CIN) from ground beef and pasteurized milk. No significant difference (P > 0.05) occurred between the single recovery unit (nonselective agar overlaid on one selective agar in a standard petri dish) and the 4-TAL for detecting four heat-injured pathogens in tested samples. Both TAL methods showed greater recovery of four heat-injured pathogens than the pathogen-specific selective media (P < 0.05). The 4-TAL system appears to be efficient for recovery and detection of injured pathogens in food in terms of operation, material and labor costs, and space of incubation. [source] Effects of Periodic Feed Deprivation on Growth, Feed Efficiency, Processing Yield, and Body Composition of Channel Catfish Ictalurus punctatusJOURNAL OF THE WORLD AQUACULTURE SOCIETY, Issue 4 2005Menghe H. Li Two studies were conducted in 110-L flow-through aquaria and 0.4-ha ponds to evaluate effects of periodic feed deprivation on the growth performance of channel catfish Ictalurus punctatus. Fish were deprived of feed 0, 1, 2, or 3 consecutive d/wk, l d per 5-d period, or 3 consecutive d per 10-d period and fed to satiation on days fish were fed. In Experiment 1, fish fed less frequently than daily consumed significantly less feed (over the experimental period) and gained significantly less weight than fish fed daily, except that feed consumption of fish deprived of feed 1 d/wk was not significantly different from that of fish fed daily. Compared with fish fed daily, fish deprived of feed 2 d/wk had significantly lower feed conversion ratio (FCR). Visceral fat of fish deprived of feed 1 or 2 d/wk was similar to that of fish fed daily, but fish deprived of feed for longer periods had significantly lower visceral fat than fish fed daily. Regression analysis indicated that feed consumption, weight gain, and visceral fat increased linearly as the number of days that fish were fed increased. In Experiment 2, there were no significant differences in the amount of feed fed between fish deprived of feed 1 d/wk and those fed daily. Net production of fish deprived of feed 1 or 2 d/wk or 1 d per 5-d period was not significantly different from that of fish fed daily, but fish deprived of feed for longer periods had significantly lower net production than fish fed daily. Visceral fat of fish deprived of feed 1 d/wk or 1 d per 5-d period was similar to that of fish fed daily, but fish on other treatments had significantly lower visceral fat than fish fed daily. Regression analysis showed that as the number of days fed increased the amount of feed fed and net production increased quadratically. Feed conversion ratio, carcass yield, visceral fat, and fillet fat increased, while fillet moisture decreased linearly as the number of days fed increased. Although feeding less frequently than daily may improve feed efficiency, and fish deprived of feed may demonstrate compensatory growth when a full feeding regime is resumed, it may be difficult to provide enough feed to satiate all size-classes of fish under a multiple-batch cropping system without causing water quality problems. Under normal economic conditions, fish should be fed daily to apparent satiation without waste and without causing water quality problems. However, during periods of unfavorable economic conditions, channel catfish raised from advanced fingerlings to market size may be fed less frequently than daily to reduce production cost. Results from the present study indicated that feeding channel catfish to satiation 5 or 6 d/wk (not feeding on one or two weekend days) could provide some benefits in reducing production cost through reduced feed and labor costs for food-sized channel catfish during periods of low fish prices and high feed prices. [source] Economic Feasibility of Aquaculture of Spiny Lobsters Jasus edwardsii in Temperate WatersJOURNAL OF THE WORLD AQUACULTURE SOCIETY, Issue 1 2000Andrew Jeffs Around the world there is strong interest in the aquaculture of spiny lobsters (family Palinuridae). However, there is little published information about the economic feasibility of spiny lobster aquaculture. For more than 20 yr there has been experimental grow out of the spiny lobster Jasus edwardsii in New Zealand in land-based systems using seed animals (puerulus) taken from the wild. These studies provide sufficient information on growth, mortality, food conversion, handling and capital costs to enable an assessment of the economic feasibility of the commercial culture of spiny lobsters in temperate waters. This assessment suggests that profitable spiny lobster aquaculture will rely on greatly reducing the infrastructure and operating costs of land-based farming operations, as well as lowering feed and labor costs. Financial simulations suggest that increasing productivity through faster growth rates and lowered culture mortalities will only have a minor effect on profitability unless infrastructure and operating costs can be reduced significantly. Seacage culture or sea ranching of spiny lobsters may offer a means of avoiding high infrastructure costs associated with land-based farming operations. The development of a cost-effective artificial feed would also appear to be a priority for improving the economic outlook for culturing spiny lobsters. The results of this study are relevant to the economics of spiny lobster culture developments in other temperate regions of the world. [source] Profit Margins in Mexico's Manufacturing Industry: an Econometric StudyMETROECONOMICA, Issue 1 2000Julio Lopez G. Prices, wages and profit margins in Mexico have varied considerably. The purpose of this study is to analyze the evolution of profit margins in the Mexican manufacturing industry during the last two decades and to provide an explanation for the changes. The econometric study shows that surges in the exchange rate provoke increases in prices, both because imported input costs rise and because pressures from foreign competition are relaxed when domestic prices of imported goods rise. A second factor influencing margins is trade openness. Third, the level of profit margins also depends positively on the level of labor costs. An increase in labor costs tends to be passed along in a more than proportional manner to prices. Finally, an increase in interest rates seems to stimulate increases in profit margins, at least in some manufacturing divisions. [source] Transfer of occupational health problems from a developed to a developing country: Lessons from the Japan,South Korea experience,AMERICAN JOURNAL OF INDUSTRIAL MEDICINE, Issue 8 2009Jungsun Park MD Abstract Many corporations move their manufacturing facilities or technologies from developed to developing countries. Stringent regulations have made it costly for industries to operate in developed, industrialized countries. In addition, labor costs are high in these countries, and there is increasing awareness among the general public of the health risks associated with industry. The relocation of hazardous industries to developing countries is driven by economic considerations: high unemployment, a cheaper labor force, lack of regulation, and poor enforcement of any existing regulations make certain countries attractive to business. The transfer of certain industries from Japan to Korea has also brought both documented occupational diseases and a new occupational disease caused by chemicals without established toxicities. Typical examples of documented occupational diseases are carbon disulfide poisoning in the rayon manufacturing industry, bladder cancer in the benzidine industry, and mesothelioma in the asbestos industry. A new occupational disease due to a chemical without established toxicities is 2-bromopropane poisoning. These examples suggest that counter-measures are needed to prevent the transfer of occupational health problems from a developed to a developing country. Corporate social responsibility should be emphasized, close inter-governmental collaboration is necessary and cooperation among non-governmental organizations is helpful. Am. J. Ind. Med. 52:625,632, 2009. © 2009 Wiley-Liss, Inc. [source] A Market, Operation, and Mission Assessment of Large Rural For-Profit Hospitals With Positive Cash FlowTHE JOURNAL OF RURAL HEALTH, Issue 1 2007Michael J. McCue DBA ABSTRACT:,Context: National benchmark data for 2002 indicate that large rural for-profit hospitals have a median cash flow margin of 19.5% compared to 9.2% for their nonprofit counterparts. Purpose: This study aims to gain insight regarding the driving factors behind the high cash flow performance of large rural for-profit hospitals. Methods: Using 3 annual periods of Centers for Medicare and Medicaid cost report data with the last fiscal year ending between September 30, 2002, and August 30, 2003, the study found a cash flow margin of 21.5% for the large rural for-profit hospitals. All these facilities were owned by hospital management companies. To assess their underlying market, operational, and mission factors, these hospitals were compared to a similar comparison group of large rural nonprofit hospitals that are system owned and have positive cash flows. Findings: Using logistic regression analysis, the study found lower operating expense per adjusted discharge and salary expense as a percentage of total operating expense among large rural for-profit, system-owned hospitals with positive cash flows relative to nonprofits with similar traits. Conclusion: Overall, the findings of this study reflect how these for-profit hospitals, which are owned by hospital management companies, focus on controlling their labor costs as well as operating costs per discharge in order to achieve a greater positive cash flow position. [source] | |||||||||||||