The Impact of Big Data on Firm Performance

Ertz, Myriam; Sun, Shouheng; Latrous, Imen

doi:10.1007/978-3-030-71782-7_40

Cited by 7 publications

(4 citation statements)

References 14 publications

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“…Predictive analytics uses historical data and statistical algorithms to forecast future production trends, while prescriptive analytics uses optimization algorithms to recommend the best course of action for production planning and scheduling (Grzegorowski, et. al., 2022, Ertz, Sun & Latrous, 2021, Pavlyuchenko, Panfilov & Gorshkov, 2021. By leveraging advanced analytics, FMCG companies can improve production efficiency, reduce lead times, and optimize resource allocation.…”

Section: Production Planning and Schedulingmentioning

confidence: 99%

Strategic Operations Management in Fmcg: A Comprehensive Review of Best Practices and Innovations

David Olanrewaju Olutimehin,

Ekene Ezinwa Nwankwo,

Onyeka Chrisanctus Ofodile

et al. 2024

Int. j. manag. entrep. res

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Strategic operations management (SOM) in the fast-moving consumer goods (FMCG) industry plays a crucial role in driving efficiency, quality, and customer satisfaction. This paper presents a comprehensive review of best practices and innovations in SOM within the FMCG sector, aiming to provide insights into how companies can optimize their operations to achieve competitive advantage and sustainable growth. The review begins by examining the key challenges faced by FMCG companies, including demand volatility, short product life cycles, and complex supply chains. It then explores how strategic operations management practices can help address these challenges and improve overall performance. One of the key areas of focus in SOM for FMCG companies is inventory management. Best practices such as demand forecasting, lean inventory principles, and just-in-time (JIT) inventory systems are discussed, highlighting their importance in reducing stockouts, minimizing waste, and improving overall supply chain efficiency. Another critical aspect of SOM in the FMCG industry is production planning and scheduling. The review outlines how advanced planning tools, such as enterprise resource planning (ERP) systems and advanced analytics, can help FMCG companies optimize production processes, reduce lead times, and enhance flexibility to respond to changing market demands. Furthermore, the paper discusses the role of technology and innovation in enhancing SOM practices in the FMCG sector. It explores how technologies such as automation, artificial intelligence (AI), and the Internet of Things (IoT) are transforming FMCG operations, enabling companies to achieve higher levels of efficiency, quality, and sustainability. The review also highlights the importance of collaboration and partnerships in SOM for FMCG companies. It discusses how strategic alliances with suppliers, distributors, and other stakeholders can help FMCG companies optimize their supply chains, reduce costs, and improve customer satisfaction. Overall, this paper provides a comprehensive overview of best practices and innovations in strategic operations management for FMCG companies. It emphasizes the importance of adopting a holistic approach to SOM, integrating people, processes, and technology to achieve competitive advantage and sustainable growth in the dynamic FMCG industry. This review paper systematically examines existing literature on operations management within the FMCG sector, highlighting effective strategies for coordinating operations, crew scheduling, and logistics to uphold professionalism and achieve peak performance. It aims to aggregate insights on process improvement opportunities, conflict management techniques, and cross-functional team dynamics that have led to world-class customer experiences and increased product sales. The review will also discuss the role of technology in maintaining operational records and facilitating continuous improvement in FMCG logistics and supply chain management. Keywords: Innovations, Best Practices, SOM, FMCG, Comprehensive.

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Section: Production Planning and Schedulingmentioning

confidence: 99%

Strategic Operations Management in Fmcg: A Comprehensive Review of Best Practices and Innovations

David Olanrewaju Olutimehin,

Ekene Ezinwa Nwankwo,

Onyeka Chrisanctus Ofodile

et al. 2024

Int. j. manag. entrep. res

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“…As the mandatory transition to IFRS has concerned listed companies located in the European Union, we followed Ertz et al (2021) by testing the effect of IFRS on the cost of equity capital by considering 337 firms listed on the STOXX Europe 600 over the period 1994-2022, i.e., a total of 9773 firm-year observations. This stock market index includes the 600 largest market capitalizations in 17 European countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.…”

Section: Sample and Datamentioning

confidence: 99%

Do IFRS Disclosure Requirements Reduce the Cost of Equity Capital? Evidence from European Firms

Ghouma

Becha

Kalai

et al. 2023

JRFM

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This study analyzes the impact of adopting International Financial Reporting Standards (IFRS) on the cost of equity capital for firms listed on STOXX Europe 600 using a sample of 9773 firm-year observations between 1994 and 2022. We estimate the cost of equity capital using the modified price–earnings–growth ratio model and employ the GMM system to investigate the effect of IFRS Standards on the cost of equity capital. Our results indicate that IFRS adoption reduces firms’ cost of equity capital. We performed various sensitivity analyses to ensure the reliability of our results. Overall, this study contributes to the extant literature on the cost of equity capital implications of IFRS adoption and provides valuable insights for investors, regulators, and policymakers.

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“…Digital transformation provides a change in the business model used by the commercial organization, the most important characteristic of which is to use digital platform solutions in order to create value. As evidenced by the study conducted by Ertz et al (2021), "The analytics of large data can improve the organizational processes to such an extent that such improvements can significantly improve the company's financial performance". Scientists have established that the use of business analysts has a positive effect on the company's performance, descriptive analytics has a positive effect on profit indicators, and predicative analytics has a positive effect on revenue and profit indicators.…”

Section: Analysis Directionmentioning

confidence: 99%

The Development of an Integrated External Environment Monitoring Framework Aimed at the Internal Control of the Procurement Process of Fat and Oil Companies

Bulgakov

Makarenko

2022

JRFM

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The article deals with the development of methodical recommendations for monitoring the external environment aimed at the internal control of the procurement process in business based on a risk-oriented approach and with the digital techniques used by fat-and-oil industry companies. For research purposes, the following were necessary: first, to develop an integrated scheme for monitoring the external environment aimed at the internal control of the procurement process, taking into account the specifics of the commercial organization’s activity; and second, to analyze the features of the integrated monitoring scheme with the use of digital techniques. The methodology for developing methodical recommendations for monitoring the external environment aimed at the internal control of the procurement process is based on a risk-oriented approach, the unforeseen circumstances theory, and the use of big data and business analytics. In the first section, the authors substantiate the relevance of the research topic. In the second section, investigations on the topic are reviewed, the theoretical foundations are summarized, and research hypotheses are formulated. The third section determines the methodology of the study. The fourth section presents the research results, their practical value, recommendations and limitations, and the developed integrated scheme for environment monitoring with regard to the internal control of the procurement process based on a risk-oriented approach taking into consideration the specifics of the fat and oil industry. This section also determines the specifics of the digital techniques used for monitoring the environment and discusses issues surrounding the external monitoring of raw material prices, different types of work, and services based on digital techniques aimed at internal control. In the fifth and final section of the article, the authors analyze the research results and substantiate the prospects for further research in this area. The research results could be used by commercial companies in processing industries which are undergoing digital transformation and developing platform solutions aimed at improving internal control. The main research result of this article is the development of methodical recommendations for monitoring the external environment aimed at the internal control of the procurement process in business based on a risk-oriented approach with the use of digital techniques and a developed integrated monitoring scheme.

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The Impact of Big Data on Firm Performance

Cited by 7 publications

References 14 publications

Strategic Operations Management in Fmcg: A Comprehensive Review of Best Practices and Innovations

Strategic Operations Management in Fmcg: A Comprehensive Review of Best Practices and Innovations

Do IFRS Disclosure Requirements Reduce the Cost of Equity Capital? Evidence from European Firms

The Development of an Integrated External Environment Monitoring Framework Aimed at the Internal Control of the Procurement Process of Fat and Oil Companies

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