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Maiti, T., &Giri, B. C. (2017). Two-way product recovery in a closed-loop supply chain with variable markup under price and quality dependent demand. International Journal of Production Economics, 183(2), 259-272.
The author discusses the importance of pricing and costing in the manufacturing business. The main purpose of the author was to elaborate on how a manufacturer decides the margin of wholesalers and retailers by using the models of costing. The findings of the article clarify that a manufacturer determines the cost and profit for each unit of production and decides its price to be offered to consumers.
The main strength of this article is that it discusses the role of costing and pricing by giving relevant examples. The idea presentation style is impressive to inform the reader how a manufacturer can take advantage of setting the price and quality of a product. The article also expresses four decision structures to identify the best policy that suits to the manufacturer.
The article is relevant and important for the case study as it helps in understanding how a manufacturer can achieve the desired objectives. The concepts relate to production cost and markup on it that will assist in setting the price of the products. Furthermore, the sensitivity analysis will explore the understanding of a critical situation that may affect the pricing decision of a manufacturer.
Matsui, K. (2017). When should a manufacturer set its direct price and wholesale price in dual-channel supply chains? European Journal of Operational Research, 258(2), 501-511.
The article explores the importance of setting the price by a manufacturer to achieve the goal of equilibrium. The central argument of the author is that a manufacturer should set the retail price before setting the wholesale price of the product. The production cost can be minimized by using the relevant cost models.
The main strength of this article is that it emphasized on the supply chain channels, direct retail prices, and production cost in a single paradigm. The presentation of the idea is well-prepared and explained that a manufacturer is on the driving force to control the cost. The recommendation of employing multi-channel strategies can assist in increasing the profit of the manufacturer in the present case.
The article relates to the situation of the current case due to its connectivity with profit margin and variable costing. The understanding of manufacturing business and dealing in a competitive market discussed in this article has also an indirect link with the present case. The strategy to achieve the equilibrium position for a manufacturer also provides the effective solution to the present problem.
Sujova, A., Marcinekova, K., &Hittmar, S. (2017). Sustainable optimization of manufacturing process effectiveness in furniture production. Sustainability, 9(6), 923.
The article explores the understanding of cost-cutting by minimizing the variable cost per unit of a product. The author explains that a manufacturer should determine the cost of each activity of the manufacturing process to minimize the variable cost. Cost-effectiveness is the best way to maximize profits in the manufacturing business.
The main strength of this study is that it clearly emphasize reducing the production cost. The methodology adopted by the author gives a clear indication that a manufacturer should not ignore variable and fixed costs if the intention is to improve the profitability.The timing problem and its consequences on the profits of the manufacturer is also discussed in a systematic manner to show a clear and concise view to the reader.
The procedure of cost reduction and techniques identified in this article are helpful in understanding the situation in the current case. The concepts and methods are useful to suggest a suitable solution to the manufacturer. Furthermore, production efficiency techniques and tools can also suggest how to maximize the profit in the manufacturing business.