• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.1-15
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• 2023

Purpose - This study investigates whether the inventory levels of Korean manufacturing firms increased or decreased from 2000 to 2019. We also explore the relationship between inventory levels and firm performance. Design/methodology/approach - We use panel data on KOSPI-listed firms in the manufacturing industry. We measure days in inventory as a proxy for inventory levels, and firm performance is measured by return on assets, return on sales, and EBITDA ratio. The panel data regression method is employed in our analysis. Findings - We find that days in inventory of Korean manufacturing firms significantly increased from 2000 to 2019, especially for raw materials and finished goods inventory. In addition, while days in inventory of large- and medium-sized firms were less than those of small-sized firms, the change in days in inventory of large- and medium-sized firms was positively significant over time. Moreover, the increase in days in inventory was more prevalent among industries related to foods, clothes, chemicals, and transportation. Finally, we show that the days in inventory are negatively related to firm performance. Research implications or Originality - While the Korean manufacturing industry has enormously grown over the last 20 years and managing inventory is critical in the manufacturing industry, our findings counter-intuitively show that the days in inventory of the Korean manufacturing industry had been gradually increased. We speculate that the increase in days in inventory is due to the Korean manufacturing firms' heavy reliance on global supply chains.

• IE interfaces
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• v.25 no.2
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• pp.241-254
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• 2012

This paper studies the relationship between SCM(Supply Chain Management) metrics and corporate value (Tobin's Q) for manufacturing and wholesale/retail firms in Korea. Specifically, the multiple regression analysis is used to investigate the relationships 1) between inventory level, inventory turns, and days of inventory and Tobin's Q and 2) between cash-to-cash (C2C) cycle time including its components such as days of inventory, days sales outstanding, and days payable outstanding and Tobin's Q. The results indicate that there exist statistically significant negative relationships between inventory levels and days of inventory (DOI) and Tobin's Q. Also, we found that there exist commonly known negative correlations between days of raw materials inventory and days of work in process (WIP) inventory and Tobin's Q. For the C2C cycle time, we found that there -exists a statistically significant negative relationship between the C2C cycle time and Tobin's Q. Also, we found that there exist commonly known correlations between the two components of C2C cycle time and Tobin's Q such as the negative for DOI and days sales outstanding. This study clearly shows the negative relationship in general between inventory levels and corporate value and between C2C time and corporate value, and this kind of result has not been found by previous studies in Korea.

• Journal of Korean Institute of Industrial Engineers
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• v.34 no.4
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• pp.425-432
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• 2008

While the Vendor-Managed Inventory(VMI) is a convenient inventory replenishment policy for the customer company, the supplier usually bears the burden of higher inventory and urgent shipments to avoid shortage. Recently some manufacturers begin to fix the production schedule for the next few days (such as three days). Utilizing that information can improve the efficiency of the VMI. In this study, we present a myopic optimization model using a mixed inter programming; and a heuristics algorithm. We compare the performance of the two proposed methods with the existing (s, S) reorder policy. We consider the total cost as the sum of transportation cost and inventory cost at the customer's site. Numerical tests indicate that the two proposed methods significantly reduce the total cost over the (s, S) policy.

• Journal of Navigation and Port Research
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• v.34 no.2
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• pp.131-136
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• 2010

The aim of the paper is to solve the problem of customer reduction due to the difficulty of parts sourcing which impacts production delay and delivery delay in SC networks. Furthermore, this paper is to suggest the new inventory policy of MTS in order to solve the problem of current inventory policy. In order to compare two policies, a LCD maker is selected as a case study and the real data for 2007 years is used for simulation input. The maker uses MTO policy for parts sourcing which has the problem of lead time even if it has some advantage of inventory cost. Based on current process. The simulation program of AS-IS model and TO-BE model using ARENA 10 version is developed for evaluation. In a result, the order number of two policies shows that MTO is 52 and MTS is 53. However the quantity of order shows big difference such that MTO is 168,460 and MTS is 225,106. Particularly, the lead time of new inventory policy shows much shorter that that of MTO such that MTO 100 is days and MTS is 16 days. In spite of short lead time by MTS policy, new policy has to take burden of inventory cost per year. Total inventory cost per year by MTS policy is US$ 11,254 and each part inventory cost is that POL is US$ 1,807, LDI is US$ 2,166 and Panel is US$ 7,281. The implication of the research is that the company has to consider the cost and the service simultaneously in deciding the inventory policy. In the paper, even if the optimal point of deciding is put into tactical area, the ground of decision is suggested in order to improve the problem in SC networks.

• Proceedings of the Korean Radioactive Waste Society Conference
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• 2004.02a
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• pp.238-244
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• 2004

The relationship between the leaching and gap inventory of spent fuel has been studied. When a specimen of J44H08 spent PWR fuel with 38 GWD/MTU has been leached in the synthetic granitic groundwater in Ar atmosphere, the released fraction of cesium was increased rapidly up to 0.7% at around 500 days and stayed below 0.8% until 3 years. This 0.7% of cesium might be released from the gap in this fuel. The measurement of gap inventory with C15I08 spent PWR fuel, having 35 GWD/MTU and 0.22% of fission gas release, was also determined near 0.6% for the cesium, which is a similar fraction of cesium released from the leaching experiment with J44H08 fuel. Its gap inventories of strontium and iodine were about 0.03 and less than 0.2% respectively. Respective fractions of cesium and strontium in grain boundary of C15I08 were 0.78, 0.09%.

• 대한상한금궤의학회지
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• v.12 no.1
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• pp.199-209
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• 2020

Objective: The purpose of this paper is to report the improvement in a patient with benign paroxysmal positional vertigo (BPPV) treated with herbal medication based on the Shanghanlun disease pattern identification diagnostic system. Methods: According to the 'Disease Pattern Identification Diagnostic System based on Shanghanlun Provisions,'the patient was diagnosed with Guorem-byung number 350 provision, and took Baekho-tang herbal medication for 15 days. The result of administration was evaluated using the Dizziness Handicap Inventory (DHI) and the Visual Analog Scale (VAS). Results: After administration of Baekho-tang for 15 days, based on the 350 provision of Baekho-tang diagnosed according to the Shanghanlun provisions, the DHI score decreased from 74 to 16 and the VAS score decreased from 10 to 1. Conclusions: The patient recovered from symptoms of BPPV. This case report suggests that the words '滑,''厥,''裏'on the 350 provision of Shanghanlun mean physical and psychological causes of BPPV in this case.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.115-125
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• 2020

This paper investigates the impact of working capital management on the firm's profitability. The research sample includes 119 non-financial listed companies on Vietnam stock market over a period of 9 years from 2010 to 2018. Two statistical approaches include Ordinary least squares (OLS) and fixed effects model (FEM) are employed to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show the negative and significant impacts of the working capital management, which measured by cash conversion cycle (CCC) and three components of the CCC including accounts receivable turnover in days (ARD), inventory turnover in days (INVD), and accounts payable turnover in days (APD) on the firm's profitability measured by return on assets (ROA) and Tobin's Q. It implies that firms can increase profitability by keeping the optimization of the working capital management measured by the CCC, which includes shortening the time to collect money from clients, accelerating inventory flow and hold the low payment time to creditors. Besides, the profitability of firms was impacted by the sale growth rate, firm size, leverage, and age. Therefore, this paper provides a new insight to managers on how to improve the firm's profitability with working capital management.

• The Journal of Internal Korean Medicine
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• v.42 no.5
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• pp.808-819
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• 2021

Objectives: This study considered the effectiveness of integrative Korean medical treatment for stress-induced hypertensive patients without the use of conventional medication. Methods: A 62-year-old female with stress-induced hypertension (HTN) was hospitalized for 33 days. Her pattern identification was ascendant hyperactivity of liver yang (Ganyangsanghang)-type HTN. Herbal medicine and acupuncture were used for the treatment: Cheonggansoyo-san for 33 days and Chunwangbosim-dan for 15 days, together with acupuncture for 20 minutes twice a day. Blood pressure was checked daily during hospitalization with a digital sphygmomanometer in the brachial artery. Results: After 33 days of treatment, blood pressure decreased. The Handicap Inventory (DHI) scale and Pittsburg Sleep Quality Index (PSQI) scores both decreased. The patient also reported fewer complaints. A five-month follow-up after discharge, with no further treatment, confirmed stable blood pressure. Symptom improvements continued with no significant side effects. Conclusions: This study indicates that Korean medical treatment is effective for stress-induced hypertensive patients.

• Journal of Oriental Neuropsychiatry
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• v.23 no.4
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• pp.229-242
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• 2012

Objectives : This case report presents a 68-year-old female patient. Her chief complaint was fatigue and depressed mood. During the therapeutic period, she experienced a sudden onset of unconsciousness. After two days, she became alert. We diagnosed her with conversion disorder. Methods : We treated her with Korean traditional herbal medicine (Chungsimyeonja-eum, Soum-In Bojungyikgi-tang, Hyeongbangjiwhang-tang) and oriental psychotherapy for 21 days. The effects of treatment were measured by Beck Depression Inventory (BDI), Zung Depression Rating Scale (SDS), and State-Trait Anxiety Inventory (STAI-X-1). Results : After treatment, the chief complaint and accompanying symptoms have been subsided and improved. Further, BDI, SDS, STAI-X-1 score were decreased. Conclusions : In this case, we recognized that Korean traditional herbal medicine and oriental psychotherapy could be effective for clinical symptoms of conversion disorder.

• Journal of Oriental Neuropsychiatry
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• v.20 no.4
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• pp.15-29
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• 2009

Objectives : This study was investigated to find out psychological characteristics of headache patients after traffic accident(TA). also It was identified headache after TA as predictor of posttraumatic stress disorder(PTSD). Methods : Minnesota Multiphasic Personality Inventory(MMPI) was administered to 26 TA patients, We divided them into four groups according to headache and sex and headache duration. Results : 3-1 profile was found by total mean of T score of each MMPI scale in all patients. 3-4 profile was found in headache group, 1-3 profile was found in female Group, female to have headache group. 3-1 profile was found in headache to continue more than 7 days. Conclusions : Female group, female to have a headache group, headache to continue more 7 days group showed 1-3/3-1 profile. it was similar to PTSD profile. The results indicate that in the above three groups, headache was predictor of PTSD and they must be treated more carefully.