論文摘要 股票動能投資策略（momentum strategy）在近幾年來受到熱烈的探討，其原理雖然簡單卻可能是最成功的投資方法。本研究基於「全球供應鏈」之概念下，藉由產品價值單元間之上、下游關係，研究是否能以他國股票過去的表現作為選股依據，在本國形成一投資組合，並能獲取超額報酬率。 本研究利用Datastream資料庫中之產業月收盤指數數據，以台灣與美國、歐洲、日本等四個地區為研究對象，驗證國際間之產業動能連動現象，期能藉由實證結果建構一個能獲取超額報酬率之產業動能投資策略。 研究結果發現： 1. 台灣股市不存在產業動能持續現象。 2. 美國股市產業動能持續現象對台灣股市具有領先效果，但是經過按產業β值調整贏家和輸家組合之投資權重，使得投組之β值趨近於零後，所得之報酬率低於同一時期之台灣無風險報酬率。 3. 歐洲股市產業動能持續現象只在持有檢定期較長的情況下對台灣股市具有領先效果。 4. 日本股市產業動能持續現象對台灣股市具有領先效果，但是經過按產業β值調整贏家和輸家組合之投資權重，使得投組之β值趨近於零後，所得之報酬率低於同一時期之台灣無風險報酬率。 5. 台灣股市產業動能持續現象只有在中、長期對美國股市具有領先效果。 6. 台灣股市產業動能持續現象在中、長期對歐洲股市具有領先效果。 7. 台灣股市產業動能持續現象只有在短期對日本股市具有領先效果。

個案I公司伺服器部門的主要業務為提供伺服器中央處理器和晶片組的產品組合給伺服器品牌商，而過去個案I公司的伺服器部門主要提供給伺服器品牌商H公司的為針對大型企業解決方案和中小型企業解決方案的產品組合，並且已經建立許多次成功合作的經驗，但是，此次卻無法在家用和微型企業解決方案上擊敗競爭對手A公司。因此，本次論文主要探討的問題就是以企業採購策略、信用評分系統、性能價格比和專屬陷入資產成本觀點出發，從剖析大型企業解決方案、中小型企業解決方案，比較個案I公司和競爭對手A公司的產品組合策略，並探討個案I公司無法滿足品牌商H公司家用和微型企業解決方案的原因，最後將會依據研究分析的結論，建議個案I公司針對家用和微型企業解決方案的產品組合策略，必須架構在產品組合差異化和產品組合隸屬於伺服器部門的兩個原則上，再尋求整體伺服器系統性能價格比最大化的產品組合。

資訊電子業競爭激烈，無不希望能降低採購成本來增加利潤，加上價格變動迅速、產品生命週期短，一旦庫存擱置過久，就會造成成本上的大量損失，因此此產業的製造商，紛紛尋求資訊科技的協助，來完成採購等相關活動，而電子資料交換（EDI）就在這一波應用中扮演著不可或缺的角色。因EDI無法單獨使用，需交易伙伴的配合，故組織間的互動關係，可能對EDI的採用產生影響。 　　EDI的採用可分為三個層次：系統建置層次、內部整合層次、外部整合層次，而本研究探討在目前供應鍊管理的環境下，組織間互動關係中的權勢(power)與信任(trust)，對EDI採用的影響。本研究針對國內資訊電子業中的製造業進行實證研究，研究結果顯示，權勢、信任與EDI採用的三個層次，均呈現正向的相關。若將權勢與信任放在一起分析，權勢因素在EDI採用的三個層次所產生的影響，比信任因素更顯著，而信任因素在EDI內外部整合層次所能解釋的程度，比在EDI系統建置層次來的高。

面對全球永續議題熱潮，歷經2013年孟加拉成衣工廠事件以及綠色和平組織《Dirty Laundry》揭露知名品牌服飾含有有害化學物質等衝擊，時尚產業的永續話題再度被討論，各大品牌受到壓力也必須對整個供應鏈有所作為。本研究旨在探討永續能力是否為品牌客戶遴選供應商的關鍵因素，且面對品牌客戶為達成企業永續的理念，而要求其價值鏈上的供應商進行永續供應鏈改革的要求，品牌客戶採用什麼管理作法，且供應商如何因應，此壓力是否成為其實施永續供應鏈管理之主要因素。研究主要透過深度訪談台灣紡織成衣供應商和代表性小樣本結構性問卷的方式進行研究分析。研究結果指出品牌客戶針對永續能力要求的壓力強度因不同品牌客戶而異，但供應商主要為延續與品牌客戶的合作而進行永續供應鏈管理，然而，永續能力並非其遴選供應商的關鍵因素。實施永續供應鏈帶來之績效缺乏財務、產品面等實質效益，僅提升企業形象與和品牌客戶之信任，且供應商實施之困難點多考量投資成本問題，品牌客戶也鮮少提供有效的輔導與資源，不利於形成產業的永續風氣。仍有供應商因為投資永續管理能力，獲得新的市場機會，後續建議台灣紡織成衣供應商面對永續這波風潮與趨勢，不單用代工成本的思維，能夠從長遠的角度，思考其長期可能帶來的機會點去做策略規劃和實踐。

所謂的AAA供應鏈是由史丹佛大學Hau Lee 教授在2004年彙整提出，其認為以往供應鏈上之管理只注重快速、低成本導向，但最棒的供應鏈應具備更多能力，該概念包含三個面向（Agility、Adaptability、Alignment），3A分別是就需求、環境以及關係不確定性提出解決，透過達成3A，在短中長期改善供應鏈表現，最終達到最佳境界。整條供應鏈的最佳化，不論是在考慮流程再造或是策略轉型時，都應將上下游廠商的互動和整條供應鏈的綜效納入，比起過往單就生產管理探討，3A更強調的是夥伴間緊密關係，透過策略夥伴間的合作使目標協調一致，真正達到供應鏈之最佳化。 為探討夥伴關係之於鮮乳供應鏈之重要性，乃以計質研究法對個案公司營業所現場作業員、業務代表以及高階管理階層作深度訪談，了解夥伴關係之建立對於互動模式之影響，透過關係改善互動加深對雙方帶來之效益，並期望不僅僅是在作業流程上，而是能夠將合作層次提升到策略層次，擴大雙方綜效。 本研究，最後根據個案公司現有狀況，配合夥伴階段要素進行檢視，並針對不足處提出建議，透過多階段計畫，將個案公司和通路商的合作互動逐步加深，在3A架構下完善整條供應鏈表現。

企業在全球化趨勢影響下面對日漸劇烈的競爭，對於顧客需求快速改變必頇及時因應。同時在產品生命週期越來越短的情況下，如何有效率的生產以提昇企業績效，將成為企業是否具競爭力的重要關鍵。 企業為了因應顧客需求快速改變，企業產品品質必頇不斷跟著調整改善，才能符合顧客期望。而若高階主管能夠重視品質管理與改善，並全方位分析研究以掌握顧客需求，配合全體員工共同為品質改善而努力則會更有效率。品質改善過程需要相關零組件供應商緊密地配合，如果能夠與供應商發展長期穩定夥伴關係，互助合作對供應商交期也能有效縮短而穩定地供貨供料，共創雙贏這也將有助於提昇企業績效。 回顧相關文獻發現與供應商維持長期穩定關係將有助於穩定供貨供料，與供應商的關係從早先的互相競爭觀點，近年來已轉而成互惠互利共創雙贏、資訊利潤分享的合作關係。此外供應商的品質若能符合顧客標準對其競爭者相對來說也是一種技術門檻，公司培養的供應商又能維持良好的夥伴關係，對穩定供應商供貨將有所助益。 本研究透過資料分析認為若高階主管重視支持品質管理與改善，將能激勵員工朝著企業目標與願景共同前進，配合研究分析顧客需求並快速反應解決顧客之問題，能提高顧客滿意度。又依顧客需求投入資源協助供應商作品質管理與改善以通過或符合顧客標準，對產品品質與發展穩定供應商關係都很有幫助。而若能有長期穩定的供應商關係，對供應商供貨的穩定性也會很有助益，有穩定的供貨供料來源公司才能有效率地生產減少存貨，進而提昇企業整體績效。 / The market is increasingly competitive by the impact of globalization, and companies must respond in a timely manner to meet rapidly changing customers’ needs. In addition, product life cycles are shortened, and an efficient production becomes a key factor enabling companies remain competitive. In order to respond to the rapidly changing customers’ demand,companies must continuously improve the product quality. If the top management can focus on quality improvement, and conduct a detailed study understanding the customers’ needs with a full cooperation of employees, the company will be more efficient. Quality improvement process should closely cooperate with suppliers. If companies can develop a long-term and stable relationship with suppliers, a win-win situation will develop to improve business performance. It is found, from the literature review, that maintaining a long-term relationship with suppliers will stabilize materials supply. The relationship between companies and their suppliers has involved from competitive to mutual beneficial in recent years. In addition, it becomes a technical entry criterion, if the suppliers’ product quality meets customers’ requirements. The results of this study show that the top management involvement on quality management will encourage employees work toward company’s vision and objectives. If the supplier improve their quality certification or compliance with customers standards, its also a technical threshold relative to the competitors. Companies own specific training providers while maintaining stable partnership with the suppliers. Undoubtedly,it will also help to promote their competition.

整個產業的競爭已由企業個體對企業個體，轉變為供應者與購買者結合而成的供應鏈與供應鏈間的競爭，因此整個供應鏈管理被認為是一個新競爭優勢的來源。建構供應鏈管理之首要活動為供應商的評估與選擇，選擇良好的供應商為供應鏈運作順暢與發揮最大效益的基礎，因此如何選擇具有發展潛力的供應商以幫助自身策略之達成便格外重要。除慎選供應商外，為使供應商達到並維持企業設立之多項標準，企業尚須投入努力以執行供應商發展活動，藉以提升供應商之績效和能力，且企業亦須定期地仔細監督和評估供應商之績效，以確保現有供應商能符合企業之需求及未來非預期之需求。 企業與供應商並非保持單一關係類型，而是維持一個不同關係類型的組合，因而為了達到最適之供應商管理效率和效果，且分配最適之資源給不同的供應商，企業須針對不同關係類型之供應商採取不同之供應商管理模式。 本研究採個案研究法，再輔以問卷分析加以支持。以國內某資訊電子企業為對象，探討伴隨供應商與企業之關係類型不同，企業採取之供應商選擇評估標準、供應商發展活動以及供應商績效評估制度各為何以及有何異同，經整理分析，發現之結果如下： 一、個案公司與供應商之關係類型可分為三類。 二、個案公司對供應商之選擇評估標準會隨著與供應商之關係類型不同 而有所不同。 三、個案公司對供應商採行之供應商發展活動會隨著與供應商之關係類型 不同而有所不同。 四、個案公司對供應商採行之供應商績效評估項目會隨著與供應商之關 係類型不同而有所不同。 五、個案公司與其供應商之間，對於個案公司所採取之供應商管理制度具 有一些認知上差異。 六、個案公司對策略夥伴型供應商，在選擇評估標準、績效評估項目上重 視及要求的程度皆最高，且對其執行之發展活動亦最為頻繁。 / Competition in the industry is changing from among firms to among supply chains forming by suppliers and buyers. Thus, supply chain management is increasingly recognized as an important source of a firm’s competition advantage. The first step of supply chain management is to select and evaluate suppliers. Since selecting good suppliers is the basis of running supply chain smoothly and creating maximum benefits; therefore, how to select potential suppliers to help achieving the strategy goal has become the most important thing. Besides selecting suppliers carefully, in order to attaining and maintaining various standards set up by firms, they have to put effort to implement supplier development activities to promote the performance and abilities of suppliers. Also, firms must monitor and evaluate supplier performance carefully and regularly to ensure that its current suppliers are meeting the needs and unexpected future needs of the firm. Firms do not have a “one-size-fits-all” strategy for relationship types with suppliers, but manage a portfolio of relationships. Firms should adopt different types of supplier management in accordance with types of relationships to achieve the objective of managing supply chain efficiently and effectively and distribute proper resources to suppliers. This study uses case study research, and is supported by the questionnaire. This study takes certain electronic enterprise as the object company, and tries to discuss that with different relationship types between suppliers and firms, what will be the selection criterion, the development activity, and the performance evaluation system for suppliers; moreover, how are they different. Through collection and analysis, we found the following conclusions: 1.The types of relationship can be divided into three types. 2.Supplier selection criteria adopted by the firm are different from types of relationships. 3.Supplier development activities implemented by the firm are different from types of relationships. 4.Supplier performance evaluation items adopted by the firm are different from types of relationships 5.There are little agreements between the firm and it’s suppliers as for the supplier management system. 6.On the selection criterion and performance evaluation items, the firm pays most attention and requires most on strategic partnership suppliers. Moreover, the development activities are most frequently executed.

21世紀是供應鏈與供應鏈之間的戰爭。從近幾年Fortune雜誌調查發現，美國前500強企業多以創新的供應鏈管理見長，供應商管理能力已經躍升為今日企業之核心能耐，企業不再單打獨鬥，而是靠跨組織的合作才能贏得商戰。 為了管理日漸龐雜的供應商關係，「供應商計分卡」普遍運用於企業，然而實際走訪電子業界卻發現，供應商計分卡績效衡量指標非常不足，更大的問題是供應商計分卡績效衡量指標欠缺與總公司策略的連結！一個缺乏策略與戰術的衡量指標很容易使組織的管理走向明日黃花。 有鑑於此，本研究期以化策略為行動的績效管理工具平衡計分卡，為企業提供供應商績效衡量指標全新架構，我們稱這套嶄新的管理工具為「供應商平衡計分卡」，供應商平衡計分卡能帶領企業結合跨組織力量，不僅拉升企業績效，更能有效應付未來挑戰。 / The 21st century is the age of supply chain war. In recent years, Fortune magazine survey found that most of the top 500 US companies are known for innovation of supply chain management, and the supplier management capability has emerged as the core competence of today's enterprises. The enterprises can no longer compete solely on themselves, and “inter-organizational cooperation” will be the key to the success. In order to manage increasingly complicated and numerous supplier relationships, “supplier scorecard” is generally used in business. However, after actually interviewing with the electronics industry, we found that the performance measures of supplier scorecard are insufficient. In particular, the supplier performance measurement scorecard lacks for links with the head office strategy. In this study, we introduce a strategy tool which incorporates with the performance management tool Balanced Scorecard. It aims to provide enterprises with a new supplier performance metrics framework, and we call this new management tool “Supplier Balanced Scorecard.” The “Supplier Balanced Scorecard” not only can lead the enterprises to combine inter-organizational efforts, but also pull up business performance, more effectively in meeting the challenge of the new century.

嵌入式電腦產業的產品生命週期平均較長，需求量不高，需要品質穩定與長期供貨， 在供應鏈的管理策略上，會與一般消費性電子產業有些許不同，而本研究的探討案例為自有品牌專案，運用到了電子商務與線上社群等新興的資訊整合方法，相信對於供應鏈管理的意涵上有其值得探討之處。 本研究探討供應鏈整合對於供應鏈績效之影響，在文獻探討中，供應鏈整合的構面分為與供應商、與客戶以及內部整合部分，結合文獻中提到的供應鏈管理， 並連結到SCOR模型中的績效評估指標，帶出本研究將探討的供應鏈整合作法。 本研究以質化之個案訪談法，以嵌入式電腦公司之自有品牌產品線為研究對象，探討在專案管理面向裡， 供應鏈整合對於供應鏈績效之正向影響。本研究發現在專案管理中，除了在研究架構裡提到的供應鏈整合，在實務上各功能單位所引導之供應鏈整合，對於績效有正向的影響 。 研究最後針對三個不同的供應鏈整合構面，整理專案管理中的供應鏈整合作法中，於SCOR績效指標之直接與間接之影響，並且針對結論提供相應之建議，期盼在實務中的供應鏈整合與管理有所助益。 / Because of the characteristics of long product life cycle of embedded industry, it requires stable quality performance and long-term supply, this will differentiate the supply chain strategy from consumer electronics industry. As this study focus on a private brand project of the company, it has applied some knowledge sharing methodologies such as e-commerce and online communities, it would be worth to explore and implications of supply chain management. This study examines the impact of supply chain integration on supply chain performance. In the literature review, the facets of supply chain integration are divided into three aspects: suppliers, customers, and internal integration combined with the supply chain management mentioned in the literature and linked to the performance evaluation indicators in the SCOR model. The above review brings out the supply chain integration method which will be discussed in this study. This study uses a qualitative case interview method to investigate the embedded brand company's own brand product line, and explores the positive effect of supply chain integration on the supply chain performance in project management scope. This study finds that in the project management, in addition to the supply chain integration mentioned in the research framework, the supply chain integration in practice guided by each functional unit has a positive impact on performance. In the conclusion, the study focused on three different supply chain integration facets, collated the direct and indirect impacts of SCOR performance indicators in the supply chain integration method, and providing the corresponding suggestion in the conclusions.

歐盟於2003年2月公佈的「電子電機設備限用有害物質」（RoHS）指令規定，2006年7月以後銷售至歐盟市場的電子與電機產品限用鉛、鎘、汞、六價鉻、多溴聯苯與多溴二苯醚等對環境有害的物質。RoHS指令對以製造為主的台灣廠商造成重大影響，為確保廠商所生產的產品符合環境法令的規定，有必要導入綠色供應鏈管理。因此，引發本研究對此一議題的興趣，進而探討：電子業供應商基於中心廠的要求而配合導入綠色供應鏈管理的情境下，從供應商的角度探討，影響其導入綠色供應鏈管理時配合度之因素為何？ 本研究採取質的研究中的紮根理論法，以深度訪談方式，訪問以S公司為中心的供應鏈體系中的四家供應商，在取得受訪者同意後進行錄音，訪談結束後再謄寫成逐字稿。在整理與分析逐字稿，並經過開放、主軸編碼等過程，逐步地建構出一個從供應商角度，探討影響其導入綠色供應鏈管理時配合度的因素模式。 本研究從個案訪談中發現，供應商在面對法規壓力、同儕壓力、與客戶壓力之下，會經過成本效益、認知風險與認知價值之考量後，決定是否配合中心廠導入綠色供應鏈管理。一旦決定導入綠色供應鏈管理後，供應商須配合中心廠的諸多要求，而供應商是否達成中心廠之要求，則以供應商配合度來衡量，包括供應商傳遞資訊給中心廠時的資訊交換的及時性、資訊正確性、以及資訊完整性。 研究結果顯示，影響供應商配合度的因素有三類，第一類為供應商的技術與能力，此包括供應商的技術創新能力、供應商的資訊管理能力、及供應商與中心廠的專業輔導能力；第二類為聯絡人的特質，中心廠的聯絡人是否具備同理心、供應商與中心廠的聯絡人是否具備專業能力，此皆影響供應商的配合度；第三類則為中心廠與供應商之間的溝通情況，此包括：溝通策略、溝通管道、溝通頻率、溝通內容等。 與本研究相關的文獻進行比較後，發現本研究之成果與現有人際溝通的理論文獻相呼應，部分文獻指出溝通時個人特質會影響其溝通行為，在綠色供應鏈管理的情境下，本研究亦發現中心廠與供應商雙方聯絡人的特質會影響其溝通行為。此外，本研究亦擴充了溝通理論，例如：雙方聯絡人的溝通頻繁未必會提高供應商配合度。另外，本研究所提出的配合度概念，未見於其他文獻，此一概念可用於衡量供應商在配合導入綠色供應鏈管理時，其執行面的成效，在未來的研究中值得深入探討。本研究不僅對理論上有所貢獻，更對廠商提出實務上的建議。 / The Restriction of Hazardous Substances Directive (RoHS), which restricts the use of six hazardous materials in the manufacturing of various types of electronic and electrical equipment, was adopted in February 2003 by the European Union and then took effect on July 1, 2006. The directive makes a significant impact on Taiwanese electronic industry which specializes in manufacturing of computer, communication, and consumer electronics products. The firms in the electronic industry should implement green supply chain management (GSCM) to avoid contraventions of RoHS. Based on the research context described above, this purpose of this study was to explore the factors that influence suppliers’ compliance with their manufacturer’s requirements while they were required to implemente GSCM. In addition, the factors explored in this study were proposed by the suppliers’ perspective. In this study, Grounded Theory was applied to develop a model explaning the factors that influencd suppliers’ compliance with their manafacturer’s requirement. Besides, to collect the data needed, data triangulation was applied in this study, including in-depth interviewswith suppliers’ and the collection of secondary data. The interviewees were the employees of the four suppliers of S company. According to the data collection and analysis steps of Grounded Theory, the model that proposes the factors affecting suppliers’ compliance with their manafacturer’s requirement was developed. The results showed that confronted with the pressures of environmental regulations, peer companies, and the customers, suppliers decided to implement GSCM after having taken the cost-benefit analysis, perceived value and perceived risk into consideration. While suppliers decided to implement GSCM, they had to meet the requirements from their manufacturer. Whether suppliers met the requirement from their manufacture was measured by the indicator, suppliers’ compliance, which referred to the ability that suppliers timely exchanged the right and complete information with their manufacturer. Thus suppliers’ compliance was composed of three dimensions, such as including information timeliness, information accuracy, and information integrity. According to the data collected, three categories of factors influencing suppliers’ compliance with their manafacturer’s requirement were discovered. The first kind of factors was suppliers’ capability, including suppliers’ capability of technology innovation, suplliers’ capability of information management and guidance between supply chain members. The second category was the characteristics of boundary spanners, including boundary spanners’ empathetic mind and their professionalism. The findings were also compared with the previous research on interpersonal communication. Similar to the results mentioned in the existing literature, the phenomenon that a person’s characteristics did impact his communication behaviors in the context of implementing GSCM was also discovered. The study makes a contribution to the research on proposing the concept of suppliers’ compliance.s. In addition, the finding points out that the communication frequency between supply chain members is not positively related to suppliers’ compliance with their manafacturer’s requirement. The findings are also helpful for manufacturing firms that usually dominate the implementation of innovations in their supply chain members.