[pt] O mercado de energia do Brasileiro foi decidido com base nas suas características físicas dos anos 90, predominantemente hídrico. Apesar de ainda dominado pela geração hidrelétrica, a participação dessa fonte foi reduzida significativamente, cedendo espaço principalmente para as fontes renováveis intermitentes. Sendo assim, há uma dissonância entre o atual sistema elétrico e aquele que embasou a atual regulação. As hipóteses e aproximações adotadas para a constituição da estrutura regulatória foram baseadas em um sistema com excesso de flexibilidade e alta previsibilidade no curto prazo. A maior participação das renováveis intermitentes, e sua projeção de crescimento nos próximos anos faz com essa estrutura se torne cada vez menos aderente e suas falhas intensificadas. A falta de adaptação pode enfraquecer os sinais econômicos e ameaçar a sustentabilidade e adequabilidade do sistema no longo prazo. A consulta pública CP 33 propôs uma agenda pragmática para auxiliar no processo de modernização do setor, se tornando um dos pilares principais de leis em tramitação no Congresso sobre esse assunto. Apesar do consenso a respeito da necessidade de modernização, principalmente na adoção de um mercado de curto prazo mais competitivo, ainda existem muitas preocupações e questionamentos a respeito dos mecanismos de mercados a serem adotados. A vasta literatura e as experiências internacionais podem auxiliar muito no processo de modernização nacional. Todavia, as particularidades de cada sistema, como matriz de geração e dimensões territoriais, desafiam qualquer tentativa simplista de compatibilizar o caso Brasileiro com experiências relatadas. Dessa maneira, esse trabalho tem como objetivo 1) definir uma nomenclatura e classificar as estruturas de mercado relevantes, 2) delinear um panorama sistematizado das características que influenciaram a escolha de diferentes mecanismos de mercado 3) comparar os mercados internacionais ao mercado Brasileiro utilizando as nomenclaturas e as características físicas definidas em 1) e 2). Mercados da América do Sul e do Norte, Europa e Nova Zelândia foram selecionados para apresentar as análises comparativas. Dessa maneira, nós contribuímos com um panorama atualizado e padronizado de alguns desenhos mercados internacionais e mecanismos relevantes. Além do mais, nós conscientizamos e discutimos lições relevantes aprendidas com a experiência internacional para apoiar e fomentar a agenda de modernização do mercado Brasileiro. / [en] The Brazilian power-market design features were decided based on the system s physical and economic characteristics observed in the 90s, when the system was remarkably hydro-dominated and the economy experienced large GDP growth rates. Nowadays, the power system s capacity is still hydrodominated, albeit with a significantly lower hydro participation (64 percent), has experienced a sharp growth in variable renewable energy integration, and has faced the impacts of different economic crises. Therefore, some of the approximations and assumptions adopted for the regulatory framework based on the original system s condition and economic reality are not valid anymore. Failing to adapt the regulatory framework to the current system and economic realities may provide poor market signals, possibly threatening the long-run system sustainability. Based on the continued flaws experienced in this country, the need for a market-design review is critical and urgent in Brazil. The public consultation named CP 33 proposed a handful agenda for the Brazilian power sector modernization, which is the backbone of some bills already in progress. Despite the consensus on the modernization agenda, especially on a more short-term-based market-oriented approach, there are still many concerns and questions on which market features should be adopted. The vast literature and international experience in the subject notwithstanding, each system s particularities, challenge any simplistic attempt to match the Brazilian case with previously reported experiences. Thus, this work aims to 1) define a general market design nomenclature and classify relevant market structures, 2) draw a systematized panorama of the physical characteristics that have influenced the selection of different market designs and mechanisms in other similar markets, and 3) compare the Brazilian market design, within a common language using 1) and 2), to the international experience. Markets from South and North America, Europe, and New Zealand were selected to present comparisons between them and Brazil. Based on that, we contribute with an updated and standardized panorama of a few relevant market designs and structures. Additionally, we raise awareness and discuss the relevant lessons learned from the international experience applicable to support and foster the Brazilian market modernization agenda.

No description available.

The high cost of prescription drugs has been an issue that numerous federal agencies have examined for years. In 2003, Congress passed the Medicare Prescription Drug, Improvement, and Modernization Act, better known as Medicare Part D, in an effort to ease the burden of skyrocketing prescription prices for citizens 65 and older. While much of the discussion has focused on the impact on Medicare and Medicaid, the search for the source of high prescription drug prices has possible benefits for all patients. Unfortunately, the vast majority of research into this topic focuses only on the manufacturers of prescription drugs. This thesis examined the relationship between wholesale and retail prices of prescription drugs to discover whether this is another possible source of high prescription drug costs that policy makers need to consider. The findings suggest that more research is warranted. Many of the pharmacies surveyed reported unexpected negative mark-ups. Moreover, the Average Wholesale Rice evidently is not an accurate basis for comparison with actual retail prices. The findings suggest that more research is warranted, including studies by federal legislative and executive branch actors with investigatory authority. / Master of Arts

M.S.

Although Costco operates over 580 warehouse stores throughout North America, their location strategy remains relatively unexamined in the economic geography literature. A cursory examination of Costco’s network makes it clear that the firm chooses to locate primarily in the suburbs of major cities, where income levels are somewhat higher than the national average. However, what is not clear is the extent to which other demographic and geographic factors adequately account for Costco’s store locations, and what strategy underlies the geography of the firm’s warehouse stores, especially in relation to its distribution network. This research studies Costco in order to decode the location strategies that have guided the company’s North American and international expansions. The investigation attempts to identify key elements of Costco’s multinational retail network, including this network’s evolution over time. This paper seeks to benefit both retail business and public policymakers by highlighting elements of Costco’s location strategy that have contributed to the firm’s success.

This thesis analyses the necessity for the establishment, main functions and the viability of the Turkish Wholesale Electricity Trading and Contracting Company, TETAS in the short, mean and the long term. In order to understand the necessity for the establishment of TETAS, Turkish Energy Policies such as the state-led energy policies and the competition based market orientation are put under scrutiny. The thesis also discusses whether Turkish Government has carried out a comprehensive, deterministic and effective &ldquo / Liberalization Policy&rdquo / in the electricity sector by looking at the present situation and the principles outlined in Laws No: 4628, 5654 and 5686 and the Strategy Paper. The dissertation then examines the life span of TETAS by looking at the impacts of the strategy paper, liberalization procedure of the overall electricity market and newly enacted laws such as Law No: 5654 and 5686 in the short, mean and the long term. In addition, TETAS is examined whether it is a &ldquo / monopoly&rdquo / or not in Turkish Electricity wholesale market by calculating the supply concentration of TETAS using the Herfindahl Hirschman Index. Despite the studies on the establishment of the liberal market such as the envisagement of Law No: 4628 and the strategy paper, this thesis study envisages that it is still not possible to talk about a liberal electricity market. In addition, it is also concluded that the statements outlined in Laws No: 5654 and 5686 hinder the overall liberalization efforts since these laws are postponing the liberalization of electricity sector and making the life span of TETAS longer. As a result, liberalization efforts on the electricity market are unsuccessful in the mean term and TETAS seems to hold its dominance position in the wholesale market as a state-owned wholesale trading company in the long run.

The purpose of this research paper is to examine and evaluate the economic significance of the pharmaceutical wholesaler in South Africa’s health care industry. The pharmaceutical wholesaler experienced several challenges over the last decade. These challenges originated from changes in the competitive environment of the industry and more recent changes in the regulatory environment brought on by the State in its attempts to make medicine more accessible to the South African public. The wholesaler was forced by these changes to adapt its business model drastically in order to remain competitive. Historically the wholesaler made its profits by purchasing bulk at a discount, passing a fraction of the discount to its customers and adding a mark-up to the purchase price. It was now forced to abandon the discount and mark-up scheme and distribute medicines by negotiating a fee for the services it renders. Wholesalers now not only have to compete between themselves but also with distributors on the same basis - by negotiating logistics fees with pharmaceutical manufacturers. Operating efficiency and customer service have become essential ingredients for the wholesaler in its quest to remain competitive. / Graduate School of Business Leadership / MBL

Most contemporary South African businesses are facing tough times. This is the result of emerging trends such as intense global competition which requires businesses to be quick, agile and flexible; new technology available to any business willing to adopt it; more advanced customer expectations and the implementation of new strategic, proactive management approaches. In fact, many of them (including wholesalers) will succeed only if they can successfully integrate strategy, processes, business arrangement, resources, systems and empowered workforces to render their core business effectively. Choosing suppliers and purchasing products are critical wholesaling activities and often determine the success of wholesalers. Wholesaling institutions, however, vary considerably in size, activity, style of business, types of products provided and services rendered. These variables imply that the complexity of wholesaling activities differs. It therefore stands to reason that the level of sophistication with which these wholesalers manage their purchasing, sourcing and supply activities may differ. The level of sophistication with which wholesalers manage their purchasing, sourcing and supply function may vary from traditional management approaches to advanced integrated management approaches. The use of the new management approaches by businesses is a vital instrument in facilitating change. This leads to the development of more focused, specialised and high-performance organisations. Manufacturers are not geared to deal directly with the thousands of small retailers and therefore use wholesalers for this function. Wholesalers provide a vital link between manufacturers and retailers, and play a pivotal role in efficiency of the whole supply chain. Adapting to the supply chain management approach may thus mean the difference between success, failure and the continued existence of the wholesaler in supply chains. This research study was undertaken to determine to what extent wholesalers in South Africa have adapted to new demands and developments in their purchasing, sourcing and supply functions. Secondary to this objective was the need to (1) investigate the scope of wholesaling, with reference to the global and South African context; (2) investigate the concepts of and the evolution of purchasing to strategic sourcing as part of the broader supply chain management approach; (3) analyse the scope and concept of supply chain management; and (4) determine the purchasing, sourcing and supply management approaches used by the wholesale sector in South Africa. The study was conducted in several phases. Firstly, a literature research was conducted to gather and integrate secondary data in order to (1) expound the definitions, importance, types, activities and trends of wholesalers; and (2) investigate the development of purchasing to strategic sourcing and evolution of supply chain management, and to give an overview of purchasing, strategic sourcing and supply chain management. Secondly, a questionnaire was compiled containing all the relevant issues identified in the literature research to enable the researcher to establish how far South African wholesalers have advanced in adopting new approaches to managing the purchasing, sourcing and supply function. This questionnaire was pretested on two respondents to verify its validity, before proceeding to the next step. Thirdly, a letter and the refined and tested questionnaire were mailed to all the wholesalers identified to be involved in the survey, informing them of the research study and soliciting their cooperation. The letter requested the participants to return the questionnaire via facsimile. Fourthly, to improve the response rate, after the date for returning the questionnaire had lapsed, additional questionnaires were faxed to all the respondents who had not completed the initial questionnaire. The literature research established that the new demands and developments facing wholesalers in managing their purchasing, sourcing and supply function are a reality. Wholesalers are confronted with a variety of challenges concerning these demands and developments which is jeopardising their vital role in the supply chain, and they need to adopt a more sophisticated method of managing these activities, not only to ensure their own survival, but also to lower the costs of the wholesale operation, and ultimately allow an increase in shareholders' wealth. The empirical study, however, clearly indicated that South African wholesalers are still significantly focused on the tactical aspects of purchasing, incorporating only a few aspects of strategic sourcing and supply chain management. The position of South African wholesalers regarding the level of sophistication in their management approach to the purchasing, sourcing and supply chain management approach can be regarded as a mechanical approach, with proactive tendencies. It is therefore clear that South African wholesalers have not adapted to the strategic sourcing and supply chain management approaches, and need to prepare themselves for this change - or risk failure. / Business Management / M. Comm.

Master of Agribusiness / Department of Agricultural Economics / Allen Featherstone / Because agriculture is a cornerstone in the U.S. and World economies, the agricultural retail industry is becoming more competitive. To gain a competitive advantage, agricultural retailers must take advantage of competencies that they have. The thesis provides an in depth analysis of how FluidGro products effect the profitability of Centennial. It explores the issues impacting Ag Retail and how marketing concepts and theories can make a retailer achieve success in volatile times. Insight is provided regarding how Centennial Ag Supply can use those strategies to give them a low cost position and a differentiated product and how Centennial can improve profitability by implementing effective marketing strategies for the FluidGro brand of products. Finally, a couple of capital improvement options that Centennial Ag can invest in to increase the sales and profitability of their FluidGro product line and what impact that will have on company sales and profitability. A net present value analysis is used to analyze the capital improvements and linear regressions estimate the profitability of the FluidGro product line and how this will contribute to increased profitability to the parent company, Centennial Ag Supply. Results indicate that Centennial should first invest in a wholesale division. Next, Centennial should invest in a heat exchanger to allow it to manufacture additional products.

O objetivo do presente estudo foi avaliar o desempenho, características de carcaça e qualidade de carne de bovinos Nelore com diferentes potenciais genéticos para crescimento pós-desmama pela diferença esperada na progênie (DEP). Foram utilizados 147 machos não-castrados da raça Nelore, com peso corporal médio inicial de 412 ± 54kg e média de idade de 19 meses, provenientes de recria em sistema de pastejo contínuo. Os animais foram distribuídos em um delineamento inteiramente casualizado e divididos dois tratamentos em função do potencial genético para crescimento: 1) alta taxa de crescimento (TC+) representada pela média de 11,50 kg e 2) baixa taxa de crescimento (TC-) representada pela média de -1,0 kg. Os animais foram confinados por um período de 100 dias, sendo os primeiros 21 dias de adaptação à dieta e as instalações. A dieta continha 73% de concentrado e 27% de volumoso (silagem de milho). No início do período experimental e a cada 28 dias todos os animais foram pesados e submetidos a avaliações de ultrassonografia. A ingestão de matéria seca foi avaliada diariamente, para ajuste da oferta e avaliação da eficiência alimentar. Ao fim do período de confinamento, todos animais foram abatidos, o peso de carcaça quente e a gordura pélvica, renal e inguinal foram pesados. Após 24 horas, foi avaliado o pH final e a meia carcaça esquerda foi seccionada entre a 12ª e 13ª costelas. As meias carcaças seguiram para desossa completa para análise de rendimentos dos cortes cárneos comerciais, em seguida amostras foram retiradas do contrafilé para posterior análise de cor, perdas de peso por cozimento, força de cisalhamento, comprimento de sarcômero e análise sensorial. Houve efeito da TC sobre o peso corporal final (P = 0,04), sendo que os animais de alta TC apresentaram maiores pesos. Não houve efeito da TC para AOL, EGS e espessura de gordura da picanha (Biceps femoris) avaliados pela ultrassonografia; no entanto, houve diferença significativa para o período de coleta das imagens (P < 0,05). Com relação ao rendimento dos cortes cárneos comerciais, animais de alta TC tiveram a ponta de peito (P = 0,01) e músculo traseiro (P = 0,07) mais pesados em relação aos animais de baixa TC. A DEP não influenciou a qualidade das características sensoriais da carne dos animais exceto para a cor, sendo que os valores de L* (P = 0,03) foram maiores para animais de baixa TC, no entanto, os maiores valores de a* (P = 0,06) foram expressados pelo grupo de alta TC. Além disso, para todas as variáveis de qualidade, houve efeito do tempo de maturação (P > 0,05). Em conclusão, o potencial genético para o crescimento pós-desmama não afetou a maioria das características, incluindo desempenho, produção de carne e qualidade no final do período de terminação. / The aim of this study was to evaluated the performance, carcass characteristics and meat quality of Nellore young bulls with different genetics potentials for post-weaning growth for expected progeny differences (EPD\'s). A total of 147 Nellore bulls with average initial body weight (412 ± 54kg) and 19 months old, were distributed in a completely randomized design and divided into two groups according with growth rate: 1) high growth rate (GR+) represented by the mean of 11.50 kg and 2) low growth rate (GR-) represented by the average of -1.0 kg . The animals were in a feedlot system for a total 100 days, with the first 21 days of adaptation to the diet and facilities. The finishing diet was composed by 73 % concentrate and 27 % corn silage. At the beginning of the experimental period and every 28 days all animals were weighed and submitted to ultrasound evaluations. Dry matter intake was measured daily. At the end of the feedlot period, all animals were slaughtered and the hot carcass weigth and internal fat were recorded. After 24 hours, the final pH was evaluated and the left half carcass was sectioned between the 12 th and 13 th ribs. The half carcass was completely deboning to analyze the wholesale cuts. In addition, longissimus was sampled to analyze color, cooking loss, tenderness, sarcomere length and sensory property. There was an effect of GR on the final body weight (P = 0.04), where the group of animals with high EPD presented higher weights. There was no effect of GR for longissimus muscle area (LMA), fat thickness (FAT) and rump fat (Biceps femoris) evaluated by ultrasonography; however, there was a significant difference for the collection period (P > 0.05). Regarding the wholesale cuts, animals of higher GR had the heavier (P = 0.01) and hind muscle (P = 0.07) weights than the animals of lower GR. The GR did not influence the quality sensory characteristics of the meat of the animals except for the color, and the values of L* (P = 0.03) were higher for animals with low GR, however, the highest values of a* (P = 0.06) were expressed by the high GR group. In addition, for all quality variables, there was an effect of maturation time (P > 0.05). In conclusion, the potential genetic for growth measured post-weaning did not affect most traits, including performance, meat production and quality at the end of finishing period.