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- Reducing operational costs in a manufacturing system that incorporates
quality assurances, probabilistic failures, overtime and outsourcing
Authors: Wirda Novarika; Sony Bahagia Sinaga, Satria Yudha Prayogi
Abstract: This research focuses on the dynamic landscape of today's competitive market, where production management must meet clients' expectations for high-quality products and shorter lead times while managing internal disruptions due to inevitable defects and unpredictable equipment failures. Achieving these operational goals without compromising product quality, missing deadlines, or experiencing production disruptions is essential for minimizing operational expenses. The study examines the dynamics of the system's operating costs through the development of models, mathematical formulations, optimization techniques, and algorithm proposals. It demonstrates the system's convexity and establishes the optimal batch time for implementing the proposed methodologies. The research results show relevant failure costs of 3.51 %, overtime added costs of 4.57 %, outsourcing setup costs of 0.73 %, outsourcing variable costs of 41.82 %, quality-related costs of 2.98 %, in-house variable costs of 40.42 %, and in-house holding costs of 3.55 %. The study develops strategies for optimal overtime use to meet production targets without excessive labor costs and provides a structured framework for making informed outsourcing decisions that balance cost savings with quality and reliability considerations. Overall, the research provides a robust framework for reducing operational costs while maintaining or improving the quality and reliability of manufacturing processes
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Designing a toolset for assessing and implementing the potential of
energy-saving economic development of enterprises
Authors: Valentyn Lesinskyi; Olexandr Yemelyanov, Oksana Zarytska, Tetyana Petrushka, Nataliia Myroshchenko
Abstract: The object of this study is the evaluation and implementation of the potential of energy-saving economic development of enterprises. The task to design an effective toolkit for evaluating and implementing the specified potential was resolved. The theoretical principles of formation and measurement of the level of energy-saving economic development of enterprises have been substantiated. A procedure for assessing the potential of energy-saving economic development of companies has been devised. This procedure involves determining the possibilities of enterprises to ensure simultaneous growth of economic results and the level of energy efficiency through the development and implementation of an optimal program of measures for such growth. The mechanism for implementing the potential of energy-saving economic development of enterprises on the basis of identifying and overcoming the main obstacles that appear on the way to such development has been improved. The proposed theoretical and methodological approaches to the assessment and implementation of the potential of energy-saving natural gas economic development of enterprises was verified on a sample of 110 enterprises in the western region of Ukraine. In particular, it was established that the estimated potential of energy-saving natural gas economic development of the studied enterprises is very high. In particular, for more than 50 % of enterprises in all three industries, the value of this potential exceeds 6 %. At the same time, enterprises with a higher level of energy-saving economic development in the reporting period were characterized by a smaller value of this potential at the end of that period. The toolkit proposed in this study could be used by enterprises of all types of economic activity when assessing the potential of their energy-saving economic development and when devising measures to implement the specified potential. This would help improve the economic efficiency of companies
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Revealing the influence of systemic risks in the development of
enterprises on updating their investment position under entropy conditions
Authors: Svitlana Mushnykova; Viktoriia Prokhorova, Anatoliy Babichev, Iryna Abernikhina, Olena Karlova, Nataliia Babiak
Abstract: This study identifies the impact of systemic risks on the company's strategic development prospects through attracting investments and ensuring their insurance protection. The company's strategic development model predetermines the level of its investment activity at various stages of the life cycle. This is important because there is an urgent need for the Ukrainian economy to attract foreign investment for the post-war reconstruction of the country. But there are objective difficulties associated with the complication of actualizing the investment position of enterprises in the leading sectors of the economy, taking into account the challenges and threats caused by the military aggression of the Russian Federation. Conditions of entropy, which indicate unpredictability and variability in the business environment, expose enterprises to great risks. It was determined that the investment position of the business entity should correlate with the strategic model of its development and represent a balanced mechanism. This has made it possible to reasonably systematize the risk of investment activities and approaches to their management. Statistical analysis became the basis for evaluating the dynamics of direct and capital investments in the leading sectors of the Ukrainian economy. The results gave grounds for asserting a significant deterioration of the investment climate in Ukraine as a result of the war. The level of direct and capital investments is low. We focused attention on the possibility of flexible adjustment of strategic development plans to unforeseen risks. The proposed recommendations, unlike existing ones, consist of a combination of state and market levers to stimulate investments in the economy of Ukraine. Existing military risks restrain the investment activity of stakeholders. Therefore, the conditions for the practical implementation of the mechanism of distribution and reduction of risks are the formation of insurance protection of investments for investors
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Improving regulatory directions for financial stimulation of innovative
investment in the European Union
Authors: Bohdan Hnatkivskyi
Abstract: The object of this study is the existing systems of regulatory identification of forms and methods of financial support and stimulation of innovative investment within the European Union. For the purposes of the study, existing approaches to determining the content of state policy in the field of innovative investment within the European Union were summarized. The existing methods and procedures of financial stimulation and innovative investment have been studied, their advantages and disadvantages were determined. It was established that the existing systems of support for innovative investment do not fully meet the needs of participants in innovative relations. The expediency of improving the existing methods of regulatory fixation of methods of financial stimulation of innovative investment is substantiated. The concept of the structure of the regulatory policy of innovative investment within the European Union has been proposed. Directions for improving current international agreements and treaties of the European Union in the field of innovative investment have been formed in the part related to the formation of a system of means of financial stimulation of innovative investment. An indicative system of promising means, methods, and techniques of financial stimulation of innovative investment has been defined. The research is aimed at the formation of general theoretical foundations for improving the regulatory system of innovative investment, as well as the analysis and systematization of existing methods and techniques for identifying means of financial support for innovative investment. The research results could be used in the formation of international regulatory acts, acts of the national level, and serve as a basis for further scientific research on these issues
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Assessing the efficiency of the effect of innovations on the development
of grain processing enterprises
Authors: Lyailya Yessakhmetova; Gulnar Dzholdasbaeva, Ainura Saurukova, Meruert Sauranova, Aigul Alibekova
Abstract: This study evaluates the impact of the introduction of deep grain processing on the development of grain processing enterprises. The main problems of processing grain crops in the Republic of Kazakhstan have been considered. The need to assess the impact of the innovative process of enterprise development was outlined. The research was carried out in the North-Kazakhstan region; the object of the study was the grain processing industries in the North-Kazakhstan region. The results show the following: 1) total cost savings when expanding the level of gluten consumption (up to 3 % by weight of the volume of flour consumed) will save USD 18.5 billion. The savings are due to the significant improvement in the baking properties of the flour when adding 1−3 % gluten to the level of the highest quality wheat flour. At the same time, due to the manufacturability of the process and the use of the lowest quality raw materials, the unit cost of gluten in terms of protein is lower than the price of high-quality wheat necessary for baking; 2) in the processing of starch and amino acids, grain starch is the main product of world trade among all goods of the grain processing industry, and gluten ranks only second in terms of world imports. The share of issued patents in the area of starch production is also leading among the sectors of deep grain processing; 3) the implementation of the developed project for deep processing of grain in Northern Kazakhstan could significantly improve the indicators of innovative development of the country: the increase in innovative products of the manufacturing industry in the country as a whole would be 19.1 %. The growth of non-resource exports would equal 1.5 %. The annual increase in the enterprise's revenue could be about USD 0.47 per USD 1 of investment costs compared to the base scenario for the sale of unprocessed wheat. The scope of practical application of the results extends to the grain industry. The project has a significantly wider range of manufactured products and is focused on the markets of neighboring countries, which could reduce export risks to a minimum and provide stable demand for the company’s products
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Features of the application of geoinformation systems to increase the
yield of agricultural land
Authors: Aigul Shaimerdenova; Faya Shulenbayeva, Adaskhan Daribayeva, Karylgash Chakeyeva, Aziya Kulubekova
Abstract: The main problems in the effective use of land resources as an important factor of the country's development and population's food security are considered. The study was conducted in the northern region of the Republic of Kazakhstan. The object of the study was grain-growing farms in the Akmola region. The study concluded that satellite imagery and unmanned aerial vehicles should be used to monitor crops and assess yields in the Akmola region. These technologies allow for more efficient land management, prompt response to problems and informed decision-making. The experience of GIS application in the United States consists in the formation of database systems for all soil types that are of economic importance. There are 4 national soil databases, as well as several automated soil databases containing data on more than 13,400 soil varieties. The country's Soil Conservation Service has created soil geographic databases, including a geographic database on soil surveys, state soil associations, and major land resource areas. The economic efficiency of land conservation measures will be determined by the amount of net income, taking into account the prevented environmental damage in value form, using the efficiency coefficient of environmental costs relative to the total production and environmental costs. The acreage area in the Akmola region on average for 2018–2023 amounted to 26,264.32 thousand hectares, the average actual crop yield was 12.5 centner/ha. Based on the given system of formulas, the estimated crop yield on non-eroded soils (Yn) is 13.5 centner/ha, and the crop shortfall (V) due to land erosion is 871.88 thousand centners of grain, which is 69,750 thousand tenge at an average grain price of 80,000 tenge/t
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Assessing the efficiency of using precision farming technology and remote
monitoring of weather conditions in the activities of agricultural
enterprises
Authors: Alexandr Neftissov; Andrii Biloshchytskyi, Yurii Andrashko, Volodymyr Vatskel, Sapar Toxanov, Myroslava Gladka
Abstract: The object of this study was the technology of precision agriculture and remote monitoring of weather conditions. The task to evaluate the effectiveness of using precision farming and precision irrigation technologies in the activities of agricultural enterprises under different conditions, in particular, different climatic and weather conditions, has been considered. To solve the task, a hardware-software system for smart irrigation and remote monitoring of weather conditions in the activities of agricultural enterprises during the cultivation of agricultural crops was designed and described. Results of the system's performance were analyzed in the activities of the Ukrainian agricultural company, which grew potatoes of various varieties in the Kyiv oblast (Ukraine) from 2021 to 2023. The results show that the average yield of potatoes of different varieties without irrigation for three years of observation was 29.74 t/ha, with irrigation – 48.99 t/ha, and with smart irrigation – 55.26 t/ha. At the same time, in the latter case, water, human, and financial resources were saved. The increase in yield with smart irrigation compared to yield with conventional irrigation over the three years of observation was on average 12.8 %. According to the results of the implementation of the hardware-software system for smart irrigation and remote monitoring of weather conditions in Ukraine, the effect of the possible implementation of this system by agricultural companies in the Republic of Kazakhstan was analyzed. The forecast of the average yield of potatoes for the period from 2024 to 2026 was built based on the model of linear weighted moving average, taking into account corrections in the case of using smart irrigation. Data on potato yield from 1990 to 2023 were chosen as the basis. The use of smart irrigation according to the described technology could increase the yield of potatoes of various varieties on average from 31.71 t/ha to 35.78 t/ha in comparison with the forecast values of yield without irrigation at the level of 19.25 t/ha. This confirms the need to apply the transfer of precision farming technologies to increase the yield of agricultural crops, in particular potatoes, and the productivity of agricultural companies
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Identifying the impact of absorptive capacity, new product development,
and marketing capabilities on digital marketing adoption and new product
performance in Indonesian SMEs
Authors: Edy Yulianto; Supriono Supriono, Aniesa Samira Bafadal
Abstract: This study investigates the impact of absorptive capacity on enhancing the performance of SMEs through new product development, marketing capabilities, and the adoption of digital marketing. The research problem addresses how absorptive capacity influences these factors to improve new product performance. A quantitative approach was employed, collecting data from 212 SMEs in three cities in East Java Province, Indonesia. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that critical factors influencing new product performance include the ability of SMEs to absorb external knowledge (indicator AC3, loading factor 0.852), new initiatives in product development (indicator NPD4, loading factor 0.886), and strong marketing strategies (indicator MC3, loading factor 0.878). Further analysis reveals that absorptive capacity positively and significantly affects new product development (ß=0.763; p-value<0.05) and marketing capabilities (ß=0.724; p-value <0.05) but has a negative and insignificant effect on digital marketing adoption (ß=–0.102; p-value>0.05). However, digital marketing adoption positively and significantly impacts new product performance (ß=0.628; p-value<0.05). These findings suggest that while absorptive capacity is crucial for new product development and marketing capabilities, it is insufficient to drive digital marketing adoption. The results highlight the important but not significant mediating role of digital marketing adoption. The practical implications provide guidance for SMEs to adjust their marketing strategies and new product development to improve performance, particularly during a crisis
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Defining patterns in the implementation of digital marketing of innovative
products in order to improve the level of financial results
Authors: Yuliia Tataryntseva; Ruslan Kryvobok
Abstract: The object of research is digital marketing of innovative products. The problem addressed in the study was the need to define digital marketing tools for the promotion of innovative products in order to increase the financial results of enterprises. The specificity of digital marketing of innovative products, which have their own specificity, has been clarified, including the need to explain the benefits of new technologies to consumers. The results of the research revealed that the study of the target audience using analytical tools allows better optimization of marketing campaigns. It has been proven that the substantiation of the expenditure budget based on the method "from the achievement of goals" provides effective use of marketing resources and flexibility in case of changes in market conditions. The advantages of this budgeting method have been revealed, which makes it possible to clearly define marketing goals and direct resources to achieve them. This ensures optimal use of marketing resources. On the basis of regression analysis, the influence of expenses on various digital marketing tools on the total income of the enterprise was determined. Verification of the guidelines included an assessment of the impact of various digital marketing tools on total revenue. Based on the regression analysis, it was established that the costs of setting up a website and search advertising, advertising in social networks and email marketing showed a significant positive impact on the total income of the enterprise. However, spending on content marketing revealed a negative effect. The identified dependences made it possible to accurately assess the impact of each marketing tool on the total revenue of the enterprise, which is critical for effective planning of marketing campaigns and cost optimization
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Devising an integrated methodology for energy safety assessment at an
industrial power-generating enterprise
Authors: Viktoriia Prokhorova; Mykola Budanov, Pavlo Budanov
Abstract: This paper’s research object is a process of estimating the level of energy safety at an industrial enterprise within an electricity-power system at a microeconomic level. The task to estimate the energy safety of an industrial enterprise was solved on the basis of a combined method for the continuous monitoring of threats under an automated mode to the hour, in order to make management decisions related to reducing the influence of threats to energy safety. Analysis of known methods for investigating the state of energy safety was performed, which revealed the lack of continuous control over the dynamic state of research objects, as well as the complexity in objectivity when giving exact and reliable primary information to calculate indicators-indexes. It has been shown that the use of the combined approach could underlie the development of methodology for estimating the energy safety of industrial power-generating enterprise. Such approach involves comprehensive combination of logical methods when implementing continuous monitoring of technological parameters at generation, transmission, distribution, and energy consumption facilities. The process of choosing the objects of research and criteria for describing their properties and functions has been substantiated, in order to build the system of indicators-indexes when estimating the level of enterprise energy safety. It has been shown that a computation algorithm makes it possible to monitor the dynamics of changes in indicators and take a management decision to eliminate energy safety threats, which leads to a reduction in economic losses in the amount exceeding USD 150,000. Practical significance of the current research relates to the fact that the results could be used by enterprises (public authorities) for determining obstacles on a way to reducing the consumption of power resources and devising a set of organizational-economic measures
PubDate: Fri, 23 Aug 2024 00:00:00 +030
- Forming the conceptual foundations of a sustainable development accounting
system and reflecting its results in reporting
Authors: Tasneem Mohammad Khalaf Alsarayrah; Khaled Ahmad Haroun Alhasanat, Oleh Sokil, Valeriy Zhuk, Yana Sokil
Abstract: The subject of this study is sustainable development accounting, particularly its role in shaping environmental and social indicators of enterprises. The paper pays special attention to the issue of insufficient integration of environmental and social aspects into conventional financial accounting. It identifies the need to devise methodologies that include social and ecological indicators in financial reporting, to provide a more comprehensive understanding of the impact of enterprise activities on society and the environment. The results demonstrate that the implementation of sustainable development accounting allows for a comprehensive assessment of the financial, social, and environmental impact of the enterprise. Analysis of sources proves that enterprises that use this approach have better opportunities for risk forecasting and resource management, which increases their competitiveness and responsibility to society. The interpretation of the results emphasizes that the success of sustainable development accounting is conditioned by the ability to integrate comprehensive data about the impact of enterprise activities on the environment and society into the general management system. Such integration allows enterprises not only to meet regulatory requirements but also to enhance their overall value and image. The features and distinctive characteristics of the results are that they enable companies to conduct more transparent and responsible business. The implementation of sustainable development accounting systems gives enterprises the ability not only to reduce the negative impact on the environment but also to effectively engage resources to address social issues. The domain of practical application of the results extends to corporate governance, socially responsible business, investment analysis, and environmental assessment. It includes internal and external regulation, stakeholder requirements, and strategic planning at enterprises
PubDate: Fri, 05 Jul 2024 00:00:00 +030
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