Mathematical Methods and Analysis for the Industrial Management and Business, 2nd Edition

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Financial Mathematics".

Deadline for manuscript submissions: closed (1 June 2023) | Viewed by 34207

Special Issue Editors

Department of e-Business, Faculty of Business, Economics and Statistics, University of Vienna, Oskar-Morgenstern-Platz 1, 1090 Wien, Austria
Interests: digital business; digital services; mathematical methods for service analytics; math models for service systems engineering
Special Issues, Collections and Topics in MDPI journals
Department of Information Systems, Faculty of Management, Comenius University in Bratislava, Odbojárov 10, 82005 Bratislava 25, Slovakia
Interests: functional analysis and applications; management information systems; math modelling of economic processes; business analytics
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Contemporary developments in industry and technologies progressively demand advanced mathematical method implementation and usage, since mathematics uses reasoned theories, computational techniques, algorithms and the latest computer technologies to solve the problems arising from various fields, such as economics, engineering, business and social sciences. Mathematics also focusses on problems coming from industry and creates solutions relevant to the industry, including finding the most efficient, and cost-effective, way to solve these problems. The most noticeable examples are signal processing, computer graphics, risk management, system reliability, software testing and verification, database systems, production line optimisation and marketing research. Further, as a result of the increasing complexity of the modern digital economy, it is very important to formulate precise and accurate mathematical models and implement solutions using the latest computer techniques. In addition, modern manufacturing and service industries have changed drastically due to the explosion in the knowledge economy. In particular, fast and inexpensive computing, office products, the development and utilisation of large databases and demand-refined methods to meet new requirements use industrial mathematics as a way of implementing these methods.

Accordingly, the interaction of mathematics and industry, creation of mathematical and statistical models and development of numerical methods and/or algorithms for computers to obtain solutions for real-world problems have become especially crucial for the Industry 4.0 concept and further business development.

Consequently, the goal of this Special Issue is to explore challenges as well as innovation and develop mathematical methods/models to apply them to engineering and industry. A further objective is to emphasise the linkage among mathematics, technology and business through mathematical modelling, computational techniques, statistical reasoning, analysis of structure and logical thinking. Based on these fundamentals, the purpose is to develop extended collective expertise to formulate and solve industrial management problems using math models, build knowledge of modelling and numerical techniques fundamental in industry, and to extend it by quantitative economics, analytics, as well as risk management tools.

Prof. Dr. Natalia Kryvinska
Prof. Dr. Michal Greguš
Guest Editors

Manuscript Submission Information

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Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • math modelling of economic and business processes
  • mathematical applications to enterprise management
  • math modelling and Industry 4.0
  • mathematical models for product development and manufacturing
  • cloud computing, big data, IoT and business analytics
  • math methods for efficient risk management by industrial enterprises
  • mathematical methods for service systems engineering
  • mathematical methods for service analytics
  • applied mathematics and systems reliability
  • optimisation methods and industrial management

Published Papers (16 papers)

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Research

23 pages, 2455 KiB  
Article
Universities as an External Knowledge Source for Industry: Investigating the Antecedents’ Impact on the Importance Perception of Their Collaboration in Open Innovation Using an Ordinal Regression-Neural Network Approach
by Marius Băban, Călin Florin Băban and Tudor Mitran
Mathematics 2023, 11(7), 1671; https://doi.org/10.3390/math11071671 - 30 Mar 2023
Cited by 1 | Viewed by 1363
Abstract
Within the highly complex ecosystem of industry-university collaboration in open innovation, three specific antecedents typically characterize the patterns of their interaction, i.e., motivations, barriers, and channels of knowledge transfer. However, an investigation of the extent to which these antecedents of opening up innovation [...] Read more.
Within the highly complex ecosystem of industry-university collaboration in open innovation, three specific antecedents typically characterize the patterns of their interaction, i.e., motivations, barriers, and channels of knowledge transfer. However, an investigation of the extent to which these antecedents of opening up innovation impact the perceived importance of universities as an external knowledge source to the industry is still missing in the literature. Based on a research framework developed from a review of the literature, a two-stage ordinal regression, and neural network approach was performed to investigate this impact. In the first stage, the hypotheses of the proposed research framework were tested based on an ordinal regression, and those antecedents that significantly impacted the importance perception were revealed. In the second stage, an artificial neural network analysis was carried out to capture the complex relationships among the significant antecedents and the important perception of universities as an external knowledge source to the industry. On the whole, the findings of our study expand the existing open innovation literature and contribute to a more articulate view of the collaboration between industry and university in this field by providing a first perspective on which of the three antecedents has a significant impact on this perception and how such an impact can be predicted. Full article
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21 pages, 754 KiB  
Article
Measuring E-Commerce User Experience in the Last-Mile Delivery
by Vijoleta Vrhovac, Stana Vasić, Stevan Milisavljević, Branislav Dudić, Peter Štarchoň and Marina Žižakov
Mathematics 2023, 11(6), 1482; https://doi.org/10.3390/math11061482 - 17 Mar 2023
Cited by 2 | Viewed by 4530
Abstract
This research aims to develop and to examine a measurement of customers’ experiences in the last-mile delivery process, which is a critical step towards their satisfaction and future intention to order products from the same retailer again. The CMX-LMD scale is proposed as [...] Read more.
This research aims to develop and to examine a measurement of customers’ experiences in the last-mile delivery process, which is a critical step towards their satisfaction and future intention to order products from the same retailer again. The CMX-LMD scale is proposed as a self-report tool whose psychometric properties where then examined. The total sample of N = 907 participants (63.4% females) was randomly split into two subsamples, then EFA and CFA were conducted, followed by item and correlation analysis. Six factors were revealed (Delivery efficiency, Parcel tracking, Smooth delivery, Visual appeal, Joyful anticipation, and Convenience), explaining about 60% of the total variance. The structure was supported by CFA (χ2(237) = 584.71, p < 0.001, CFI = 0.941, TLI = 0.932, RMSEA = 0.057, SRMR = 0.058). The relations of the derived scales and other variables, such as trust in courier services, were also examined. The CDX-LMD offers acceptable properties and provides a useful measurement for researchers and practitioners in the cross-section between e-commerce and logistics. Full article
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19 pages, 9423 KiB  
Article
Identification and Correction of Grammatical Errors in Ukrainian Texts Based on Machine Learning Technology
by Vasyl Lytvyn, Petro Pukach, Victoria Vysotska, Myroslava Vovk and Nataliia Kholodna
Mathematics 2023, 11(4), 904; https://doi.org/10.3390/math11040904 - 10 Feb 2023
Cited by 4 | Viewed by 1869
Abstract
A machine learning model for correcting errors in Ukrainian texts has been developed. It was established that the neural network has the ability to correct simple sentences written in Ukrainian; however, the development of a full-fledged system requires the use of spell-checking using [...] Read more.
A machine learning model for correcting errors in Ukrainian texts has been developed. It was established that the neural network has the ability to correct simple sentences written in Ukrainian; however, the development of a full-fledged system requires the use of spell-checking using dictionaries and the checking of rules, both simple and those based on the result of parsing dependencies or other features. In order to save computing resources, a pre-trained BERT (Bidirectional Encoder Representations from Transformer) type neural network was used. Such neural networks have half as many parameters as other pre-trained models and show satisfactory results in correcting grammatical and stylistic errors. Among the ready-made neural network models, the pre-trained neural network model mT5 (a multilingual variant of T5 or Text-to-Text Transfer Transformer) showed the best performance according to the BLEU (bilingual evaluation understudy) and METEOR (metric for evaluation of translation with explicit ordering) metrics. Full article
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22 pages, 5630 KiB  
Article
Random Risk Factors Influencing Cash Flows: Modifying RADR
by Oksana Hoshovska, Zhanna Poplavska, Jana Kajanova and Olena Trevoho
Mathematics 2023, 11(2), 427; https://doi.org/10.3390/math11020427 - 13 Jan 2023
Cited by 1 | Viewed by 2177
Abstract
In this article, we focus on considering different risk factors influencing the cash flows of a group of companies. A methodology is suggested for approximated consideration of both seasonal and random fluctuations in the environment, which have some impact on the overall group [...] Read more.
In this article, we focus on considering different risk factors influencing the cash flows of a group of companies. A methodology is suggested for approximated consideration of both seasonal and random fluctuations in the environment, which have some impact on the overall group activity and may be considered via modification of the risk-adjusted discount rates. The main steps of the suggested methodology are described, and the elements of the risk-adjusted discount rate are presented. Although it is the general convention to use the market rate as the discount rate in most cases, under certain circumstances—i.e., stochastic shocks related to the level of interest rates, shifts, and turnabouts in the social environment, as well as the market transformations due to annual/seasonal epidemics, the use of a risk-adjusted discount rate becomes essential. The influence of the seasonal and random changes in the general environment on the companies’ activity through modification of the discount rate is illustrated both numerically and graphically in the article, providing analysis of the impact of exogenous parameters on companies’ output, profits, net present value, and discounted payback period for the initial investment. Full article
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14 pages, 1722 KiB  
Article
Asymptotic Study of Longitudinal Velocity Influence and Nonlinear Elastic Characteristics of the Oscillating Moving Beam
by Andrii Slipchuk, Petro Pukach and Myroslava Vovk
Mathematics 2023, 11(2), 322; https://doi.org/10.3390/math11020322 - 07 Jan 2023
Cited by 1 | Viewed by 1080
Abstract
Mathematical models of the nonlinear transversal oscillations for a beam moving along its axis have been studied. These models deal with the nonlinearity of body elastic properties and with the influence of physical–mechanical and kinematic parameters on the oscillation amplitude and frequency of [...] Read more.
Mathematical models of the nonlinear transversal oscillations for a beam moving along its axis have been studied. These models deal with the nonlinearity of body elastic properties and with the influence of physical–mechanical and kinematic parameters on the oscillation amplitude and frequency of the moving one-dimensional nonlinear systems as well. A procedure for studying both cases, non-resonance and resonance oscillation regimes, has been developed. The paper focuses on the influence of the longitudinal velocity, nonlinear elastic material properties, and external periodical perturbations on the dynamical process of beam transversal oscillation. The obtained mathematical model could be applied to describe the oscillation behavior of the different types of pipelines (liquid or gas). The proposed results allow the estimation of the influence of these parameters on the amplitude and frequency of the oscillations. Mathematical analysis realized by asymptotic methods enables the prediction of the resonance phenomena and proposal of a numerical algorithm to plan the most effective operation regime. Applications of this approach in engineering, particularly to construct the corresponding elements of industrial environments and pipelines, are also discussed. Full article
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22 pages, 1278 KiB  
Article
Analysis and Forecasting of Sales Funnels
by Egor Griva, Irina Butorina, Anatoly Sidorov and Pavel Senchenko
Mathematics 2023, 11(1), 105; https://doi.org/10.3390/math11010105 - 26 Dec 2022
Cited by 1 | Viewed by 2398
Abstract
This article discusses the use of analysis and forecasting methods for sales funnels to help further decision-making. A number of objective and subjective factors preventing the wide use of various sales funnel forecasting methods are described. It has been substantiated that due to [...] Read more.
This article discusses the use of analysis and forecasting methods for sales funnels to help further decision-making. A number of objective and subjective factors preventing the wide use of various sales funnel forecasting methods are described. It has been substantiated that due to a large number of external and internal factors, perfect forecasting results cannot be obtained. It has been proved that the most accurate and suitable methods for the forecasting of sales funnels are the methods included in the group of time series forecasting methods. Recommendations have been developed to improve some of the methods that significantly increase the accuracy of the forecasted data. Using the data received from different organizations, it was possible to empirically verify the accuracy of the forecast values. The obtained results of analysis and forecasting were used for testing the methods of searching the optimal scenarios of achieving the forecast indicators. Full article
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15 pages, 1695 KiB  
Article
Intelligent Management of Enterprise Business Processes
by Mykola Odrekhivskyi, Orysya Pshyk-Kovalska, Volodymyr Zhezhukha and Iryna Ivanochko
Mathematics 2023, 11(1), 78; https://doi.org/10.3390/math11010078 - 25 Dec 2022
Viewed by 1806
Abstract
The article develops the conceptual foundations of natural and artificial intellectualization of the enterprise, as well as the combination of artificial and natural intelligence in managing business processes in the context of modern challenges of the business environment. Based on the methods of [...] Read more.
The article develops the conceptual foundations of natural and artificial intellectualization of the enterprise, as well as the combination of artificial and natural intelligence in managing business processes in the context of modern challenges of the business environment. Based on the methods of structural design, a system model of the enterprise is developed as the basis for intelligent management. Quantitative and qualitative effects of human–cyber–physical systems, which are the result of management intellectualization, are highlighted. The possibilities of using deviation and perturbation management methods in managing the state of enterprise development with the support of decision-making and implementation of an intelligent information system are considered. The features of making managerial decisions during intelligent enterprise management are considered. The place of the human factor in such intellectual management is highlighted, in particular, in terms of improving the intelligence of employees and the natural intellectualization of the enterprise. The problem of assessing and forecasting the state of enterprise development in the context of intellectual management is highlighted. In this context, the expediency of using mathematical methods of Markov process theory, using systems of Kolmogorov differential equations and their solutions, using numerical methods and applied software products is justified. This made it possible to study the dynamics of probabilities of states and stability of development of enterprises and their employees; the dynamics of probabilities of states of innovative and technological processes; scientific and technological, environmental, social and economic efficiency of a business. To test the proposed mathematical models for assessing and predicting the state of development of enterprises and their employees, appropriate studies were conducted on the sanatorium–resort complex in Truskavets (Ukraine). Full article
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24 pages, 3661 KiB  
Article
E-Commerce Website Usability Analysis Using the Association Rule Mining and Machine Learning Algorithm
by Biresh Kumar, Sharmistha Roy, Anurag Sinha, Celestine Iwendi and Ľubomíra Strážovská
Mathematics 2023, 11(1), 25; https://doi.org/10.3390/math11010025 - 21 Dec 2022
Cited by 13 | Viewed by 4516
Abstract
The overall effectiveness of a website as an e-commerce platform is influenced by how usable it is. This study aimed to find out if advanced web metrics, derived from Google Analytics software, could be used to evaluate the overall usability of e-commerce sites [...] Read more.
The overall effectiveness of a website as an e-commerce platform is influenced by how usable it is. This study aimed to find out if advanced web metrics, derived from Google Analytics software, could be used to evaluate the overall usability of e-commerce sites and identify potential usability issues. It is simple to gather web indicators, but processing and interpretation take time. This data is produced through several digital channels, including mobile. Big data has proven to be very helpful in a variety of online platforms, including social networking and e-commerce websites, etc. The sheer amount of data that needs to be processed and assessed to be useful is one of the main issues with e-commerce today as a result of the digital revolution. Additionally, on social media a crucial growth strategy for e-commerce is the usage of BDA capabilities as a guideline to boost sales and draw clients for suppliers. In this paper, we have used the KMP algorithm-based multivariate pruning method for web-based web index searching and different web analytics algorithm with machine learning classifiers to achieve patterns from transactional data gathered from e-commerce websites. Moreover, through the use of log-based transactional data, the research presented in this paper suggests a new machine learning-based evaluation method for evaluating the usability of e-commerce websites. To identify the underlying relationship between the overall usability of the eLearning system and its predictor factors, three machine learning techniques and multiple linear regressions are used to create prediction models. This strategy will lead the e-commerce industry to an economically profitable stage. This capability can assist a vendor in keeping track of customers and items they have viewed, as well as categorizing how customers use their e-commerce emporium so the vendor can cater to their specific needs. It has been proposed that machine learning models, by offering trustworthy prognoses, can aid in excellent usability. Such models might be incorporated into an online prognostic calculator or tool to help with treatment selection and possibly increase visibility. However, none of these models have been recommended for use in reusability because of concerns about the deployment of machine learning in e-commerce and technical issues. One problem with machine learning science that needs to be solved is explainability. For instance, let us say B is 10 and all the people in our population are even. The hash function’s behavior is not random since only buckets 0, 2, 4, 6, and 8 can be the value of h(x). However, if B = 11, we would find that 1/11th of the even integers is transmitted to each of the 11 buckets. The hash function would work well in this situation. Full article
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15 pages, 659 KiB  
Article
Evaluating Bank Efficiency in the West Balkan Countries Using Data Envelopment Analysis
by Aleksandra Marcikić Horvat, Nada Milenković, Branislav Dudić, Branimir Kalaš, Boris Radovanov and Alexandra Mittelman
Mathematics 2023, 11(1), 15; https://doi.org/10.3390/math11010015 - 20 Dec 2022
Cited by 5 | Viewed by 1120
Abstract
The financial systems of the West Balkan countries are mainly based on banks. For an efficient financial system, it is of immense importance that the banks operating in it do so with high levels of efficiency. Furthermore, efficiency is needed when it comes [...] Read more.
The financial systems of the West Balkan countries are mainly based on banks. For an efficient financial system, it is of immense importance that the banks operating in it do so with high levels of efficiency. Furthermore, efficiency is needed when it comes to involving banking institutions in the financial flows in order to maintain sustainability of the financial construction. The aim of this paper is to determine whether there is a difference in efficiency between the considered countries and thus to show which changes the decisionmakers have to make in order to improve the efficiency of their banking systems. We analyze data from the revised financial statements of all banks operating in Albania, Bosnia and Herzegovina, Montenegro, North Macedonia and Serbia for the period from 2015 to 2019, using loans and investment as input variables and interest income, non-interest income and net income as output variables. The results obtained from the output-oriented DEA model with a variable return to scale have shown higher efficiency levels in North Macedonia, Bosnia and Herzegovina and Montenegro, while Serbia and Albania show lower efficiency. The individual analyses have shown that in order to improve efficiency levels, improvement is needed more in the correction of the investment amounts then in loan placements. Full article
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12 pages, 1085 KiB  
Article
Analyzing the Banking Business: Relevance of Service Value for the Satisfaction and Loyalty of Consumers
by Aleksandar Šević, Jelena Zečar, Ana Nešić Tomašević, Nevenka Popović Šević, Milica Slijepčević and Branislav Dudić
Mathematics 2022, 10(24), 4645; https://doi.org/10.3390/math10244645 - 08 Dec 2022
Viewed by 1387
Abstract
This research paper defines service value as the multidimensional overall user evaluation of the efficiency of a particular service in the context of the benefits they provide, measured through satisfaction and loyalty of consumers and, in this particular case, of entrepreneurs. By distributing [...] Read more.
This research paper defines service value as the multidimensional overall user evaluation of the efficiency of a particular service in the context of the benefits they provide, measured through satisfaction and loyalty of consumers and, in this particular case, of entrepreneurs. By distributing a questionnaire comprising a set of descriptive questions and a five-point Likert scale, the authors managed to collect 281 valid responses from entrepreneurs in Serbia. Structural equation modelling was used to evaluate the impact of service value factors on satisfaction and, ultimately, loyalty. Following a confirmatory factor analysis, the authors found that quality, personal relationship, expediency, leadership, and perceived costs significantly impacted the bank users’ satisfaction, which is ultimately converted into lasting loyalty towards the dominant bank used in a daily routine or running personal business. Even though new forms of business are more and more focused on the individual and subjective attitude towards banking service, a large number of determinants still need to be identified. In this research, all hypotheses about the influencing factors were confirmed. Full article
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16 pages, 1256 KiB  
Article
DocCompare: An Approach to Prevent the Problem of Character Injection in Document Similarity Algorithm
by Anupama Namburu, Akhil Surendran, S Vijay Balaji, Senthilkumar Mohan and Celestine Iwendi
Mathematics 2022, 10(22), 4256; https://doi.org/10.3390/math10224256 - 14 Nov 2022
Viewed by 1400
Abstract
There is a constant rise in the amount of data being copied or plagiarized because of the abundance of content and information freely available across the internet. Even though the systems try to check documents for the plagiarism, there have been trials to [...] Read more.
There is a constant rise in the amount of data being copied or plagiarized because of the abundance of content and information freely available across the internet. Even though the systems try to check documents for the plagiarism, there have been trials to overcome these system checks. In this paper, the concept of character injection is used to trick plagiarism checker is presented. It is also showcased that how does the similarity check algorithms based on k-grams fail to detect the character injection. In order to eradicate the problem or error in similarity rates caused due to the problem of character injection, image processing based approach of multiple histogram projections are used. An application is developed to detect the character injection in the document and produce the accurate similarity rate. The results are shown with some test documents and the proposed method eliminates any kind of character injected in the document that tricks plagiarism. The proposed method has addressed the problem of character injection with image processing based changes in the existing methods of document-similarity check algorithms using k-grams. The proposed method can detect 100% injected character be it any alphabet of any language, The processing time for conversion, histogram projections and applying winnowing algorithm takes 1.2 sec per page on average when experimented on multiple types of document varying in size from 2 KB to 10 MB. Full article
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19 pages, 4181 KiB  
Article
Elaboration of an Algorithm for Solving Hierarchical Inverse Problems in Applied Economics
by Ekaterina Gribanova
Mathematics 2022, 10(15), 2779; https://doi.org/10.3390/math10152779 - 05 Aug 2022
Viewed by 1049
Abstract
One of the key tools in an organization’s performance management is the goal tree, which is used for solving both direct and inverse problems. This research deals with goal setting based on a model of the future by presenting the goal and subgoal [...] Read more.
One of the key tools in an organization’s performance management is the goal tree, which is used for solving both direct and inverse problems. This research deals with goal setting based on a model of the future by presenting the goal and subgoal in the form of concrete quantitative and qualitative characteristics and stepwise formation of factors. A stepwise solution to a factor generation problem is considered on the basis of mathematical symmetry. This paper displays an algorithm for solving hierarchical inverse problems with constraints, which is based on recursively traversing the vertices that constitute the separate characteristics. Iterative methods, modified for the case of nonlinear models and the calculation of constraints, were used to generate solutions to the subproblems. To realize the algorithm, the object-oriented architecture, which simplifies the creation and modification of software, was elaborated. Computational experiments with five types of models were conducted, and the solution to a problem related to fast-food restaurant profit generation was reviewed. The metrics of remoteness from set values and t-statistics were calculated for the purpose of testing the received results, and solutions to the subproblems, with the help of a mathematical package using optimization models and a method of inverse calculations, were also provided. The results of computational experiments speak to the compliance of the received results with set constraints and the solution of separate subproblems with the usage of the mathematical package. The cases with the highest solution accuracy reached are specified. Full article
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20 pages, 4024 KiB  
Article
Application of Monte Carlo Simulation to Study the Probability of Confidence Level under the PFMEA’s Action Priority
by Jia-Jeng Sun, Tsu-Ming Yeh and Fan-Yun Pai
Mathematics 2022, 10(15), 2596; https://doi.org/10.3390/math10152596 - 25 Jul 2022
Cited by 2 | Viewed by 2063
Abstract
Failure mode and effects analysis (FMEA) is the most commonly used risk evaluation tool in industry and academia. After four revisions, the US Automotive Industry Action Groups (AIAG) and German Association of the Automotive Industry (VDA) issued the latest FMEA manual, called AIAG [...] Read more.
Failure mode and effects analysis (FMEA) is the most commonly used risk evaluation tool in industry and academia. After four revisions, the US Automotive Industry Action Groups (AIAG) and German Association of the Automotive Industry (VDA) issued the latest FMEA manual, called AIAG and VDA FMEA Handbook Edition 1, in June 2019. Risk priority number (RPN) in the old-edition FMEA is replaced with action priority (AP), where the numerical evaluation of severity (S), occurrence (O), and detection (D) are referred to in the AP form for judging high (H), medium (M), and low (L) priority in order to ensure appropriate actions for improving prevention or detection control. When evaluating design (D) or process (P) in FMEA, the FMEA team has to refer to the evaluation criteria for S, O, and D, so as to reduce the difference in the evaluation reference and fairness. Since the criteria evaluation form is the qualitative rating standard with semantic judgment, evaluation errors are likely to occur when the team judges S, O, and D. The FMEA cases in this study are preceded by the confidence level (CL) of the S, O, and D evaluation standards and the setting of a confidence interval (CI) for the actual evaluation events. With discrete nonuniform distribution as the simulation setting, Monte Carlo simulation is applied several times to evaluate the probability before and after the evaluation, which is compared with the AP form to confirm the probability values of high, medium, and low priority. It provides reference for the FMEA cross-functional team, improving the originally non-AP events. Finally, the AP calculated in the simulation is compared and analyzed with the RPN sequence to verify the judgment of better actions with AP. Full article
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16 pages, 2029 KiB  
Article
Maintenance Strategies Definition Based on Systemic Resilience Assessment: A Fuzzy Approach
by Orlando Durán and Belén Vergara
Mathematics 2022, 10(10), 1677; https://doi.org/10.3390/math10101677 - 13 May 2022
Cited by 3 | Viewed by 1579
Abstract
The present paper aims to provide production systems with a decision-making tool that allows the assessment of the resilience of their equipment, processes and/or sub systems and, certainly, the system itself. The ultimate goal is to detect the critical points of a production [...] Read more.
The present paper aims to provide production systems with a decision-making tool that allows the assessment of the resilience of their equipment, processes and/or sub systems and, certainly, the system itself. The ultimate goal is to detect the critical points of a production system in order to gain strength, efficiency and resilience to face new and existing threats and challenges. In this regard, this paper presents a model that aims to calculate the resilience score of a process from various parameters and to rate it on the resilience scale using linguistic terms. In order to manage uncertainty, a fuzzy model has been put forward with the objective of being an integral tool of maintenance strategy surveillance and definition. Finally, and towards putting into practice the proposed model, a real case study, in the context of mining operations, is presented. This will help the process identify the areas/equipment for improvement and afterwards overcome weaknesses that may affect the entire system’s resilience. The aforementioned model provides great support to the decision-making process in the field of plant maintenance strategies and physical asset management. We believe that the main impact of this proposal is that through the use of this type of decision tool, the correct definition of maintenance strategies and the appropriate selection of system topologies could be made regarding the systemic resilience as an overall objective. Full article
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18 pages, 1674 KiB  
Article
Factors That Limit the Development of the Digital Entrepreneurial System in the Scale-Up Phase of the Enterprise Life Cycle
by Ivana Đaković Radojičić, Jelena Raut, Slavica Mitrović Veljković, Branislav Dudić, Silvia Treľová and Vijoleta Vrhovac
Mathematics 2022, 10(9), 1606; https://doi.org/10.3390/math10091606 - 09 May 2022
Cited by 3 | Viewed by 1650
Abstract
For the interpretation of digital entrepreneurship, the context in which the entrepreneurial process takes place plays an important role. The context emphasizes that to analyze the entrepreneurial process, it is no longer sufficient to analyze only the entrepreneurial actions, but also the environment [...] Read more.
For the interpretation of digital entrepreneurship, the context in which the entrepreneurial process takes place plays an important role. The context emphasizes that to analyze the entrepreneurial process, it is no longer sufficient to analyze only the entrepreneurial actions, but also the environment in which the entrepreneurial process takes place. The aim of this paper is to analyze the part of the context in which the entrepreneurial process takes place in the Republic of Serbia, Montenegro, Bosnia and Herzegovina and Hungary. Following the methodology of The European Index of Digital Entrepreneurship Systems (EIDES), the paper analyzes the system framework conditions, in the scale-up phase of the enterprise life cycle, in the digital dimension. The aim of this paper is a comparative analysis of three countries in transition with one country belonging to the European Union. After identifying the most developed factors, as well as the most underdeveloped factors, the paper discusses the conditions that influenced the results achieved in the four previously listed countries and why their improvement is important. Full article
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19 pages, 2021 KiB  
Article
Enterprise Compensation System Statistical Modeling for Decision Support System Development
by Artur Mitsel, Aleksandr Shilnikov, Pavel Senchenko and Anatoly Sidorov
Mathematics 2021, 9(23), 3126; https://doi.org/10.3390/math9233126 - 04 Dec 2021
Cited by 2 | Viewed by 1520
Abstract
This article raises the issue of decision support system (DSS) development in enterprises concerning the compensation system (CS). The topic is relevant as the CS is one of the main components in human resource management in business. A key element of such DSSs [...] Read more.
This article raises the issue of decision support system (DSS) development in enterprises concerning the compensation system (CS). The topic is relevant as the CS is one of the main components in human resource management in business. A key element of such DSSs is CS models that provide predictive analytics. Such models are able to give information about how a particular CS affects output, product quality, employee satisfaction, and wage fund. Thus, the main goal of this article is to obtain a CS statistical model and its formulas for determining the probability densities of resultant indicators. To achieve this goal, the authors conducted several blocks of research. Firstly, mathematical formalization of CS functionality was described. Secondly, a statistical model of CS was built. Thirdly, calculations of CS result indicators were made. Reliable scientific methods were used: black box modeling and statistical modeling. This article proposes a statistical and analytical model. As an example, a piecework-bonus system statistical model is demonstrated. The discussion derives formulas of integral estimations showing the probability density of the resulting CS indicators and the related statistical characteristics. These results can be used to predict the behavior of the workforce. This constitutes the scientific novelty of the study, which will establish significant advances in the development of DSSs in the field of labor economics and HR management. Full article
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