Modeling of Inventory Management in the Budgetary Process of Industrial Enterprise
Journal Title: Бізнес Інформ - Year 2015, Vol 11, Issue 0
Abstract
The article is concerned with developing a science-based approach to the management of material and technical resources of industrial enterprise and adoption of management decisions on its basis. A two-stage economic-mathematical model of formation of the material and technical resources inventory has been built, the algorithm of its building has been described. This model can be applied to determine the inventory standards of raw materials, finished products and support resources in the budgetary process of enterprise. The calculations for two strategies of the economic entity activities has been accomplished. The differences between these strategies has been analyzed, an optimal plan for activity of enterprise has been selected. Efficiency of this approach and its advantages have been substantiated, the main directions for further research, which consist in building a model of formation of a consolidated budget of enterprise, has been identified taking into consideration the indicated approach to the inventory planning; development of an automated system on the basis of budgeting at industrial enterprise has been grounded.
Authors and Affiliations
Oleksii Parokinnyi, Alexander Yakovenko
Keywords
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