Journal of Applied Economic Research
ISSN 2712-7435
The Decision-Making Models Within the Manufacturing Diversification System
Trubchanin V.V.
Abstract
Abstract. The paper is aimed at developing a scientific-methodological approach to the justification of decisions within the manufacturing diversification system, which will be based on the usage of a set of optimization models that allows for decision-making in the fields of increasing manufacturing diversification potential and manufacturing diversification planning considering an enterprise’s capabilities and existing risks of weaker demand. A decision-making scheme within the manufacturing diversification system is suggested. A mathematical model is proposed for determining the priority direction for the expansion of the enterprise’s manufacturing capacity in order to increase its manufacturing diversification potential. Solving the set optimization task with the given limitations and target function with limited means allows for selecting for purchasing the resources, the increasing availability of which would enable the maximum manufacturing diversification. The model restrictions, if needed, can be complimented with the target values of certain parameters, particularly with the market share in certain markets (corresponding to the market retention strategy); volumes of sales in certain markets; sales revenue; production profitability, etc. If necessary, the suggested model can be properly modified and supplemented with the capability to take into account the factors which are not addressed in its current form. The model presented can consider different parameters which are relevant to different scenarios. Whe using the mentioned provisions in practice it is recommended to mark the data obtained through the suggested model on charts which later will be used in the generation and implementation of diversification plans and projects. The author has therefore built a scientific and methodological approach to the justification of the decisions in the manufacturing diversification system that is based on the use of a set of optimization models that allows for decision-making in enhancing manufacturing diversification potential and manufacturing diversification planning with a view on the existing capabilities of the enterprise and the threats of weaker demand.
Keywords
Key words: manufacturing diversification; manufacturing diversification potential; manufacturing diversification planning; demand contraction; managerial decision; scientific-methodological approach; optimization model; enterprise’s capability; decision m
About Authors
Trubchanin Vladimir Viktorovich – Doctor of Economics, the Leading Research Fellow, Institute of Economic Research, Donetsk, Ukraine (283048, Donetsk, Kievskiy district, Universitetskaya street, 77); e-mail: smuseconri@mail.ru.
DOI: http://dx.doi.org/10.15826/vestnik.2017.16.1.007
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