APPLICATION OF BAYESS PRINCIPLE OPTIMUM - OPTIMIZATION MODEL FOR MANAGERIAL DECISION AND CONTINUAL IMPROVEMENT
Journal Title: Polish Journal of Management Studies - Year 2015, Vol 12, Issue 2
Abstract
This contribution presents utilization of quantitative method of operational analysis - Bayes principle optimum in the area of utilizing alternative power sources. By this quantitative model we can find out solution of economic and technical difficulty in the area of biomass. Optimization of production processes brings lower cost and continual input – wood pulp for boiler plant. Following application of this model we can support decisions of processes and to optimize parameters of processes. Results of this optimization bring low cost, high quality and optimal processing time. It is direction to continual improvement in the firm that it brings competitive advantages for classification of the firm as” world-class business”.<br/><br/>
Authors and Affiliations
Katarína Teplická, Ondrej Železník
Keywords
Related Articles
- EP ID EP270171
- DOI -
- Views 51
- Downloads 0
BENCHMARKING AS A PERFORMANCE MANAGEMENT METHOD
The paper is devoted to the theoretical ground of benchmarking as a method for performance management. The concept, evolution, typology, a model and some practical aspects of benchmarking are described. Main advantages a...
ANALYSIS OF BANKING BUSINESS AND ITS IMPACT ON FINANCIAL STABILITY OF ECONOMIES IN EURO AREA
The main objective of this article is to investigate banking business and analyze factors affecting financial stability of economies and changes in these factors over time using regression model with selected statistical...
A RELATIONSHIP BETWEEN OCCUPATIONAL STRESS AND ORGANISATIONAL COMMITMENT OF IT SECTOR'S EMPLOYEES IN CONTRASTING ECONOMIES
Aim is to examine the relationship between occupational stress and organisational commitment of employees at middle and operational level. Additionally, the occupational therapists role is examined through self-developed...
ANALYSIS OF THE RELATIONSHIP BETWEEN ECONOMIC FORCES AND ABNORMAL STOCK RETURN: EMPIRICAL EVIDENCE
Financial markets plays a vital role in the Jordanian economy organizes its operations in a changing environment, which is working on the transfer of local resources through productive channels next to foreign investment...
STABILITY AND QUALITY MAP OF TOYOTA TECHNOLOGICAL PROCESSES AND ITS COMPUTER-AIDED MARKETING ANALYSIS
The subjects of the study presented in this article are production process phenomena occurring in the world of analyses, referred to as the stability and quality map in the Toyota systems – the analysis of the map in ter...