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
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