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Dynamic discrete inventory control model with deterministic and stochastic demand in pharmaceutical distribution
Slobodan Antić, Lena Djordjevic Milutinovic, Andrej Lisec, 2022, original scientific article

Abstract: This paper presents an inventory control problem in a private pharmaceutical distribution company from the Republic of Serbia. The company realizes that distribution within nine neighbouring countries and inventory control in the pharmaceutical supply chain is centralized. In order to constitute a conceptual model of the problem, we propose the modern control theory concept. The conceptual model is based on the specific practical assumptions and constraints of the supply chain. Thereafter, a dynamic discrete mathematical model of inventory control is formulated to reflect elements of the system and their relations. The model considers multiple pharmaceutical products, variable lead time, realized stochastics and deterministic demand, and different ordering policies (Lot for Lot and Fixed Order Quantity). Deterministic demand is represented as a sales forecast for each product per month, while stochastic demand is generated as a random variation of sales forecast in a range of ±20%. Two objective functions are defined as the maximization of the difference between planned average inventory level and realized average inventory level, and the minimization of stock-out situations. We develop a procedure for the determination of reorder points and the number of deliveries to achieve proposed objective functions. The model overcomes shortages of theoretically-based distribution requirements planning models and offers solutions to the limitations in inventory control practice. Real-life data, collected over two years, are used for the validation of the proposed model and the solution procedure. Numerical examples illustrate the model application and behaviour.
Keywords: distribution, inventory management, logistics, pharmaceutical companies
Published in DKUM: 09.08.2023; Views: 314; Downloads: 21
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Measuring sustainability in supply chains : comparative study of 15 top logistic companies operating in Slovenia
Petra Serdinšek, Lara Sladič, Matevž Obrecht, 2022, original scientific article

Abstract: Our research work refers to measuring sustainability in supply chains. First of all we will touch the topic, what means measuring sustainability in supply chain and how it can be measured. We will focus on our research area of fifteen companies, where we will investigate how much Slovenian companies deal with sustainability in their companies, how much sustainability means to them and how they measure it, if their company contributes a lot to the sustainability of supply chain or to the sustainable operation of the whole company. In recent years, have the supply chains undergone significant changes as a result of the COVID-19 crisis, which has forced companies to change the way of their operating in order to make their supply chains more efficient. The COVID-19 crisis has therefore made companies realize that they need to move to a circular economy, as it has shown the disruption or vulnerability of current supply chains. About sustainability is more and more speech and also more and more companies are recognizing its importance, because sustainable supply chain affects to the entire production process, from the sourcing of raw materials to the recycling of products or raw materials, if this is possible. A sustainable supply chain increases a company’s competitiveness and also reduces costs for the company.
Keywords: sustainable supply chain, supply chain management, logistics companies, sustainable development
Published in DKUM: 13.07.2023; Views: 216; Downloads: 21
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Corporate governance of slovenian and german telecommunications companies
Natalija Pauman, 2019, master's thesis

Abstract: In the master’s thesis we researched corporate governance and the quality of corporate governance. Corporate governance and management of organizations stem from the need and the desire for the existence and development of an organization. It is necessary to establish certain kind of monitoring and controlling in organizations, which we define with the term “corporate governance”. Corporate governance is the system of regulating and controlling corporate conduct and of balancing interests of all shareholders and other stakeholders to which company has influence. The interests of directors and shareholders may be in contrast. The purpose of corporate governance is to find a way to satisfy the interest of both, the board of directors and the shareholders, and at the same time to create long-team and sustainable growth for the company. Corporate governance is extremely important for individual organizations and, consequently, for their business. Compering different organizations, their corporate governance is done in different ways. Corporate governance in developed countries and leading economies is certainly different than in smaller and less developed countries. In this case, arises a question what kind of corporate governance can be labelled as “good” or “first-class” corporate governance. In order to improve corporate governance practices, various legal regulations and other forms of binding and less binding rules, recommendations, codes and standards have been developed. Quality is extremely important for organizations, therefore several methods, methodologies and indexes for measuring the quality of corporate governance have been developed. The purpose of methods is to evaluate and compare the quality of corporate governance between individual companies and between different countries. The results can serve for developing measures to improve corporate governance practices. At the same time, findings can serve to modify and supplement existing legislation and recommendations. The corporate governance index, as a measure of the quality of corporate governance processes, can also be one of the important indicators of the company's potential in order to access to new sources of capital and to reduce the capital´s costs in comparison with other companies. The main purpose of the master's thesis is to study corporate governance and its impact on the business of Slovenian and German telecommunication companies. We make comparison between following companies: Telekom Slovenije, d.d., A1 Slovenija, d.d., Deutsche Telekom AG and Telefónica Deutschland Holding AG. The quality of corporate governance in selected companies was measured with the SEECGAN methodology and index. The methodology was designed to measure the quality of corporate governance. It ensures transparency and provides a structured overview of the main areas of corporate governance between different companies. In empirical part of master’s thesis, we found out that Telekom Slovenije, d.d. has "first-class" quality of corporate governance, A1 Slovenia, d.d. has a "good" quality of corporate governance, Deutsche Telekom AG has a "first-class" quality of corporate governance and Telefónica Deutschland Holding AG has a "good" quality of corporate governance. We found out that both countries have companies with “first-class” and “good” corporate governance. The quality of corporate governance is not related to the national origin or country of operation of the company. One of the main finding of the analysis is that there are no significant differences between the quality of corporate governance in specific areas of SEECGAN index in Slovenian and German companies.
Keywords: corporate governance, quality of corporate governance, telecommunication companies, public stock companies, SEECGAN index and methodology, measuring the quality of corporate governance
Published in DKUM: 24.10.2019; Views: 1019; Downloads: 105
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Innovating in a Startup: Germany versus Slovenia
Martina Repnik, 2018, undergraduate thesis

Abstract: Startup companies are enterprises, which are created with the purpose of growth. The driving force of their growth is innovation, which contributes to the competitive advantage of companies in general. Those companies that have a competitive advantage over other companies can exist on a larger scale: they can employ a greater number of workers which contributes to lower unemployment rates in national economies. That is why startup companies are so important for a country’s well-being, and it is crucial for governments that want economic growth to support them. The most efficient way the government can support startups is through creating the right environment where they can exist and develop. There are different factors that contribute to an overall efficient environment; the most relevant one for this thesis is innovation activity. In the thesis, all the relevant factors were analyzed and the chosen countries (Germany and Slovenia) were compared based on their scores. This way, a more startup-friendly business environment was established. Moreover, interviews with startups from each observed country were conducted to further confirm/deny the theoretical conclusions established in the thesis. From all the information gathered, both theoretical and practical, our assumption that Germany has a better ecosystem for startups to exist in was confirmed.
Keywords: startup companies, entrepreneurship activity, startup ecosystem, national culture, innovation, innovation activity
Published in DKUM: 23.11.2018; Views: 1024; Downloads: 84
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Minority shareholder protection in group of companies and its effect on the economic growth : the case of Slovenia
Til Rozman, 2014, original scientific article

Abstract: Building on some of the key findings of the so-called law matters theory and its criticism, and taking into account that the economic growth of the Slovenian economy is weak, this paper emphasizes the importance of the minority shareholder protection for the economic growth. Since a group of companies has become the prevailing form of large enterprises, the focus of the paper is on the outside minority shareholder protection. Although groups of companies are a well-known and established topic in several law sectors at the national and the EU level (competition law, tax law, labour law etc.), they are only seldom the subject of the national or EU company law. However, Slovenia is one of only a few member states that have codified company law relating to group of companies. This paper finds that Slovenian normative framework provides a comprehensive protection for outside minority shareholder. As it is especially the enforcement matters that are relevant, not only the codified law (in books), further research on the Slovenian company law relating to group of companies is legitimate and necessary, and should revolve around the question of whether the regulation has achieved the desired objectives in the practice.
Keywords: minority shareholder protection, group of companies, economic growth, corporate governance, Slovenian law relating to group of companies
Published in DKUM: 02.08.2018; Views: 1377; Downloads: 61
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Technological systems (TS) waste minimization, waste-free and environmentally friendly production
Manuela Ingaldi, Dorota Klimecka-Tatar, 2016, independent scientific component part or a chapter in a monograph

Keywords: technological systems, waste management, emission, pollution, companies
Published in DKUM: 11.05.2018; Views: 1777; Downloads: 71
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Thinking in target audiences – using impulses from competitive constraints and stakeholders
Edeltraud Günther, Daria Meyr, 2016, independent scientific component part or a chapter in a monograph

Keywords: environmental management, ecology, stakeholders, companies
Published in DKUM: 11.05.2018; Views: 926; Downloads: 88
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Risk management according to ISO 31000
Borut Jereb, Matjaž Knez, Darja Kukovič, Tina Cvahte Ojsteršek, Matevž Obrecht, 2016, independent scientific component part or a chapter in a monograph

Abstract: Organizations of all types and sizes face internal and external factors and influences that make it uncertain whether and when they will achieve their objectives. The effect this uncertainty has on an organization's objectives is «risk». Although the practice of risk management has been developed over time and within many sectors in order to meet diverse needs, the adoption of consistent processes within a comprehensive framework can help to ensure that risk is managed effectively, efficiently and coherently across an organization. The generic approach described in this International Standard provides the principles and guidelines for managing any form of risk in a systematic, transparent and credible manner and within any scope and context. All activities of an organization involve risk. Organizations manage risk by identifying it, analysing it and then evaluating whether the risk should be modified by risk treatment in order to satisfy their risk criteria. Throughout this process, they communicate and consult with stakeholders and monitor and review the risk and the controls that are modifying the risk in order to ensure that no further risk treatment is required. ISO 31000 describes this systematic and logical process in detail. (IS0 31000, 2009).
Keywords: risk management, risk analysis, risk evaluation, business, organizations, companies
Published in DKUM: 10.05.2018; Views: 1397; Downloads: 111
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Borut Jereb, Matjaž Knez, Darja Kukovič, Tina Cvahte Ojsteršek, Matevž Obrecht, Bela Musatkina, Marina Zhuravskaya, 2016, independent scientific component part or a chapter in a monograph

Abstract: Logistics means comprehensive management of all activities necessary to move products through the supply chain. For a typical product this chain extends from raw material extraction through the various stages of production and distribution systems to the point of use and the associated feedback loop. The main objective of logistics is the coordination of logistics activities so that the minimum cost of meeting the requirements of customers.
Keywords: logistics, governance, business, organizations, companies
Published in DKUM: 10.05.2018; Views: 1173; Downloads: 111
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Supply chain management and logistics
Borut Jereb, Matjaž Knez, Darja Kukovič, Tina Cvahte Ojsteršek, Matevž Obrecht, 2016, independent scientific component part or a chapter in a monograph

Keywords: supply chain management, value chain, logistics, business, organizations, companies
Published in DKUM: 10.05.2018; Views: 1212; Downloads: 376
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