[PDF][PDF] Economic business partnerships within Industry 4.0: New technologies in management

OV Portna, NY Iershova, DA Tereshchenko… - Montenegrin journal of …, 2021 - mnje.com
Montenegrin journal of economics, 2021mnje.com
As an open system, the company operates in a complex, unstable and dynamic external
environment in terms of complex interdependence networks within Industry 4.0. This, on the
one hand, provides companies with additional opportunities to pursue their own interests
and, on the other hand, restricts their activity in the market, creates potential threats and
risks. Under these conditions, the use of analytical tools to format the information that is
essential for managing the company's activity contributes to the establishment of partnership …
As an open system, the company operates in a complex, unstable and dynamic external environment in terms of complex interdependence networks within Industry 4.0. This, on the one hand, provides companies with additional opportunities to pursue their own interests and, on the other hand, restricts their activity in the market, creates potential threats and risks. Under these conditions, the use of analytical tools to format the information that is essential for managing the company’s activity contributes to the establishment of partnership and becomes an important factor in ensuring sustainable development. The research purpose is to substantiate the use of innovative technologies in management of the company while ensuring economic business partnerships within industry 4.0. An analysis of empirical data and available research economic business partnerships has shown that collaboration with business partners enables us to build a relationship management strategy and select key business partners, and thus to affect directly the company's performance within industry 4.0. Innovative analytical tools for evaluating company suppliers (rating methods, activity-based costing (ABC), VED (vital, essential, desirable) analysis) are presented. The developed algorithm makes it possible to rank suppliers using the ABC and VEN methods and evaluate them based on the reporting matrix. We are aware that stakeholder relationships affect the company's key performance indicators such as level of profitability, indicators of business activity, amount of accounts payable and receivable. Empirical evidence shows that the value of current liabilities in the currency of Ukrainian companies' balance sheet is growing and it comprised 68.5% at the end of 2018. The same indicator for Czech companies makes up 41.6%. A large portion of current liabilities for Ukrainian companies are accounts payable. In the Czech Republic, this figure is much lower (Figure 1).
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