Insider understanding of country development: a novel application of Optimal Control Theory and Data Envelopment Analysis for benchmarking performance of Chilean and Brazilian companies
DOI:
https://doi.org/10.29015/cerem.578Słowa kluczowe:
Data Envelopment Analysis (DEA), Optimal Control Theory (OCT), Dynamic Efficiency, Developing Countries, Inventory Control, Production-Inventory System, Benchmarking, Best Practices.Abstrakt
Aim: If companies manage their inventory inefficiently, inventory costs can increase significantly due to shortages, overstocking, and risks. Inventory management is critical for company’s success which, in turn, impacts on countries’ development. This paper aims to investigate the efficiency of inventory control systems of companies from Brazil and Chile through Optimal Control Theory and Data Envelopment Analysis.
Design/Research methods: Data was collected from Chilean and Brazilian companies covering different industries in which both countries are mostly dependent A new approach using OCT and DEA is applied for dealing with inventory, production, and demand in Dynamic DEA model to benchmark companies’ production-inventory systems.
Conclusions/findings: The results show efficient companies among evaluated industries. Such companies are related mainly to Brazilian commerce and Chilean exports. Based on findings, it was possible to identify patterns and relationship among companies and its inventory management.
Originality/value of the article: This paper fills a gap in studies including demand, production, and inventory in Dynamic DEA by using OCT to forewarn unrealistic results and observing companies’ behavior. Besides that, this approach is particularly useful for developing countries in this context, determining benchmarks for the most inefficient firms in each sector.
Implications of the research: The results show (1) which companies should focus more on improving inventory management, (2) which companies should be used as benchmarks, and (3) it highlights the reasons of different performance of companies in each country.
Limitations of the research: For future research, it is suggested including variables and analysis of social and environmental impacts.
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Autor przenosi nieodpłatnie na Wyższą Szkołę Bankową we Wrocławiu , bez ograniczeń terytorialnych, majątkowe prawa autorskie do tego utworu w rozumieniu ustawy z dnia 4 lutego 1994 roku o prawie autorskim i prawach pokrewnych ( Dz.U. 1994, Nr 24, poz. 83 ze zm. )na zasadzie wyłączności, tj. prawo do:
a) wyłącznego używania i wykorzystania utworu w dowolnej działalności przez Wyższą Szkołę Bankową we Wrocławiu, w szczególności w działalność Biblioteki Cyfrowej uruchomionej przez Wyższą Szkołę Bankową we Wrocławiu
b) wytwarzania, utrwalania i zwielokrotniania egzemplarzy utworów wszelkimi technikami, w tym techniką drukarską, reprograficzną, zapisu magnetycznego oraz techniką cyfrową, w szczególności ich zwielokrotniania poprzez dokonywanie zapisów na płytach typu CD,
c) zamieszczenia wybranych fragmentów utworu w celach promocyjnych w publikacjach, materiałach promocyjnych, w sieci Internet oraz sieciach wewnętrznych typu Intranet Wyższej Szkoły Bankowej we Wrocławiu,
d) wprowadzania utworu do pamięci komputera Wyższej Szkoły Bankowej we Wrocławiu,
e) kopiowania i powielania utworu w technologiach fotomechanicznych lub innych znanych w dniu zawarcia umowy (fotokopie, kserokopie itp.),
f) przetworzenia dzieła na formę elektroniczną i nieograniczonego rozpowszechniania w sieci Internet.
