IDEAS home Printed from https://ideas.repec.org/a/rom/mancon/v15y2021i1p79-89.html

Some searches may not work properly. We apologize for the inconvenience.

   My bibliography  Save this article

Modeling Of Time Delayed Processes In Business Economics

Author

Listed:
  • Martina BOBALOVA
  • Veronika NOVOTNA

Abstract

The growth of mutual dependence and interconnection of markets of both national economies and multinational groups in the form of globalization processes is a typical characteristic of the current economic development. The turbulent environment of rapidly developing markets creates conditions for an increase in competition among econ omic entities, which is one of the main reasons for better allocation of factors of production and more efficient manufacturing, leading to improved competitiveness in the global market. In business practice, there are a number of phenomena characterized by changes and dynamics. Understanding the dynamics of these changes is crurial for the management decision-making since consumer behaviour changes in time these days. Therefore, we may perceive a company in a given context as a dynamic system with multiple elements and connections. In the business environment, we may consider production, consumption, investments and others to be static variables. A model of such a dynamic system is usually based on a system of differential equations describing changes of the static vector in time. This type of equations has been increasingly used in modelling of changes and motion in various scientific fields.

Suggested Citation

  • Martina BOBALOVA & Veronika NOVOTNA, 2021. "Modeling Of Time Delayed Processes In Business Economics," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(1), pages 79-89, November.
    • Handle: RePEc:rom:mancon:v:15:y:2021:i:1:p:79-89
    DOI: 10.24818/IMC/2021/01.08
    as

    Download full text from publisher

    File URL: https://conferinta.management.ase.ro/archives/2021/pdf%20IMC%202021/1%20pdf%20S1%20IMC%202021/1_8.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.24818/IMC/2021/01.08?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Fabrice Collard & Omar Licandro & Luis A. Puch, 2008. "The short-run Dynamics of Optimal Growth Model with Delays," Annals of Economics and Statistics, GENES, issue 90, pages 127-143.
    2. Aqlan, Faisal & Lam, Sarah S. & Ramakrishnan, Sreekanth, 2014. "An integrated simulation–optimization study for consolidating production lines in a configure-to-order production environment," International Journal of Production Economics, Elsevier, vol. 148(C), pages 51-61.
    3. Stephane Verani, 2018. "Aggregate Consequences of Dynamic Credit Relationships," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 29, pages 44-67, July.
    4. repec:adr:anecst:y:2008:i:90:p:05 is not listed on IDEAS
    5. Stephane Verani, 2018. "Aggregate Consequences of Dynamic Credit Relationships," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 29, pages 44-67, July.
    6. Adam Bockelie & Peter Belobaba, 2017. "Incorporating ancillary services in airline passenger choice models," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 16(6), pages 553-568, December.
    7. Geary, S. & Disney, S.M. & Towill, D.R., 2006. "On bullwhip in supply chains--historical review, present practice and expected future impact," International Journal of Production Economics, Elsevier, vol. 101(1), pages 2-18, May.
    8. Aust, Gerhard & Buscher, Udo, 2014. "Cooperative advertising models in supply chain management: A review," European Journal of Operational Research, Elsevier, vol. 234(1), pages 1-14.
    9. Govindan, Kannan & Soleimani, Hamed & Kannan, Devika, 2015. "Reverse logistics and closed-loop supply chain: A comprehensive review to explore the future," European Journal of Operational Research, Elsevier, vol. 240(3), pages 603-626.
    10. Virgiliu Midrigan & Daniel Yi Xu, 2014. "Finance and Misallocation: Evidence from Plant-Level Data," American Economic Review, American Economic Association, vol. 104(2), pages 422-458, February.
    11. Matsumoto, Akio & Szidarovszky, Ferenc, 2011. "Delay differential neoclassical growth model," Journal of Economic Behavior & Organization, Elsevier, vol. 78(3), pages 272-289, May.
    12. Bellen, Alfredo & Zennaro, Marino, 2013. "Numerical Methods for Delay Differential Equations," OUP Catalogue, Oxford University Press, number 9780199671373, Decembrie.
    13. Brandenburg, Marcus & Govindan, Kannan & Sarkis, Joseph & Seuring, Stefan, 2014. "Quantitative models for sustainable supply chain management: Developments and directions," European Journal of Operational Research, Elsevier, vol. 233(2), pages 299-312.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cannella, Salvatore & Bruccoleri, Manfredi & Framinan, Jose M., 2016. "Closed-loop supply chains: What reverse logistics factors influence performance?," International Journal of Production Economics, Elsevier, vol. 175(C), pages 35-49.
    2. Cesar Tamayo, 2017. "Bankruptcy Choice with Endogenous Financial Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 225-242, October.
    3. Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010. "Financing Development: The Role of Information Costs," American Economic Review, American Economic Association, vol. 100(4), pages 1875-1891, September.
    4. Wensi Zhang & Jing Xiao & Lingfei Cai, 2020. "Joint Emission Reduction Strategy in Green Supply Chain under Environmental Regulation," Sustainability, MDPI, vol. 12(8), pages 1-24, April.
    5. Jyoti Dhingra Darbari & Devika Kannan & Vernika Agarwal & P. C. Jha, 2019. "Fuzzy criteria programming approach for optimising the TBL performance of closed loop supply chain network design problem," Annals of Operations Research, Springer, vol. 273(1), pages 693-738, February.
    6. Zhalechian, M. & Tavakkoli-Moghaddam, R. & Zahiri, B. & Mohammadi, M., 2016. "Sustainable design of a closed-loop location-routing-inventory supply chain network under mixed uncertainty," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 89(C), pages 182-214.
    7. Michael Krapp & Johannes B. Kraus, 2019. "Coordination contracts for reverse supply chains: a state-of-the-art review," Journal of Business Economics, Springer, vol. 89(7), pages 747-792, September.
    8. Anil Jindal & Kuldip Singh Sangwan, 2017. "Multi-objective fuzzy mathematical modelling of closed-loop supply chain considering economical and environmental factors," Annals of Operations Research, Springer, vol. 257(1), pages 95-120, October.
    9. Reddy, K. Nageswara & Kumar, Akhilesh & Choudhary, Alok & Cheng, T. C. Edwin, 2022. "Multi-period green reverse logistics network design: An improved Benders-decomposition-based heuristic approach," European Journal of Operational Research, Elsevier, vol. 303(2), pages 735-752.
    10. Sgarbossa, Fabio & Russo, Ivan, 2017. "A proactive model in sustainable food supply chain: Insight from a case study," International Journal of Production Economics, Elsevier, vol. 183(PB), pages 596-606.
    11. Hua, Meina & Lai, Ivan Ka Wai & Tang, Huajun, 2019. "Analysis of advertising and a points-exchange incentive in a reverse supply chain for unwanted medications in households based on Game Theory," International Journal of Production Economics, Elsevier, vol. 217(C), pages 259-268.
    12. Weckenborg, Christian & Schumacher, Patrick & Thies, Christian & Spengler, Thomas S., 2024. "Flexibility in manufacturing system design: A review of recent approaches from Operations Research," European Journal of Operational Research, Elsevier, vol. 315(2), pages 413-441.
    13. Mohammed Alkahtani & Aiman Ziout & Bashir Salah & Moath Alatefi & Abd Elatty E. Abd Elgawad & Ahmed Badwelan & Umar Syarif, 2021. "An Insight into Reverse Logistics with a Focus on Collection Systems," Sustainability, MDPI, vol. 13(2), pages 1-22, January.
    14. Jeremy Greenwood & Juan Sanchez & Cheng Wang, 2013. "Quantifying the Impact of Financial Development on Economic Development," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 194-215, January.
    15. Syed Asif Raza, 2022. "A bibliometric analysis of pricing models in supply chain," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(2), pages 228-251, April.
    16. Cai, Ya-Jun & Choi, Tsan-Ming & Feng, Lipan & Li, Yongjian, 2022. "Producer's choice of design-for-environment under environmental taxation," European Journal of Operational Research, Elsevier, vol. 297(2), pages 532-544.
    17. Pietro De Giovanni & Georges Zaccour, 2022. "A selective survey of game-theoretic models of closed-loop supply chains," Annals of Operations Research, Springer, vol. 314(1), pages 77-116, July.
    18. Bazan, Ehab & Jaber, Mohamad Y. & Zanoni, Simone, 2017. "Carbon emissions and energy effects on a two-level manufacturer-retailer closed-loop supply chain model with remanufacturing subject to different coordination mechanisms," International Journal of Production Economics, Elsevier, vol. 183(PB), pages 394-408.
    19. Hervani, Aref Agahei & Sarkis, Joseph & Helms, Marilyn M., 2017. "Environmental goods valuations for social sustainability: A conceptual framework," Technological Forecasting and Social Change, Elsevier, vol. 125(C), pages 137-153.
    20. Heydari, Jafar & Govindan, Kannan & Sadeghi, Razieh, 2018. "Reverse supply chain coordination under stochastic remanufacturing capacity," International Journal of Production Economics, Elsevier, vol. 202(C), pages 1-11.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rom:mancon:v:15:y:2021:i:1:p:79-89. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ciocoiu Nadia Carmen (email available below). General contact details of provider: https://edirc.repec.org/data/mnasero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.