Odnos između složenosti i fleksibilnosti proizvodnih struktura

The aim of this paper is to contribute to the development of procedures for the design of effective production structures of an enterprise. In order to do this, the paper focuses on two main aspects. Firstly, the paper considers the possibilities of making production structures more manageable by means of lowering the degree of complexity of those structures. Secondly, the focus is on ways of enabling those structures to adapt to changes in the environment, i.e. on flexibility. Complexity of a production structure is a characteristic defined by the number of structural elements and their interdependence. Flexibility of production structures is observed through three components: technological component, capacity component and flexibility of flows.Cilj članka je prilog razvoju postupaka za dizajniranje efektivnih proizvodnih struktura poduzeća. U tom smislu člnak se fokusira na dva bitna aspekta: prvi je razmatranje mogućnosti uspostavljanja proizvodnih struktura visoke pogodnosti upravljanja putem sniženja stupnja njihove složenosti, a drugi je dizajniranje proizvodnih struktura osposobljenih za prilagođavanje promjenama u okolini, odnosno za potrebnu i dovoljnu fleksibilnost. Složenost proizvodnih struktura se definira putem broja elemenata strukture i njihovim međusobnim uvjetovanjem, dok se fleksibilnost proizvodnih struktura razmatra u svjetlu tri komponente: tehnološke komponente, kapacitivne komponente i fleksibilnosti proizvodnih tokova

Risk transfer solutions for the insurance industry

The paper focuses on the traditional and alternative mechanisms for insurance risk transfer that are available to global as well as to domestic insurance companies. The findings suggest that traditional insurance risk transfer solutions available to insurance industry nowadays will be predominant in the foreseeable future but the increasing role of alternative solutions is to be expected as the complementary rather than supplementary solution to traditional transfer. Additionally, findings suggest that it is reasonable to expect that future development of risk transfer solutions in Serbia will follow the path that has been passed by global insurance industry

PROCJENA TRŽIŠNOG RIZIKA PRIMJENOM METODA POVIJESNE SIMULACIJE U PERIODU RASTA BURZOVNIH POKAZATELJA NA BEOGRADSKOJ BURZI

In Serbia there existed a period of investment growth, which reflected itself on the growth of stock market indices. The aim of this paper is to evaluate market risk at the Serbian market in period of investment growth, applying the method of historical simulation to a portfolio consisting of shares that are continuously traded at the Belgrade Stock Exchange, for which the data existed, since the Serbian stock exchange market is a young one, practically beginning. Method verification was carried out at different confidence levels, which demonstrated that the method underestimated the risk for the confidence level of 99%.U Srbiji je postojao period rasta investicija, koji se odražavao i na rast burzovnih pokazatelja. Cilj ovoga rada je da procijeni tržišni rizik u periodu rasta burzovnih pokazatelja na srpskom tržištu, primjenom metoda povijesne simulacije, na portfolio koji se sastoji od svih akcija kojima se kontinuirano trgovalo na Beogradskoj burzi a za koje su u danom trenutku postojali potrebni podaci, obzirom da je srpsko burzovno tržište bilo mlado tj. praktično u nastajanju. Izvršena je verifikacija modela na više nivoa pouzdanosti koja je pokazala da je model podcijenio postojeći rizik na nivou pouzdanosti od 99%

Application of Predictive Models for Natural Gas Needs - Current State and Future Trends Review

Nowadays, in terms of trading on the world scale, to foresee a natural gas consumption represents an essential activity. In the first part, the paper examines the current state of the Serbian natural gas sector and methodology applied for prediction and capacity planning. In addition, the study intends to give a comprehensive assessment of predictive algorithms for natural gas needs involved in the last decade with projections and suggestions for future applications. The primary task is to evaluate used predictive models with an emphasis on the accuracy of the predictions obtained. Additionally, the paper will analyse used parameters, consumption scale, prediction scope, forecast algorithms, and other related information. The main objective of this study is to review the new-fangled information related analyses data from peer-reviewed journals, international conferences, and books

POSLJEDICE FINANCIJSKE KRIZE NA INDUSTRIJU OSIGURANJA – GLOBALNA I REGIONALNA PERSPEKTIVA

This paper analyses the impact of global financial crisis on individual functional operations and resulting insurance industry\u27s relationships with regulators, rating agencies, insureds, reinsurers and capital market investors in order to determine current insurance industry position and to derive a conclusion on necessary measures that have to be taken by insurance companies. The research results indicate that global financial crisis has negative impact on all aspects of insurance companies\u27 business and suggest the need to focus on core business activities and the necessity of further improvement of holistic risk and capital management of global and regional insurers with the aim to overcome problems imposed by financial crisis.U radu se analizira utjecaj svjetske financijske krize na pojedinačne funkcionalne operacije i iz njih proizlazeće međuzavisnosti industrije osiguranja sa regulatorima, rejting agencijama, osiguranicima, reosiguravateljima i investitorima na tržištu kapitala u cilju determiniranja sadašnje pozicije industrije osiguranja te na bazi toga donošenja zaključka o neophodnim mjerama koje osiguravajuće kompanije trebaju poduzeti. Rezultati istraživanja ukazuju da svjetska financijska kriza ima negativnog utjecaja na sve aspekte poslovanja osiguravajućih kompanija i sugeriraju potrebu fokusiranja na izvorne poslovne aktivnosti i neophodnost daljeg unapređenja holističkog upravljanja rizikom i kapitalom globalnih i regionalnih osiguravatelja u cilju svladavanja financijskom krizom nametnutih problema

Automation of Process Performance Management in a Company

The paper describes the automation of process performance management in a particular company, using specially developed client application. Performance management process is based on an analysis of data from the process. The main problem, of analysis in real cases, is the low availability of data from the process and the impossibility of obtaining the analysis results in real time. A detailed specification of business requirements related to performance management in the organization is presented as well as the way of application of WCF (Windows Communication Foundation) services, the concept of business intelligence, methodology for data warehousing DW (Data Warehousing), and application of Silverlight technology for solving this problem. In particular, it shows the implementation of Silverlight client application for processes performance management within the company

RISK TRANSFER SOLUTIONS FOR THE INSURANCE INDUSTRY

ABSTRACT: The paper focuses on the traditional and alternative mechanisms for insurance risk transfer that are available to global as well as to domestic insurance companies. The findings suggest that traditional insurance risk transfer solutions available to insurance industry nowadays will be predominant in the foreseeable future but the increasing role of alternative solutions is to be expected as the complementary rather than supplementary solution to traditional transfer. Additionally, findings suggest that it is reasonable to expect that future development of risk transfer solutions in Serbia will follow the path that has been passed by global insurance industry. KEY WORDS: insurance, reinsurance, alternative risk transfer, securitisation

Critical Success Factors for Sustainable Public-Private Partnership (PPP) in Transition Conditions: An Empirical Study in Bosnia and Herzegovina

In the initial stages of the adoption and institutionalization of Public-Private Partnerships (PPPs), national governments of transitional economies have accepted, developed, and organized Public-Private Partnerships with varying degrees of success. This study aims to investigate the critical success factors (CSFs) influencing the establishment of a sustainable Public-Private Partnership in transition conditions. In the first part of the paper, based on an extensive review of the literature, previous studies and relevant results in this field are presented as a background for this research. In the second part of this article, the survey used a factor analysis, which, with the application of the Principal Component Analysis and Varimax method with Kaiser normalization, has extracted four CSFs: (1) the establishment of a central PPP unit—knowledge center; (2) the establishment of a compatible legal/regulatory framework; (3) development of national PPP policies and strategies; and (4) standardization and transparency of the process. In the concluding remarks, the authors address the perspectives and methodological research constraints, examining possibilities to develop new knowledge and more efficient Public-Private Partnership implementation in the developing PPP markets of transitional economies

The economic crisis and the insurance industry: The evidence from the ex-Yugoslavia region

The paper analyses the impact of the economic crisis on the insurance industries of the ex-Yugoslavia region. The analysis encompasses five countries: Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and FYR Macedonia. We examine insurance industry specifics separately for each country for the period 2004-2008 and for the first six months of 2009. While the impact of the crisis varies between countries, the research results indicate that the global financial crisis has had limited overall impact on the regional insurance industry. However the current recession resulted in negative premium growth in Serbia, Croatia and FYR Macedonia while the growth in Slovenia and Bosnia and Herzegovina declined. At the same time investment returns have declined and claims have risen in all countries. The crisis had more pronounced impact on non-life insurance premium growth in less developed insurance markets. In developed markets, namely Slovenia and Croatia, the crisis had greater impact on life insurance premium growth

A MODEL OF USING IPA FUNDS FOR PROJECT REALIZATION IN PRE-ACCESSION COUNTRIES: THE CASE OF SERBIA

During the process of enlargement, the European Union established a mechanism to develop institutions and to support transition process in the EU, through financial help, for potential candidates and candidate countries. This foreign aid is operating throughout different EU funds. The instrument for the pre-accession assistance (IPA) has replaced all other financial funds for the budget period 2007–2013. The aim of this article is to give suggestions for a more efficient use of IPA funds. The article presents a case of Serbia by showing the empirical results from a questionnaire survey of 108 organizations evaluating a range of issues. A model of IPA funds’ use has been created. Risk points have been determined and divided into three groups: informing of potential beneficiaries, their education, and assistance in the realization of all project phases. Improvement could be achieved through the implementation of a new idea for setting up “project centres” which would support the process. Thus, civil society would be involved into the monitoring system