Methodology foundations of decision-making concerning balanced management of manufacturing

Economic Annals-ХХI: Volume 160, Issue 7-8, Pages: 45-50

Citation information:
Khorolskyi, V., Rybalko, L., Purij, G., & Khorolska, O. (2016). Methodology foundations of decision-making concerning balanced management of manufacturing. Economic Annals-XXI, 160(7-8), 45-50. doi: https://doi.org/10.21003/ea.V160-09

Valentyn Khorolskyi
D.Sc. (Engineering),
Professor,
Department of Marketing and Management,
Donetsk National University of Economics and Trade named after Mykhailo Tugan-Baranovsky
16 Ostrovsky Str., Kryvyi Rih, 50005, Ukraine
khorolv@ukr.net

Liudmyla Rybalko
PhD (Economics),
Associate Professor,
Department of Management and Administration,
Kryvyi Rih Institute of Economics of Kyiv National Economic University named after Vadym Hetman
64 Poshtovyi Ave., Kryvyi Rih, 50000, Ukraine
lyudamsk@rambler.ru

Ganna Purij
PhD (Economics),
Senior Lecturer,
Department of Economics and Strategy of Enterprises,
Kryvyi Rih Institute of Economics of Kyiv National Economic University named after Vadym Hetman
64 Poshtovyi Ave, Kryvyi Rih, 50000, Ukraine
ann-kopeika@ukr.net

Olena Khorolska
PhD Student (Economics),
Researcher,
Department of Management and Administration,
Kryvyi Rih National University
11 ХХІІ Partzyizdu Str., Kryvyi Rih, 50027, Ukraine
khorolv@ukr.net

Methodology foundations of decision-making concerning balanced management of manufacturing

Abstract. Authors are presenting generalized model of managerial decision-making in the manufacturing process based on experience of Ukrainian export-oriented companies in ore mining, iron- and steelmaking.

Managerial decision-making model was developed, based on the Balanced Scorecard tool, to engulf various features of company’s manufacturing cycle, uncertainty within external and internal environment, and adaptation to the EU standards and requirements in iron and steel industry. Theoretical foundations and practical recommendations for corporate governance are devised. The authors elaborate management techniques for complex manufacturing process with a special emphasis on compliance with the international standards of management.

The authors developed flexible decision-making model for management of manufacturing process in ore mining, iron- and steelmaking complex, apt to meet the international harmonization requirements for organization of business processes, implement complex innovative projects in manufacturing, and incorporate permanent personnel training programmes.

Keywords: Decision-Making; System; Modelling; Structure; Adjustment; Enterprise

JEL Cassification: D81; M11; С61; L15

DOI: https://doi.org/10.21003/ea.V160-09

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Received 5.04.2016