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EN
Purpose: This study aims to investigate the effects of working capital management on firm profitability of listed manufacturing companies in Malaysia. Design/methodology/approach: This study uses account payables, inventory turnover, account receivables, cash conversion cycle, firm size, growth, leverage and current ratio as accounting information variables. Secondary data was collected for all variables over a ten-year period, i.e. 2009 to 2018 and was obtained from the annual report published via Bursa Malaysia (Malaysian Stock Exchange) official website. Data was analyzed by using IBM SPSS Statistics Subscription software. Descriptive statistics, correlation analysis and multiple regression analysis were utilized in this study. Findings: The results revealed that inventory turnover in days, account receivables and firm size have a positive significant relationship with manufacturing firms’ profitability, while account payables and cash conversion cycle have a positive insignificant relationship. Research limitations/implications: The sample size is too small for any generalization. A mixed method approach in the future could contribute to a holistic finding. Practical implications: Since these variables contained significant influence on firm profitability, it is recommended that listed manufacturing companies should prepare a complete and timely manner of accounting information based on the regulation context in Malaysia. Social implications: It provides an empirical evidence on the importance of working capital management amongst the manufacturing concerns in Malaysia and its impact on its business sustainability. Originality/value: This study contributes to the limited research on working capital management involving manufacturing companies in Malaysia. Paper Type: Research Paper.
EN
The COVID-19 pandemic has significantly and permanently changed modern life in the private and professional dimensions, where numerous consequences of the virus have affected employees and employers. Both groups were forced to implement numerous changes to ensure the work process’s safety. The multi-dimensionality of this concept and, consequently, the multi-directionality of its potential and required actions taken by companies have become the basis for a theoretical and practical analysis of conditions for supporting broadly understood employee safety during the COVID-19 pandemic in selected production companies in Poland. The pilot studies’ results indicated the leading direction and scope of actions taken so far, their main types, stimulating factors and barriers, perceived benefits and future trends. The article’s conclusions may form the basis for universal good practices supporting the safety of employees in the production sector, which, regardless of the duration of the pandemic, may be used as effective and efficient improvement measures in generating measurable benefits for all stakeholders.
EN
The article presents the results of conducted empirical research in which an attempt was made to identify the expectations of manufacturing companies towards suppliers in terms of process (logistics customer service, supervision over property customer, production monitoring, supplier supervision) improvement. The research was conducted using the Computer Assisted Telephone Interview (CATI) technique. The research covered 150 production medium and large size companies (employing over 50 people) who were suppliers for enterprises from the automotive, electromechanical and chemical sectors operating in the Polish industrial market. The expectations of production companies towards their suppliers regarding improvement of processes concept were assigned a rank on a scale from one (the least important criterion) to five (the most significant). The analysis of the results of the conducted research shows that the implementation of management tools such as international organizational standards (ISO), Kaizen or Lean Management by companies that are purchasers may affect the expectations towards suppliers in terms of improving their processes. The considerations undertaken in this article confirm that in order to compete on the modern market, close cooperation and cooperation within the supply chain are needed. Representatives of the surveyed manufacturing companies notice this fact and set high expectations for their suppliers in virtually all the surveyed aspects. Conducted research shows that suppliers must pay special attention to the implementation of processes related to ensuring and improving the technical quality of products by focusing on improving control and supervision processes and logistical aspects of customer service. Proper implementation and improvement of these processes requires a methodical approach. Based on the obtained research results, managers of organizations supplying manufacturing companies can obtain important information that will be used to improve processes that are important from the point of view of their recipients. On this basis, they can make an optimal allocation of resources and modify the management style to improve cooperation with manufacturing companies.
EN
All manufacturers were affected by the COVID-19 pandemic. It can be assumed that producers were affected as much as the service operation field (based on company categories). This article aims to ascertain how COVID-19 affected various areas of service operations in manufacturing companies. So far, no literature is available identifying the impact of COVID-19 on various areas of service operations by current manufacturers. An electronic questionnaire was prepared and sent to the manufacturers. The questionnaire was completed by 88 respondents from four selected industrial areas. The findings show no statistically significant differences in the perception of the COVID-19 impact on various areas of service operations in manufacturing companies based on CZ-NACE, the number of employees, the type of customers and the type of services provided to products. However, in the area of the type of services, one statistically significant difference was found in the statement related to increasing interest in engaging in cooperation with suppliers in the field of smart services. Theoretical implication contributes to understanding the impact of COVID-19 on manufacturers in various areas of service operation. First, the research did not reveal any statistically significant difference in manufacturing companies sorted by their CZ-NACE, the number of employees and the predominant customers in the areas of service operations. It can be considered that the companies were hit by COVID-19 very similarly. Second, the research revealed statistically significant differences in the area of processing results according to the type of services, and in this case, only in the area of increasing interest in engaging in the cooperation with suppliers in the field of smart services. From a managerial viewpoint, this paper contributes to the field of impact of COVID-19 on areas of service operation in manufacturing companies.
EN
Among the significant determinants influencing the corporate culture is the degree of riskiness in the operational activities of a company. Firstly and most importantly, business entities must be prepared to respond quickly to the needs of an external as well as the internal environment, to be in close relationship with customers, to use internal business activities, to strive to build the desired way of behaviour and actions of all stakeholders. The paper aims to define possible risks of ethical credibility based on the analysis and research in selected production companies operating in Slovakia and then propose options, measures to eliminate the threats to ethical credibility and thus increase the credibility and reliability of manufacturing companies.
EN
Background: Due to the industrial revolution, extensive production, more raw materials are consumed, which are enough for landfills and disturbing environmental integrity. RL is an established concept in developed countries in comparison to developing countries. RL implementation is in its infancy due to some barriers. Therefore, the purpose of this study is to identify the RL barriers through literature review and to check their effect on the adoption of RL practices and to explain either they influence the firm performance or not. Method: Data were collected from the employees of manufacturing companies and relevant government institutes and later were analyzed by using the structural equation modelling technique. A novel structural model connecting all study variables was developed to verify the impact of RL barriers on sustainable firm performance. Results: Study results show that Infrastructure & technology, Financial & economic, Knowledge & experience-based barriers are critical and negatively affect the adoption of RL practices. The adoption of RL practices has a positive effect on the company’s economic and environmental performance both. Further, the mediating role of adoption of RL practices between RL barriers and firm performance was also found. Conclusion: The results of this research help to extend literature presenting that the ecological modernization and new environmental laws and regulation should be integrated with enterprises to mitigate infrastructure & technology, financial & economic and knowledge & experience related barriers by conducting proper training programs and promoting sustainability among company’s top managemenT.
PL
Wstęp: Wskutek wzrastającego rozwoju przemysłowego i intensyfikacji produkcji, zużywa się coraz więcej surowców, co z kolei wpływa na stan środowiska. Logistyki zwrotna (RL) to koncepcja dobrze rozwinięta w krajach rozwiniętych w stosunku do krajów rozwijających się. Wdrożenie logistyki zwrotnej jest w swojej początkowej fazie ze względu na wiele czynników ograniczających i utrudniających jej wprowadzenie. Celem pracy jest identyfikacji barier wpływających na logistykę zwrotną poprzez przegląd literatury oraz sprawdzenie wpływu tych czynników na wdrażanie praktyk logistyki zwrotnej jak również sprawdzenie czy mają one wpływ na działalność przedsiębiorstwa czy nie. Metody: Dane do badania zostały zebrane od pracowników przedsiębiorstw produkcyjnych oraz odpowiednich instytucji rządowych i poddane analizie przy zastosowaniu metody modelowania równania strukturalnego. Nowatorski model strukturalny uwzględnia w sobie wszystkie analizowane zmienne w celu oceny wpływu barier logistyki zwrotnej na rozwój zrównoważony przedsiębiorstwa. Wyniki: Badanie wykazuje, że czynniki: Infrastruktura i technologia, Finanse i ekonomia, Wiedza i doświadczenie, są czynnikami krytycznymi i mają negatywny wpływ na zaadoptowaniepraktyk logistyki zwrotnej. Wdrożenie praktyk logistyki zwrotnej ma pozytywny efekt na działalność ekonomiczną i środowiskową przedsiębiorstwa. Wnioski: Osiągnięte rezultaty pozwalają na poszerzenie dostępnej literatury, pokazując, że modernizacja ekologiczna oraz nowe prawodawstwa związane z ochroną środowiska powinno być zintegrowane w przedsiębiorstwie w celu zniwelowania barier związanych z czynnikami z grup Infrastruktura i technologia, Finanse i ekonomia, Wiedza i doświadczenie poprzez odpowiednio szkolenia oraz przez promowanie rozwoju zrównoważonego wśród szczebla najwyższego kierownictwa przedsiębiorstw.
PL
W coraz większym stopniu menedżerowie uświadamiają sobie, iż nastąpiło fundamentalne przewartościowanie orientacji w zarządzaniu, w zakresie celów operacji i procesów funkcjonowania. Proces zmian dokonuje się na kilku płaszczyznach: strukturalnej, systemów pracy, kompetencji, technologii, procedur organizacyjnych czy strategii. W związku z powyższym wielu badaczy i praktyków zarządzania zastanawia się nad istotą, mechanizmami kreowania i granicami strategii. Część propozycji ogranicza się do reakcji, inne tylko do adaptacji przedsiębiorstwa do zmieniających się warunków, jeszcze inne ograniczają się wyłącznie do zmian lub zasobów pozostających w dyspozycji przedsiębiorstwa. Rozważania prowadzone przez autora niniejszej pracy podążają w kierunku rozpoznania strategicznych tendencji przedsiębiorstw wytwórczych działających w polskim sektorze maszyn rolniczych; zmienia się bowiem model ich funkcjonowania.
EN
To overcome the challenges posed by increasing competition, many traditional manufacturing companies are moving from the mere production of manufacturing goods to the integration of services that are more or less integrated into the product, which is also due to the constant development of the industry. Moreover, many manufacturing companies offer products that use smart technologies. This paper focuses on the importance of smart service provision for cooperation and innovation flexibility, innovation performance and business performance in small and medium manufacturing companies. The paper aims to find out if smart service manufacturing providers are different in cooperation and innovation flexibility and innovation and business performance from non-smart service manufacturing providers. To better understand the issue, research was undertaken in 112 small and medium manufacturing companies of the Czech Republic. The problems of smart service provision were investigated in the first empirical research held among the electric engineering companies (CZ-NACE 26 and CZ-NACE 27) in the Czech Republic. The findings show that smart service manufacturing providers are better in internal cooperation flexibility, innovation flexibility related to product and to accompanying services and in business performance than non-smart service manufacturing providers. Theoretical implication contributes in two specific ways: first, in the presentation of the interconnection of smart services and cooperation flexibility, innovation flexibility, innovation performance and business performance; and second, in the identification of the impact of smart services in manufacturing SMEs and in finding out which areas affect the provision of smart services. The findings can have a positive influence in several areas; therefore, they can be important factors for many manufacturing companies which still need some persuasion to offer smart services.
EN
Provision of services by manufacturing companies is becoming more and more common practice. In the machinery sector, which supplies machines and equipment to different industries, both to individual and business customers, offering additional services, such as assembly, monitoring or maintenance of machinery, may be a key factor for the buyer while choosing the equipment supplier. Whether and how the extending of the range of services affects business performance is an issue for both researchers and entrepreneurs. This article is a continuation of the research conducted by the author in 2016. The main aim of this article is the attempt to examine the relationship between technical efficiency of manufacturers of machinery and industrial equipment and their service offerings, with the use of correspondence analysis. Over 50 Polish companies from the machine sector were examined. The results and conclusions are discussed in the paper.
PL
Świadczenie usług przez firmy produkcyjne staje się coraz powszechniejszą praktyką. W sektorze maszynowym, który dostarcza maszyny i urządzenia różnym branżom, zarówno klientom indywidualnym, jak i biznesowym, oferując dodatkowe usługi, takie jak montaż, monitorowanie lub konserwacja maszyn, może być kluczowym czynnikiem dla kupującego przy wyborze dostawcy sprzętu. To, czy i jak tendencja do rozszerzania zakresu usług wpływa na wydajność biznesową, jest problemem zarówno dla badaczy, jak i przedsiębiorców. Artykuł jest kontynuacją badań przeprowadzonych przez autorkę w 2016 r. Głównym celem tego artykułu jest próba zbadania związku między techniczną sprawnością producentów maszyn i urządzeń przemysłowych a ich ofertą usługową, z wykorzystaniem korespondencji analiza. Przetestowano ponad 50 polskich firm z branży maszynowej. Wyniki i konkluzje zostały omówione w artykule.
PL
W związku z dynamicznie zmieniającym się i niepewnym otoczeniem, w przedsiębiorstwach produkcyjnych pojawia się coraz wyraźniejsza potrzeba wdrożenia systemów zarządzania ryzykiem. Systemy te w sposób holistyczny identyfikują i oceniają ryzyko, dając jednocześnie podstawę do podejmowania decyzji w zakresie ochrony przed ryzykiem. Celem artykułu jest analiza systemów zarządzania ryzykiem w spółkach produkcyjnych notowanych na Giełdzie Papierów Wartościowych (GPW), w tym wskazanie i opisanie spółek, które wdrożyły holistyczną koncepcją systemowego zarządzania ryzykiem (ERM).
EN
Due to the dynamically changing and uncertain environment, manufacturing companies are becoming increasingly aware of the need to implement risk management systems. These systems holistically identify and assess risks whilst providing the basis to make decisions about protection against risk. The purpose of this article is to analyze risk management systems in Warsaw Stock Exchange (WSE) listed companies, including identification and description companies that have implemented enterprise risk management (ERM).
EN
The automotive industry was one of the first to implement the “just-in-time” approach on a massive scale. Such an approach required a very effective ordering of goods as well as monitoring of deliveries, and The consequence of such actions was a significant reduction in production costs. Missing components, in transit to an assembly line, cause stoppages in production which result in high financial losses in the form of contractual penalties. The onus is on the supplier to prove that he is not at fault himself, in order to have the complaint annulled. One of the methods used in the Production Plant under discussion is video monitoring of the order-picking process. The idea itself and its implementation were discussed with a rationalisation team, under ISO/TS 16949: 2009. The authors of the project were employees directly involved in the process The goal was quite relevant to them since these same employees, were getting internal complaints for deficiencies in their collective packaging; this was then being reflected in the size of their bonuses Such a visual demonstration of accuracy in completing the process resulted in the withdrawal of complaints, leading to the elimination of the financial losses which had been occasioned by production line stoppages. The study period covers a period of 5 years, from January 2010 to December 2015. Analysis of the data collected allowed conclusions to be arrived at, regarding fairness and the measurable benefits to be had when using this method.
EN
With regard to adapting enterprise to the Industry 4.0 concept, the first element should be the implementation and use of an information system within a manufacturing company. This article proposes a model, the use of which will allow the level of automation of a maintenance department to be forecast, depending on the effectivity of the use of the Manufacturing Executions System (MES) within a company. The model was built on the basis of the actual times of business processes completed which were supported by MES in the maintenance departments of two manufacturing enterprises using artificial neural network. As a result of research experiments, it was confirmed that the longer the time taken to complete business processes supported by MES, the higher is the degree of automation in a maintenance department.
PL
W artykule przedstawiono wyniki badań przeprowadzonych w 358 przedsiębiorstwach produkcyjnych branży spożywczej należących do sektora MŚP w woj. śląskim, w zakresie zarządzania ryzykiem oraz identyfikacji zakłóceń, mających wpływ na realizację poszczególnych procesów logistycznych w tych przedsiębiorstwach.
EN
The article presents the results of research carried out in 358 companies manufacturing food industry belong to the SME sector in the Silesian Voivodeship. The study involved the use of risk management and disturbances that affect the implementation of the various logistics processes occurring in these companies.
PL
W artykule przedstawiono wyniki badań przeprowadzonych w małych i średnich przedsiębiorstwach produkcyjnych branży spożywczej, działających na terenie województwa śląskiego. Badania dotyczyły nie tylko stopnia wdrożenia zarządzania ryzykiem, ale również identyfikacji zakłóceń mających wpływ na realizację poszczególnych procesów logistycznych występujących w tych przedsiębiorstwach. Celem badań było otrzymanie informacji z jaką częstotliwością występuje poszczególne zakłócenie w danym procesie logistycznym oraz jaki powoduje skutek. W artykule przedstawiono wyniki dla następujących procesów logistycznych: gospodarka magazynowa, zarządzanie opakowaniami oraz transport.
EN
The article presents the results of research carried out small and medium-sized manufacturing companies operating in the food industry in the province of Silesia. Research related to the degree of implementation of risk management, and identification of interference affecting the implementation of the various logistics processes occurring in these companies. The aim of the study was to obtain information how often each fault occurs in the logistics process and what causes the effect. The article presents the results for the following logistic processes: warehousing, packaging management and transport.
PL
Zarządzanie jakością jest jednym z podstawowych procesów realizowanych w przedsiębiorstwach produkcyjnych. Lata doświadczeń przyczyniły się do opracowania szeregu technik i narzędzi, które je wspomagają, służąc głównie samokontroli. Zarządzający jednak korzystają ze zgromadzonych za ich pomocą danych w ograniczony sposób, co obniża efektywność funkcjonowania. W niniejszym opracowaniu przybliżono dobre praktyki zarządzania jakością w przedsiębiorstwach produkcyjnych oraz zaproponowano model rozwiązania informatycznego wspomagającego kadrę kierowniczą w analizie danych w czasie rzeczywistym. Proponowane rozwiązanie przede wszystkim wspiera utrzymanie zakładanej kultury pracy, uruchomienie odpowiednich procedur reagowania i eskalacji w przypadku wykrycia zagrożeń mogących mieć wpływ na jakość produktu, a tym samym zmniejszenie ilości reklamacji i obniżenie koszów złej jakości.
EN
Quality management process is one of the most crucial pillars in manufacturing companies operations. Years of experience in production brought numerous of management tools and techniques that are supporting this process mainly tough self-inspection. This involves large amount of data generation that very often is not cross check for non-quality detection purpose. Presented document describes possibilities to implement IT tool that would enable real time data processing. Proposed solution would enable to analyze information from different sources, check consistency, match results, pursuit reaction and escalation rules in case of risk detection. It also would impose systematic approach in operations execution supporting efficiently management to avoid non-quality costs.
EN
In the twenty-first century, the development of Polish production companies from the metal and automotive industry depends on their innovation potential. Level of the development may be indicated by the potential of the research projects and development work carried out jointly with Polish and foreign universities, the results of which should be implemented in new products and defining new services or processes. Implementation the strategy of innovation management still face many problems for enterprises. Very often, enterprises decided to resignation of driving innovation and general discouragement to the whole issue of innovation. The aim of the article is to analyze the results of surveys conducted in Polish manufacturing companies in the metal and automotive industry and selected reasons for their low level of innovation. Articles presented results of the long term study make by the cycle of the articles in the manufacturing companies represented by these industries. Article publied in early 2016 monograph [4] presented the results of pilot studies. This article presents the results of the finally study. The article consists of two parts. The first part concerns the theoretical concept of innovation, the definition of the automotive industry and the metal and the chosen method of research. The second part presents the results of research.
PL
Artykuł podejmuje zagadnienie ryzyka ekologicznego związanego z działalnością przedsiębiorstw produkcyjnych i jego wpływu na ocenę ich ryzyka kredytowego dokonywaną przez instytucje finansowe w przypadku ubiegania się przez te firmy o pożyczkę pieniężną. Przedstawiono w nim wybrane modele oceny ryzyka kredytowego oraz omówiono znaczenia aspektów ekologicznych związanych z działalnością produkcyjną w procedurze jego oceny. Na podstawie analizy piśmiennictwa wskazano również na podstawowe relacje pomiędzy tymi rodzajami ryzyka w praktyce działalności sektora bankowego.
EN
The paper discusses the issue of ecological risk connected with the business activity of manufacturing companies and its impact on credit risk assessment performed by financial institutions, in case the companies submit applications for bank loans. The paper presents selected models of credit risk assessment and analyses the significance of ecological aspects related to the production activity in the assessment procedure. On the basis of the analysis of background literature, principle relations between these types of risk in the practice of functioning of the banking sector.
EN
Decisions taken in a company depends on many factors. First of all, they depend on the management style. Managers have their own different from another style of managing people, processes, assets and infrastructure. These differences result from many causes, e.g. Different systems of mutual relations between the manager and the rest of the group. However, the management is primarily targeting, in which attitudes, aspirations, interests and behavior of managers depend on their knowledge base and information resources. Management contributes to the proper functioning of the company, and thus maximize profits. In order to optimize the production processes are created the conditions in which knowledge and accurate processing of information is a key challenge faced by managers of manufacturing companies. Knowledge is now the superior value and its proper use significantly affect the development of the company. In order to aggregate the knowledge systems are created which have the knowledge to collect and analyze above all. Proper analysis of information plays an important role in the production process. Properly programmed tools enable accurate production planning and observation of the process at every stage. These tools, known as ERP systems, are a synthesis of knowledge of each employee. The functioning of such systems in enterprises is very common for the functioning of the market. Due to this, these systems are popular and widely implemented. The aim of the article is to analyze the results of surveys conducted in Polish manufacturing companies in the metal and automotive industry by the use of ERP systems in these companies. This article make up a part of the cycle of the articles about manufacturing companies of the automotive and metal industries in Poland. Earlier articles of the research team based on the analysis of the pilot studies. The present article presents the results of research already appropriate. The article consists of two parts. The first theoretical part concerns the definition of the automotive and metal industry, the concepts of management and organization of intelligent characteristics of ERP systems and the chosen method of research. The second part presents the results of research.
EN
This paper presents the effects of researches regarding the computer programming systems to support the management of production conducted in Polish manufacturing companies. The research based on a survey covered 57 companies in all 16 voivodeship. The analysis of research presents development issues and the need for further function of ERP system. While researching the functionality of ERP systems, 23 functions has been included, among other things: - registration of active time, - registration of active time of technologist, - calculation cost of fabrication of product, - configuration of product, - minimalization of surplus, - production plannig. The researches include the elements of the number od critical and essential problems and the number of critical and essential problems with function state. Critical problems mostly appear in small and middle companies. Many critical and essential problems in supply industry, operation of magazine and furtherance work of sale. Small companies have maximum problems in this field. The number of critical and essential problems with deployment of ERP function has increased in companies lacking the deployed, problematic ERP functions – this outcome is illogical. This situation that came into existance might be perceived as probable difficulties of the company in a certain area. The paper includes the research of the General Agency of Statistics applying to the market saturation of ERP systems for the manufacturing companies. The researches presents analysis of studies point to the important role and usefulness of the supervising consultants of ERP systems. The direction of the management of the company and the benefits of introducing information systems has been included.
PL
Współcześnie pojawia się coraz więcej koncepcji dotyczących jakości oraz metod przyczyniających się do jej poprawy w przedsiębiorstwach produkcyjnych. Produkcja seryjna, gdzie występuje duża różnorodność poszczególnych cech wyrobów, wymaga prowadzenia kontroli jakości dla prawidłowego przebiegu procesu produkcyjnego. W takich procesach jako narzędzie w badaniach nad jakością procesu produkcyjnego sprawdza się przede wszystkim statystyczna ocena jakości wyrobów. Celem artykułu jest przedstawienie wybranego procesu kontroli jakości stosowanego w przykładowej firmie produkującej fotele samochodowe.
EN
Today, there are more and more quality concepts and methods that contribute to its improvement in manufacturing companies. Serial production where there is a large variety of individual characteristics of the products, requires conducting quality control for the smooth running of the production process. In such processes as a tool in the study of the quality of the production process is particularly suitable statistical evaluation of product quality. The aim of the article is to present the quality control process used in the exemplary company producing car seats.
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