There is a lot of competition and constant shifting of customers in today's business environment. This study, therefore, examined the impact of marketing partners (supplier, distribution, dealer, agencies and customer networking) on customer retention. A descriptive survey research method was used, and data were collected from 356 respondents in the selected deposit money banks. Multiple regression analysis was employed to analyse the formulated hypothesis. The findings showed (R2=0.713, F-test=173.999, p < 0.05), the hypothesis was statistically significant at 5% level of significance, indicating that effective marketing partners demonstrated to be a tactical tool to achieve customer retention. The findings highlight the importance of building and maintaining cordial relationships with marketing partners to enhance customer retention in the banking industry. The study recommended that banks adjust their marketing initiatives and product offers to improve customer retention by being aware of the demands and preferences of their customers.
{"title":"Building Effective Marketing Partners: a Tactical Tool to Achieve Customer Retention in the Face of Strong Competitors","authors":"Bayode Olusanya BABATUNDE, Idris Adegboyega ONIKOYI, Bolanle M. SANUSI, Abosede OJEWANDE","doi":"10.56065/ijuev2023.67.3.171","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.3.171","url":null,"abstract":"There is a lot of competition and constant shifting of customers in today's business environment. This study, therefore, examined the impact of marketing partners (supplier, distribution, dealer, agencies and customer networking) on customer retention. A descriptive survey research method was used, and data were collected from 356 respondents in the selected deposit money banks. Multiple regression analysis was employed to analyse the formulated hypothesis. The findings showed (R2=0.713, F-test=173.999, p < 0.05), the hypothesis was statistically significant at 5% level of significance, indicating that effective marketing partners demonstrated to be a tactical tool to achieve customer retention. The findings highlight the importance of building and maintaining cordial relationships with marketing partners to enhance customer retention in the banking industry. The study recommended that banks adjust their marketing initiatives and product offers to improve customer retention by being aware of the demands and preferences of their customers.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"26 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135735805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-01DOI: 10.56065/ijuev2023.67.3.196
Krasimira NAYDENOVA
The Bulgarian capital market is not founding its place in the national economy for more than 30 years, and the market infrastructure is far from world standards, at least as far as the central depository is concerned. The government is a major shareholder in CD (Central Depository) and BSE (Bulgarian Stock Exchange) and is not doing enough for their development and integration. The state is also absent as a factor in the development of securities trading. The example of Luxembourg shows that the capital market can be a driver of the national economy and a factor for growth, which is why it should be recognized. The stated goal of the research also sets the limitations in the present study - it is an overview and uses a comparative analysis of indicators for economic development and trading in financial instruments. The analysis shows that government guidance of capital market development can become a major factor for remarkable growth, and this can be achieved by small economies as well.
{"title":"THE CAPITAL MARKET MATTERS - THE EXPERIENCE OF THE GRAND DUCHY","authors":"Krasimira NAYDENOVA","doi":"10.56065/ijuev2023.67.3.196","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.3.196","url":null,"abstract":"The Bulgarian capital market is not founding its place in the national economy for more than 30 years, and the market infrastructure is far from world standards, at least as far as the central depository is concerned. The government is a major shareholder in CD (Central Depository) and BSE (Bulgarian Stock Exchange) and is not doing enough for their development and integration. The state is also absent as a factor in the development of securities trading. The example of Luxembourg shows that the capital market can be a driver of the national economy and a factor for growth, which is why it should be recognized. The stated goal of the research also sets the limitations in the present study - it is an overview and uses a comparative analysis of indicators for economic development and trading in financial instruments. The analysis shows that government guidance of capital market development can become a major factor for remarkable growth, and this can be achieved by small economies as well.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135735578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-01DOI: 10.56065/ijuev2023.67.3.225
Milcho BLIZNAKOV
The purpose of the article is to evaluate the parameters of demand for diesel fuel by households in Bulgaria, the structure of the retail fuel market and the effectiveness of competition. Based on statistical data, the parameters of the demand function for diesel fuel by households were estimated and the price and income elasticity was determined. Models of market behaviour are applied and theoretical values of equilibrium quantities and prices are estimated. The hypotheses of cartel existence, revenue maximization, competitive market with low market concentration and perfect competition are tested.
{"title":"DEMAND AND COMPETITION IN THE RETAIL MARKET OF DIESEL FUEL IN BULGARIA","authors":"Milcho BLIZNAKOV","doi":"10.56065/ijuev2023.67.3.225","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.3.225","url":null,"abstract":"The purpose of the article is to evaluate the parameters of demand for diesel fuel by households in Bulgaria, the structure of the retail fuel market and the effectiveness of competition. Based on statistical data, the parameters of the demand function for diesel fuel by households were estimated and the price and income elasticity was determined. Models of market behaviour are applied and theoretical values of equilibrium quantities and prices are estimated. The hypotheses of cartel existence, revenue maximization, competitive market with low market concentration and perfect competition are tested.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135735573","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-01DOI: 10.56065/ijuev2023.67.3.182
Temitope Sade AKINTUNDE, Abiodun Samuel ISAYOMI
This study investigated the effect of the informal economy on human capital development and the direction of causality between informal economy and human capital development in Nigeria from 1970 to 2019. The study objectives were achieved by analysing annual time series data sourced from the World Development Indicators and Central Bank of Nigeria using the autoregressive distributed lag estimation technique and the Toda-Yamamoto causality test. Findings from the study showed positive long-run effect of informal economy on human capital development. The result from this study also revealed unidirectional causality flowing from informal economy to human capital development. Consequently, this study concluded that engagement in informal economic activities is beneficial to human capital development in Nigeria. Following these findings, Nigerian policy makers aiming to achieve human capital development should implement comprehensive policies which facilitate the competitiveness and growth of informal economic activities.
{"title":"THE EFFECT OF INFORMAL ECONOMY ON HUMAN CAPITAL DEVELOPMENT","authors":"Temitope Sade AKINTUNDE, Abiodun Samuel ISAYOMI","doi":"10.56065/ijuev2023.67.3.182","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.3.182","url":null,"abstract":"This study investigated the effect of the informal economy on human capital development and the direction of causality between informal economy and human capital development in Nigeria from 1970 to 2019. The study objectives were achieved by analysing annual time series data sourced from the World Development Indicators and Central Bank of Nigeria using the autoregressive distributed lag estimation technique and the Toda-Yamamoto causality test. Findings from the study showed positive long-run effect of informal economy on human capital development. The result from this study also revealed unidirectional causality flowing from informal economy to human capital development. Consequently, this study concluded that engagement in informal economic activities is beneficial to human capital development in Nigeria. Following these findings, Nigerian policy makers aiming to achieve human capital development should implement comprehensive policies which facilitate the competitiveness and growth of informal economic activities.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135735580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-29DOI: 10.56065/ijuev2023.67.2.101
Ivelina Ivanova-Kadiri
As businesses increasingly recognize the importance of effective customer relationship management, building a rich database and managing it sustainably becomes a crucial factor for success. Digital transformation has altered consumer behavior, necessitating the transformation of strategic frameworks for managing customer relationships and precise management of customer data. To implement effective marketing approaches, it is necessary to conduct a CRM system diagnostics that identifies critical customer interaction areas through adequate metrics. This paper examines the main aspects of marketing diagnostics and their contribution to customer relationship management. The research focuses on the nature and development of three main diagnostic tools as fundamental to the diagnostic process in customer relationship management: the RFM-method, the customer lifetime value (CLTV) and the Customer churn prediction model. The possibilities of using machine learning and artificial intelligence in marketing diagnostics and their impact on customer relationship management are discussed. The purpose of the present study is to contribute to a better understanding of the importance of marketing diagnostics for customer relationship management and to highlight the importance of the effective application of diagnostic tools in organizations.
{"title":"Decoding the DNA of Customer Relationships: the Role of Marketing Diagnostics in the Digital Age","authors":"Ivelina Ivanova-Kadiri","doi":"10.56065/ijuev2023.67.2.101","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.2.101","url":null,"abstract":"As businesses increasingly recognize the importance of effective customer relationship management, building a rich database and managing it sustainably becomes a crucial factor for success. Digital transformation has altered consumer behavior, necessitating the transformation of strategic frameworks for managing customer relationships and precise management of customer data. To implement effective marketing approaches, it is necessary to conduct a CRM system diagnostics that identifies critical customer interaction areas through adequate metrics. This paper examines the main aspects of marketing diagnostics and their contribution to customer relationship management. The research focuses on the nature and development of three main diagnostic tools as fundamental to the diagnostic process in customer relationship management: the RFM-method, the customer lifetime value (CLTV) and the Customer churn prediction model. The possibilities of using machine learning and artificial intelligence in marketing diagnostics and their impact on customer relationship management are discussed. The purpose of the present study is to contribute to a better understanding of the importance of marketing diagnostics for customer relationship management and to highlight the importance of the effective application of diagnostic tools in organizations.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"115 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78110348","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-29DOI: 10.56065/ijuev2023.67.2.153
Galina Ivanova
Тhe business environment in the agricultural sector is rapidly changing and highly competitive in modern conditions. The need to unite farmers in business networks arises as a result of these realities. The purpose of the article is to discuss the potential of business networks to influence the strength in the competitive struggle in agribusiness in Bulgaria. In order to achieve the goal, a survey was conducted among one of the forms of business networks, which finds application on the territory of the country. The topic of research is based on the network`s characteristics noted in literature as a tool for searching for innovative solutions in order to improve the ability of business organizations to compete.
{"title":"Business Networks as a Means of Impact on Agribusiness Organizations Competitiveness","authors":"Galina Ivanova","doi":"10.56065/ijuev2023.67.2.153","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.2.153","url":null,"abstract":"Тhe business environment in the agricultural sector is rapidly changing and highly competitive in modern conditions. The need to unite farmers in business networks arises as a result of these realities. The purpose of the article is to discuss the potential of business networks to influence the strength in the competitive struggle in agribusiness in Bulgaria. In order to achieve the goal, a survey was conducted among one of the forms of business networks, which finds application on the territory of the country. The topic of research is based on the network`s characteristics noted in literature as a tool for searching for innovative solutions in order to improve the ability of business organizations to compete.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"21 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90474947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-29DOI: 10.56065/ijuev2023.67.2.125
Ion Pănescu, Dumitru Miron
On their development path the Central and Eastern European (CEE) countries partially overcame the gap to the developed countries by means of the external trade, acquiring the needed goods and services and satisfying the foreign demand for their products which otherwise was lacking on their territory or seizing an opportunity. In the current paper the authors aim at analysing the evolution of the trade flows of the countries they thought to be the most similar in this aspect, which are the ones belonging to the non-euro area of the European Union (EU) during the period 2014-2021. The research used the Eurostat database, the products being classified after the Standard International Trade Classification (SITC) main categories in order to find out the sectors with the largest contribution to the total surplus or deficit. Moreover, there were identified the main partners of every analysed country and calculated the evolution of respective trade balances at the start and the end of the selected period of time. The authors findings reveal an increasing dependency on exports to Germany, imports from China, decreasing imports of mineral fuels from Russia and also important similarities and differences in the group. The novelty of the manuscript resides in comparing the most profitable sectors during the analysed period and identifying the partners’ contribution to the surplus or the deficit. The current research might be extended with a more in-depth level of multinational enterprises and also in the case of services.
{"title":"The International Trade of Non-Euro CEE Countries During the Period 2014-2021. A Multiparameter Analysis","authors":"Ion Pănescu, Dumitru Miron","doi":"10.56065/ijuev2023.67.2.125","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.2.125","url":null,"abstract":"On their development path the Central and Eastern European (CEE) countries partially overcame the gap to the developed countries by means of the external trade, acquiring the needed goods and services and satisfying the foreign demand for their products which otherwise was lacking on their territory or seizing an opportunity. In the current paper the authors aim at analysing the evolution of the trade flows of the countries they thought to be the most similar in this aspect, which are the ones belonging to the non-euro area of the European Union (EU) during the period 2014-2021. The research used the Eurostat database, the products being classified after the Standard International Trade Classification (SITC) main categories in order to find out the sectors with the largest contribution to the total surplus or deficit. Moreover, there were identified the main partners of every analysed country and calculated the evolution of respective trade balances at the start and the end of the selected period of time. The authors findings reveal an increasing dependency on exports to Germany, imports from China, decreasing imports of mineral fuels from Russia and also important similarities and differences in the group. The novelty of the manuscript resides in comparing the most profitable sectors during the analysed period and identifying the partners’ contribution to the surplus or the deficit. The current research might be extended with a more in-depth level of multinational enterprises and also in the case of services.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90483636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-29DOI: 10.56065/ijuev2023.67.2.110
Calvin Y. Ojeleye, Abdullahi H. Mustapha, S. Umar, M. Bakare
The marketing concept holds that the key to realizing the goals of the organization lies in the ability of the organization in creating, delivering and communicating customer value to the target market more effectively compared to the competitors. This research examined brand image, and customer satisfaction as determinants of purchase intention with the moderating role of service quality. A quantitative research which employed both survey and cross-sectional research designs. The study has an infinite population with a sample size of 422. Purposive sampling techniques were employed in the process of administering the copies of questionnaires to respondents. Partial Least Square Structural Equation Modelling (PLS-SEM) was utilised to ascertain the hypothesised relationship. The findings of the study suggested that brand image, customer satisfaction and service quality have a positive and significant effect on purchase intentions. In addition, service quality significantly moderated the relationship between brand image and purchase intentions and customer satisfaction and purchase intentions. The study recommends that managers should improve service quality in clients' views, such as improving banking facilities, commitments to the customer, the interaction between the staff and the client, being ready to listen to the concerns of customers, and being prepared to solve the problems of customers.
{"title":"Brand Image, Customer Satisfaction and Consumer Purchase Intentions in the Banking Sector of Nigeria: Can Service Quality Strengthen the Relationship","authors":"Calvin Y. Ojeleye, Abdullahi H. Mustapha, S. Umar, M. Bakare","doi":"10.56065/ijuev2023.67.2.110","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.2.110","url":null,"abstract":"The marketing concept holds that the key to realizing the goals of the organization lies in the ability of the organization in creating, delivering and communicating customer value to the target market more effectively compared to the competitors. This research examined brand image, and customer satisfaction as determinants of purchase intention with the moderating role of service quality. A quantitative research which employed both survey and cross-sectional research designs. The study has an infinite population with a sample size of 422. Purposive sampling techniques were employed in the process of administering the copies of questionnaires to respondents. Partial Least Square Structural Equation Modelling (PLS-SEM) was utilised to ascertain the hypothesised relationship. The findings of the study suggested that brand image, customer satisfaction and service quality have a positive and significant effect on purchase intentions. In addition, service quality significantly moderated the relationship between brand image and purchase intentions and customer satisfaction and purchase intentions. The study recommends that managers should improve service quality in clients' views, such as improving banking facilities, commitments to the customer, the interaction between the staff and the client, being ready to listen to the concerns of customers, and being prepared to solve the problems of customers.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"113 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75757823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-29DOI: 10.56065/ijuev2023.67.2.139
B. Okuneye, Peter Oluwo
Nigeria’s high import of manufactured products and the weak export of processed goods are indications of the palpable weakness of the sector. The paper examines the response of manufacturing performances to crude oil price fluctuations in Nigeria and considered annual data in Nigeria from 1981 to 2019. The paper evaluates fluctuation in crude oil price in relation to manufacturing sector performance in Nigeria. Hence, the need to find solution to the crude oil price fluctuations becomes inevitable. The data set was estimated using dynamic ordinary least square (DOLS) as the series is a mixture of me (0) and me (1). However, ex post facto research design was employed to realize the first objective. Phillips Perron and Bounds test were carried out to evaluate the F-statistic against the critical values. The results show that physical investment had negative value (-0.0466) and was significant at (1%) on manufacturing performance; also oil price fluctuations had negative value (-0.1399). Therefore, policy makers need to engage the Governments to create enabling environment and regulate the distortions in the crude oil price for manufacturing sector.
尼日利亚制成品的大量进口和加工产品的疲软出口是该部门明显疲软的迹象。本文考察了尼日利亚制造业绩效对原油价格波动的响应，并考虑了尼日利亚1981年至2019年的年度数据。本文评估了原油价格波动与尼日利亚制造业业绩的关系。因此，寻找解决原油价格波动的方法势在必行。由于该序列是me(0)和me(1)的混合物，因此使用动态普通最小二乘法(DOLS)估计数据集。然而，采用事后研究设计来实现第一个目标。采用Phillips Perron and Bounds检验来评估f统计量对临界值的影响。结果表明:实物投资为负值(-0.0466)，对制造业绩效影响显著(1%);此外，石油价格波动为负值(-0.1399)。因此，决策者需要与各国政府接触，为制造业创造有利的环境并管制原油价格的扭曲。
{"title":"Crude Oil Price Fluctuations and Manufacturing Sector Performance in Nigeria (1981 - 2019)","authors":"B. Okuneye, Peter Oluwo","doi":"10.56065/ijuev2023.67.2.139","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.2.139","url":null,"abstract":"Nigeria’s high import of manufactured products and the weak export of processed goods are indications of the palpable weakness of the sector. The paper examines the response of manufacturing performances to crude oil price fluctuations in Nigeria and considered annual data in Nigeria from 1981 to 2019. The paper evaluates fluctuation in crude oil price in relation to manufacturing sector performance in Nigeria. Hence, the need to find solution to the crude oil price fluctuations becomes inevitable. The data set was estimated using dynamic ordinary least square (DOLS) as the series is a mixture of me (0) and me (1). However, ex post facto research design was employed to realize the first objective. Phillips Perron and Bounds test were carried out to evaluate the F-statistic against the critical values. The results show that physical investment had negative value (-0.0466) and was significant at (1%) on manufacturing performance; also oil price fluctuations had negative value (-0.1399). Therefore, policy makers need to engage the Governments to create enabling environment and regulate the distortions in the crude oil price for manufacturing sector.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82996195","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.56065/ijuev2023.67.3.213
Julieta MIHAYLOVA
To meet the random consumers demand the distributors maintain inventory. For optimal inventory control under random demand it is necessary to know the cumulative distribution function (CDF). The practical determination of CDF is related with a number of difficulties. This paper proposes a way to construct a probability distribution function of demand. Data on weekly sales of over 400 types of food products over a period of five years in a small distribution company were analyzed. The ARIMA model was used for primary analysis of the consumption data. Random variables are modeled using Pearson Distribution System and Johnson Distribution System and can be used to determine inventory management strategies.
{"title":"AN APPROACH TO MODELING THE PROBABLE CONSUMERS DEMAND OF FOOD PRODUCTS USING PEARSON DISTRIBUTION SYSTEM AND JOHNSON DISTRIBUTION SYSTEM","authors":"Julieta MIHAYLOVA","doi":"10.56065/ijuev2023.67.3.213","DOIUrl":"https://doi.org/10.56065/ijuev2023.67.3.213","url":null,"abstract":"To meet the random consumers demand the distributors maintain inventory. For optimal inventory control under random demand it is necessary to know the cumulative distribution function (CDF). The practical determination of CDF is related with a number of difficulties. This paper proposes a way to construct a probability distribution function of demand. Data on weekly sales of over 400 types of food products over a period of five years in a small distribution company were analyzed. The ARIMA model was used for primary analysis of the consumption data. Random variables are modeled using Pearson Distribution System and Johnson Distribution System and can be used to determine inventory management strategies.","PeriodicalId":30732,"journal":{"name":"Izvestiia Ikonomicheski universitet Varna","volume":"147 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135157696","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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