ON THE GENESIS OF THE MODEL OF OPTIMIZATION OF FINANCIAL MANAGEMENT METHODS AT THE ENTERPRISES OF COPPER MINING INDUSTRY
Abstract and keywords
Abstract (English):
The article is devoted to certain issues of developing a model for optimizing financial management methods at enterprises of the copper mining industry, the theoretical and practical aspects of the problem are investigated. The problem of effective financial management in this industry is becoming particularly relevant due to the variability of market conditions and strict environmental regulations. The study begins with a review of existing work related to financial management in the copper industry. The author analyzes various approaches to strategic planning and management. The basis of the research is the application of a comprehensive analytical and synthetic approach, including the collection of necessary data and their deep processing using multi-criteria optimization. The potential of integrating modern information technologies in order to further improve financial management is discussed.

Keywords:
copper industry, financial management, cost optimization, strategic planning, inventory management, multi-criteria optimization, market volatility, environmental regulations, investment, analytical approach
References

1. Saramak D. Optimal Production of Electrolytic Copper Determined by the Concentration and Distribution of Copper Concentrates to Smelters on the Example of KGHM // Archives of Mining Sciences. — 2011. — № 56 (3). — Pp. 369-382. — URL: https://doi.org/10.2478/V10172-011-0067-Z

2. Siemon M., Schiffer M., Mitra S., Walther G. Value-based production planning in non-ferrous metal industries: Application in the copper industry // IISE Transactions. — 2019. — № 51 (10). — Pp. 10851102. — URL: https://doi.org/10.1080/24725854.2020.1711992

3. Alonso-Ayuso A., Carvallo F., Escudero L., Guignard M., Pi J., Puranmalka R., Weintraub A. Medium range optimization of copper extraction planning under uncertainty in future copper prices // European Journal of Operational Research. — 2014. — № 233 (3). — Pp. 711-721. — URL: https://doi.org/10.1016/j.ejor.2013.08.048

4. Zhang H., Zhao J., Leung H., Wang W. Multi-stage dynamic optimization method for long-term planning of the concentrate ingredient in copper industry // Information Sciences. — 2022. — № 602. Pp. 259-273. — URL: https://doi.org/10.1016/j.ins.2022.05.013

5. Bazhenov O., Baev D. The impact of financial and economic crisis on copper industry performance // Economic Analysis. — 2019. — № 18 (9). — 1737-1745. — URL: https://doi.org/10.24891/ea.18.9.1737

6. Ye Z., Yan Q., Chen X., Guo J. Analysis on Pricing Mechanism of Global Copper. Proceedings of the International Conference on Electrical Engineering and Automation (ICEEA). — 2016. — № 146. — Pp. 733-737. — URL: https://doi.org/10.2991/ieesasm-16.2016.146

7. Vanin A.V., Voronov E.M., Serov V.A. Razrabotka metoda mnogokriterial'noy optimizacii dlya ierarhicheskoy sistemy upravleniya, osnovannoy na skoordinirovannyh stabil'nyh i effektivnyh kompromissah // Vestnik MGTU im. N.E. Baumana, seriya «Estestvennye nauki». — 2018. — № 6. S. 31–46. — URL: https://doi.org/10.18698/1812-3368-2018-6-31-47

8. Ivahnenko A.A., Ivaschuk O.A. Modelirovanie strategiy upravleniya zapasami avtoservisnyh predpriyatiy // Sovremennye naukoemkie tehnologii. — 2022. — № 12-2. — S. 217–222. — URL: https://doi.org/10.17513/snt.39462

9. Saramak D. (2011). Optimal Production of Electrolytic Copper Determined by the Concentration and Distribution of Copper Concentrates to Smelters on the Example of KGHM // Archives of Mining Sciences. — 2011. — № 56 (3). — Pp. 471-483. — URL: https://doi.org/10.2478/V10172-011-0067-Z

10. Orlova E. Model for discrete optimal control of the enterprise’s financial processes // Journal of Physics: Conference Series. — 2019. — Vol. 1368 (4). — P. 042054. — URL: https://doi.org/10.1088/17426596/1368/4/042054

11. Levytskyi V. The optimization of system financial management of enterprise based on the analysis of investments in its marketing activities // Economic Journal of Lesya Ukrainka Eastern European National University. — 2019. — № 2. — Pp. 101-108. — URL: https://doi.org/10.29038/2411-4014-2019-02-101-108

12. Chen D., Cheng W. Selection of Intelligent Financial Management Models for Chinese Enterprises Towards An Operational Framework. 2020 IEEE 18th International Conference on Industrial Informatics (INDIN), Warwick, United Kingdom. — 2020. — Pp. 435-439. — URL: https://doi.org/10.1109/INDIN45582.2020.9442136

13. Shukurov A., Niyazbayeva A., Baimukasheva Zh., Balginova K., Kalaganova N. Main problems of optimizing the company’s capital structure and global models // Bulletin of the National Academy of Sciences of the Republic of Kazakhstan. — 2020. — № 3 (331). — Pp. 244-252. — URL: https://doi.org/10.32014/2020.2518-1483.79

14. Suvorova I. Financial strategy as a component of the general strategy of the enterprise. Conference Proceedings of ASEM. — 2022. — Pp. 447-451. — URL: https://doi.org/10.53486/cike2022.52

15. Zhao J., Wang Y. Financial Management Strategies for Corporate Investments Based on Integer Linear Programming Models. Applied Mathematics and Nonlinear Sciences. — 2023. — № 9 (1). — URL: https://doi.org/10.2478/amns.2023.2.01227

16. Holopova M.K., Ermolina O.N. Optimizaciya struktury kapitala predpriyatiy sudostroitel'noy otrasli i OPK // Ekonomika i socium. — 2019. — № 1 (56). — S. 1001–1006.

17. Kvasnytska R., Mrozowski J. Criterional approaches to the formation of the optimal structure of capital of the enterprise // Modeling the development of the economic systems. — 2021. — № 2. — Pp. 12-18. — URL: https://doi.org/10.31891/mdes/2021-2-2

18. Babikova A.V., Korsakov M.N., Sarafanov A.D. Optimizaciya biznes-processov promyshlennogo predpriyatiya na osnove vnedreniya processnogo podhoda // Kreativnaya ekonomika. — 2017. — T. 11. № 11. — S. 1195–1208. — URL: https://doi.org/10.18334/ce.11.11.38474

19. Danilko V.K., Sity D.V. Enterprise’s financial resources management peculiarities in the conditions of market economy // Finance and Business. — 2014. — № 9 (2). — Pp. 133-147. — URL: https://doi.org/10.26642/jen-2014-2(68)-102-108

20. Chen B., Yang X., Ma Z. Fintech and Financial Risks of Systemically Important Commercial Banks in China: An Inverted U-Shaped Relationship // Journal of Risk Management. — 2022. — № 14 (10). —P. 5912. — URL: https://doi.org/10.3390/su14105912

Login or Create
* Forgot password?