DETERMINATION OF IRON PROCUREMENT STRATEGY FOR MANUFACTURING COMPANIES

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F75081431%3A_____%2F23%3A00002723" target="_blank" >RIV/75081431:_____/23:00002723 - isvavai.cz</a>

Result on the web

<a href="https://jssidoi.org/jesi/article/1145" target="_blank" >https://jssidoi.org/jesi/article/1145</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

DETERMINATION OF IRON PROCUREMENT STRATEGY FOR MANUFACTURING COMPANIES

Original language description

The objective of this paper is to evaluate the price development of iron (steel rebar and hot rolled coil steel) on commodity exchanges, to determine the dependence of the price of iron on prices of other major commodities (crude oil and natural gas), to forecast its future development and to propose a particular iron procurement strategy for manufacturing companies in the South Bohemian Region until the end of 2028. The content analysis method was selected to evaluate the price development. It was also used to assess the dependence of iron prices on other major commodities, which was considered using the correlation analysis method. The artificial neural network method, multilayer perceptron networks, was selected and used to forecast future price development. All calculations are performed using Statistica software (version 13). Linear regression is conducted using different functions, with 1,000 neural structures being generated each time, out of which 5 structures showing the best characteristics are selected. These are retained to forecast future prices for the 2023-2028 period in three experiments. Results are presented in tables and graphs processed in Microsoft Excel. Based on the selected variants of future steel price forecasting, a specific iron procurement strategy can be recommended for manufacturing companies in the South Bohemian Region until the end of 2028.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

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Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Entrepreneurship and Sustainability Issues

ISSN

2345-0282

e-ISSN

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Volume of the periodical

11

Issue of the periodical within the volume

2

Country of publishing house

LT - LITHUANIA

Number of pages

18

Pages from-to

331-348

UT code for WoS article

001131808300008

EID of the result in the Scopus database

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