New Risk Management Study Findings Have Been Reported from Financial University under the Government of the Russian Federation (Strategy of Digital Transformation of Industrial Enterprises: The Effects of The Introduction of Smart Manufacturing …): Insurance – Risk Management

Insurance Daily News

2022 NOV 14 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Investigators publish new report on risk management. According to news reporting out of Financial University under the Government of the Russian Federation by NewsRx editors, research stated, “The socio-economic effects from the introduction of smart manufacturing technologies are of significant interest in terms of their generalisation and systematisation at the current stage of the digital transformation on industrial enterprises, as well as the objectives in the context of industrial modernization and new business model development.”

The news journalists obtained a quote from the research from Financial University under the Government of the Russian Federation: “The proposed systematisation is based on the allocation of three groups of socio-economic effects according to the main direction of their action. The first group of effects primarily leads to reduction in the costs of industrial enterprises. The second group of effects leads mainly to an increase in revenues: some effects to a greater extent in the short and medium term, others in the long term, including through the creation of long-term distinctive capabilities, unique competencies, and sustainable competitive advantages for industrial companies. The third group of effects includes social and economic effects that are broader in focus and have a multiplicative effect, as well as the character of positive externalities (external effects).As a result of systematisation, the author identified in three groups, respectively, 12, 8 and 13 effects from the implementation of the complex of smart manufacturing technologies. The author stresses the particular importance of studying the socio-economic effects from the implementation of smart manufacturing technologies, since many improvements at the intersection of production and social transformation are currently insufficiently studied. It contrasts to the core production effects, many of which have been studied in sufficient detail by the scientific and expert communities.”

According to the news reporters, the research concluded: “Systematisation, classification, differentiation and quantitative assessment of various socio-economic effects of the complex of smart manufacturing technologies can and even in a certain sense should (in the context of the tasks to modernise the economy and industries of the Russian Federation) become a separate subject area at the intersection of performance management and smart production.”

For more information on this research see: Strategy of Digital Transformation of Industrial Enterprises: The Effects of The Introduction of Smart Manufacturing Technologies. Strategiceskie rešenia i risk-menedžment, 2022,13(3):210-225. (Strategiceskie rešenia i risk-menedžment - http://www.jsdrm.ru). The publisher for Strategiceskie rešenia i risk-menedžment is Real Economics Publishing House.

A free version of this journal article is available at https://doi.org/10.17747/2618-947X-2022-3-210-225.

Our news editors report that additional information may be obtained by contacting S. V. Ilkevich, Financial University under the Government of the Russian Federation (Moscow, Russia).