Skip to main content

2022 | Book

Proceedings on 18th International Conference on Industrial Systems – IS’20

Industrial Innovation in Digital Age

Editors: Assoc. Prof. Bojan Lalic, Assist. Prof. Danijela Gracanin, Assist. Prof. Nemanja Tasic, Assoc. Prof. Nenad Simeunović

Publisher: Springer International Publishing

Book Series : Lecture Notes on Multidisciplinary Industrial Engineering


About this book

This book proposes theoretically developed and practically tested solutions for manufacturing and business improvements achieved in the period between two conferences. It enables presentation of new knowledge and exchange of practical experience in industrial systems engineering and management. It brings together prominent researchers and practitioners from faculties, scientific institutes, and different enterprises or other organizations .This is the 18th edition of the conference. The Department of Industrial Engineering and Management at the Faculty of Technical Sciences in Novi Sad organizes a scientific conference on industrial systems engineering and management field of science and practice, once in three years.

Table of Contents

Quality Management and Innovation Performance: A Short Literature Review

The purpose of this study is to examine the relationship, and its nature, between quality management and innovation performance. Needless to say, quality management and innovation have the same purpose in the organization; they both provide continual improvement and sustainable development. A literature review was done, discussing the relationship between these two organizational aspects. The results suggest that the academic community is divided, concerning the positive nature of this relationship. However, the results of this study speak in favor of the positive findings, providing empirical evidence in supporting fostering power of quality management towards the development of innovation performance.

Stana Vasic, Marina Zizakov, Milan Delic, Dusko Cuckovic, Ilija Cosic
Evolution of a Complex System and Construction of International Ecosystem for Innovation and Entrepreneurship Under the Background of BRI

Confronted with difficulties and challenges throughout the world, humankind is inclined to collaborate due to the limited capability of each. The collaboration is the DNA of homo sapiens, which ensures the sustainable development of humanity.All human beings, institutions and resources can be considered as the nodes. One node itself cannot develop properly without any interaction with others. The society of human beings is a complex system supported by all the nodes interacting with others. The purpose of interaction and collaboration among all the nodes or the complex systems is to create values for each participant and preserve the public interests. The complex system or super one is growing intensified and its boundary enlarged endlessly due to the constant interactions.Therefore, the global collaboration in innovation and entrepreneurship is essential to each player’s business growth as it gathers all the resources, facilitates technology transfers, and provides access to new markets. Besides, inspired by the Belt and Road Initiative, the institutions from Eurasian countries have co-founded the International Ecosystem for Innovation and Entrepreneurship (IEIE) in the purpose of resourcing, matchmaking and technology transfer. Under the framework of IEIE, neoBay has been devoting itself to the development of IEIE’s online platform, and IEIE has so far organized three sessions of online events entitled IEIE | Think Tank, having attracted lots of participants in innovation and entrepreneurship across the globe. It has also proposed its initial operation mechanism. In the future, resourcing, matchmaking and technology transfer among IEIE members will be startup-oriented, realized through digitalization and global networking, and featured by large quantity, flexibility and decentralization.

Zhigang Zhang, Yang Xu
Social Media Advertising During the Pandemic: Online Retailers in Serbia

With the global spread of COVID-19 in the first half of 2020 and new government measures introduced on almost daily basis, people living in Serbia were experiencing changes in their everyday life, including their shopping habits. Organizations were facing a potential economy crisis, but also changing customer attitudes and behaviors. In this paper, social media advertising of online shops during COVID-19 pandemic of Serbia’s top 10 retail companies based on their total number of retail shops is examined. The mixed method approach was used. First, it was determined whether these retail brands previously had online shops, or online shops were opened in response to the crisis. Quantitative data about e-commerce website traffic was examined with SimilarWeb tool, while qualitative data about advertising on social media was collected from Facebook Pages and Facebook Ads Library (total of 493 Facebook posts and 138 Facebook ads). The results suggest that increase in online shops’ website traffic in April and May can be interpreted as a reaction of customers who were not able to go shopping at the time of crisis. By publishing content that primarily promotes their brand values, online retailers missed the opportunity to use social media as a communication channel to raise awareness about the benefits of online shopping, so that customers who started to shop online due to the crisis, would continue to buy groceries online even after quarantine ended. Serbian retail brands during this crisis relied on existing online shopping users and their electronic word-of-mouth marketing.

Milić Bojana, Spajić Jelena, Bošković Dunja, Lalić Danijela
The Impact of Digitalization on Quality Management in Health Systems: New Challenges and Opportunities

Developed countries face a twofold challenge that is to be addressed by implementing existing digital technologies. Digitalization offers benefits in both financial sustainability and improved quality, unlocking substantial value as a result. Despite having the ability to technologically implement new digital solutions, it is not done comprehensively. In many ways, nontechnological hurdles as well as sectorial grown, stiff structures and regularizations prevent a dynamic application of reforms and new provisions. Consequently, health care lacks behind industry when it comes to utilization of the digital transformation to extract further actionable insights, a deeper understanding of streamline processes and to ultimately deliver improved patient care. The purpose of this paper is to reveal new challenges and opportunities of the digital revolution in health systems by the identification of praxis-related, target-oriented defiance and further research opportunities.

Christoph Szedlak, Marcus Branke, Jane Worlitz, Bert Leyendecker, Ralf Woll
Deduction of Digital Transformation Strategies from Maturity Models

Nine out of ten business leaders plan to gradually increase their companies’ digital maturity. However, many struggle to pick from a wide range of promising digital solutions, facing major uncertainties with regard to a specific digital transformation strategy. Especially, Small and Medium-Sized Enterprises, rather stick to stand-alone solutions than developing comprehensive digital strategies. The purpose of this paper is to deduce digital transformation strategies in SMEs incorporating maturity models. The latter are often starting point to determine the status-quo of digital maturity and to deduce stand-alone measures. Although the content of digital maturity models is constant, the level of majority is dependent on the company’s strategy and operating model. Thus, maturity models can serve as a validation tool in an agile digital-strategy practice.

Christoph Szedlak, Holger Reinemann, Bert Leyendecker
Design and Development of Medical Devices

The medical device industry is one of the fastest growing industries. Medical devices cover a wide range of products for medical use, ranging from the simplest to the most sophisticated medical equipment. Thanks to today’s rapid development in both medicine and technology, the development of medical devices has been intensified. Given the multidisciplinary characteristics of such devices and their environment, the process of developing medical devices involves some special characteristics. Due to their potentially harmful effects in the interaction with tissues and organs, compliance with the various directives is of particular importance. For these reasons, it is necessary to carefully follow all steps in the design and manufacture of medical devices in order to obtain regulatory approval and licensing of the products, so that their implementation is safe for users. This paper demonstrates that medical device design is a unique and complex process which requires an organized development strategy that ensures that the product meets design and user goals, is technically reliable, and can be produced safely and efficiently.

Lozica Ivanović, Milan Rackov, Blaža Stojanović, Marko Penčić, Maja Čavić, Slavica Miladinović
Shaping the Future of Serbia’s Economy: Impact of the Industry 4.0 Platform on Industrial Output

Recently, the Covid-19 pandemic has hit the world economy as a meteor impact, provoking a truly systemic effect. It pushed the economy into pause, additionally downgrading risk appetite by persistently weakening demand, supply, employment, capital investments, and all forms of discrete investments (education, science, R&D, health care, etc.). Making a sustainable and inclusive growth pattern is not possible without the paradigm change both in microeconomics (technology (like Industry 4.0 model) and business model) and macroeconomics (resource and energy circulated model of growth and heterodox economic policy platform, including also Industry 4.0 Platform). The objective of this paper is to fill the present conceptual vacuum in economics with the aim to identify catalytic strategies for transition of growth model based on financialization and linear manufacturing into the resource and energy circulated model of growth and heterodox economic policy platform. Intention is to highlight insights about the macroeconomic specifics of Serbia and potentials of Industry 4.0 platform from engineering perspective as a way of sustainable and inclusive growth through new industrialization. Industry 4.0 is an opportunity for any post-Covid 19 macroeconomic scenario.

Vidosav Majstorović, Dragan Đuričin, Radivoje Mitrović
Integration of Game-Based Software Tools into Higher Education

Technology is increasingly being used in all areas and is greatly involved in modern education. This paper aims to examine the impact of using game-based software tools on student engagement and motivation during class. The goal of using game-based software tools is not to replace the work of teachers, but to support the active involvement of students in the topics currently under study. The results of previous research on the use of a game-based software tool and the results obtained using the same tool in an online learning environment are compared.

Danilo Nikolić, Dušanka Dakić, Aleksandra Kolak, Dajana Narandžić, Anja Janković
Improving the Reliability of Pneumatic Control Systems by Using Remotely-Controlled One-Way Flow Control Valve

In order to achieve an adequate level of flexibility and reliability in the traditional industrial plants, in line with the Industry 4.0 approach, they need to be upgraded by integrating modern control procedures. This means developing new control algorithms, integrating new components into the system, etc. This paper presents a new phase in the development and implementation of a remotely-controlled one-way flow control valve, which is used for the remote control of actuator velocity in pneumatic control systems, during the working process. In this way, the optimum, not the maximum possible actuator velocity at all times is enabled. This directly effects the reliability of the system as it extends the working life of component.

Vule Reljić, Želimir Trišić, Dragan Šešlija, Ivana Milenković
Toward Real-Time Data Analytics Application for Industry 4.0

The Industry 4.0 is moving the production towards smart production systems, based on new technologies (i.e. Internet of Things, Cyber-Physical Systems, Cloud Computing, Big Data and Artificial Intelligence). Companies rightfully have high expectations of Industry 4.0. However, one of the major obstacles is how to transform reactive, via proactive, to predictive production systems. The predictive production systems are new type of intelligent production systems that enable the implementation of new technologies for discovering hidden information in the raw production data, this way enabling prediction and prevention of errors that could occur in production. The discovery of hidden information in the raw data is enabled by the real-time predictive data analytics on the basis of which the real-time decision making models are applied in the production system. The present study proposes a conceptual framework for real-time data analytics for Industry 4.0. The framework is developed based on the analysis of the available literature and informed with direct experience in implementing Industry 4.0 technologies in practice.

Bojana Bajic, Nikola Suzic, Nenad Simeunovic, Slobodan Moraca, Aleksandar Rikalovic
Software Tools to Support Visualising Systematic Literature Review

A systematic literature review is a sine qua non for performing significant research in the selected field. However, it is a complex, error-prone and time-consuming process. In order to reduce the probability of errors’ occurrence during the literature review process, as well as to make it easier for researchers to perform this process, tools that support systematic literature review (SLR) are developed. Visualisation is essential for the conducting of SLR. There is a lack of researches about the software tools that could support SLR process by means of visualisation. This paper focuses on identifying visualisation tools that are currently used in practice to support SLR process. In the paper, we present and com- pare four tools in order to provide valuable information on current visualisation trends in the context of SLR, best practices, and preferable characteristics of visualisation tools for SLR.

Darko Stefanovic, Sara Havzi, Ivana Spasojevic, Teodora Lolic, Sonja Ristic
Learning Environment Digital Transformation: Systematic Literature Review

We are witnessing how digital technologies can be used to transform everyday life – launch new or grow incumbent companies, change teaching and learning environment, and research. The latest literature research has overwhelmingly positively assessed the use of digital technologies in higher education, indicating certain challenges in this regard. In the modern era, higher education institutions need to evolve steadily, following the digital transformation. Overall, the emphasis is on the encouragement and promotion of digital technology in the learning process. However, a small number of research papers addressed the learning environment’s digital transformation in the past decade. With the aim of contributing to a relevant topic, this paper presents a systematic literature review of related articles published on learning environment digital transformation in ten years. Accordingly, significant and eminent results are discussed, together with guidelines for future research.

Teodora Lolic, Darko Stefanovic, Rogério Dionisio, Dusanka Dakic, Sara Havzi
Overview of Application of Blockchain Technology in e-Government

Initially created as a technology to support peer-to-peer electronic cash systems, in recent years blockchain technology has been moving away from finance technology into other areas of application that could benefit from characteristics such as decentralization, transparency, and immutability. Significant researches are being done in fields of public services. In this paper, some of the prominent real-life applications of blockchain technology in e-government systems are presented. General benefits that could come to e-government systems from using this technology are also presented. Some open questions that exist in compatibility between e-government and blockchain technology are also being discussed, together with obstacles in the process of full integration of e-government and blockchain technology.

Miroslav Stefanović, Đorđe Pržulj, Sonja Ristić
Technical Debt Payment Practices and Rationales Behind Payment Avoidance in the Serbian IT Industry

Technical debt (TD), as a metaphor for utilizing quick workarounds to achieve short-term wins, is gaining attention in academia and industry. However, little is known about how companies pay off the accumulated TD, or why they chose to avoid this payment. The goal of this research was set to address this knowledge gap by gaining insight on TD payment practices, as well as on reasons behind the decisions to avoid debt payment in the Serbian IT industry. This research is a part of the InsighTD project—a globally distributed family of industrial surveys on TD—and as such it also amplifies the InsighTD reach and expands its knowledge base. A nationwide survey was conducted with practitioners from the Serbian IT industry, which was followed by a qualitative and quantitative data analysis. In total 79 valid responses were analyzed. Results show that TD is in most cases paid off by refactoring or by hiring specialized professionals, while the most common reasons why TD is not paid off include the lack of resources, complexity of the needed repayment work and the lack of management support. Results also suggest that payment of deadline-caused TD with additional work can generate additional TD injections due to tight schedule. This can motivate academics to conduct further empirical investigations while the practitioners can familiarize with practices for paying of the accumulated TD, as well as reasons for avoiding debt payment.

Robert Ramač, Nebojša Taušan, Sávio Freire, Nicolli Rios, Manoel G. de Mendonça Neto, Rodrigo Oliveira Spínola, Vladimir Mandić
The Path Towards Industry 4.0: A Comprehensive Methodology for Researching Serbian Manufacturing Industry: A Research Proposal

Since Industry 4.0 (I4.0) has become the guiding principle of manufacturing companies and policymakers in the majority of developed countries, many emerging economies have also adopted this concept to improve their national competitiveness and catch up with Western economies. The previous research presented that there are three main conditions for successful adoption and implementation of I4.0: technological, environmental, and organizational. Moreover, due to complexity caused by, e.g., cultural, political, economic, etc. differences, the conceptualization of such a methodology for emerging economies like Western Balkan countries is particularly challenging. Following the identified gap in lacking comprehensive research on the manufacturing sector’s readiness for industrial digital transformation in Western Balkan region (e.g. Republic of Serbia), in this paper is presented a research proposal for researching the I4.0 readiness of the Serbian manufacturing industry.

Djerdj Horvat, Ugljesa Marjanovic, Marko Pavlovic, Slavko Rakic
Analysis of Influential Elements of Entrepreneurial Ecosystems

It is evident that change is ever-present in today’s uncertain market conditions. The countries that recognize this are predisposed to reaching significant economic growth and development. Furthermore, it is important for all countries to acknowledge that the concept of growth and development has changed, compared to what it used to be in the beginning of the 21st century. Economy is now going through structural changes, from the, until now, dominant “mass economy” based on mass production and use of energy resources, to the “economy of knowledge” in which there is a market shift towards the factor of knowledge. This poses one of the most crucial challenges the countries around the world have been facing in the past decade and it is a challenge closely related to the growing importance of non-physical capital, i.e. human and intellectual capital in creating opportunities and wealth. The last few decades have seen an increase in entrepreneurial endeavors, which has certainly helped to tackle, overcome and benefit from the changes in uncertain environments. Hence the widespread understanding that the success of the economy of knowledge greatly depends on entrepreneurship, which is one of the main initiators and motors of economic growth and development. The notion of entrepreneurship has evolved as well, into a more holistic and multifaceted understanding of entrepreneurship, where there is a growing opinion that sees “ecosystems as supporters of entrepreneurship”. The purpose of this paper is to analyze the influential elements of entrepreneurial ecosystems, through a theoretical overview, during the entire life cycle of a new venture.

Jelena Raut, Slavica Mitrović Veljković, Boban Melović, Eda Ribarić Čučković, Đorđe Ćelić
Metal Artefact Reduction from CT Images Using Matlab

Artefacts are common threats in computed tomography images, which deteriorate the image quality and limit the diagnostic value of the examination that results in lower treatment outcomes. Degradation of CT image quality is happening due to the metal implants, which are shown as dark and bright streaks across the image. Beam hardening and photon starvation are main reasons for presence of artefacts in CT images caused by dental fillings, surgical clips, artificial hips etc. Metal artefact reduction methods have been one of the most common subjects of recent research in the field of medical imaging. The aim of this paper is to propose a methodology for artefacts reduction using Matlab, which benefits the suppression of artefacts in the image domain. Reconstruction of images is based on thresholding techniques and manipulation of pixel data to accomplish the correction of CT images. Results show that it is possible to reduce streaking artefacts and thus enhance medical image quality.

Andrea Gutai, Dunja Sekulić, Ivana Spasojević
Improving the Energy Efficiency of Pneumatic Control Systems by Using Remotely-Controlled Pressure Regulator

One way to save energy in pneumatic control systems is the decreasing of operating pressure. Accordingly, it is necessary to monitor the working process continuously and, in line with the current requirement, to adjust the operating pressure to provide that the actuator works with optimum, not the maximum possible, operating pressure at all times. Fulfilling these requirements is possible with the use of special, “smart” components, which can communicate with the control system during the operation. In this paper is shown the first phase in the development and implementation of a new, “smart” component – a remotely-controlled pressure regulator, which is used for the remote change of operating pressure in pneumatic control systems, during the working process. This directly improve the energy efficiency of the system because the compressed air consumption is reduced.

Vule Reljić, Petar Knežević, Dragan Šešlija, Slobodan Dudić
Optimization of the Number of Active Servers and Break Schedule: A Case Study

A queuing system with a single queue and a changeable number of service points is considered. The optimal break schedule for a different number of service points, as well as the optimal number of service points, are proposed. The main goal of this paper is optimizing the average waiting time, optimizing the number of service points and scheduling the break time periods. For the considered system, some basic assumptions from the classical theory of mass service are not satisfied. The complexity of the observed system is far beyond the one which is usually considered. Some standard methods used in the mass service theory (such as N-policy, T-policy, D-policy, etc.) are failing, as well as the assumptions related to the input data. Thus, simulation–based approach has to be considered. The data collected during the observation of a single postal unit are statistically analyzed and used to define parameters used in the simulation.

Darko Čapko, Slavica Medić, Nedeljko Stojaković, Tatjana Grbić
The Validity of Adopting the Knowledge Management Strategy as a Development Policy of the University of Novi Sad

The paper investigates the validity and necessity for the development of the Knowledge Management Strategy at the University of Novi Sad as a management policy towards the development and the implementation of development trends. The research is based on the needs analysis of all 14 faculties of the University of Novi Sad for knowledge management strategies according to which these educational organizations would be guided. Knowledge management as a development process promotes modern forms of e-learning, and supports strategic planning, decision-making and problem solving. The development of educational technologies has introduced changes in learning models at faculties and universities around the world. The basic elements that are analyzed in this paper considering the Knowledge Management Strategy at the University of Novi Sad are resources - hardware and software, practices and methods, and internal and external factors. The universality of this topic opens up new vistas for every faculty and university which is considering the introduction and adoption of the Knowledge Management Strategy. In addition, the Knowledge Management Strategy at the University of Novi Sad points to the possibilities of strategic alliances that bring a huge potential for acquiring new knowledge as well as international cooperation based on knowledge management.

Julija Švonja
Project Management Challenges in Implementing Agile Methods in Manufacturing SMEs

A changing business environment brings unpredictable and uncertain future for companies. While demands and expectations of stakeholders are simultaneously growing, on the other hand, companies need to be agile - to design their processes in the way to respond effectively to current and upcoming changes. Although agile project management has been primarily related to the software development, it can be applied to other processes, such as manufacturing. Manufacturing business processes are ones that are the most complex and require using appropriate methodology, tools and techniques to achieve specific process objectives. Due to a lack of resources, SMEs (Small and Medium Enterprises) not likely to make use of formalized project management practices, but some of their elements are used in order to achieve a higher efficiency of the production process. The purpose of this paper is to examine to what extent traditional and agile project management methods can improve success of business activities in manufacturing SMEs. Based on the previous researches, authors have a tendency to show a strong relation between using project management practices and improving business performances in SMEs.

Fajsi Angela, Moraca Slobodan, Milosavljevic Marko
IoT-Based Delivery System in State of Emergency

States of emergency that occur as a consequence of epidemic and pandemic spread of the disease (influenza, Covid-19) negatively affect all human activities. In states of emergency, various measures can be applied in order to reduce the potential risks to human health and life to a minimum. The most common measures refer to the interdiction on the work of markets, the interdiction on the restriction of movement, the restriction of the number of people who can enter shops and pharmacies at the same time. These measures affect one of the most critical activities, the procurement of food products and medicines. Due to various restrictions, it is difficult or impossible for people to procure food products and medicines, especially for the elderly and the sick ones. On the other hand, this affects both producers and sellers of food products for whom the sale of food products is the main source of finance. In this paper, the conceptual solution of the IoT - based delivery system in state of emergency is presented. The proposed solution enables the connection of food producers, suppliers and customers. Customers are enabled to purchase food products and medicines more easily, while producers are enabled to place food products on the market more easily during emergencies. The proposed solution provides higher security, because contact between people is kept to a minimum and allows monitoring of the establishment of contacts in the event of the spread of infection in order to inform potential patients.

Srdjan Tegeltija, Gordana Ostojić, Ivana Šenk, Laslo Tarjan, Stevan Stankovski
Industry 4.0 Enablers: Implementation of Organizational Concepts as a Support for Technological Improvements of Manufacturing Companies

Research related to the Industry 4.0 is mainly oriented towards the use of advanced manufacturing technologies that are considered as enablers of this new manufacturing concept. The importance of organisational aspects in this context is starting to get recognised, but there is a lack of empirical research that supports these claims. This paper aims to go one step backwards and to analyse the relationship between the implementation of organizational concepts and technologies that are vital for manufacturers aiming to introduce Industry 4.0 concept. The analysis is based on the dataset collected from 240 Serbian manufacturing companies in 2018 through the international project European Manufacturing Survey. Using the regression analysis it is revealed that utilization of concepts related to organisation, management, and controlling of production have a positive impact on the implementation of advanced manufacturing technologies in companies. This paper highlights the complementarity between organisational and technological aspects of production and their relevance for manufacturing companies. Furthermore, this paper provides empirical evidence on the use of organisational concepts and advanced manufacturing technologies in manufacturing companies from a transitional country, thus opening a debate for those researchers and practitioners interested in research related to transitional economies.

Tanja Todorovic, Nenad Medic, Zoran Anisic, Nemanja Tasic, Danijela Ciric, Bojan Lalic
Maintenance- and Strategic Physical Asset Management: Morphologies of Two Connate Concepts

This paper aims to examine the relationships and delimitations between maintenance management (MM) and physical asset management (AM) concepts. There are several standards, e.g., ISO 5000*, DIN 31015, and DIN EN 13306, which define the basic terms connected to maintenance and asset management. However, they lack a clear differentiation between the two terms, and in the scientific literature, they are often used interchangeably. To gather an in-depth understanding of the usage of the two terms, a literature review (LR) was conducted based on different search strings around MM and AM. Using the principles of Design Science Research (DSR), a model was created to describe the morphologies of companies on the spectrum from MM to AM. For validation, data from assessment- and optimization projects with Austrian and German industrial companies in the fields of MM and AM was used. The results are a proposal for a differentiation scheme by the authors and a classification method that helps to understand the differences between MM and AM.

Oliver Schmiedbauer, Hans Thomas Maier, Florian Kaiser, Hubert Biedermann
Digital Marketing in China - Weibo and Fan Economy

During the previous decade, People’s Republic of China undoubtedly became one of the main drivers of digital marketing in the World. Digital marketing trends in China move so quickly that it is quite hard for foreign companies to keep up. With the booming of mobile devices, social platforms have changed the way how people communicate and play an important role in daily life, stimulating the growth of social media marketing. Sina Weibo, as one of the major social media platforms in China, also acts an influential digital marketing channel having almost 400 million users. This paper focuses on the difference between non-fan and fan users in order to analyze the target audience and classify Sina Weibo users into various fan levels. The results are related to user pattern, including the preferred features, purchasing behaviors on Sina Weibo VIP membership, of non-fan users and fan users (in different fan levels) and how it would affect the marketing practice on Sina Weibo. This paper provides a new perspective on Sina Weibo user behavior analysis, gives a clear definition of non-fan and fan users and discuss the difference in their user pattern. The findings are very valuable for marketers and companies from China and abroad, especially from the Belt and Road countries, interested in digital marketing in the largest market in the World. In order to effectively promote in China, it is crucial to better understand users on Sina Weibo and lay the foundation for future successful Sina Weibo marketing campaign.

Nikola Zivlak, Shiyuan Zhang, Yueqi Shi
Automating Multidimensional Security Compliance for Cloud-Based Industry 4.0

Industry 4.0 is a concept emerged from technological advances in different fields, from expansion of cyber-physical assets to industrial internet of things encompassed with cloud-adoption that drives big data analysis and artificial intelligence applications. Innovating in such technological landscape imply higher risks both in information security and privacy as various cybersecurity threats exist in each technology. Therefore, the information security management system (ISMS) and system security plan (SSP) in industry 4.0 must manage multiple standards and regulations relating to different scope leading to multidimensional compliance problem.Managing SSP compliance with standards or regulations that overlap in scope and evolve over time is based on assessing and documenting security controls. Relying on manual efforts while the complexity and scope keep increasing is inefficient and often not possible due to the lack of the cybersecurity resources.The paper describes a process to create an industry 4.0 relevant SSP that can be automatically assessed for easier compliance management. In addition, a baseline SSP is created focused on security controls needed for industry 4.0 systems based on cloud environments.The proposed approach suggests that automated security controls assessment and auditing can be achieved which enables continual improvement of the SSP and increased efficiency for any organization trying to manage security audits. As the presented baseline SSP can be easily customized following the described process, the baseline can be used by any organization as a starting point to create the automated security management for industry 4.0 systems.

Nikola Dalčeković, Goran Sladić, Nikola Luburić, Milan Stojkov
Integration of Value Stream Mapping and Discrete Event Simulation: A Case Study from Lean

The purpose of this paper is to present the practical implementation of value stream mapping (VSM) by monitoring selected key lean parameters and using a discrete event simulation (DES) to generate scenarios for improvement of the process.The value stream mapping, as one of the basic lean tools, forms the basis for presenting the current state of the system and at the same time opens guidance and opportunities for improvement. The experimentation, i.e. the transition from “as is” to “to be” state of the system is driven by the discrete event simulation, which eliminates the disadvantages of the classic “pencil driven method” and replaces them with the possibilities of the simulation as a tool where it is easy to quantify the change in the system and show the benefit of implementing lean methods. The progress and transit to the future state of the system is monitored through selected key performance indicators. Various experiments have been conducted showing the methodological approach to process improvement.

Bojan Jovanoski, Robert Minovski, Marjan Todorov, Trajce Velkovski, Bojan Jovanovski
Trust in the Modern Organization: Success Factor in Open Innovation

As a complex and convoluted concept, trust has many dimensions on which it is based, and which are more or less clearly visible. Understanding the process of establishing trust between people and groups implies understanding the various sociological, psychological, cultural and economic relations that determine the structure of trust. Most often in the literature trust is defined through dimensions that are not always clearly identified and that often aggravate the trust measurement problems. This paper analyzes the dimensions of trust, perceived through different theoretical approaches and concepts, but also through the results of a case study research in Serbia. According to conducted research one of the bases for the development of trust is the assessment of the competence of the other party in communication and interaction process. The aim of this paper is to point out the possible benefits obtained by researching the role of trust among employees. The obtained results open numerous questions related to subjective assessments in business communications, the possibilities of their objectification, but also the potential for creating open innovations in organizations.

Ana Nešić, Ivana Katić
The Power of Media Message in Advertising of Medical Preparations

The presence of topics on health, health system, health policy and public health messages in the mass media has been on the rise. This has been accompanied by an increase in advertising of medical preparations and dietary products. The research conducted on a sample of 150 respondents aimed to determine the trust of research participants in media messages about medical preparations, with special reference to their attitude towards advertising of dietary supplements and their possible intention to buy and use those products, being encouraged by media advertising. The research showed that almost four fifths of respondents in the research were informed about health topics through the media and the same percentage of them was informed through television and social networking sites. Although the majority of respondents did not use the advertised dietary products, research showed that they were well informed about the attractive advertisements of these medical preparations. Furthermore, the participants were divided over their trust in those media advertised products.

Iva Šiđanin, Milica Njegovan
Foreign Direct Investment and Investment Environment: A Systematic Approach

Globalization as phenomenon has intensified the formation of complex adaptive approaches to international business operations, which has resulted in significant organizational activities that include foreign direct investment (FDI), as one of the most important components of contemporary business models. The subject of the research is the analysis of FDI, whose growth can be statistically insignificant or even negative, while FDI in interaction with the growth of investment activities, can have a positive effect on the growth and development of the observed enterprises. The research objective is to determine the performance of FDI with special reference to the situation and opportunities in the investment environment. The research methodology involves the use of the systematic approach and the correlation analyses. The results of the research are significant both to the academic and professional community and indicate that the consequences of the impact of FDI are fuzzy given the dynamic conditions of the investment environment.

Vladimir Djakovic, Mirjana Sujic Stamenic, Nebojsa Ralevic, Slobodan Radisic, Jozef Kabok
Foreign Direct Investments in Serbian Power Sector: A Discussion on Investments and Impact on Economic Growth

In modern business environment, Serbian energy sector faces a number of challenges that need to be solved in order to ensure the future efficient, effective and sustainable provision of energy services to the population and economy. The power sector is essential for a country’s economy because it directs the entire energy sector to a sustainable and cleaner path. Growing pressures for energy security, reducing energy costs and increasing energy efficiency bring many problems and obstacles, and foreign direct investments (FDI) contribute to overcome these problems, especially in the emerging countries, such as Serbia. Currently, Serbian energy sector is in development phase and in the past few years Serbia has passed through strategic documents and laws that open the possibility of faster development of this crucial sector. There is a large number of scientific papers examining the impact of FDI on other economic sectors, but a scarce number of papers examining their impact on the energy sector. Therefore, the aim of this paper is to discuss Serbian case by analyzing the current state of Serbian FDI inflows by sectors and conducting Pearson’s multiple bivariate analysis for post crisis period, to study the correlation between selected Serbian power sector variables (energy FDI inflows, electricity consumption and CO2 emissions) and economic growth measured by Gross domestic product (GDP).

Aleksandra Pavlović, Milica Njegovan, Andrea Ivanišević, Mladen Radišić, Alpar Lošonc
A Model for the Evaluation of the Information Processing Rate of Smart Operators

The evolution of production environments towards Industry 4.0 paradigm led to a workload shift from physical to more cognitive activities, leading operators to perform tasks more cognitive-oriented. According to recent scientific studies, the typology of tasks as well as their complexity in smart factories will significantly change with the increased role of automation and artificial intelligence. Consistently to this trend, in the future work environments, operators will frequently interact with ever-smart machines. Under this perspective, the operators of smart factories, so-called “smart-operators”, will manage an increasing amount of information and data during the decision-making processes. In scientific literature many studies are available on the evaluation of the operators’ effort for the accomplishment of a physical-oriented task, but clear gaps are present for the evaluation of the operators’ capacities and effort involved in cognitive-oriented tasks. In this paper, an analytical model allowing to evaluate, based on the operator’s experience and on the complexity of the cognitive-oriented task to be performed, the Information Processing Rate (IPR) of a specific operator is presented. The results of the numerical experiment carried out proved the effectiveness of the model to provide the IPR of the operators by varying their experience and to evaluate if an operator is eligible for the accomplishment of a cognitive-oriented task. A potential application of the model is in the design phase of a cognitive-oriented task to predict the feasibility of its accomplishment by focusing on the capacities of operators.

Salvatore Digiesi, Francesco Facchini, Andrea Lucchese, Giovanni Mummolo
Impact of Coronavirus COVID-19 Crisis on Insurance Industry of Serbia

Coronavirus - COVID-19 pandemic had a huge impact on companies and business worldwide in 2020. Insurance industry is no different. They faced many unpredictable and demanding situations that require adaptation through the changes in company business, human resources, employment and management. The main aim of our research is to collect, analyze and compare data about these areas which suffered during the coronavirus pandemic period. In this paper, some insurance companies that have offices in Serbia, are used to collect data. As a result of research, we will have insight into managerial moves that they made to handle this crisis on the best possible way, how big impact coronavirus crisis had on their business and is there something that they learned from this crisis that they can use to improve their business and to grow in the future.

Marko Vuković, Djordje Ćosić
Bank Controlling in Montenegro: Effects of the Pandemic Crisis on the Montenegrin Economy, Banking Sector and the Profitability of Banks

Factors such as the expanding rate of globalization and growing bank competition have necessitated cutting net interest margins. Although the importance of controlling in banking business is becoming more recognized, there are still some common misconceptions regarding its exact purpose and implementation. Controlling function in the biggest banks in Montenegro is placed under the department of Finance (third level in the organizational hierarchy). The controllers within the banks are not fully involved in making major decisions. An effective controlling function is becoming even more critical now when the financial performance of the Montenegrin banks has been affected by the COVID 19 pandemic. The effect of the pandemic on the banks in Montenegro has been two-fold. On the one hand, it has led to an increased uncertainty and volatility in the banking market, and on the other to the increased demand for controlling and frequent use of forecast models. Since the effects of the global pandemic could not be anticipated, previously prepared budgets are no longer operational.The goal of this study is to determine the effects of the changes in the economic activity at the sector and macroeconomic level on the profitability of banks, measured by banks’ return on equity (ROE) and return of assets (ROA). The study includes several bank-specific indicators such as: total assets (TA) and credit risk (CR). Also included are macro-economic indicators such as: gross domestic product (GDP) and interest rates (INT). The study used a regression model and included 15 banks in Montenegro.

Srdjan Jankovic
Media and Sport: Mutual Benefit

Sport has played a significant role in the growth and development of mass media, especially television, since the formative phase of their emergence. On the other hand, the mass media attracted commercial sponsorship to sports events, thus contributing significant revenues, both to sports clubs and to the media outlets themselves. The positive effects of media coverage of sports are in education about the importance of sports and sports rules, in creating sports role models, encouraging sports, and the development of sports journalism. A survey conducted on a sample of 120 participants showed that for over 60% of them, television is still the most watched media outlet when it comes to sports events. Slightly less than half of the respondents were of the opinion that there should be more articles about sports in the mainstream media. Also, close to a third of the respondents stated that they dedicate from two to as many as five hours a day to television reports on sports. When it comes to journalistic genres that represent sports and sports events, interesting answers were obtained. Namely, a significant percentage of respondents thought that sports television reports, in terms of genre, should be of the documentary type, and in correlation with that, it was stated that there is a lack of quality analysis of sports events. This indicates that sports journalists, although very competent in their field, do not have the opportunity to do serious investigative work in sports journalism.

Biljana Ratković Njegovan, Sonja Bunčić, Iva Šiđanin
Lean Approach to Lead Time Reduction in MTO Manufacturing: A Case Study

In order to improve operational performance, many companies adopted lean approach in their manufacturing processes. Although most of those companies revealed to be effective in lean implementation, small and medium-sized make-to-order (MTO) companies, faced with high mix and low volume production, had difficulties to implement lean. The mix of orders and the specific demands of every customer can increase the time from the placement of an order to the delivery to a customer. In that case, lead time can be long since the process typically includes steps such as ordering/sales, design, adjustment, procurement, production, assembly, delivery and installation. In order to reduce lead time in manufacturing processes, implementation of lean approach can be of great benefit. For that purpose, this paper analyzes lean approach applicability to MTO companies. The paper presents the implementation of lean in MTO manufacturing company that deals with the production of custom furniture. The results were obtained through systematic identification and elimination of wastes in all phases of the process, and show that significant lead time reduction can be achieved through lean implementation in MTO manufacturing.

Ivona Jovanović, Ivan Tomašević, Dragana Stojanović, Barbara Simeunović, Dragoslav Slović
The Outcomes of Lean Implementation in High-Mix/Low-Volume Industry – Literature Review

Many companies in the world have used lean to achieve significant improvements in both efficiency and effectiveness. However, most evidence of lean implementation stem from manufacturing environment similar to one lean was developed in, i.e. product-focused and to-stock Low-Mix/High-Volume (LMHV) manufacturing. High-Mix/Low-Volume (HMLV) industry, on the other hand, is usually process-focused, with to-order manufacturing, and as such it comes with specific set of goals and priorities, and possibly different set of lean implementation outcomes. This paper aims at investigating the outcomes of lean implementation with a specific focus on High-Mix/Low-Volume. For this purpose, a systematic literature review procedure was conducted, in order to analyze implementation reports from state-of-the-art literature. The results show that HMLV companies mostly report efficiency related, easily quantifiable outcomes, stressing the positive side of lean. What literature lacks to report are intermediary outcomes (e.g. better understanding of processes, teamwork and collaboration, problem solving abilities), as well as results regarding customer satisfaction. In addition, reports also lack the issue of outcomes sustainability, as most papers show evidence from short-term case studies.

Ivan Tomašević, Dragana Stojanović, Barbara Simeunović, Ivona Jovanović, Dragoslav Slović
Evaluation of the Complexity of Cognitive-Oriented Tasks in Planned Maintenance Procedures

A core aspect of Industry 4.0 (I4.0) is the continuous communication between humans, machines and products enabled by cyber-physical production systems. The high complexity of tasks to be processed require an increasing cognitive effort. Under this perspective, the maintenance procedures are changing. Maintenances activities in I4.0 context can be considered as complex decision-making processes where the best option to solve problems is strongly affected by the capacity of the operator to quickly process the given information. The purpose of the paper consists to evaluate the complexity of cognitive-oriented tasks that must be performed by operators in planned maintenance procedures. At this scope, the joint adoption of the TACOM measure and the graph theory is pursued. The proposed methodology is tested on different planned maintenance procedures related to automotive and mechanical production sectors. The results showed a strong correlation between graph structures in terms of both the number of events and links, and the cognitive demand required for the information processing.

Andrea Lucchese, Antonella Marino, Giorgio Mossa, Giovanni Mummolo
A Procedural Model for Utilizing Case-Based Reasoning in After-Sales Management

The identification of spare parts as an integral part of maintenance processes especially in mechanical and plant engineering requires expert knowledge. The main reason is an undeniable information gap in existing service documentations. Knowledge-based approaches may facilitate and ensure standardized management of service kits. This paper introduces an integrated procedural model deploying case-based reasoning (CBR) to document expert knowledge, and to automatize spare parts identification processes. The application of the procedural model is exemplified in an industrial use case, which deepens insights into the case derivation and solution generation steps using necessary similarity measures and related algorithms.

Martin Riester, Fazel Ansari, Michael Foerster, Kurt Matyas
On the Technical Debt Prioritization and Cost Estimation with SonarQube Tool

Commonly, software developers are faced with situations to compromise internal quality to achieve short term goals, e.g. time-to-market. In software engineering, such compromises are described with Technical Debt (TD) concept. TD implies cost of additional rework—usually expressed as effort—and when the code is compromised, it is called code debt. One of the most popular tools for identifying TD items and estimating effort for solving them is SonarQube. However, there is still a need for empirical validations of remediation times that SonarQube estimates. The objective of this research is to validate the usefulness of the tool for novice developers in terms of understanding SonarQube’s categorization of criticality levels of TD issues and accuracy of estimated remediation times. We designed and conducted an empirical study with 185 students in a context of university software engineering courses in Finland and Serbia. The estimates provided by SonarQube are more pessimistic, i.e. only in 3% of cases the actual fixing time was higher that the estimated one. Our results also indicate that participants’ perception of the criticality levels of the TD items is misaligned with SonarQube’s classification and prioritization.

Andrej Katin, Valentina Lenarduzzi, Davide Taibi, Vladimir Mandić
Fundamentals of Integrated Risk Management Model in Business Processes

Methodologies for identifying and measuring inherent and residual risk already exist for business risk management and business process management. Existing methodologies are in most cases descriptive, and the descriptions are based on subjective knowledge of business processes and internal control systems.If the focus of managers and internal auditors, in creating and controlling business processes, thanks to risk management, is shifted from the past and present, the integrated model values the impact of inherent risks and measures the impact of internal control systems on its reduction is projected into a realistic future. Although it requires additional engagement in the analysis and forecasting of the financial and yield position, as well as the implemented system of internal controls in the business processes of the entities. The integrated business risk management model is simple and economical in its application. The aim of this paper is to show that the application of this Model, among other things, achieves a strategic approach to business risk management in accordance with the adopted strategic plan of the entity, primarily through the analysis of management processes. The result of the work is the development of a model that could be applied in any company, regardless of the activity and ownership structure.

Tamara Bojanić, Branislav Nerandžić, Branislav Stevanov, Danijela Gračanin
Collective Aspects of Capability-Based Innovating Firm

The paper comprises two parts and a conclusion. The first part shows why capability-theory is relevant for the management and some moments selected particularly in relation to this subject. We offer argumentation for five aspects (relevance of management, capabilities and constitutive position of management-subjectivity, management in the context of endogenous and exogeneous heteregeneity of firms, capabilities and resilience, capability theory and knowledge-intensive firms). The second part presents two serious problems that the capability theory faces: a) individual and collective aspects of knowledge in the firm, b) processuality of knowledge-appropriation. Finally, in the conclusion, management is emphasized as the process of trade-offs between different aspects of firm.

Alpar Lošonc, Andrea Ivanišević, Mladen Radišić, Ivana Katić
Data Literacy: An Essential Skill for the Industry

Data literacy is the ability to read, write, critically assess, communicate and extract value of data in different contexts. As such, data literacy is a key competence in the current digital economy, where most transactions require handling high amounts and variety of data. For a data literate workforce in the data-driven industry, there is a critical need for training and educational curricula that address this key competence, both in Higher Education and professional development programs. Through a systematic desk research spanning over 15 European countries, this paper sheds light on how data literacy is addressed in European Higher Education and professional training. Official syllabuses and educational documents have been examined to determine the strengths and challenges of data literacy enhancement, and identify the needs and opportunities for data literacy-specific training programs that promote a data-driven culture within the European industry ecosystem.

Manuel Leon-Urrutia, Davide Taibi, Vera Pospelova, Sergio Splendore, Laimute Urbsiene, Ugljesa Marjanovic
European Startup Ecosystem as a Star of Economic Development

In the recent years, startup ecosystems have been receiving increasing attention from scientists, governments and entrepreneurs in developed as well as in developing countries. Some of the main advantages of startups are their ability to encourage innovation and make a great contribution to the economic development of the countries. Thanks to the growing support and interest in this type of business and high growth potential, entrepreneurship based on innovation, especially in the form of startups, continue being an important issue for years to come. Its importance will especially be emphasized during the process of defining future development strategies at both micro and macro levels. The aim of this research is to present the most developed European startup ecosystems, and their comparative analysis, according to their basic indicators. In this way, the general picture of the European startup ecosystem will be perceived with the necessary consideration of its specifics and growing potential.

Aleksandar Vekić, Jelena Borocki, Kristina Đorđić, Olivera Cikota
Digital Transformation Missing Ingredients: Data Literacy

Employees with data literacy skills have become highly valuable in today’s economy and labor market. More than ever before, employers demand some degree of data literacy from all employees, regardless of their professional role. New technologies offer many exciting possibilities, but there is no point in having increasingly quantities of data if nobody knows how to explore it efficiently. The aim of this study is to examine data literacy at the Universities and industry as well as the study of existing certification systems for data literacy competences. Our analysis uses results from online survey conducted in 20 countries in Europe and North Africa. The results will support the universities and industry to offer innovative, competence-based, cross-cutting data courses for all the students interested in developing or fine tuning their data competences needed for a successful digital transformation process in the job market.

Ugljesa Marjanovic, Davide Taibi, Pedro Cabral, Laimute Urbsiene, Agim Kasaj, Susana M. Marques
Startup Opportunities in South-East Europe Region

The development of the IT industry, new technologies, access to high-speed Internet in almost every part of the world, has led to significant changes and economic growth. The recognition of relevant development opportunities is one of the basic factors of success in modern business. Startup companies represent a vital part of modern economies and they are constantly looking for an adequate business model. It should define the model of their initial financing, the path of their development, use of modern technologies, human and all other resources, and consideration of all environmental factors that affect business of startup companies. This paper will present comparative analysis of the South-East Europe (SEE) region according to the Global Entrepreneurship Index (GEI), which was created by The Global Entrepreneurship and Development Institute, with special reference to the Abilities Sub-Index and its main pillars over a period of 2014–2019. The main goal of this paper is to display the observed parameters, provide and give recommendation as quality basis for further establishment and development of startup companies in selected region.

Aleksandar Vekić, Jelena Femić, Milica Tišma, Marko Vrška
Deep Autoencoder Based Leakage Detection in Water Distribution SCADA Systems

Recent advances in industrial automation linked to the development and pervasive implementation of Industrial Internet of Things (IIoT) bring greater networking and communication possibilities, as well as higher volumes of available data about the systems and processes. Modern Supervisory Control and Data Acquisition (SCADA) systems follow these advances by encompassing the convergence between IT (information technology) and OT (operational technology), leading to increased possibilities for data analysis and predictions, providing faster, smarter and more flexible systems with early error detection. Such systems can bring great improvements in water distribution systems, which are becoming increasingly complex following the population growth, and should be reliable and safe since they directly influence public health. In these big and complex systems early error detection is crucial, as it can reduce maintenance costs and detect errors before they reach catastrophic stage. One of the common problems in such systems is water leakage, which usually happens due to pipe bursts and poor infrastructure. With increased system complexity, error detection is getting more complicated and often can be discovered too late. In this paper we propose a model based on a deep autoencoder neural network for leakage detection in water distribution systems. We train and test the model using the LeakDB benchmark algorithm. Such a model can be applied to real world data in a SCADA system to predict and discover water leakage errors, thus lowering the repair costs and improving overall system reliability.

Nataša Radaković, Ivana Šenk
Distance Learning in Higher Education During the COVID-19 Pandemic

The Covid-19 virus pandemic has changed regular work processes in Higher Education Institutions (HEIs) all around the world. Regular classes have been suspended, and the traditional learning system has been replaced by an online approach. In order to teach continuously, teaching staff from the HEIs has focused mainly on the Learning Management Systems (LMS), software, online collaboration tools, etc. The aim of this research was to explore and highlight the key elements of the used LMS and other collaboration tools that were used as the support for online classes during the spring semester 2020 (ZOOM, Microsoft Teams, Skype, Viber, Go to Meeting, Active Presenter, Discord, Google Meet, Jitsi Meet, etc.), as well as their specific features, and to discover whether the distance learning platforms and tools can facilitate the process of education during the emergency situations. The results of this study highlighted the benefits of different online tools and platforms for distance learning.

Jelena Ćurčić, Anja Jakšić, Ksenija Mitrović, Jelena Spajić, Branislav Bogojević
The Impact of the Type of Education on Attitudes Regards Corporate Responsibility Towards Employees

For the use of company’s corporate responsibility concept, it is of vital importance to raise employee’s awareness about the importance of corporate responsibility to a higher level and to provide the understanding of the importance of its use, as well providing bigger dedication of the employees to the use itself. This study shows the research on the existence of differences in attitudes regarding corporate responsibility towards employees in relation to the type of their education and in what they are reflected. Research was done on a sample of 153 respondents from the public sector of Serbia. By processing the results of the research, it was determined that there are existing differences in attitudes regarding corporate responsibility towards employees in relation to the type of their education and they are determined and analyzed. Defined differences can be the basis for developing different approaches for the employees based on established differences in their attitudes towards corporate responsibility towards employees.By developing different and specially designed approaches for the employees based on established differences in their attitudes about corporate responsibility towards employees, a significant increase can be achieved in employee awareness regarding corporate responsibility and improving efficiency application of corporate responsibility in the company.

Tatjana Savić-Šikoparija, Ljubica Duđak, Tamara Bojanić
Energy Flow Model in Industrial Environment

The rational use of energy and energy sources represents a growing challenge, which aims to preserve the environment. Industrial systems, primarily production systems, are one of the largest energy consumers. The aim of this paper is to propose the energy flow model that can be used in industry. The research on material flow, energy flow and the relationship between them would benefit the construction of a resource savings and to form the environmentally friendly enterprise. The material flow is formed when the material runs along its life cycle trace in an enterprise, while the energy flow is formed when the energy runs along the route of conversion, usage, recovery and emission. The energy flow model of a unit will be presented in this paper, for presented case study, based on which energy flow models of a process or an enterprise are developed. The paper proposes a model for energy consumption prediction based on the real data parameters within the observed industrial organization.

Milena Rajic, Rado Maksimovic, Pedja Milosavljevic, Dragan Pavlovic
Illiquid Markets During the COVID – 19: Blessing or a Curse?

COVID – 19 Pandemic is the game changer. This pandemic changed how we live our lives and conduct our businesses, and there is no industry that was left unaffected by the consequences. Movements on the stock exchanges can be used as indicator for severity of problems to come, and their values should not be disregarded in this time. However, some stock markets react differently to the global events, especially smaller, illiquid markets.This paper will present the influence that COVID – 19 pandemics had on the Belgrade Stock Exchange and it will compare the performance to benchmark stock exchanges with higher liquidity: Deutche Borse and Warsaw stock exchange. The authors want to show that smaller and Illiquid markets are more resistant to global occurences due to their imperfection. In order to examine the movements authors will use geometric mean and monthly growth rates for main indicies on stock exchanges.

Miroslav Ferenčak, Dušan Dobromirov, Mladen Radišić
The Role of Logistics Controlling in Process Performance Measurement in Industrial Systems

The modern way of doing business and increasing internationalization of the markets require an adequate response from companies, in order to survive and achieve competitiveness. The companies are facing a challenge which implies finding the optimal relationship between achieved goals and spent resources. One of the company functions that participates in creating goals and achieving them is logistics. There is a need and a trend of reducing business costs in modern business environment, which simultaneously set new business conditions for the companies dealing with logistics. The aim of this paper is to show it is necessary to define the quality level of required logistics services and criteria for their realization, such as delivery service levels, end to end costs, employee motivation and others, so performance measurement could yield results. Logistics controlling in the company has a role of defining a model for monitoring the success of logistics processes, using well-balanced criteria and defined methodology. The result of the research that will be presented in the paper is a model that will be applicable both in manufacturing and service companies. It will enable logistic controlling to provide efficient support to logistics management in steering the logistics function. In addition, the model of logistics controlling will have a function of actively managing the performance and business results, and that will ensure business is based on predicting and anticipating future events and market occurrences, and at the same time will lead to resource optimization.

Ranko Bojanic, Dalibor Jelicic, Veselin Perovic, Branislav Nerandzic
Identification of Safety Indicators in the Manufacturing Industry in Republic of North Macedonia and Their Impact on the Occupational Injury Lost Time

The Constitution of the Republic of North Macedonia, in particular Article 32, paragraph 1, clearly states that “Everyone has the right to work, free choice of employment, safety at work and material security during temporary unemployment”. The focus in the research is to contribute for reducing the lost working time in the companies in the manufacturing industry, as a result of occupational injuries and to increase the employee productivity and competitive advantage through development of safe working environment. The identification of the safety indicators is based on the analysis of existing scientific and research literary sources, OSH legislation in Republic of North Macedonia and Delphi method. The final result of the research is a developed methodology with structure of 50 identified safety indicators, divided into 14 groups. Each indicator is defined by a weight factor rated by the Delphi expert group based on its impact on reducing the time lost by the occupational injuries. The safety indicators are identified by reaching consensus of 32 occupational safety experts in two Delphi iterations.

Trajce Velkovski, Jasmina Chaloska, Vladimir Mučenski, Bojan Jovanoski, Bojan Jovanovski
Innovativeness of Micro and Small Enterprises – Are Their Innovation Drivers Different?

In the second half of the 20th century the labor cost, along with the level of industrialization, was considered to be the fundamental competitiveness factor. In today’s competitive business environment, innovation is the vital ability and activity for firm’s sustainability. Although the innovation is widely examined in the literature, further research is needed in this field to address the factors which determine the innovativeness of micro and small enterprises. The purpose of this research was to fill in that gap through development and implementation of a methodology for modelling of the innovativeness of micro and small enterprises. The first step is the analysis of the relevant literature and mapping two types of factors that are widely discussed: influencing factors – supporting innovation and influenced factors. The conceptual model that was developed based on these findings is refined through structured interviews of 18 experts from different stakeholders in the innovation ecosystem, and from different regions. The refined model was validated through 150 quantitative interviews with micro and small companies in the Northeast region of North Macedonia. The following factors were validated as most influential in the analyzed region: the openness of the company, the identification of the employees with the company, communication, owner’s profile, educational diversification of employees and encouraging employees to propose innovation. The methodology and the models offer significant input into future research, in the development of analytical tools on macro level, as well as for modelling of innovativeness on company level.

Bojan Jovanovski, Radmil Polenakovik, Ivana Stankovska, Trajce Velkovski, Bojan Jovanoski
Responsible Research and Innovation in Industrial Systems – An Overview and Implications for Companies Who Strive to Work for and with Society

“Responsible research and innovation” (RRI) is an approach that anticipates and assesses potential implications and societal expectations concerning research and innovation, intending to foster the design of inclusive and sustainable research and innovation. Particularly close cooperation between all stakeholders is expected in these aspects: science education, public engagement, access to research results and the application of new knowledge in full compliance with gender and ethics considerations.In the business world where competition is harsh, contracts are often short termed, and productivity is celebrated, there is an open question where does the “society” fit in? In a context that often observes “return on investment” as the main criterion for decision making, societal needs are always challenged to make and keep their place.This paper aims to explore the industrial perspective on RRI principles by presenting an overview in this field, current knowledge and limitations. Especially, the motivation of the industry to think in RRI terms is observed. Finally, conclusions are driven that may allow companies to better understand why and how to include society in their R&D processes.

Petar Vrgović, Branislav Stevanov, Predrag Vidicki
Analysis of the Prediction Quality of Technology Developments Based on Gartner Hype Cycles for Emerging Technologies

Companies spend a lot of money on advice and reports from consultancy companies. Gartner is one of these companies, which publishes regularly the Gartner Hype Cycle for Emerging Technologies. Gartner wants to support companies to recognize when new technologies make promises. How is it possible to “discern the hype from what’s commercially viable? And when will such claims pay off, if at all?” Missing a trend or investing in a non-prevalent trend will have a negative impact on companies. However, how good is the prediction quality of the Gartner Hype Cycle? Therefore, we analyzed the Gartner Hype Cycles of the last 15 years. We analyzed different aspects, e.g. the occurrence of technologies in the hype cycles of different years and the prediction of the phase curve of technologies. We found out that many technologies appear only once in the hype cycle and disappear quickly. We did not analyze these technologies more in detail. We looked only at technologies, which appear at least twice. From these technologies round about one third show ‘inconsistencies’ in the considered aspects.

Benjamin Dorn, Julian Germani, Michael Geywitz, Manuel Remlinger, Felix Schuessler, Juergen Seitz
Characteristics of Organizational Culture that Supports Corporative Social Responsibility

CSR is much more than a one-way and uncreative view of business, for which profit and profit are the only imperatives that drive it and represent the creation of higher values and the principle and use of incorporation into the value of the organization, through vision and mission. Acceptance and application of corporate responsibilities largely determine organizational culture as a combination of values, beliefs and norms of members of organizations. It is quite logical to assume that the culture of an organization uses its “moral obligation” to do “the right things” and obey socially responsibly.Modern organizations must focus on developing an organizational culture that respects the values of ethical behavior in all business interactions. Culture in organizations that serve socially responsible encourages customer loyalty, uses interesting investors, becomes an important partner in the market, attracts and retains employees, in other words, acts catalytically on all processes in the organization and on relevant organizations with market and social communities.This paper discusses the characteristics of Bosis’ organizational cultures in which they have achieved high goals, both in quality business and in continuous support for the further development of society. Through its business, investment, employment and innovation, Bosis contributes to economic growth and strives to reduce negative and increase the positive impact on the environment, to be a responsible and desirable employer that respects employee rights and ensures positive work requirements and strengthens relationships with the community.

Ljubica Duđak, Marija Pantelić, Tatjana Savić-Šikoparija
The Role of Chinese Investments in Central and Eastern Europe within BRI

Belt and Road Initiative has ignited hope in many countries that, through cooperation with China, it is possible to achieve the development of these countries However, the realization of the projects was quite slow, which can be explained by Chinese inadequate decisions, as well as the position of the USA and the EU that, for political and economic reasons did not want China to position itself significantly in Central and Eastern Europe.

Djuradj Grubišić
The Influence of the Project Mature Organization Factors on the Agile Transformation

In the conditions of a dynamic environment and constant market pressures for the implementation of internal and external changes, organizations have a great challenge, how to remain flexible, and at the same time stable and competitive. One of the approaches that enables the harmonization of these contradictions is the concept of creating an agile organization, whose basic values are competence, cooperation with clients, continuous communication, transparency and flexibility. As a relatively new way of thinking, organizational agility enables efficient and effective placement of goods and services, as well as a quick response to competition activities. In this paper, using the Delphi method, the analysis of the influence of factors of project-mature organization, defined on the basis of theoretical assumptions, on agile transformation was performed.

Mirjana Jokanović, Obrad Spaić, Aleksandra Koprivica
Individual and Organizational Knowledge as the Main Levers of Business in the Knowledge Economy

Knowledge has become a key resource in modern business, and we come to it in the learning process. The traditional concept views learning as, to put it simply, the acquisition of existing knowledge and skills. The challenge of the knowledge economy is for employees to learn to continuously create new knowledge and skills, that is, to do different things in different ways, and not the same things in different ways.The problem with knowledge is that it is difficult to quantify and control, and therefore difficult to manage. Part of the knowledge of an organization is possessed by its employees, and the other part is possessed by the organization. It is indisputable that employees participate in organizational knowledge through what they know and do, but the organization also participates in a certain way in shaping the knowledge and abilities of its employees.The paper discusses the strategic relevance and characteristics of individual and organizational learning and knowledge, their interdependence and the challenges faced by organizations in the process of transforming the knowledge of employees into organizational knowledge.

Ljubica Duđak, Leposava Grubić-Nešić, Bojana Jokanović
Optimization of Cutting Parameters for Surface Roughness in the Ball-End Milling Process Using Genetic Algorithm

The aim of this is to demonstrate the possibilities of applying a genetic algorithm to optimize the input parameters of the ball-end milling process when machining hardened steels as a function of the minimum surface roughness. The experimental investigations were carried out using a four-factor experimental design. RSM was used to determine the basic relationship between the input parameters of the process (spindle speed, feed per tooth, axial and radial depth) and the surface roughness. The developed second-order model was used as a reference model for the GA application. The obtained GA model of surface roughness was a function of the goal of the genetic algorithm, which required finding a minimum value of surface roughness Ra. Based on certain optimal values of the input parameters, a confirmation experiment was performed. The measured value of the surface roughness showed a good agreement with the value obtained by GA. The results obtained show the efficiency of the GA application for modeling and optimization of ball-end milling processes.

Milenko Sekulić, Vlastmir Pejić, Marin Gostimirović, Dragan Rodić, Anđelko Aleksić
Process Mining in Public Procurement in Croatia

Generally speaking, public procurement processes present an important topic because the presence of anomalies reveals opportunities for fraudulent activities. Given the amount of money invested in public procurement in the EU, it is crucial to know how it is spent. We describe the current state of the art in terms of public procurement in Croatia, and we employ process mining to analyze public procurement procedures.

K. Rabuzin, N. Modrušan, S. Križanić, R. Kelemen
The Influence of COVID 19 Pandemic on Cogeneration Biogas Plant Operation - Business Impact Analysis

Cogeneration biogas plants are complex systems which have a function of simultaneous production of heat and power (CHP) converting the chemical energy of biogas into electrical and heat energy, using an engine connected to the generator.Managing these systems in normal conditions is very complex, caused by various challenges and problems such the organization of crop rotation, livestock diseases, oscillations of biogas in the substrate, rising prices of raw material, maintenance of the technological process, potential equipment failures and repairs which stop the entire production process.Today, after the outbreak of the COVID 19, the question arises as to, how companies and investors in biogas business could operate within difficult circumstances and events that suddenly appear.This paper explores the impact of COVID 19- biohazard and its consequences on CHP plants operation. Therefore, risk assessment technique - Business impact analysis is important for understanding operational, organizational, financial and legal impacts. The paper analyses criticality of key business processes, functions and resources; how disruptive event (COVID 19) affects business objectives, and what is the capability of a company to recover from an incident caused by biohazard.At the end of the paper, the authors consider recovery strategies for similar future events.

Gorana Milinčić Stančić, Đorđe Ćosić, Ljiljana Popović, Tanja Novaković
Project Management Skillset Challenges in Industry 4.0

Digital transformation in the manufacturing industry, termed Industry 4.0, has become of strategic importance under exponential technological development. Industry 4.0 is redefining production by aiming to build smart factories through cyber-physical collaboration systems. While Industry 4.0 focuses on the technical aspects, the 4th industrial revolution has a focus on the impact that Industry 4.0 has on manufacturing, but also society as a whole. In a highly competitive world, manufacturing organizations need to be agile when implementing projects to respond quickly to ever-changing market demands. Projects will continue to change in terms of scope and growing complexity. In contrast, project management will continue to involve an irreplaceable combination of skills, leadership, and ethical behavior. What changes and adapts are the skills needed to run a project successfully. Project management is still too focused on “hard” technical skills, which are essential, but people are the ones who manage and implement projects, and that must not be forgotten. Technology alone cannot guarantee the success of projects undertaken, and the human factor should not be overlooked because Industry 4.0 is not only based on technology but also on the creativity of people applying technology. With the growth of complex projects and the increasing pace of change, organizations need project managers and teams to deal with digital transformation, disruptions, frequent changes, and ambiguities. This article focuses on project manager skill set challenges in the context of Industry 4.0, highlighting the importance of people for project success.

Danijela Ciric, Marijana Topo, Danijela Gracanin, Angela Fajsi, Miroslav Vujicic
Possible Application of Service-Oriented Architecture in Domain of Land Administration System

Service-oriented architecture refers to a software development paradigm in which individual components of the system are treated as services. This paper aimed to investigate the usage of service-oriented architecture in the land administration system. The possible advantages of this approach would be the ability to handle the system complexity by using multiple smaller components and the ability to use the appropriate programming languages, frameworks, and paradigms for each part of the system. In this paper, it is presented how a system, such as Land Administration System, can be (re)built based on service-oriented architecture, with concrete examples of its parts (layers). The goal of this paper is to represent the way how different systems, interacting with each other, can perform their tasks, such as adding a new parcel, all with the aim of failure-free functioning of these systems, with following analysis of the advantages and disadvantages of this approach. It is concluded that migrating Land Administration System to this type of architecture could provide a better performance of the whole system, since applying service-oriented architecture increases interoperability of land administration system and other systems with which it interacts.

Marko Bojkić, Đorđe Pržulj, Miroslav Stefanović
Evaluation of Impacts on Worker from Fixture Production with Life Cycle Assessment

Life Cycle Assessment (LCA) is standardised and well known method for evaluation of environmental impacts through the products life cycle. In last two decades LCA methodology framework has been used for evaluation of other life cycle aspects such as costs, social, organisational and working environment impacts. Working environment LCA evaluates impacts that occur in the product or process life cycle on worker. Impacts on worker are usually expressed through the impact category such as: fatal accidents, total number of accidents, central nervous system function disorder, hearing damages, cancer, musculoskeletal disorders, airway diseases (allergic and non-allergic), skin diseases, psycho-social diseases, disability-adjusted life years units, and other. This research evaluates the impacts on worker during the production of fixtures. Fixtures are a very important part in production engineering as they are used to secure the workpiece in steady and stable state during the various manufacturing operations. Obtained results confirm the previously research in field of fixture production LCA, that consumption of steel generates dominant impact on environment and worker. Furthermore, results show how the environmental impacts and impacts on worker are mutually related through the fixture production operations.

Boris Agarski, Djordje Vukelic, Milana Ilic Micunovic, Igor Budak
Fake News Detection on Social Networks – a Brief Overview of Methods and Approaches

Fake news spread around the internet has become a significant issue in recent years that attracts a lot of attention from both researchers and the general public. The major problem is that misinformation and propaganda which are proliferating across the digital landscape can greatly shape public opinion on many on-going topics, potentially having a significant political and social impact. Social networks are particularly well-suited for the distribution of made-up content by the usage of specialized software tools and artificial user accounts. Considering this, automatic fake news detection has become a primary goal of researchers in this field, which should help minimize the spread of misinformation by accurately flagging potentially problematic digital material. Yet, many challenges to effective fake news detection remain as there are not many indicators that can reliably distinguish fabricated content from the genuine one. This paper provides an overview of recent efforts in the field and summarizes contemporary approaches to devising classification models for fake news detection.

Igor Kalin, Milan Mirković, Aleksandra Kolak
Multimodal Techniques and Methods in Affective Computing – A Brief Overview

In the domain of affective computing, observation and analysis of facial expressions are predominantly used to detect how people feel at a particular moment. However, recent research has shown that this approach leaves much to be desired, since facial expressions alone do not seem to be directly translatable into different emotions. For example, if people are smiling, it does not necessarily mean that they are happy. Hence, to increase the accuracy of emotion recognition, there is a need to take into account additional signals such as those stemming from human behaviour (e.g. pose estimation), spoken content (voice analysis and natural language processing), environmental context, as well as various physiological signals. Approaches that aim to process information received from multiple sources simultaneously are called multimodal, and this paper provides an overview of current efforts in this area of affective computing. Advantages of distinct approaches are analyzed, and their performance in terms of accuracy is assessed. Discussion summarizes the findings and outlines the most promising future research directions.

Aleksandra Kolak, Milan Mirković, Danilo Nikolić, Igor Kalin
Business Process Management and E-Government Systems

Business Process Management Systems (BPMS) can be applied in the E-government domain to successfully identify, analyze, redesign, and automate an e-government process, without losing the constitutional principles and making them less bureaucratic. The positive outcomes could be numerous, such as public sector performance enhancement, cost reduction, or analysis of the event data that the BPM engine generates. This paper aims to discover how BPMS and E-government systems can be integrated. A systematic literature review is conducted, focusing on the goals for the development of such systems, as well as on the implemented Information and Communication Technologies (ICTs).

Darko Stefanovic, Dusanka Dakic, Aleksandar Ivic
Business Process Management Improvement and a New Model for Performance Management

In business strategy creating, a successful company measures the effectiveness of running business processes, analysing and identifying elements that substantially contribute to creating competitive advantage and ensuring long-term growth and development of the company. In emphasizing the competitive advantage, and thus the growth and development of the company, it is necessary to develop a model of continuous quality improvement that is based on a high degree of customer satisfaction, and continuous measurement and analysis of the business processes performance. Based on analysis of companies in the region it was explored how companies are organized and the extent to manage the performance of their critical business processes. The new method based on the created model is made in LabVIEW software and tested in industrial company where managers assessed the value and importance of defined KPIs in four areas: effectiveness, efficiency, cost reduction and performance during one year. The program calculates results and gives information about KPIs including graphical displaying. The new model gives managers possibility to compare results, measure performance and create business strategies. The results of business process measurement and business analysis serve to better decision-making about possible changes in business and operating model, which affects faster, more efficient, more economical and quality execution of business processes.

Marko Gudelj, Sanja Cvijanović, Marina Zizakov, Zdravko Tešić, Bogdan Kuzmanović
Proceedings on 18th International Conference on Industrial Systems – IS’20
Assoc. Prof. Bojan Lalic
Assist. Prof. Danijela Gracanin
Assist. Prof. Nemanja Tasic
Assoc. Prof. Nenad Simeunović
Copyright Year
Electronic ISBN
Print ISBN

Premium Partner