베이지안확률변경분석을 통한 에너지효율성 추정: 재고자원효율성이 미치는 효과를 중심으로 = Investigating the Impact of Inventory Resource Efficiency on Energy Efficiency: a Bayesian Stochastic Frontier Approach

다국어 초록 (Multilingual Abstract)

Inventory management is a pivotal management area for manufacturing companies, as effective inventory management catalyzes cost reduction, enhances capital utilization, and augments customer satisfaction. Concurrently, the significance of efficient energy management in manufacturing sectors has been increasingly highlighted. Enhancing energy efficiency not only contributes to cost reductions but also addresses the global challenge of climate change. In this regards, it is imperative to assess the impact of inventory management performance through the lens of energy efficiency.
This study aims to investigate the relationship between the company's inventory management performance and its energy efficiency. To surmount the constraints of previously utilized inventory management performance indicators, this research adopted the inventory resource efficiency metric as proposed by Modi & Mishra (2011). Moreover, energy efficiency was conceptualized based on the energy input distance function, and Bayesian Stochastic Frontier Analysis was employed to estimate this metric. The impact of inventory resource efficiency on energy efficiency was subsequently analyzed. This analysis encompassed 22 major Korean steel companies for the period spanning from 2011 to 2019.
The principal findings of this study are as follows: Firstly, the average energy efficiency of the companies under analysis was found to be 0.8630. Secondly, the negative impact of capital on energy usage was exhibited. Thirdly, a positive effect of inventory resource efficiency on energy efficiency was observed.
These findings underscore that enhancing energy efficiency necessitates the improvement of inventory resource efficiency. Moreover, the introduction of state-of-the art equipment and machinery is likely to further enhance energy efficiency. Additionally, the application of Bayesian Stochastic Frontier Analysis for estimating energy efficiency, coupled with the first-time use of inventory resource efficiency as an indicator of inventory management performance to explore its relationship with energy efficiency, provides significant academic contributions to this field.

참고문헌 (Reference)

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