THE ASSESSMENT OF THE ECONOMIC EFFICIENCY OF PRODUCTION PROCESS—SIMULATION APPROACH

Abstract

The problem of the economic efficiency assessment of the production process is a very complex task. The holistic approaches to the assessment are still very limited in the literature. Both academia and practitioners use many different indicators and indices for economic efficiency analyses. The authors propose a model that allows the assessment of the economic efficiency of the production process in a holistic way. The model consists of four dimensions, as follows: financial perspective, customer’s perspective, internal processes’ perspective and the development’s perspective. The proposed evaluation approach is developed based on the assumption that different perspectives are equivalent in decision-making. In order to validate the model the authors use a simulation in iGrafx Process 2011. The authors present the numerical examples for model validation, using different variants of a real production process.