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Possibilities Of Evaluation Of The Expenditure Of The Clothing Industry By The Monte Carlo Method

Author

Listed:
  • Teodora Maria SUCIU (AVRAM)

    (“1 Decembrie 1918” University of Alba Iulia, Romania)

Abstract

The analysis of the possibilities by which the expenses can be measured in the clothing industry in Romania, is the starting point of this research. We consider it useful to know the ways of measuring the expenses at the level of companies, in order to obtain a greater profit, by using as little resources as possible. The results of the empirical study are satisfactory, in the sense that through the safety interval of the average of the expenses, it is possible at any time to check the state of the company's performance. Therefore, according to the results of the proposed model, the company that is the subject of the case study should find solutions to reduce the operating and financial expenses existing in 2017.

Suggested Citation

  • Teodora Maria SUCIU (AVRAM), 2020. "Possibilities Of Evaluation Of The Expenditure Of The Clothing Industry By The Monte Carlo Method," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 5(3), pages 29-37.
    • Handle: RePEc:brc:brccej:v:5:y:2020:i:3:p:29-37
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    References listed on IDEAS

    as
    1. Petru BALOGH & Pompiliu GOLEA & Valentin INCEU, 2013. "Profit Forecast Model Using Monte Carlo Simulation in Excel," Romanian Statistical Review, Romanian Statistical Review, vol. 61(12), pages 33-40, January.
    2. Francesca Greselin & Fabio Piacenza & Ričardas Zitikis, 2019. "Practice Oriented and Monte Carlo Based Estimation of the Value-at-Risk for Operational Risk Measurement," Risks, MDPI, vol. 7(2), pages 1-20, May.
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    More about this item

    Keywords

    Monte Carlo method; expenses; probability distribution; random variable; clothing industry; scenario;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L67 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather Goods; Household Goods; Sports Equipment

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