International Scientific Journals
of Scientific Technical Union of Mechanical Engineering "Industry 4.0"

The set of methods and rules in the process of providing raw materials can be considered a strategy for stock management. Each strategy is associated with specific and expected costs. Still, optimally, we can call that strategy that, under the given conditions, leads to minimal expenses related to the material provision of the studied system. Part of the stock management process is establishing the timing of the deliveries, the necessary volumes and the distribution of the incoming lots to the various warehouses and units. The search for optimal strategies is subject to the theory of optimal stock management. This makes it possible to release significant funds frozen in the form of stocks, which leads to increased efficiency of the material resources used. The optimal inventory management strategy and flexibility also lead to improved production processes and reduced and excluded possible interruptions caused by lack or shortage of materials. The stock management process influences the planning, forecasting, and fulfilment of production needs and orders.
The elements of the business system described so far, in which raw materials, materials and their stocks have a significant impact, show the importance of the stock management strategy of each economic unit. That the chosen and functioning system is optimal is a substantial part of the overall success in any enterprise or other form of business process implementation.

Industry 4.0 is changing the structure and scope of accountants’ qualification profile by imposing new challenging requirements regarding their skills and competences. The paper is inspired by the increasing digitalisation of businesses and the impact of technology innovations and their augmented application on the accounting higher education. The aim of the research is to outline and discuss the challenges for accounting educators due to the required knowledge and skills from graduates in the Industry 4.0 context. A special attention is given to the need for building strong and effective communication and information links with the business partners and  professional bodies. The benefits for universities of becoming part of clusters are also discussed in more details.

The technological and social environment in which we live changes very quickly. Competition grows from time to time, so it is a constant tendency towards product and service providers to achieve a competitive advantage, and thus satisfy the needs of consumers. In order to achieve the above, the organization is often at a crossroads where important decisions are needed, which are most often related to the investment in new equipment or technology. Also, in parallel with the decision to invest in new equipment or technology, a decision is made to retain or upgrade the existing one. In order to make the right decision, often well-known postulates of engineering economies are often used, which include systematic assessment of the economic values of the proposed solutions. In order for economies to be acceptable, solutions must show the existence of a positive relationship between long-term benefits and long-term costs, as well as ensuring the success and survival of companies in the market. In this paper, the economic costeffectiveness of replacing the existing electrolytic welding technology with insoluble electrode in inert gas (TIG), the new FSW welding technology is considered.

Effective deployment of ITS technologies depends in part on the knowledge of which technologies will most effectively address the issues of congestion and safety. Thus, it is important to understand the benefits or risks of both existing and emerging technologies. Based on documented experience locally and throughout the country, ITS deployments in urban areas have the potential to offer the following benefits:

• Arterial management systems can potentially reduce delays with the implementation of advanced control systems and traveler information dissemination.

• Freeway management systems can reduce the occurrence of crashes, increase capacity, and decrease overall travel times.

• Freight management systems reduce costs to motor carriers with the implementation of the commercial vehicle information systems and networks.

• Transit management systems may reduce travel times and increased reliability with automatic vehicle location and transit signal priority implementation.

• Incident management systems potentially reduce incident duration and offer numerous other benefits.

There is a wide range of benefits that can be obtained from ITS deployments. For example, fuel consumption, travel time, and delay can be reduced. ITS deployments can also result in higher travel speeds, improved traffic flow, and more satisfied travelers for all modes.