EMPLOYEES’ PERCEPTIONS IN TRANSPORT COMPANIES REGARDING COST MANAGEMENT

The purpose of the research. The aim of the article is to develop a conceptual model of the mechanism of balancing supply and demand for freight transportation services by road and the justification of the influence of external and internal environment. Methodology. In the process of research, the following methods were used: theoretical and empirical research, analysis and synthesis of indicators; statistical and analytical data processing to identify trends in the types of economic activity that use road transport services for transportation. Results. The article proves that for most companies the gap between supply and demand is now a serious problem. Road transport companies are no exception, the supply of transport services by which exceeds the solvent demand aggravates intra-industry competition. It is determined that supply adapts to changing demand and makes it impossible to have a long-term deficit. At the same time, supply forms and stimulates demand for existing goods and services in the market. The definition of the mechanism of balancing the supply and demand for freight transportation services by road transport as a dynamic system containing the following elements: the process of collecting, processing and analyzing information about the demand and supply of freight transportation services, assessment of their balance and the directions and measures to stimulate demand and regulate the supply of freight transportation services has been justified. The factors influencing the development of demand for road transportation in Ukraine were determined. These are growth of production volumes, development of retail and wholesale trade, increase of real incomes of population, reduction of inflation level and consumer prices, corruption, condition and quality of transport infrastructure, safety level of road traffic and cargo transportation, investments in the industry, risks of economic activity, emergency situations, prices for fuels and lubricants. Submitted a quantitative characteristic of domestic enterprises in the international road transport market, as well as the total number of cars in the market of transport services. It highlights trends in the development of economic activities that use road transport services for transportation, including agriculture, forestry and fisheries; extractive industry; processing industry; construction; wholesale and retail trade. The author presents a conceptual model of the mechanism of balancing supply and demand for freight transportation services by road, which identifies the sources of information support for the mechanism operation and directions and measures of balancing supply and demand for freight transportation by road. Practical meaning. According to the results of the study indicated the need to organize the activities of business entities that provide freight transportation services by road transport, based on the concept of marketing. In particular, the choice of the most effective for the entrepreneur-carrier types of transportation and services; analysis of transportation needs in the transportation of goods and the ability of enterprises to meet them; development of rational technologies and systems of goods movement; planning the development of transportation and services. Prospects for further research. On the basis of the study identified the prospects for further development of both scientific and practical component of the organization of cargo transportation services by road, based on the concept of marketing.

Purpose: The aim of the article is to present the scale of the problem caused by the outbreak of the COVID-19 pandemic regarding road freight transport and ensuring continuity and security of the supply chain. It presents statistics on the dynamics of changes in demand for transport services in Poland and the break-up of international supply chains. The results of research concerning the activity of a transport company operating in the food industry and changes in its structure that occurred during the pandemic are presented. Design/Methodology/Approach: The following research methods were used to achieve the aim of the article. The direct interview method was used to collect data on the current situation of the investigated transport company. The analysis of transport orders before the outbreak of the pandemic and since its announcement, comparison and conclusions were drawn. The deduction method was used to assess the impact of the decrease in demand for national and international transport services in specific industries. Statistical methods and methods of mathematical modelling were applied to analyze the research results. The induction method was used to formulate conclusions from the information collected in this area. The method of empirical observation was employed to formulate the main problems resulting from the impact of the COVID-19 pandemic on the activity of transport companies in Poland. Findings: The conducted research was aimed at assessing the impact of the COVID pandemic on the activities of transport companies and ensuring continuity and security of the supply chain. The research has determined the impact of the COVID-19 pandemic on the transport services market, the industries affected, and the appropriate level of security needed. Practical Implications: Transport stakeholders can find out about how to combat the negative impact of a pandemic on the road transport sector and how to increase the security of delivery and the operation of transport companies. Originality/Value: The conducted research enables a comprehensive assessment of the impact of the change in the structure of demand for transport services caused by the COVID-19 pandemic on the activity of transport companies in Poland.

Training of project managers and their development of knowledge competencies and digital competencies is one of main attributes of success performance results in each sector. The use of digital and knowledge technologies can be a prerequisite for effective life-cycle cost management in context of development of digital and knowledge competencies. Life Cycle Cost Management is an important part of cost management and approach in each industry. The construction industry is an important sector of the country's economy. It is the relationship between project managers and their level of use of knowledge and digital competencies that can be key concerning effective cost management in construction. Acquisition of digital and knowledge competencies and skills through the use of digital and knowledge technologies is a process for increasing managerial competencies. This research addresses the relationship and how to acquire knowledge and digital competencies using knowledge and digital technologies in Life Cycle Cost Management. It is the relationship and use of digital technologies, the level of knowledge and digital competences and the level of lifetime costs that is the subject of research. The main goal of the research is to point out the relationship between the acquisition of knowledge and digital competencies and the amount of life cycle cost management in individual phases of the life cycle of a construction project.

: The modern market is a complex system in which various factors such as price, supply, demand and production costs meet and intertwine. Understanding the relationship between these elements is the most important for business efficiency, competitiveness and profitability of the company. The price, as the basic regulatory mechanism in the market, is a monetary expression of the value of goods or services, and its formation is directly related to production costs and market movements. The work is based on modern research and theoretical approaches from the field of economics and management. The subject of research in this paper is the analysis of modern relations between the market, prices and costs, with special emphasis on the influence of market conditions on the formation of prices and cost management in the modern business environment. The objectives of the research are focused on: Examining how prices are determined on the modern market depending on production costs; Analysis of cost accounting methods that companies use to form competitive prices; Understanding the impact of market changes and competition on price and cost adjustments; Identification of modern approaches that enable effective management of prices and costs. The research methodology is based on a combination of qualitative and quantitative approaches: Analysis of professional literature and current research in the field of economics, management and marketing; Use of primary data through case studies of successful companies that apply modern cost accounting methods; Secondary analysis of data from relevant market and financial reports; Comparative analysis of traditional and modern cost accounting systems in the context of their effectiveness and impact on price. The results of the research show that effective management of costs and their precise allocation allows companies to define competitive prices that correspond to market requirements and consumer expectations. Modern calculation systems, such as Activity-Based Costing, significantly improve the accuracy in determining costs and thus directly affect the formation of more realistic and sustainable prices for products and services. Also, in conditions of high market dynamism, flexibility in adjusting prices in relation to costs proves to be crucial for preserving profitability and market position. These studies confirm the importance of an integrated approach to the market, prices and costs as a necessary condition for successful management in the modern business environment.

Cost management practices have remained a vital aspect of project management functions. Despite the efforts of project management, construction projects are still being delivered above budget, with schedule overrun, poor quality and amongst other problems. Poor cost management approaches have been blamed for these problems. Effective cost management improves project performance and the strategic performance of construction organisations. This study aims to assess the role of cost management practice on construction firms' strategic performance in Nigeria. The objectives of the study are to determine the benefits of cost management of the project on the competitive position of construction firms, and the factors influencing cost management strategies of construction firms. This study adopted a well-structured questionnaire administered to construction professionals via electronic means and using snowball sampling technique in the six states of the south-south geopolitical zone of Nigeria. With a response rate of 65.48% and a reliability of index of over 0.70, the gathered data were analysed using frequency, percentage, and relative importance index (RII). It was found that major factors influencing construction cost management are; experience and competence of the project managers, weak management support and control, poor project communications, external economic environment, and lack of use of project management tools (technology). Also, effective cost management was found to play a critical role in the strategic performance of construction organisations; with most benefits being in the areas of waste and expenses reduction, improves operational efficiency need, helps to predict future expenses, ensures procurement effectiveness, and improve profit maximization. Project managers should continuously upgrade their skills for effective cost management to boost the strategic competitive position of their firms.

Transformational processes of socio-economic development create new challenges for entrepreneurship. In the conditions of global competition, constant changes in business conditions and the complexity of the environment, the issue of cost management and optimization of business processes becomes a key aspect of business strategy. More and more businesses are looking for ways to increase cost efficiency while improving product or service quality. The method of this study is a thorough analysis and determination of optimal approaches to cost management aimed at achieving profitability. The research object is cost management processes in the business environment, while the subject of research is methods and tools for optimizing business processes to increase profitability. During the study, the key problems of cost management and optimization of business processes were identified, recommendations were made for increasing the efficiency of cost management and reducing costs, and developing a strategy for optimizing business processes to increase productivity and competitiveness. The conclusions of this study indicate that effective cost management and optimization of business processes are aimed at ensuring the enterprise’s profitability. Therefore, enterprises need to actively use the strategies of cost control, automation, and standardization of business processes. In conclusion, the ongoing transformative processes in socio-economic development have ushered in a new era of challenges for entrepreneurship. In the landscape of fierce global competition, ever-evolving business conditions, and a complex operating environment, effective cost management and the optimization of business processes have become pivotal elements of business strategy. Businesses across various industries are increasingly exploring avenues to enhance cost efficiency while simultaneously elevating the quality of their products or services. Practical implementation of the recommendations will help enterprises to increase profitability and stable growth in the modern business environment. The practical implementation of these recommendations stands to empower enterprises to not only increase profitability but also achieve sustainable growth in the contemporary business environment, thus navigating the intricate challenges of socio-economic transformation and global competition.

The article analyses the current practice of economic regulation of airport activities of the member states of the Eurasian Economic Union (EAEU). The author concludes, that the demand management tools available to the air transport market entities of the EAEU member states are limited. In order to eliminate this limitation, the paper proposes the idea of an integrated information management platform for marketing management in public-private partnership with a shift in focus towards the demand for transport services. The study formulates the main tasks, that such a platform should solve, as follows: 1) managing the flight schedule of airlines and the work of railway and bus operators at the airports of the EAEU member states; 2) the management of a database on the demand for air transport services from tourist operators, as well as enterprises involved in the organization and holding of exhibitions, conferences, cultural events; 3) the management of an integrated system for offering air transport services for cargo and mail delivery. The paper gives recommendations for the formation of a single transport space of the EAEU member states through a digital decision-making system for assessing the economic potential of airports. In the course of the study, the author clarifies the concepts of "natural monopoly" and "competitive market".

In spring 2020 the whole world went through the “black swan”—COVID-19 pandemic. The healthcare systems of all countries and the world economy, in general, became very stressed. The extraordinary decline of activity in all spheres, except healthcare, led to a drop in the demand for transport services, including city public transport. It was important for city management to support the sustainability of the local transport system. The article presents fundamental approaches to assessing the sustainability of a transport service, particularly city passenger public transport (CPPT), for the example of the large Russian city Tyumen (size of population—nearly 807 thousand people). Methods of analysis of the sustainability of the transport process in conditions of negative environmental impact (COVID-19 pandemic) are considered. During the period from 30.03.2020 to 31.05.2020 (nine weeks—the acute phase of COVID-19 pandemic) structural sustainability of the CPPT system in Tyumen kept a high level. By changing the parameters of the planned characteristics of the CPPT system state, an attempt to adapt the transport service supply to a sharp decrease in transport demand was made. In the period of “self-isolation”, the demand for the CPPT transport service reduced more than the transport service supply. Sustainability of CPPT functioning was evaluated by calculating the elasticity of the transport supply (number of trips) in relation to the actual demand (actual volume of transportations). Calculation of the elasticity index of the CPPT system of Tyumen during nine weeks of April–May 2020 (duration of “self-isolation“) is provided. A conclusion was made from the results of the research. In particular, it was found that the foreground target function of city management was the maintenance of a high level of transportation processes to the detriment of the transportations’ effectiveness. Such a policy led to contradictory results—the additional financial expenses at the rate of 135–150 million rubles and quite a high level of contentment of the Tyumen population with the quality of the CPPT work (sociological research established that 80–85% of respondents were satisfied with the quality of the transport service in April–May 2020).

Abstract. Introduction. The main factor in ensuring the competitive advantages of the effective functioning of any enterprise, its stable economic development, is the improvement of the efficiency and optimization of the enterprise's costs. Therefore, in order to achieve a high economic and financial result of activity, enterprises of various industries and spheres of operation need effective cost management. Cost management is aimed at the constant search and identification of resource saving reserves, stimulation of resource conservation and cost reduction in order to obtain the effect of commercial calculation based on the results of the enterprise's activities. Purpose. Research of scientific approaches of various scientists to the definition of the concept of «cost management», determination of cost management functions and systematization of cost management principles at the enterprise. Results. Substantiates the author's position regarding the essence of this concept of «cost management», which should be considered as an integral system of organizational and functional support and a methodological toolkit of influencing the process of spending, which includes managerial actions , the purpose of which is for the enterprise to obtain a high positive financial result of its activity. It was determined, that cost management at the enterprise involves the performance of general functions inherent in the management of any object and specific functions. It is justified, that consideration of the principles of cost management should be carried out through a thorough coverage of their substantive basis with the disclosure of the opportunities that the enterprise receives in cost management, subject to compliance with one or another principle. The main principles of cost management of the enterprise are summarized, which include the following principles: system-complex approach to cost management; intersubject feedback; resource reservation; continuity of cost management for the production and sale of a specific product; economic validity and reliability of information about costs; the adequacy of the results of management actions regarding costs; independence. Conclusions. The author's position on the essence of cost management is outlined in the article, the general and specific functions of cost management are detailed, and the principles of the cost management process at the enterprise are detailed. It is ensuring maximum compliance of the specified principles at the enterprise that enables the effectiveness of cost management, which is part of the general management system of the enterprise and reflects the efficiency of economic activity.

The article considers the current issues of improving the mechanism of enterprise cost management in the conditions of modern economic instability, increased competition and constant changes in legislation, which is especially acutely manifested in Ukrainian realities. It is proven that effective cost management is critically important for ensuring the viability, financial stability and competitiveness of enterprises. Traditional approaches focused only on accounting and control no longer meet market dynamics, which necessitates the need to integrate cost management with other management processes and digital technologies. Scientific approaches to cost management are analyzed, in particular the works of foreign and domestic researchers who emphasize the importance of a strategic approach, the integration of management accounting with financial analysis, as well as the adaptation of models to the characteristics of Ukrainian enterprises. At the same time, it is emphasized that practical tools for strategic cost management based on the analysis of the external environment and digitalization are not yet sufficiently developed. The article proposes a comprehensive cost management methodology that involves a systematic analysis of the cost structure, identification of inefficient items, formation of an optimization strategy, implementation of organizational, technological and motivational changes, as well as constant monitoring and adjustment of actions. Modern cost management tools are described: analytical methods (ABC analysis, functional cost analysis, standard costing), information technologies (ERP systems), organizational approaches (KPI, outsourcing, Lean methods) and financial instruments (budgeting, reserve funds). The cost management mechanism is considered as a flexible, adaptive system that covers planning, accounting, control, motivation and regulation of costs, ensuring transparency, efficiency and effectiveness of management decisions. The proposed approach allows enterprises not only to reduce costs, but also to form long-term competitiveness in a changing external environment.

Effective cost management is a critical determinant of success in project implementation, especially in large-scale infrastructure projects such as road construction, which typically involve significant financial investment, complex logistics, and multiple stakeholders. The ability to plan, estimate, allocate, and control project costs effectively determines whether a project is delivered within its approved budget and timeline. In developing countries like Zambia, Cost Management presents a persistent challenge due to a combination of factors such as limited financial resources, inadequate planning, poor procurement practices, inflation, and weak regulatory oversight. These challenges often result in cost overruns, extended project durations, and compromises in the quality of work delivered. Road construction projects are particularly vulnerable to Cost Management issues due to their scale and susceptibility to unforeseen variables such as weather conditions, land disputes, and fluctuating material and labor costs. Inadequate cost forecasting and ineffective monitoring mechanisms further exacerbate the risk of misallocating funds or incurring unplanned expenditures. This study focused on examining the effectiveness of Cost Management practices in the implementation of road construction projects, using the Chawama Constituency in Lusaka as a case study. The study embraced a cross-sectional survey study design, employing a quantitative methodology for gathering primary data. STATA was used for data entry and data analysis. Descriptive statistics, including frequencies, percentages, and means, was used to summarize data. The study found that budgeting and cost control are the most widely applied with MS Excel dominating as the cost management tool. Major challenges include delayed disbursements, price inflation, design changes, inadequate reporting, weak oversight, and political interference, limited digital tools, and weak institutional accountability, which collectively hinder effective Cost Management. The study finds that CDF-funded road projects in Chawama rely heavily on traditional cost management methods and manual tools, resulting in moderate budget adherence but limited precision and real-time monitoring. Recommendations focus on adopting digital tools, building staff capacity, strengthening institutional oversight, improving procurement, and establishing centralized cost data systems to enhance efficiency, transparency, and proactive financial control.

The article considers the views of scientists on the nature of costs and the process of cost management in restaurants. Comparative analysis of the interpretation of the nature of costs is aimed at reflecting the value of resources used by restaurants to obtain financial results and achieve important goals of the institution. The success of institutions depends on two conditions: the volume and quality of performance of functions and tasks to be solved (production volume, sales, services, etc.); and resource management. Thus, cost management means improving the management process of all aspects of the enterprise. Cost management should be considered as a complex concept that ensures the development of management decisions. The advantages and disadvantages of approaches to cost management of the restaurant business are identified. The components of the cost management process are proposed, which reflect the sequence and connection of the main stages of management decision-making. The practical implementation of the proposed components will allow the management of the institution to build a process of cost management, which will operate effectively in conditions of uncertainty of market relations; to allocate costs in the conditions of limited available resources for the purpose of their effective use; make effective management decisions that will facilitate the rapid adaptation of the existing cost management system to changes in the external environment. Effective cost management plays a crucial role in the process of reproduction, as covering the cost of production allows you to restore and expand the scale of activities. The size of the profit of the restaurant depends directly on its costs, as costs affect the efficiency of production, pricing and competitiveness of products in the market. In addition, the study of costs allows you to decide on the feasibility of the hospitality industry. To form an effective cost management system, increase the volume of economic activity of enterprises, reduce the cost of production, improve its quality and improve the quality of management decisions, the article proposes to develop and implement a program to increase competitiveness. This means an organized set of works aimed at solving the problem of increasing the competitiveness of products and institutions as a whole, the implementation of which is limited in time, as well as related to the consumption of specific financial, logistical and labor resources.

Effective cost management is a vital requisite for successful Low-cost housing projects (LHPs) management and delivery. Whilst several attempts have been made to develop appropriate structured models for cost management practice, many of these models are fragmented failing to capture a holistic representation of the system components or their interrelationships in LHP settings. Moreover, these models are predominantly descriptive by nature – only identifying the components of cost management and not how they can be implemented within LHP settings. This research adopts an explicit sequential mixed research design to develop a bespoke LHP cost management model for process integration and evaluation in Nigeria. This identifies the structures and interrelationships needed to conceptualise and implement cost management practice effectively. Research findings highlight eight important techniques; target costing, approximate estimating, site meetings, earned value analysis, on-site resource control, cash flow analysis, cost reporting and cost aggregation. The importance of a well-developed client brief; detailed project designs and accompanying specifications; effective project planning and supervision; and competent teams (client and contractor) to discharge responsibilities are emphasised. The importance of early contractor involvement was also seen as a core lever for success throughout the pre-design, design, and construction stages of LHP. The resulting model standardises cost management practice to provide a systematic ‘blueprint’ beneficial to project managers, cost managers and project management teams in evaluating and managing CMS processes more effectively in LHP settings. Hence this model can be adopted by Housing agencies as a requirement for cost management practice in LHPs settings.

Abstract. Introduction. The main factor in ensuring the competitive advantages of the effective functioning of any enterprise, its stable economic development, is the improvement of the efficiency and optimization of the enterprise's costs. Therefore, in order to achieve a high economic and financial result of activity, enterprises of various industries and spheres of operation need effective cost management. Cost management is aimed at the constant search and identification of resource saving reserves, stimulation of resource conservation and cost reduction in order to obtain the effect of commercial calculation based on the results of the enterprise's activities. Purpose. Research of scientific approaches of various scientists to the definition of the concept of �cost management�, determination of cost management functions and systematization of cost management principles at the enterprise. Results. Substantiates the author's position regarding the essence of this concept of �cost management�, which should be considered as an integral system of organizational and functional support and a methodological toolkit of influencing the process of spending, which includes managerial actions , the purpose of which is for the enterprise to obtain a high positive financial result of its activity. It was determined, that cost management at the enterprise involves the performance of general functions inherent in the management of any object and specific functions. It is justified, that consideration of the principles of cost management should be carried out through a thorough coverage of their substantive basis with the disclosure of the opportunities that the enterprise receives in cost management, subject to compliance with one or another principle. The main principles of cost management of the enterprise are summarized, which include the following principles: system-complex approach to cost management; intersubject feedback; resource reservation; continuity of cost management for the production and sale of a specific product; economic validity and reliability of information about costs; the adequacy of the results of management actions regarding costs; independence. Conclusions. The author's position on the essence of cost management is outlined in the article, the general and specific functions of cost management are detailed, and the principles of the cost management process at the enterprise are detailed. It is ensuring maximum compliance of the specified principles at the enterprise that enables the effectiveness of cost management, which is part of the general management system of the enterprise and reflects the efficiency of economic activity.

The effective cost management and systematic cost reduction are key factors in ensuring the competitiveness and long-term success of an enterprise. The increased pressure of competition and necessity to reduce costs require the creation of an effective cost management system .thus causing the great interest to the subject from both local and foreign researches.. The aim of the study is the analysis of the problems in creating an integrated system of cost management in industrial enterprises in Ukraine which would allow to quickly and efficiently receive and process the necessary information concerning costs. The article examines practical aspects of organizing the cost management in Ukrainian manufacturing companies. Both major drawbacks and area of potential improvement of accounting and cost management are identified. A model of integrated cost management based on state-of-the art IT systems is proposed. In contrast to then existing ones, the proposed scheme provides through integration of internal and book keeping data concerning kinds, targets and objects of expenditures an integrated approach to cost management. The proposed scheme applies planning, monitoring and cost analysis tools based on modern computerized resource management systems and ensures the faster and more effective decision-making.