Innovations financing risks in logistics companies

Author:

Kopylova OlhaORCID,Sorochan ViacheslavORCID

Abstract

Introduction. The field of modern logistics cannot be imagined without innovative technologies, the implementation of which requires financial resources and is constantly associated with a number of risks. The purpose of the article is to analyze the risks of financing innovations and provide recommendations on reducing their impact on the activities of logistics companies. Method (methodology). The work uses general scientific research methods. The method of analysis and synthesis was applied during the study of factors that encourage logistics companies to introduce innovative technologies in their activities, the main ones of which are profit maximization, cost minimization, improvement of competitiveness and quality of goods and services, increase of speed and efficiency of work, adaptation to external challenges. The method of systematization and generalization was used to characterize the terms "Logistics 4.0" and "Smart logistics" and to provide examples of management, organizational and technological innovation solutions that are used within these categories. The methods of observation and comparison were used to analyze the innovations implemented in the activities of domestic and international logistics companies, namely: robots and cobots, automated unmanned shuttles and drones, the Internet of Things, cloud solutions and applications, blockchain, 3D printing, Digital Marketplaces, Digital Twins, augmented reality technologies. Examples of active implementation of innovation are shown on the examples of international and domestic logistics companies. Results. Factors on which the risks of financing innovations in logistics companies depend are given. It is proposed to consider the risks of financing innovations in logistics companies from three positions – from the side of logistics companies, their customers, and potential investors and creditors. It was determined that the main risks during the financing of innovations are the lack of own financial resources of the logistics company, errors in forecasting the demand for the innovative product, shortcomings in risk management, distrust of the innovative product, low qualification of labor resources, insufficient economic efficiency of the investment project, insufficient information and awareness among the participants of financing the innovation process, external factors. Recommendations are provided for minimizing the risks of financial support for innovations in logistics companies, the most significant of which are the diversification of sources of financial resources for innovative solutions; taking into account the economic feasibility of introducing innovations and information about the demand for them in the market; involvement of insurance companies; increasing requirements for personnel qualifications; taking into account the geopolitical and economic situation in the region; conducting regular monitoring of the effectiveness of the use of invested resources.

Publisher

West Ukrainian National University

Subject

General Medicine

Reference17 articles.

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3. Kantar L. (2021) Finance and cost management in the process of logistics 4.0. Logistics 4.0 and Future of Supply Chains. URL: https://www.researchgate.net/profile/Gulum-Burcu-Dalkiran/publication/356219416_The_Effects_of_Industry_40_Components_on_the_Tourism_Sector/links/6410df3566f8522c38a4a0e7/The-Effects-of-Industry-40-Components-on-the-Tourism-Sector.pdf#page=141.

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