Radislav Jovovic

Mediteranean University, Podgorica
Montenegro
radejovovic@t-com.me

The concept of sustainable regional development – institutional aspects, policies and prospects

Mimo Draskovic

Maritime Faculty of Kotor, University of Montenegro
Montenegro
rookie@t-com.me

Milica Delibasic

International University of Travnik
Bosnia and Herzegovina
23.mildel@gmail.com

Miroslav Jovovic

International University of Travnik
Bosnia and Herzegovina
miroslav.jovovic@cbcg.me

Abstract. Growing market globalization, increasing global competition, more complex products results in application of new technologies, methods and business processes – due to the abovementioned tendencies novel supply chain strategies (Lean, Agile and Leagile Supply Chains) are established. In this study these supply chain concepts are being described and compared. Virtual enterprise is a temporary alliance of enterprises that come together to share their skills, core competencies, costs and resources in order to better respond to rapidly changing market environment and dynamic customer demands. Economic and social benefits and effects of virtual enterprises for customers and production companies and service providers are also described. Optimization software has been developed for optimal formation of virtual enterprise networks and is also introduced in this study. The aim of this software application is to define virtual enterprise as the optimal combination of supply chain members.

Received: January, 2017

1st Revision: March, 2017

Accepted: March, 2017

DOI: 10.14254/2071-8330.2017/10-1/18

JEL Classification: R58 

Keywords: sustainable development, regional sustainable development, integration