Circulating production assets of the industry enterprise. revolving funds

Working capital of the enterprise- these are objects of labor that participate in one production cycle (or are consumed during the year), lose their natural form, and completely transfer their value to finished products. They serve the entire reproductive cycle, including both the production process and the circulation process. Accordingly, they are divided into circulating production assets and circulation funds.

Revolving funds, in turn, consist of various material elements or current assets(Fig. 2.).

Rice. 2. Composition of working capital

Consider first the elements of circulating production assets. They include:

1. raw materials and basic materials from which the product is made;

2. Auxiliary materials - fuel, containers and packaging materials for packaging, spare parts. They are used for maintenance, care of tools, facilitating the production process, as well as giving the product certain consumer properties;

3. purchased semi-finished products and components. Semi-finished products are not finished products and, together with components, play the same role in the production process as the main materials.

Raw material called products Agriculture and extractive industries, and materials- products of manufacturing industries.

In a special group of circulating production assets, low-value and high-wear items (IBE) are allocated, for example, tools with a short service life. According to their economic content, they are not objects, but means of labor, since they can repeatedly participate in the production process without losing their material and material form. However, they are included in working capital to simplify accounting for their depreciation.

In addition to inventories, the company's working capital assets include funds in production, which include work in progress and deferred expenses. Work in progress represents objects of labor that have not yet passed all stages of processing. These are no longer inventories, but not yet finished products.

In industry and construction, the volume of work in progress can reach significant values, both in absolute and relative terms - much depends on the characteristics technological process. Large, for example, the volume of work in progress in the automotive industry. And in such a large industry as energy, on the contrary, the proportion of work in progress is negligible.

Deferred expenses include expenses incurred by the enterprise in the reporting period, but subject to inclusion in the cost of production in subsequent months or years.

Examples of such expenses are deferred taxes and development costs. However, in most cases this is the cost of preparing future production.

The composition of circulation funds is also heterogeneous. Its main part is finished products in the warehouse of the enterprise and shipped to customers. The receipt of finished products at the warehouse completes the process of its production, and its shipment to customers is the beginning of the circulation process.

Another part of circulation funds - cash and funds in settlements. The funds may be in the company's current account in commercial bank, at the box office, in translations. Accounts receivable include the debt of buyers, accountable persons, tax authorities in case of overpayment of taxes by the enterprise, etc.

Thus, working capital consists of a large number of elements, each of which is important for the implementation of the current, daily activities of the enterprise. That is why they are also called current assets. The peculiarity of current assets is that at any time they must be present in quantities sufficient for the smooth functioning of the production and circulation process. The lack of any of them can lead to negative consequences for the enterprise: stopping production, losing customers, delaying payments, etc. On the other hand, the desire to play it safe, the accumulation of excess stocks of raw materials, materials, finished products means an increase in the amount of working capital and a decrease in the efficiency of using the company's capital. Finding the optimal value of working capital is the most important and at the same time the most difficult task for any enterprise.

test questions:

1. Are there any differences between the concepts of "property" and "assets"?

2. Can the value of the enterprise's capital be greater than the value of its property?

3. Are there any differences between the concepts of "fixed assets" and "main production assets"?

4. Why is it impossible to immediately write off the entire cost of an object of fixed assets to the cost of production?

5. How do the concepts of "fixed assets" and "property" relate to each other?

6. Can non-working equipment be subject to physical and moral wear and tear?

7. Are there any differences between the concepts of "current assets" and "revolving funds"?

8. Indicate the differences between revolving production assets and fixed production assets.

9. Why is part of the means of labor included in the composition of working capital?

10. Can inventories be subject to physical and obsolescence?

The material basis of production is the production assets in the form of means of labor. In the process of functioning, the means of labor and objects of labor transfer their value to the value of the product produced in different ways and to varying degrees.

Turnover production assets in terms of material content are objects of labor and tools of labor, accounted for as low-value and wearing items. These funds serve the sphere of production and completely transfer their value to the cost of finished products, changing their original form in the process of one production cycle.

Although the funds of circulation do not participate directly in the production process, they are necessary to ensure the unity of production and circulation. The nature and scope of their functioning create the prerequisites for separating them into an independent concept - "circulation funds".

Circulating production assets and circulation funds, being in constant motion, provide an uninterrupted circulation of funds. At the same time, there is a constant and regular change in the forms of value: from monetary it turns into commodity, then into production, again into commodity and monetary. The movement of circulating production assets and circulation funds is of the same nature and constitutes a single process. This makes it possible to combine circulating production assets and circulation funds into a single concept - working capital.

Working capital (working capital) - a set of funds advanced for the creation and use of working capital and circulation funds to ensure a continuous process of production and sale of products.

The function of working capital consists in payment and settlement services for the circulation of material assets at the stages of acquisition, production and sale. In this case, the movement of circulating production assets at each moment of time reflects the turnover of material factors of reproduction, and the movement of working capital reflects the turnover of money, payments.

At each particular enterprise, the amount of working capital, their composition and structure depend on the nature and complexity of production, the duration of the production cycle, the cost of raw materials, the conditions for its supply, the accepted procedure for payments, etc. In various industries, the share of working capital in the composition of the production assets of the enterprise unequal. Thus, in heavy industry enterprises it is lower than in light industry.

The organization of working capital in an enterprise includes determining the need for working capital, their composition, structure, sources of formation and their regulation, managing the use of working capital. When determining the authorized capital, the enterprise independently establishes the planned amount of working capital necessary for its production activities, in the form of a standard. Due to own sources, working capital is formed in the amount of constant, not decreasing stocks and costs, due to borrowed funds - with an increased need for working capital.

The efficiency of the use of working capital is characterized by a system of economic indicators, primarily the turnover of working capital.

Under the turnover of working capital is understood the duration of one complete circulation of funds from the moment of the transformation of working capital in cash into inventories and until the release of finished products and its sale. The circulation of funds ends with the transfer of proceeds to the account of the enterprise.

The turnover of working capital is not the same at enterprises of both the same and different sectors of the economy, which depends on the organization of production and marketing of products, the allocation of working capital and other factors.

The turnover of working capital is characterized by a number of interrelated indicators: the duration of one turnover in days, the number of turnovers for a certain period - a year, half a year, a quarter (turnover ratio), the amount of working capital employed at the enterprise per unit of output (load factor).

1. The duration of one turnover of working capital in days (Up to) is calculated by the formula:

Do \u003d (Co * Tdl) / O

where Co - the average annual cost about with;

O - the volume of marketable products;

Tdl is the number of days in the period under review.

Reducing the duration of one turnover indicates an improvement in the use of working capital.

2. The number of turnovers for a certain period or the turnover ratio of working capital (Ko) is calculated by the formula:

The higher the turnover ratio under these conditions, the better the use of working capital.

3. The utilization factor of funds in circulation (Kz), the reciprocal of the turnover ratio, is determined by the formula:

4. The indicator of return on working capital, which is determined by the formula:

where P - profit,

Co - average annual cost of o.s.

5. Accelerating the turnover of working capital of the enterprise allows it to significantly reduce the need for them, since there is an inversely proportional relationship between the speed of turnover and the size of these funds. The amount of working capital released in the process of accelerating their turnover can be calculated using the following formula:

Eos \u003d Of - Oo x Ro,

Where Eos is the amount of working capital savings achieved;

Of - actual turnover for the reporting period, in days;

Oo - turnover in the previous period, in days;

Ro - one-day sales volume for the period under review.

Indicators of the turnover of working capital can be calculated for all working capital involved in the turnover, and for individual elements.

The change in the turnover of funds is revealed by comparing the actual indicators with the planned or indicators of the previous period. As a result of comparing the turnover of working capital, its acceleration or deceleration is revealed.

With the acceleration of the turnover of working capital, material resources and sources of their formation are released from circulation, with a slowdown, additional funds are involved in the turnover.

The release of working capital due to the acceleration of their turnover can be absolute and relative.

Absolute release takes place if the actual balances of working capital are less than the standard or the balances of the previous period while maintaining or exceeding the volume of sales for the period under review.

The relative release of working capital takes place in in cases where the acceleration of their turnover occurs simultaneously with the growth of the production program of the enterprise, and the growth rate of production outpaces the growth rate of working capital balances.

The workshop has 40 machines; annual output - 115500 ed.; operating mode - two-shift; shift duration - 8 hours; number of working days per year - 258; regulated downtime of equipment - 4% of the regime fund of time; the norm of time for processing one product is 1.2 hours. Determine the production capacity of the workshop and the level of its use.

Effective fund of equipment operation time = Number of working days x number of shifts of equipment operation = shift duration x (100-% downtime): 100 = 258 * 2 * 8 * ((100-4) / 100) = 3963 hours

The productivity of one machine per hour \u003d 115500/40/258/2/8 \u003d 0.69 children.

Average annual capacity = productivity of 1 machine x effective fund of equipment operation time x number of machines = 3963 * 0.69 * 40 = 109379 children.

At the beginning of the year, the cost of the OPF amounted to 30 million rubles. In March, the enterprise purchased machine tools for the amount of 6 million rubles, and in June equipment worth 4 million rubles was liquidated. Depreciation rate - 12% per annum. During the year, the company produced products worth 26 million rubles. Determine the average annual cost of OPF; the amount of depreciation deductions for the year; capital productivity.

The average annual cost of fixed assets can be determined using the following formula:

Fsr \u003d Fn.g. + (Finput * N1) / 12 - (Fvyb * N2) / 12

Fn.g. - the cost of fixed assets of the enterprise at the beginning of the year. (rub.)

Find., F sel. - the cost of fixed production assets introduced, retired during the year (rubles)

N1, N2 - the number of full months from the date of entry or withdrawal.

Fsr = 30 + 6 * 9 / 12-4 * 6 / 12 = 32.5 million rubles.

The amount of depreciation deductions for the year is calculated by the formula:

Asr.= Fsr.*On/100

Asr. - the amount of depreciation for the year (rub.)

Na - depreciation rate (%)

Fsr. - average annual cost of fixed production assets (rubles)

Asr. \u003d 32.5 * 0.12 \u003d 3.9 million rubles.

Calculate the value of the production stock of material to ensure the production program of the enterprise in the amount of 4000 products per year and the net weight of a unit of production, if the material utilization factor is 0.88; material deliveries are made once a quarter; annual requirement for material - 360 tons.

Hp \u003d 4000 \u003d 0.09 t \u003d 90 kg; Chv \u003d 90 H 0.88 \u003d 79.2 kg;

Production volume per day:

16 pcs H 90 = 1440 kg;

Ztekh \u003d 1440 H 91 \u003d 131040 kg;

Zstr \u003d 1440 H 3 \u003d 4320 kg;

Zpr \u003d 131040 + 4320 \u003d 135360 kg.

Answer: Zteh = 131040 kg; Zstr \u003d 4320 kg; Zpr \u003d 135360 kg.

Required number of employees = 40000 * 1.1: 1800 = 24 people

Determine the required number of employees for the manufacture of the annual planned volume of production, subject to the production of 1 shift and 2 shifts, provided that the annual fund of effective time when working in 1 shift is 1800 hours, based on the data given in the table:

• 1 shift 1800 * 0.5 = 900 ed per shift
• 25000:900=28 people
• 2 shifts 1800*2=3600*0.5=1800h
• 25000:1800=14 people

Calculate the planned annual production volume when the enterprise operates in 1 and 2 shifts, provided that the annual fund of effective time when working in 1 shift is 1800 hours, based on the data given in the table:

Planned production volume

In 1 shift 1800: 1.5 * 20 = 24000 units.

In 2 shifts 1800*2:1.5*20=48000 units

Option 2

• 3. Franchising
• 1. Product competitiveness. Factors of competitiveness

In a market economy, competitiveness is a decisive factor in the commercial success of a product. This is a multidimensional concept, meaning the compliance of a product with market conditions, specific consumer requirements, not only in terms of its quality, technical, economic, aesthetic characteristics, but also in terms of commercial and other conditions for its implementation (price, delivery time, distribution channels, service, advertising). Moreover, important integral part The competitiveness of a product is the level of consumer costs for the period of its operation.

Due to the multidimensionality of the application of this category in various branches of knowledge in the scientific and technical literature, there are a number of definitions, sometimes contradicting each other.

Thus, the following definition of competitiveness is proposed: "...competitiveness is understood as a complex of consumer and cost (price) characteristics of a product that determine its success in the market, that is, the advantage of this particular product over others in the context of a wide supply of competing analogous products."

Dictionaries give the following interpretations of this word:

• 1) "... the competitiveness of a product is a set of consumer properties of a product that determines its difference from other similar products in terms of the degree and level of satisfaction of the buyer's needs and the costs of its acquisition and operation";
• 2) "... the competitiveness of a product is the ability of a product to be more attractive to the consumer (buyer) in comparison with other products of a similar type and purpose, due to the better compliance of its quality and cost characteristics with the requirements of this market and consumer assessments."

All these definitions have one common drawback, representing competitiveness as a combination, that is, the sum, of all the properties of a product and not taking into account the fact that the consumer is more interested in the ratio: “quality / price of consumption”.

This definition, namely: "...competitiveness means the ability of a given item (potential and / or real) to withstand competition", - more accurately reflects the essence of this category, but does not explain how this ability can arise.

Competitiveness is a higher ratio of the totality of the qualitative characteristics of the product and the cost of its acquisition and consumption, compared with substitute products, if they meet the requirements of the market or its specific segment.

In other words, a product is considered competitive if its total beneficial effect per cost unit is higher than that of the others, and at the same time, the value of none of the criteria is unacceptable to the consumer.

A low quality product may be competitive at an appropriate price, but if it lacks some feature, it will lose its appeal altogether. For example, the lack of a flash in a camera is almost impossible to compensate for by lowering the price.

In addition to the requirements for the product put forward by each individual consumer, there are requirements that are common to all products and must be met. These are normative parameters that are established by: current international (ISO, IEC, etc.) and regional standards; national foreign and domestic standards; current laws, regulations, technical regulations of the exporting country and the importing country that establish requirements for products imported into the country; standards of manufacturers of these products; patent documentation.

For example, electrical appliances must operate at the voltage supplied to the network and comply with the requirements of fire safety and explosion safety, and their design is determined by the conditions of the process being carried out.

If at least one of the requirements is not met, then the product cannot be brought to the market. With a positive result of the analysis of regulatory parameters, they proceed to the analysis of the competitiveness of the product in specific markets.

There are several methods for calculating the competitiveness index.

However, before calculating the quantitative value of the competitiveness indicator, it is necessary to conduct a number of additional studies.

At the first stage, an experimental determination or calculation of all the characteristics of one's own product is carried out, including those that can only be revealed during its operation (energy intensity, the required frequency of lubrication or replacement of parts).

At the second stage, the goals of assessing competitiveness are determined, which depend on the stage of the product life cycle, on the strategy and plans for the development of the company, etc. Before launching a new product on the market, you need to make sure that it is not inferior in its performance to competitors and can attract the attention of buyers. Over time, the competitiveness of a product can either increase or decrease due to changes in consumer preferences, the emergence of new or the departure of old competitors from the market.

At the third stage, marketing methods are used to segment the market and substantiate the target segment. If there are several of them, then the assessment of the competitiveness of the goods must be carried out for each segment separately.

Factors for ensuring the competitiveness of products

The factors of competitiveness of goods include:

Time factor. Ensuring the competitiveness of goods in terms of the time factor is carried out on the basis of the premise "today's ruble is more expensive than tomorrow's".

Product quality factor, which manifests itself not only in improving quality indicators, but also in increasing the annual productivity (beneficial effect) of the product and increasing the cost of operation and repair.

Factor of scale (volume) of production of goods. By increasing the scale of production, it is possible to reduce the cost of production and improve its quality.

Product novelty factor. Ensuring competitiveness is based on the satisfaction of new human needs or the satisfaction of existing needs in a fundamentally different way.

The factor of the method of obtaining information. In the process of production and consumption of products, one should use the same approaches and methods for obtaining information and performing calculations, since otherwise errors of different magnitude will be introduced into the initial information and the samples under study will not be comparable.

The factor of the operating conditions of the goods. Maintaining quality depends on correct operation goods, compliance with the recommendations for the care of the goods. An important factor in consumer preferences is the duration of the service life. Other things being equal, the more competitive product will be the one with the best performance properties.

pricing factor. The price determines the structure of production, has a decisive influence on the movement of material flows, the distribution of the mass of commodities, and the level of well-being. Correctly set price, reasonable pricing tactics, sound pricing strategy are the necessary components of the successful operation of any enterprise.

market factor. The need for a detailed description of market opportunities arises already during the development of the production of new products intended for a particular market. The market factor is characterized by the following criteria: market type, capacity, stability and prospects, market preparedness.

Sales factor. A successful design and manufacturing technology of a new product does not ensure its competitiveness without effective marketing. The sales factor is characterized by advertising, product transportability and delivery reliability.

The transportability of a product is determined by the cost of transportation, which affects the price of consumption and the shelf life of the product. So, if the aesthetic value of the goods is violated during the transportation of products, then the consumption price, sales volume, and, consequently, its competitiveness are reduced.

Reliability of supply means that each product of the required quality and in the right amount must be in a given place at a given time. In case of violation of the terms of delivery, the goods may become morally obsolete and thus be the reason that the consumer may refuse the goods. And this will lead to a decrease in turnover and the competitiveness of goods.

service factor operates at the stage of pre-sales and after-sales service.

Presales factors include:

• - conditions for the acquisition of goods and the form of payment;
• - product demonstration;
• - selection of goods, based on the individual characteristics of the buyer.

After-sales service factors include:

• - packaging and delivery of purchased goods;
• - fitting products according to the figure;
• - chemical cleaning of products, etc.
• 2. Rationing of working capital

Sources of formation of working capital (SBS) are divided into two types

• 1.Own OBS:
  • - working capital (funds of the owners of the enterprise);
  • - profit - the main source;
  • - stable liabilities (funds equated to own):
  • - wage arrears;
  • - debt to the budget;
  • - debt for containers;
  • - prepayment.
• 2. Involved funds:
  • - borrowed (short-term bank loans);
  • - state credit;
  • - other (balances of funds, reserves not used for their intended purpose).

To ensure the uninterrupted production and sale of products, as well as for the effective use of working capital at enterprises, their rationing is carried out. With its help, the total need of the enterprise for working capital is determined.

Consumption rates are considered to be the maximum allowable absolute values ​​of the consumption of raw materials and materials, fuel and electrical energy for the production of a unit of output.

Rationing the consumption of certain types of material resources provides for the observance of certain scientific principles. The main ones should be: progressiveness, technological and economic feasibility, dynamism and ensuring the reduction of standards.

In practice, three methods of normalization of working capital are used:

• 1) analytical- provides for a thorough analysis of cash inventory items with the subsequent extraction of excess ones from them;
• 2) coefficient- consists in clarifying the current standards of own working capital in accordance with changes in production indicators;
• 3) direct counting method- scientifically substantiated calculation of standards for each element of normalized working capital.

When establishing norms and standards for the planned year, it is recommended to use the experimental-statistical and calculation-analytical method.

The rate of working capital -- the value corresponding to the minimum, economically justified volume of stocks. It is usually set in days.

OS standard -- the minimum required amount of funds to ensure the continuity of the enterprise.

OS norm (N a.os) is determined by the formula:

N a.os \u003d Z tech + Z str + Z tran + Z tech + P r,

where W tech is the current stock (the main type of stock, the most significant value in the OS norm); W str - safety stock;

Z tran - transport stock;

W tech - technological reserve;

P p - the time required for acceptance.

The current stock is determined by the formula:

where C p - the cost of delivery;

And -- the interval between deliveries.

Safety stock (the second largest type of stock) is determined by the formula:

The transport stock is defined as the excess of the terms of cargo turnover (the time of delivery of goods from the supplier to the buyer) over the terms of the document flow.

Technological reserve - the time required to prepare materials for production.

The OBS standard is determined by the formula:

N obs \u003d P * N a.os,

where R -- the average daily consumption of working capital;

N a.os - OBS norm.

The OBS standard can also be found by the formula:

where B is the consumption (output) for the OBS element for the period (rubles);

T -- duration of the period (days);

N a.os - the rate of working capital for the element (days).

Working capital ratio in inventories defined:

Z sr.s * N s,

where Z sr.s - average daily consumption in value terms;

N s - stock rate in days.

Rationing of fixed assets in work in progress(N np) is carried out according to the formula:

H np \u003d VP sr.d. * P c * K,

where VP sr.d - the average daily output of products at the production cost;

P c -- the duration of the production cycle;

K - the coefficient of increase in costs, which, with a uniform increase in costs, is determined by the formula:

where F e -- one-time costs;

F n - increasing costs;

C is the cost.

With an uneven increase in costs

K \u003d C cf / P

where C cf -- the average cost of a product in work in progress;

P - the production cost of the product.

Working capital ratio in deferred expenses(Nbp) is determined by the formula:

N b.p. \u003d RBP start + RBP pre - RBP s,

where RBP nach -- the carry-over amount of deferred expenses at the beginning of the planned year;

RBP before - deferred expenses in the coming year, provided for by the estimates;

RBP with -- deferred expenses to be written off to the cost of production of the coming year.

The standard of working capital in the balance of finished products defined:

N g.p \u003d VGP days. * N z.skl. ,

where GWP days. - the cost of one-day production of finished products;

N z.skl - the rate of their stock in the warehouse in days.

The total working capital ratio is the sum of the working capital ratios calculated for individual elements.

3. Franchising

A modern form of organizing production without the need for significant initial costs (start-up capital) is franchising (from the French "franchise" - a benefit, a privilege). Its content lies in the fact that a small independent company (franchisee, or operator) operates on the basis of the rights granted to it by a large company - the franchisor - to develop, manufacture and market products under the franchisor's trademark.

Both the franchisor and the franchisee benefit from franchising relationships. The franchisor expands sales markets by attracting the capital of small firms with less risk for themselves. Compared to self-employed entrepreneurs, the franchisee enjoys such advantages as a ready-made market niche, a set of documentation for the production and marketing of products, access to a powerful advertising network, the ability to buy cheap equipment from the franchisor, and work under its well-known and respected brand.

The disadvantages of franchising are associated with product quality standards set by the franchisor and often conflicting with the specifics of the specific working conditions of the franchisee.

There are three main types of franchising:

commodity, associated with the transfer of means of sale of goods of a large company (for example, dealer networks for the sale of cars);

production, providing for the transfer of rights to manufacture and sell goods using the technologies and raw materials of the franchisor (for example, the network of Coca-Cola, Pepsi-Cola, etc.);

business (full-format), accompanied by the transfer of rights to all elements of the production cycle, from the procurement of raw materials, production technologies, product marketing schemes (for example, the McDonalds restaurant chain).

The workshop has 30 machines; operating mode - two-shift; shift duration - 8 hours; number of working days per year - 255; regulated downtime of equipment - 3% of the regime fund of time; the norm of time for processing one product - 0.6; production capacity utilization factor - 0.82. Determine the production capacity of the shop and the actual volume of output.

Production capacity is understood as the maximum possible annual (daily) output of products with a given nomenclature and assortment, taking into account the best use of all resources available at the enterprise.,

The production capacity of an enterprise is determined, as a rule, per year by the capacity of the main (leading) workshops, sections or units, i.e. those of them that perform the main technological operations for the manufacture of products.

In general, the production capacity (M) of an enterprise (workshop) can be determined by the formula:

Te is the effective fund of the enterprise (workshop) operating time;

t is the complexity of manufacturing a unit of production.

Te \u003d 8 * 2 * 255-3% \u003d 3957.6 h.

M \u003d 3957.6 * 30 / 0.6 \u003d 197880 pcs.

Actual output:

Qf \u003d 197880 * 0.82 \u003d 162261 pieces.

Last year, the company manufactured products worth 980 million rubles, the average annual cost of its OPF is 400 million rubles. This year, products worth 890 million rubles were manufactured, the average annual cost of the OPF is 500 million rubles. determine the change return on assets.

F \u003d Annual output / Average annual cost of fixed assets

Change in return on assets \u003d (890/500) - (980/400) \u003d -0.67

The company sold products in the reporting quarter for 100 million rubles. with an average balance of working capital of 25 million rubles. Determine the acceleration of the turnover of funds (in days) and their release due to changes in the turnover ratio in the planned quarter, if the volume of sales increases by 10% with the same amount of working capital.

Solution

Relative release of working capital:

Votn \u003d (N * (Tob report-Tob plan)) / 360 \u003d 101 * (90-83) / 360 \u003d 1.96 million rubles.

The relative release of working capital occurred by 1.96 million rubles.

Determine the required number of employees for the manufacture of the annual planned output based on the data given in the table, provided that the annual effective time fund of the enterprise is 1800 hours:

H \u003d 24000: 1800 * 2.1 \u003d 28 people

Determine the required number of employees for the manufacture of the annual planned volume of production, subject to the production of 1 shift and 2 shifts, provided that the annual fund of effective time when working in 1 shift is 1800 hours (F), based on the data given in the table:

H \u003d 15000xX / 1800x0.2 \u003d 41 people (1 shift)

H= 30000/ 1800x0.2=83 people (2 shifts)

Calculate the planned annual production volume when the enterprise operates in 1 and 2 shifts, provided that the annual fund of effective time when working in 1 shift is 1800 hours (F) based on the data given in the table:

planned annual production

• 1 shift 1800*28/ 1.83=27541
• 2 shifts 3600*28/1.83=55082

revolving funds- this is a part of production assets (a set of objects of labor), which is fully used during one production cycle, while completely or partially changing its consumer form and transferring its value to the cost of the manufactured product. In business practice, working capital includes, and semi-finished products of their own manufacture,.

To production stocks include stocks of raw materials, basic and auxiliary materials, purchased semi-finished products, fuel, containers, repair parts, low-value and wearing items.

Unfinished production- These are objects of labor that are in industrial processing.

Semi-finished products of own production- this is a part of the objects of labor that have undergone partial processing in a certain division of the enterprise, but need further refinement.

The need of the enterprise for raw materials and other types of material resources is determined by special norms for their costs. These norms of the enterprise are determined independently for specific types of resources. In an extremely general form, the consumption rate is the maximum allowable cost for the manufacture of a certain type of product. The consumption rate consists of two parts: actively used and unused.

Actively used part a certain type of resource is that part of it that goes directly into the finished product (for example, the amount of leather in manufactured shoes). The unused part of the resource is the forced loss of a particular type of resource. For example, in a shoe factory, these losses consist in the fact that work in progress takes into account objects of labor at a certain production stage, and semi-finished products are taken into account only if this stage is completed.

Future expenses represent current cash costs that will be covered in subsequent periods by .
The ratio of different groups of working capital at each stage of the production process is characterized by their production and technological structure, and other working capital.

The required amount of normalized working capital is calculated by several methods. The most commonly used method is direct counting, i.e. determine the standards for each of the elements.

The norm of working capital in industrial stocks is defined as the product of the average daily consumption of a certain type of material and the norm of its stock in days.

The company has several types of stocks. We list the main ones:

• transport (necessary for the enterprise to ensure uninterrupted operation during the transportation of materials);
• preparatory (necessary to ensure the operation of the enterprise during the preparation of incoming materials for their further production consumption);
• current (ensures the operation of the enterprise in the period between two deliveries).

The standard of working capital in work in progress is calculated as the product of the average daily volume of output at production cost, the average duration of the production cycle and the cost escalation factor, which has specific calculation features for each particular enterprise.

The working capital ratio in deferred expenses is calculated as the amount of the balance of funds at the beginning of the year and the amount of expenses planned for the next year, minus the amount of subsequent repayment of expenses.

The standard of working capital in the balance of finished products is determined at each enterprise, taking into account its specifics as required amount products to be kept in stock.

The total standard of working capital of the enterprise is calculated as the sum of the standards for individual elements.

The efficiency of the use of working capital can be measured by several indicators of turnover, for example, as the ratio of the cost of goods sold at current prices for a certain period to the average balance of working capital for the same period.

working capital- this is a set of funds advanced to create working capital and circulation funds, ensuring the continuity economic activity firms.

Composition and classification of working capital

revolving funds are assets enterprises, which, as a result of its economic activities, fully transfer their value to the finished product, take a one-time participation in production process, changing or losing at the same time the natural-substantial form.

Revolving production assets enter production in their natural form and are entirely consumed in the production process. They transfer their value to the created product completely.

circulation funds associated with servicing the process of circulation of goods. They do not participate in the formation of value, but are its carriers. After graduation production cycle, manufacture of finished products and its sale, the cost of working capital is reimbursed as part of proceeds from product sales(works, services). This creates the possibility of a systematic resumption of the production process, which is carried out through the continuous circulation of enterprise funds.

Working capital structure- this is the ratio between the individual elements of working capital, expressed as a percentage. The difference in the structures of working capital of companies is due to many factors, in particular, the characteristics of the organization's activities, the conditions for doing business, supply and marketing, the location of suppliers and consumers, the structure of production costs.

Working capital assets include:

objects of labor (raw materials, basic materials and purchased semi-finished products, auxiliary materials, fuel, containers, spare parts, etc.);

means of labor with a service life of not more than one year or a cost of not more than 100 times (for budgetary organizations - 50 times) the established minimum wage per month (low-value consumable items and tools);

unfinished production and semi-finished products of own production (objects of labor that have entered into manufacturing process: materials, parts, assemblies and products that are in the process of processing or assembly, as well as semi-finished products of their own manufacture, not fully completed by production in some workshops of the enterprise and subject to further processing in other workshops of the same enterprise);

Future expenses(non-material elements of working capital, including the costs of preparing and developing new products that are produced in a given period, but are related to products of a future period; for example, costs for the design and development of technology for new types of products, for rearranging equipment).

circulation funds

circulation funds- funds of the enterprise operating in the sphere of circulation; part of working capital.

The circulation funds include:

enterprise funds invested in stocks of finished products, goods shipped but not paid for;

funds in settlements;

cash on hand and in accounts.

The amount of working capital employed in production is determined mainly by the duration of production cycles for the manufacture of products, the level of development of technology, the perfection of technology and the organization of labor. The amount of circulation funds depends mainly on the conditions for the sale of products and the level of organization of the system of supply and marketing of products.

Working capital is the more movable part assets.

In every the circulation of working capital goes through three stages: monetary, production and commodity.

To ensure an uninterrupted process at the enterprise, inventories working capital or material assets awaiting their further production or personal consumption. Inventories are the least liquid item among items of current assets. The following methods for estimating reserves are used: prime cost each unit of purchased goods; by average cost, in particular, by weighted average cost, moving average; at the cost of the first time purchases; at the cost of the most recent purchases. The unit of accounting for working capital as inventories is a batch, a homogeneous group, an item number.

Depending on the destination, stocks are divided into production and commodity. Depending on the functions of use, stocks can be current, preparatory, insurance or warranty, seasonal and transitional.

Insurance stocks- a reserve of resources intended for the uninterrupted supply of production and consumption in cases of a decrease in supplies compared to those provided.

Current stocks- stocks of raw materials, materials and resources to meet the current needs of the enterprise.

Preparatory stocks- stocks dependent on the production cycle are necessary if the raw materials must undergo any processing.

carryover stocks- part of unused current reserves, which are transferred to the next period.

Working capital is simultaneously at all stages and in all forms of production, which ensures its continuity and uninterrupted operation of the enterprise. Rhythm, coherence and high performance largely depend on optimal size of working capital(circulating production assets and circulation funds). Therefore, the process of normalization of working capital, which relates to the current financial planning at the enterprise, is of great importance. Rationing of working capital is the basis for the rational use of economic assets of the company. It consists in the development of reasonable norms and standards for their consumption, necessary to create a constant minimum stock, and for the smooth operation of the enterprise.

The standard of working capital establishes their minimum estimated amount, which is constantly required by the enterprise for work. Failure to fill the standard of working capital may lead to a reduction in production, non-fulfillment of the production program due to interruptions in production and sales of products.

Normalized working capital- the size of inventories planned by the enterprise, work in progress and the balance of finished products in warehouses. The working capital stock rate is the time (days) during which the fixed assets are in the production stock. It consists of the following reserves: transport, preparatory, current, insurance and technological. Working capital ratio - the minimum amount of working capital, including cash, needed by a company, a firm to create or maintain carry-over inventory and ensure business continuity.

Sources of the formation of working capital can be profit, loans (banking and commercial, i.e. deferred payment), equity (authorized) capital, shares, budget funds, redistributed resources (insurance, vertical management structures), accounts payable, etc.

The efficiency of the use of working capital has an impact on the financial performance of the enterprise. In its analysis, the following indicators are used: the presence of own working capital, the ratio between own and borrowed resources, the solvency of the enterprise, its liquidity, the turnover of working capital, etc. The turnover of working capital is understood as the duration of the successive passage of funds through individual stages of production and circulation.

The following indicators of turnover of working capital are distinguished:

turnover ratio;

duration of one turn;

working capital utilization factor.

Turnover ratio(rate of turnover) characterizes the amount of proceeds from the sale of products on the average cost of working capital. Duration of one turn in days is equal to the quotient of dividing the number of days for the analyzed period (30, 90, 360) to the turnover of working capital. The reciprocal of the turnover rate shows the amount of working capital advanced for 1 rub. proceeds from the sale of products. This ratio characterizes the degree of loading of funds in circulation and is called working capital utilization factor. The lower the value of the load factor of working capital, the more efficient use of working capital.

The main goal of managing the assets of an enterprise, including working capital, is to maximize the return on invested capital while ensuring a stable and sufficient solvency of the enterprise. To ensure sustainable solvency, the enterprise must always have a certain amount of money on the account, actually withdrawn from circulation for current payments. Part of the funds should be placed in the form of highly liquid assets. An important task in terms of managing the working capital of an enterprise is to ensure the optimal balance between solvency and profitability by maintaining the appropriate size and structure of current assets. It is also necessary to maintain the optimal ratio of own and borrowed working capital, since the financial stability and independence of the enterprise, the possibility of obtaining new loans directly depend on this.

Analysis of the turnover of working capital (analysis of the business activity of the organization)

working capital- these are funds advanced by organizations to maintain the continuity of the production and circulation process and returned to organizations as part of the proceeds from the sale of products in the same monetary form with which they began their movement.

To assess the effectiveness of the use of working capital, indicators of turnover of working capital are used. The main ones are the following:

average duration of one turnover in days;

the number (number) of turnovers made by working capital during a certain period of time (year, half year, quarter), otherwise - the turnover ratio;

the amount of employed working capital per 1 ruble of sold products (working capital utilization factor).

If working capital goes through all stages of the cycle, for example, in 50 days, then the first indicator of turnover (average duration of one turnover in days) will be 50 days. This indicator approximately characterizes the average time that passes from the moment of purchase of materials to the moment of sale of products made from these materials. This indicator can be determined by the following formula:

П - average duration of one turnover in days;

SO - the average balance of working capital for the reporting period;

P - sales of products for this period (net of value added tax and excises);

B - the number of days in the reporting period (in a year - 360, in a quarter - 90, in a month - 30).

So, the average duration of one turnover in days is calculated as the ratio of the average balance of working capital to the one-day turnover for the sale of products.

The indicator of the average duration of one turnover in days can be calculated in another way, as the ratio of the number of calendar days in the reporting period to the number of turnovers made by working capital for this period, i.e. according to the formula: P \u003d B / CHO, where CHO is the number of turnovers made by working capital for the reporting period.

The second turnover rate- the number of turnovers made by working capital for the reporting period (turnover ratio) - can also be obtained in two ways:

as the ratio of sales of products minus value added tax and excises to the average balance of working capital, i.e. according to the formula: CHO \u003d P / CO;

as the ratio of the number of days in the reporting period to the average duration of one turnover in days, i.e. according to the formula: CHO \u003d V / P .

The third indicator of turnover (the amount of employed working capital attributable to 1 ruble of sold products, or otherwise, the working capital utilization factor) is determined in one way as the ratio of the average balance of working capital to the turnover for the sale of products for a given period, i.e. according to the formula: CO / R.

This indicator is expressed in kopecks. It gives an idea of ​​how many kopecks of working capital are spent to receive each ruble of proceeds from the sale of products.

The most common is the first indicator of turnover, ie. average duration of one turn in days.

Most often, turnover is calculated per year.

In the analysis, the actual turnover is compared with the turnover for the previous reporting period, and for those types of current assets for which the organization sets standards - also with the planned turnover. As a result of such a comparison, the value of the acceleration or deceleration of turnover is determined.

The initial data for the analysis are presented in the following table:

In the analyzed organization, the turnover slowed down, both for standardized and non-standardized working capital. This indicates a deterioration in the use of working capital.

With a slowdown in the turnover of working capital, an additional attraction (involvement) of them into circulation occurs, and during acceleration, working capital is released from circulation. The amount of working capital released due to the acceleration of turnover or additionally attracted as a result of its slowdown is determined as the product of the number of days by which the turnover accelerated or slowed down by the actual one-day sales turnover.

The economic effect of accelerated turnover is that the organization can produce more products with the same amount of working capital, or produce the same volume of products with a smaller amount of working capital.

The acceleration of the turnover of working capital is achieved by introducing new equipment into production, advanced technological processes, mechanization and automation of production. These activities help to reduce the duration of the production cycle, as well as increase the volume of production and sales.

In addition, to accelerate the turnover, it is important: the rational organization of logistics and marketing of finished products, the observance of the regime of savings in the costs of production and sale of products, the use of forms of non-cash payments for products that contribute to the acceleration of payments, etc.

Directly in the analysis of the current activities of the organization, it is possible to identify the following reserves for accelerating the turnover of working capital, which consist in eliminating:

excess inventories: 608 thousand rubles;

goods shipped, not paid on time by buyers: 56 thousand rubles;

goods in safe custody with buyers: 7 thousand rubles;

immobilization of working capital: 124 thousand rubles.

Total reserves: 795 thousand rubles.

As we have already established, the one-day sales turnover in this organization is 64.1 thousand rubles. So, the organization has the opportunity to accelerate the turnover of working capital by 795: 64.1 = 12.4 days.

To study the causes of changes in the rate of turnover of funds, it is advisable, in addition to the considered indicators of general turnover, to calculate also indicators of private turnover. They refer to certain types of current assets and give an idea of ​​the time spent by working capital at various stages of their circulation. These indicators are calculated in the same way as stocks in days, however, instead of the balance (stock) on a certain date, the average balance of this type of current assets is taken here.

Private turnover shows how many days on average there are working capital in this stage of the cycle. For example, if the private turnover for raw materials and basic materials is 10 days, then this means that from the moment the materials arrive at the organization's warehouse to the moment they are used in production, an average of 10 days pass.

As a result of summing up the private turnover indicators, we will not get the total turnover indicator, since different denominators (turnovers) are taken to determine the private turnover indicators. The relationship between indicators of private and general turnover can be expressed in terms of total turnover. These indicators allow you to establish what impact the turnover of certain types of working capital has on the overall turnover rate. The terms of the total turnover are defined as the ratio of the average balance of this type of working capital (assets) to the one-day turnover for the sale of products. For example, the term of the total turnover for raw materials and basic materials is equal to:

Divide the average balance of raw materials and basic materials by the one-day turnover for the sale of products (excluding value added tax and excises).

If this indicator is, for example, 8 days, then this means that the total turnover due to raw materials and basic materials accounts for 8 days. If we sum up all the terms of the total turnover, then the result will be an indicator of the total turnover of all working capital in days.

In addition to those considered, other turnover indicators are also calculated. So, in analytical practice, the indicator of inventory turnover is used. The number of turnovers made by stocks for a given period is calculated using the following formula:

Revenue from product sales, works and services (excluding value added tax and excises) divided by average value under the item "Reserves" of the second section of the asset balance.

The acceleration of inventory turnover indicates an increase in the efficiency of inventory management, and the slowdown in inventory turnover indicates their accumulation in excessive amounts, ineffective inventory management. Indicators reflecting the turnover of capital, that is, the sources of formation of the organization's property, are also determined. So, for example, the turnover of equity capital is calculated according to the following formula:

The sales turnover for the year (net of value added tax and excises) is divided by the average annual cost of equity.

This formula expresses the effectiveness of the use of equity capital (authorized, additional, reserve capital, etc.). It gives an idea of ​​the number of turnovers made by the organization's own sources of activity per year.

The turnover of invested capital is the turnover on sales of products for the year (net of value added tax and excises) divided by the average annual cost of equity and long-term liabilities.

This indicator characterizes the effectiveness of the use of funds invested in the development of the organization. It reflects the number of turnovers made by all long-term sources during the year.

When analyzing financial condition and the use of working capital, it is necessary to find out from what sources the financial difficulties of the enterprise are compensated. If the assets are covered by sustainable sources of funds, then the financial condition of the organization will be stable not only at this reporting date, but also in the near future. Sustainable sources should be considered own working capital in sufficient amounts, non-reducing balances of carry-over debt to suppliers on accepted settlement documents, the payment deadlines for which have not come, permanently carry-over debt on payments to the budget, a non-reducing part of other accounts payable, unused balances of special purpose funds (accumulation funds and consumption, and social sphere), unused balances of earmarked funds, etc.

If the organization's financial breakthroughs are blocked by unstable sources of funds, it is solvent at the reporting date and may even have free cash in bank accounts, but financial difficulties await it in the short term. Unsustainable sources include working capital sources that are available on the 1st day of the period (balance sheet date), but are not available on dates within this period: non-overdue wage arrears, contributions to off-budget funds (in excess of certain stable values), unsecured debt to banks on loans for inventory items, debts to suppliers on accepted settlement documents, the payment deadlines for which have not come, in excess of the amounts attributed to sustainable sources, as well as debts to suppliers for uninvoiced deliveries, debts on payments to the budget in excess of the amounts attributed to stable sources of funds.

It is necessary to make a final calculation of financial breakthroughs (ie, unjustified spending of funds) and sources of coverage for these breakthroughs.

The analysis ends with a general assessment of the financial condition of the organization and the preparation of an action plan to mobilize reserves to accelerate the turnover of working capital and increase liquidity and strengthen the solvency of the organization. First of all, it is necessary to assess the security of the organization with its own working capital, their safety and use for their intended purpose. Then, an assessment is made of compliance with financial discipline, the solvency and liquidity of the organization, as well as the completeness of the use and security of bank loans and loans from other organizations. Measures are planned for more efficient use of both equity and borrowed capital.

The analyzed organization has a reserve for accelerating the turnover of working capital by 12.4 days (this reserve is noted in this paragraph). To mobilize this reserve, it is necessary to achieve the elimination of the causes that cause the accumulation of excess stocks of raw materials, basic materials, spare parts, other inventories and work in progress.

In addition, it is necessary to ensure the targeted use of working capital, preventing their immobilization. Finally, receiving payments from buyers for goods shipped to them that were not paid for on time, as well as the sale of goods that are in safe custody with buyers due to refusal to pay, will also speed up the turnover of working capital.

All this will help to strengthen the financial condition of the analyzed organization.

Indicators of availability and use of working capital

Working capital - are consumed in one production cycle, are materially included in the product and completely transfer their value to it.

The availability of working capital is calculated both on a certain date and on average for the period.

Indicators of the movement of working capital characterize its change during the year - replenishment and disposal.

Working capital turnover ratio

It is the ratio of the cost of products sold for a given period to the average balance of working capital for the same period:

To turnover= Cost of goods sold for the period / Average working capital balance for the period

The turnover ratio shows how many times the average balance of working capital for the period under review turned around. In terms of economic content, it is equivalent to the rate of return on assets.

Average turnaround time

Determined from the turnover ratio and the analyzed period of time

Average duration of one revolution= Duration of the measurement period for which the indicator is determined / Working capital turnover ratio

Coefficient of fixing working capital

The value is inversely proportional to the turnover ratio:

Go to pinning= 1 / To turnover

Consolidation ratio = average working capital balance for the period / cost of goods sold for the same period

In terms of economic content, it is equivalent to the capital intensity indicator. The fixing coefficient characterizes the average cost of working capital per 1 ruble of the volume of products sold.

Need for working capital

The enterprise's need for working capital is calculated on the basis of the coefficient of fixing working capital and the planned volume of product sales by multiplying these indicators.

Security of production with working capital

It is calculated as the ratio of the actual stock of working capital to the average daily consumption or the average daily need for it.

Accelerating the turnover of working capital helps to improve the efficiency of the enterprise.

A task

According to the data for the reporting year, the average balance of working capital of the enterprise amounted to 800 thousand rubles, and the cost of products sold for the year in the current wholesale prices of the enterprise amounted to 7200 thousand rubles.

Determine the turnover ratio, the average duration of one turnover (in days) and the coefficient of fixing working capital.

Working capital of an enterprise is a cost estimate of working capital assets and circulation funds. Current assets simultaneously function both in the sphere of production and in the sphere of circulation, ensuring the continuity of the production process and sales of products.

Circulating production assets are part of the means of production that are entirely consumed in each production cycle, fully transfer their value to the products produced and are fully reimbursed after each production cycle. They are classified according to the following elements:

• production stocks (raw materials, basic and auxiliary materials, purchased semi-finished products and components, fuel, packaging, spare parts for equipment repair, low-value and wearing items); The category of low-value and wearing items includes: items that serve less than one year and cost at the date of purchase not more than 100 times (for budget institutions- 50 times) established by law Russian Federation the minimum monthly wage per unit; special tools and special fixtures, interchangeable equipment, regardless of their cost; special clothing, special footwear, regardless of their cost and service life, etc.
• work in progress and semi-finished products own production(WIP);
• work in progress is a product that is not finished and is subject to further processing;
• deferred expenses, i.e. expenses for the development of new products, payment for subscription publications, payment of rent for several months in advance, etc. These expenses are written off to the cost of production in future periods;
• circulation funds, i.e. a set of means functioning in the sphere of circulation; (products ready for sale, located in the warehouses of the enterprise; products shipped, but not yet paid for by the buyer; cash in the cash desk of the enterprise and in bank accounts, as well as funds in pending settlements (accounts receivable).

Working capital is constantly making a cycle, during which there are three stages: supply, production and marketing (realization). At the first stage (supply), the enterprise acquires the necessary inventories for cash. At the second stage (production), inventories enter production and, having passed the form of work in progress and semi-finished products, turn into finished products. At the third stage (sales), finished products are sold and working capital takes the form of money.

The structure of working capital is the share of the cost of individual elements of working capital in their total cost.

Sources of formation of working capital

According to the sources of formation, working capital is divided into own and borrowed working capital. Own working capital is the funds fixed in the statutory fund in the part intended for the formation of working capital necessary for the operation of the enterprise. Own working capital can be replenished at the expense of profit, depreciation fund, etc.

In addition, enterprises as a source of working capital formation can use funds equivalent to their own (the so-called sustainable liabilities), which include: constant minimum wage and social security contributions; amounts accrued to employees for holidays; settlements with financial authorities for taxes and fees, etc.

Borrowed funds serve to cover the temporary needs of the enterprise in working capital, are created at the expense of bank loans and accounts payable to suppliers.

Determining the need for working capital

To determine the needs of the enterprise in working capital, the rationing of working capital is carried out. Under the regulation of working capital is understood the process of determining the economically justified needs of the enterprise in working capital, ensuring the normal flow of the production process.

Normalized working capital includes all working capital assets (inventory, work in progress and semi-finished products of own production, deferred expenses) and ready-to-sell products.

Working capital ratios are calculated in physical terms (pieces, tons, meters, etc.), in monetary terms (rubles) and in days of stock. The general norm of working capital of an enterprise is calculated only in monetary terms and is determined by summing up the norms of working capital for individual elements:

FOBShch \u003d FPZ + FNZP + FRBP + FGP,

where FPP is the standard of production stocks, rub.; FNZP - standard of work in progress, rub.; FRBP is the standard for deferred expenses, rubles; FGP - standard stock of finished products in the warehouses of the enterprise, rub.

The general stock rate (NPZi) determines for how many days the company must be provided with working capital for this type of production stock.

Refinery i = NTEKi + NSTRi + NPODPi ,

where NTEKi is the norm of the current stock, days; NSTRi - safety stock rate, days; NPODGi - the norm of the preparatory (technological) reserve, days.

The current stock is necessary to ensure the uninterrupted course of production at the enterprise in the period between successive deliveries. The norm of the current stock is taken, as a rule, equal to half of the average interval between two successive deliveries.

The safety stock is provided to prevent the consequences associated with supply failures. The safety stock rate is set either within 30-50% of the current stock rate, or equal to the maximum time for deviations from the supply interval.

A preparatory (technological) reserve is created in those cases when raw materials and materials entering the enterprise require appropriate additional preparation (drying, sorting, cutting, picking, etc.). The norm of the preparatory stock is determined taking into account the specific conditions of production and includes the time for receiving, unloading, paperwork and preparation for the further use of raw materials, materials and components.

Indicators of the use of working capital

The most important indicators of the use of working capital in the enterprise are the turnover ratio of working capital and the duration of one turnover.

The turnover ratio of working capital, showing how many turnovers were made by working capital for the period under review, is determined by the formula:

COEP = NRP / FOS,

where NRP is the volume of products sold for the period under review in wholesale prices, rubles; FOS - the average balance of all working capital for the period under review, rub.

The duration of one turnover in days, showing how long it takes for the enterprise to return its working capital in the form of proceeds from the sale of products, is determined by the formula:

Tob = n/CEP,

where n is the number of days in the period under consideration.

The acceleration of the turnover of working capital leads to the release of working capital of the enterprise from circulation. On the contrary, a slowdown in turnover leads to an increase in the company's need for working capital. The acceleration of the turnover of working capital can be achieved through the use of the following factors: outstripping growth rate of sales compared to the growth rate of working capital; improvement of the supply and marketing system; reduction of material consumption and energy intensity of products; improving the quality of products and their competitiveness; reduction in the duration of the production cycle, etc.