Enterprise infrastructure
The economy of any country is represented by a set of economic relations between the subjects of the system. In general, the subjects of market relations are the state, enterprises and population of the country. The role of the enterprise is very important. It acts as a link between the state and households. On the one hand, commercial organizations, through their activities, ensure the satisfaction of social needs for a certain economic benefit. On the other hand, operating in the market, the enterprise receives profit, which is subject to taxation and forms a large share of the country's budget.
The enterprise itself represents an economic system formed by the structural elements of an economic entity and the relationships between these components of the system.
Definition 1
The structure of an enterprise is the basis for the functioning of an economic entity, which includes services and areas, workshops and departments, as well as defining the relationships between them.
The structures of enterprises are divided into general, production and organizational.
General displays all areas of the enterprise. This includes employees, throughput and space used for all types of activities of a given commercial organization.
The production structure describes the enterprise systems directly involved in the process of creating, marketing and selling products.
Non-production elements are represented by departments and divisions that do not participate in the main production. These include canteens, medical offices, health facilities, and so on.
The organizational structure is formed by departments engaged in management and analytical activities.
Note 1
It is important to note a special type of structural element of the enterprise. This is infrastructure. It is usually represented by a set of means that allows one to increase the efficiency of the functioning of an economic entity.
Infrastructure includes:
- The production component, formed by auxiliary activities to provide production with the necessary resources;
- The non-production component, which deals with the organization of safe work and stimulation of workers, that is, influencing the social policy of the enterprise.
The structure of the enterprise is not static and is subject to change. They usually depend on the goals and objectives facing management. Technological changes in the course of scientific and technical research are introduced into the work of workshops to create new products, or to reduce costs while improving the quality of manufactured goods. It is currently customary to distribute tasks that are not included in the main production processes to outsourcing companies.
Any production activity is supported by certain capital investments. The feasibility of these investments is ultimately reflected in the total income of the enterprise.
Fixed capital or fixed assets of an enterprise
To produce its products, the enterprise uses labor tools. According to the degree of attribution of the value of these funds to finished products, they are usually divided into fixed and working capital.
Definition 2
Fixed capital or fixed assets is a part of capital investments that is repeatedly involved in the production of products of an economic entity.
Such an object transfers its cost to finished products in parts and over a certain period of time.
Definition 3
Fixed assets are price data about fixed assets.
It is important to note that such funds include objects whose service life exceeds one year, and the cost exceeds fifty minimum wages. Fixed assets can be classified according to the following criteria:
- industry;
- territorial;
- by type of property;
- based on the principle of participation in production;
- by ownership (own or rented).
To correctly account for capital investments, the state system is used - the all-Russian classifier. He divides fixed assets into groups depending on the time of their use and the amount of depreciation charges.
Note 2
During production, fixed assets gradually wear out, losing their original properties. This process is called physical wear.
As a rule, the calculation takes the uniform wear and tear of objects over a period of time, which does not always reflect the real reasons for obsolescence. Therefore, in addition to physical wear and tear, obsolescence of fixed assets is also taken into account. It takes into account depreciation. To correctly display data on obsolescence, enterprises regularly revaluate fixed assets.
Enterprises keep records of the depreciation of fixed capital by entering data on fixed assets into the financial statements of the business entity.
Since fixed assets are used in production many times, their cost is attributed to finished products in parts. For this, depreciation charges are used. That is, part of the cost of funds is included in the cost and production costs.
Working capital and working capital of the enterprise
Unlike fixed assets, working capital are assets invested in the production process, the use of which occurs only in one cycle. That is, for one production cycle they are fully included in the cost of the finished product.
Working capital is determined not only by its size and structure, but also by the degree of liquidity. For example, the most liquid asset of an enterprise is financial assets, followed by finished goods, and then inventories.
Working capital is usually represented by standardized and non-standardized assets.
The share of working capital is usually determined for a future period during financial planning. Depending on the rationality of the plan drawn up, the financial position of the enterprise will be formed in future periods, the success of which directly depends on the speed of asset turnover.
The duration of one turnover cycle is calculated using the formula:
T = (D $\cdot$ H)/V
where $T$ is the turnover time in days, D is the duration of the period, $H$ is the rate of working capital, $V$ is the volume of production.
If the turnover rate increases, it means the funds were invested effectively. This calculation can be applied both for the entire volume of working capital and for its components.
Means of labor (machines, equipment, buildings, vehicles) together with objects of labor (raw materials, materials, semi-finished products, fuel) form the means of production. The means of production expressed in monetary form are the production assets of enterprises. There are fixed and working capital.
Fixed production assets are means of labor that participate in the production process for a long time and at the same time retain their natural form. Their cost is transferred to finished products in parts, as consumer value is lost.
Working capital is those means of production that are entirely consumed in each new production cycle, completely transfer their value to the finished product and do not retain their natural form during the production process.
Along with production there are non-productive fixed assets - social property. These are residential buildings, children's and sports institutions, canteens, recreation centers and other cultural and social services for workers, which are on the balance sheet of enterprises and do not have a direct impact on the production process.
Revolving funds- This is a mandatory element of the production process, the main part of the cost of production. The lower the consumption of raw materials, materials, fuel and energy per unit of production, the more economically the labor spent on their extraction and production is spent, the cheaper the product. The presence of sufficient working capital at the enterprise is a necessary prerequisite for its normal functioning in a market economy.
The material elements of working capital undergo changes in their natural form and physical and chemical properties during the labor process. They lose their use value as they are consumed industrially. New use value arises in the form of products made from them; these also include those means of labor whose service life is less than one year.
Working production assets consist of three parts:
- production inventories;
- work in progress and semi-finished products of own production;
- expenses of future periods.
Productive reserves - these are objects of labor prepared for launch into the production process; They consist of raw materials, basic and auxiliary materials, fuel, purchased semi-finished products and components, containers and packaging materials, spare parts for the repair of fixed assets.
Work in progress, and semi-finished products of our own productioncooking- these are objects of labor that have entered the production process: materials, parts, units and products that are in the process of processing or assembly, as well as semi-finished products of our own production, 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- these are intangible elements of working capital, including costs for the preparation and development of new products that are produced in a given period (quarter, year), but relate to products of a future period (for example, costs for the design and development of technology for new types of products, for rearranging equipment and etc.)
The relationship between individual groups, elements of working capital and their total volumes, expressed in shares or percentages, is called the structure of working capital. It is formed under the influence of a number of factors: the nature and form of organization of production, type of production, duration of the technological cycle, conditions of supply of fuel and raw materials, etc.
Working capital assets in their movement are also connected with circulation funds, serving the sphere of circulation. Circulation funds include finished products in warehouses, goods in transit, cash and funds in settlements with consumers of products, in particular accounts receivable.
What is common in the structure of working capital of various enterprises and organizations is the predominance of funds allocated in the sphere of production. They account for more than 70% of all working capital.
1. COMPOSITION AND STRUCTURE
Working capital- this is a set of circulating production assets and circulation funds in monetary terms. These components of working capital serve the reproduction process in different ways: the first - in the sphere of production, and the second - in the sphere of circulation.
The conditions of production and sale of products require that the warehouses of a manufacturing enterprise constantly contain stocks of material assets consumed in the production process, as well as finished products. In addition, to ensure uninterrupted operation, it is necessary that the workshops have certain backlogs of unfinished products. And finally, the enterprise must have certain funds on hand, in bank accounts, and in settlements.
The assets of an enterprise, which, as a result of its economic activities, completely transfer their value to the finished product, take a one-time part in the production process, changing or losing their physical form, are called working capital.
Working capital represents the most mobile part of assets. In each circulation, working capital passes through three stages: monetary, production and commodity.
At the first stage funds of enterprises are used to purchase raw materials, supplies, fuel, packaging, purchased semi-finished products, components, etc., necessary for carrying out production activities. At the second stage Inventories are converted into work in progress and finished goods. At the third stage The process of selling products and receiving funds takes place. Working capital, according to the composition and nature of the site in the production process, is divided into two components: circulating production assets and circulation funds.
Working production assets serve the production sector. They form the material basis of production and are necessary to ensure the process of production and the formation of value. The second part of working capital includes circulation funds, consisting of finished products and cash assets of the enterprise. Circulation funds do not participate in the formation of value, but are carriers of already created value. Their main purpose is to ensure the rhythm of the circulation process with money.
The unification of working capital and circulation funds into a single system of working capital follows from the continuity of the advanced value across the three named stages of their circulation.
Let's consider individual elements of working production assets. The overwhelming majority of working capital assets are inventories. Productive reserves— these are stocks of raw materials and materials, semi-finished products and components, fuel, containers, household equipment, spare parts for repairs, tools.
Raw materials and basic materials- these are objects of labor that form the material (material) basis of the manufactured product. Raw materials are products of agriculture (grain, wool, cotton, fruits, vegetables) and mining industry (oil, ore, gas, etc.). The main materials are considered to be manufactured products (flour, sugar, fabric, metal, leather, etc.).
Semi-finished products- these are objects of labor, the production of which is completely completed in one workshop, but which are subject to further processing in other workshops of the same enterprise or can be sold.
Auxiliary materials, unlike raw materials and purchased semi-finished products, do not form the main content of the manufactured product, but only facilitate the implementation of the technological process and the formation of the product.
Along with production inventories, working capital assets include assets in production, including unfinished products and deferred expenses. Work in progress (WIP)- these are objects of labor that have entered the production process, but have not undergone all processing operations provided for by the technological process.
The only intangible element of working production assets is future expenses necessary to create reserves, install new equipment, etc. Deferred expenses include costs for the preparation and development of new types of products, new technology, produced in a given period, but subject to repayment in the future.
The ratio of individual components of working capital to their total value characterizes the structure of working capital. This is the ratio between individual elements of working capital (raw materials, basic materials, fuel, packaging, spare parts, finished products, etc.), expressed as a percentage of the total.
Based on the sources of formation and replenishment, working capital is divided into own and equivalent funds and borrowed funds.
Own working capital is the working capital allocated by the participants (founders) for the uninterrupted functioning of their enterprise. The main sources of formation of own working capital are profit, intra-economic financial resources and their redistribution.
Funds that do not belong to the enterprise, but according to the terms of settlements are constantly in its circulation, are considered equivalent to own working capital. These are the so-called stable liabilities. These include minimum wage arrears, payroll accruals, reserves to cover future payments, accounts payable and other stable liabilities.
Sustainable salary liabilities UPZP is calculated using the formula:
UPzp = ZPkv × PD / 90,
where ZPkv is the wage fund of the fourth quarter of the planned year, taken as the basis when calculating the standard of own working capital, rubles;
Pd - gap between accrual and payment of wages, days.
Amount of minimum wage arrears Salary is determined by the following formula:
Zzp = Zpl × Pd / 90,
where ZPpl is the planned wage fund for the corresponding quarter, rub.;
PD - the number of days from the beginning of the month until the day of payment of wages.
Borrowed assets are working capital received from financial organizations in the prescribed manner in the form of loans and credits.
2. RATING OF WORKING CAPITAL
Rationing of working capital is the basis for the rational use of an enterprise's economic assets. It consists in developing reasonable norms and standards for their consumption, necessary to create constant minimum reserves for the uninterrupted operation of the enterprise.
According to the degree of planning, working capital is divided into standardized and non-standardized.
TO standardized include working capital in inventories.
TO non-standardized Working capital includes: cash, shipped goods and completed work, all types of accounts receivable, etc.
In practice, three main methods of rationing working capital are used: analytical, coefficient and direct counting method.
The analytical method uses actual data on the amount of working capital for a certain period. At the same time, excess and unnecessary inventories are clarified, and adjustments are made to account for changes in production and supply conditions. The updated result of these calculations is considered the working capital standard for the planned period. This method is used in cases where significant changes in the operating conditions of the enterprise are not expected and funds invested in material assets and inventories have a large share.
The coefficient method is that the standards for the planning period are calculated by making amendments (using coefficients) to the standards of the previous period. The coefficients take into account changes in production volumes, working capital turnover, assortment shifts and other factors.
The direct counting method consists in calculating the amounts of working capital for each specific type of inventory, then adding them up, and as a result, determining the standard for each element of standardized working capital. The general standard represents the sum of the standards for all elements. This method is the most accurate, reasonable, but at the same time quite labor-intensive.
When rationing working capital, it is necessary to establish stock standards for individual types of regulated materials, determine standards for each element of working capital, and calculate the total standard for regulated working capital.
Working capital standards characterize the minimum reserves of inventory, calculated in days of supply or as a percentage of a certain base (commodity products, volume of fixed assets). As a rule, they are established for a certain period of time (quarter, year), but can be valid for a longer period. Standards are established for production inventories, work in progress, and finished product inventories in the enterprise warehouse.
Let's consider the calculation of the norms of inventories, work in progress and finished goods.
Norm in days for production inventories(raw materials, materials, purchased semi-finished products) consists of time:
unloading, receiving, warehouse processing and laboratory analysis (preparatory stock);
the presence of materials in the warehouse for the current production process (current stock) and insurance or guarantee stock (safety stock);
preparation of materials for production (technological stock);
stay of materials in transit (transport stock).
The largest share in the general working capital norm for a group of materials is occupied by the current stock norm.
Current stock— a constant supply of materials, fully prepared for launch into production and intended for the uninterrupted operation of the enterprise. Its value depends on the average daily consumption of materials, the interval between next deliveries, the size of supply batches and production launch batches. For many materials, the interval between successive deliveries is taken in half or calculated using the arithmetic mean method.
Maximum current stock valueЗmax is determined by the formula:
Зmax = Аn × Т,
T is the time between two next deliveries, days.
In this case, the average daily consumption is established by dividing the total need for this material in the planning period (year, quarter, month) by the number of calendar days for the same period, if the enterprise operates continuously, or by the number of working days, if it does not work on holidays and weekends.
Average current stock(it is often called transition reserve) Zsr is determined by the formula:
Zsr = Zmax / 2.
Next in importance is the safety stock, which is created in case of possible supply disruptions, delays in transit, receipt of low-quality materials, etc. The size of the safety stock is usually set as a percentage of the working capital norms for the current stock (from 30 to 50%).
Insurance or warranty stock Zs can also be determined by the formula:
Zs = Adn × Pm,
where Adn is the norm of safety stock of materials, days;
PM - average daily demand for this type of materials, rub.
On average, the transport stock formed in the event of a discrepancy in the timing of document flow and payment for them and the time the materials are in transit is of the same duration.
At enterprises, the so-called technological reserve (Ztech) is also formed, which is necessary for preparation for production. The amount of such reserve is determined by the formula:
Ztech = Ap × Tc,
where An is the average daily need for this material, natural units of measurement;
Tc — duration of the technological cycle, days.
General inventory rate The total for raw materials, basic materials, purchased semi-finished products is determined by the formula:
Ztot = Ztek + Zs + Ztr + Ztech.
The standard requirement of working capital for spare parts for routine maintenance and repair of equipment is calculated as the product of the stock norm in rubles, established in relation to a certain indicator, by the total planned value of the latter.
For example, the standard stock of spare parts for equipment maintenance and repair is set in rubles. for 1 thousand rubles. book value of equipment.
Typical working capital rate for spare parts The atyp is determined by the formula:
Atyp = Atotal / Sob,
where Atotal is the total need for working capital for spare parts, rub.;
Sob - the cost of equipment and vehicles at the end of the planned year.
Inventory norm for work in progress The production cost is established based on the duration of the production cycle and the degree of product readiness, which is expressed through the cost increase coefficient. The norm is defined as follows:
Nnz = Tc × Knz,
where Tc is the duration of the production cycle, days;
Knzp - cost increase coefficient.
The coefficient of increase in costs in work in progress characterizes the level of product readiness and is due to the fact that costs in work in progress are carried out at different times and increase gradually throughout the entire cycle. The cost increase coefficient is always greater than 0 and less than 1.
The stock norm for finished products depends on the time of processing payment documents, packaging and labeling, storage in the warehouse before shipment, assembling of products to the transit norm, the duration of transportation of products from the enterprise warehouse to the departure station and loading into vehicles.
After establishing inventory standards, the working capital standard in monetary terms is determined for individual elements of working capital and for the enterprise as a whole.
Working capital ratio- the minimum amount of funds required by the enterprise to organize production activities.
Mostly standard for individual elements of working capital Sni is found by the formula:
Sni = H3i × Ai,
where H3i is the stock rate of the i-th element, days;
Ai is the indicator in relation to which the norm is established.
Let's look at the calculation of working capital standards using examples.
Inventory standard(raw materials, materials, purchased semi-finished products, etc.) is determined by multiplying the norm in days by their daily consumption.
Sni = H3i × M / Tk,
where M is the consumption of raw materials and materials for a calendar period of time, rub.;
Tk - calendar period, days (year - 360 days; quarter - 90 days, month - 30 days).
Work in progress standard Anzp is calculated by multiplying the stock rate in work in progress by the average daily output of products valued at production costs.
Anzp = Psut × Nnzp,
where Psut is the average daily output at production cost, rub.;
Nnsp - stock norm in work in progress, days.
Working capital standard for finished products ZGP at the enterprise warehouse is determined by the formula:
ZGP = Psut × Nzg,
where Psut is one-day output of finished products at production cost;
Nzg - standard stock of finished products, days.
Calculation of the working capital standard for future expenses Ab.p is determined by the formula:
Ab.p. = Zn + Zpl - Zpog,
where Zn is future expenses at the beginning of the planning period;
Salary - expenses of the planned period for these purposes;
Zpog - costs in the planning period that are subject to write-off to the cost of production.
The process of standardization ends with the establishment of a total working capital standard by adding up private standards for inventories, work in progress, deferred expenses and finished products.
The average rate of working capital for the enterprise as a whole is calculated by dividing the total standard by the one-day output of marketable products at production cost.
Thus, rationing of working capital is a necessary condition for determining the minimum sufficient amount of funds to ensure the effective operation of the enterprise as a whole.
A.S. Palamarchuk, Doctor of Economics. sciences, prof. REA named after. G.V. Plekhanov
The material basis of production is production assets in the form of means of labor. In the process of functioning, means of labor and objects of labor transfer their value to the cost of the product produced in different ways and to varying degrees.
Working capital assets in terms of material content are objects of labor and tools that are taken into account as part of low-value and wearable items. These funds serve the production sector and completely transfer their value to the cost of the finished product, changing the original form during one production cycle.
Funds of circulation, although not directly involved in the production process, 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”.
Working production assets and circulation funds, being in constant motion, ensure an uninterrupted circulation of funds. At the same time, there is a constant and natural change in the forms of value: from monetary value to commodity value, then to production value, and again to commodity value and monetary value. 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 current production assets and circulation funds into a single concept - working capital.
Working capital (working capital) is the totality of funds advanced for the creation and use of circulating production assets and circulation funds to ensure the continuous process of production and sales of products.
The function of working capital is to provide payment and settlement services for the circulation of material assets at the stages of acquisition, production and sales. In this case, the movement of working capital assets at each point in time reflects the turnover of material factors of reproduction, and the movement of working capital reflects the turnover of money and payments.
At each specific 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 terms of their delivery, the accepted payment procedure, etc. In various industries, the share of working capital in the production assets of the enterprise not the same. Thus, in heavy industry enterprises it is lower than in light industry.
The organization of working capital at 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 required for its production activities in the form of a standard. At the expense of own sources, working capital is formed in the amount of constant, non-decreasing inventories and costs, at the expense of borrowed funds - with an increased need for working capital.
The efficiency of using working capital is characterized by a system of economic indicators, primarily the turnover of working capital.
Working capital turnover refers to the duration of one complete circulation of funds from the moment working capital is converted in cash into inventory until the release of finished products and their sale. The circulation of funds is completed by crediting the proceeds to the enterprise account.
The turnover of working capital is not the same at enterprises of both one and different sectors of the economy, which depends on the organization of production and sales of products, the placement of working capital and other factors.
Working capital turnover 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, quarter (turnover ratio), the amount of working capital employed at the enterprise per unit of production (load factor).
1. The duration of one turnover of working capital in days (To) is calculated by the formula:
To= (Co*Tdl)/O
where Co is the average annual cost o c;
O - volume of commercial products;
Tdl - the number of days in the period under review.
A decrease in the duration of one revolution indicates an improvement in the use of working capital.
2. The number of turnovers for a certain period or the working capital turnover ratio (To) is calculated using the formula:
The higher the turnover ratio under these conditions, the better the use of working capital.
3. The load factor of funds in circulation (Kz), the inverse of the turnover ratio, is determined by the formula:
4. The return on working capital indicator, which is determined by the formula:
where P is profit,
Co - average annual cost of o.s.
5. Accelerating the turnover of working capital of an 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 = Of - Oo x Ro,
Where Eos is the achieved amount of working capital savings;
Of - actual turnover for the reporting period, in days;
Оо - turnover in the previous period, in days;
Ro - one-day sales volume for the period under review.
Working capital turnover indicators can be calculated for all working capital involved in turnover and for individual elements.
Changes in the turnover of funds are identified by comparing actual indicators with planned or indicators of the previous period. As a result of comparison of working capital turnover indicators, its acceleration or deceleration is revealed.
When the turnover of working capital accelerates, material resources and sources of their formation are released from circulation; when it slows down, additional funds are drawn into circulation.
The release of working capital due to the acceleration of their turnover can be absolute and relative.
An absolute release occurs if the actual balances of working capital are less than the standard or balances of the previous period while maintaining or exceeding the sales volume for the period under review.
The relative release of working capital takes place in in those cases when the acceleration of their turnover occurs simultaneously with the growth of the enterprise’s production program, and the growth rate of production volume outstrips the growth rate of working capital balances.
There are 40 machines in the workshop; annual production - 115,500 units; operating mode - two shifts; shift duration - 8 hours; number of working days per year - 258; regulated equipment downtime - 4% of the operating time fund; The standard time for processing one product is 1.2 hours. Determine the production capacity of the workshop and the level of its use.
Effective equipment operating time fund = Number of working days x number of equipment shifts = shift duration x (100% downtime): 100 = 258*2*8*((100-4)/100) = 3963 hours
Productivity of one machine per hour = 115500/40/258/2/8 = 0.69 pieces.
Average annual capacity = productivity of 1 machine x effective operating time of equipment x number of machines = 3963 * 0.69 * 40 = 109,379 children.
At the beginning of the year, the cost of OPF was 30 million rubles. In March, the company purchased machines worth 6 million rubles, and in June equipment worth 4 million rubles was liquidated. The depreciation rate is 12% per annum. During the year, the enterprise produced products worth 26 million rubles. Determine the average annual cost of open pension fund; the amount of depreciation charges for the year; capital productivity.
The average annual cost of fixed assets can be determined using the following formula:
Fsr =Fn.g.+(Finput*N1)/12 - (Fout*N2)/12
Fn.g. - the cost of fixed production assets of the enterprise at the beginning of the year. (rub.)
Fvd., F select. - cost of fixed production assets introduced and retired during the year (rub.)
N1, N2 - number of full months from the date of entry or disposal.
Fsr = 30+6*9/12-4*6/12 = 32.5 million rubles.
The amount of depreciation charges for the year is calculated using the formula:
Asr.= Fsr.*Na/100
Asr. - amount of depreciation charges for the year (rub.)
Na - depreciation rate (%)
Fsr. - average annual cost of fixed production assets (rub.)
Asr. = 32.5*0.12 =3.9 million rubles.
Calculate the amount of 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 rate is 0.88; material deliveries are made once a quarter; annual demand for material is 360 tons.
Нр = 4000 = 0.09 t = 90 kg; Chw = 90 H 0.88 = 79.2 kg;
Production volume per day:
16 pcs H 90 = 1440 kg;
Ztech = 1440 H 91 = 131040 kg;
Zstr = 1440 H 3 = 4320 kg;
Zpr = 131040+4320=135360 kg.
Answer: Ztech = 131040 kg; Zstr = 4320kg; Zpr = 135360 kg.
Required number of workers = 40000 * 1.1: 1800 = 24 people
Determine the required number of workers to produce the annual planned volume of products, provided that production operates in 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 units 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, the decisive factor in the commercial success of a product is competitiveness. This is a multifaceted concept that means the product’s compliance with market conditions, specific consumer requirements, not only in terms of its qualitative, technical, economic, aesthetic characteristics, but also in terms of commercial and other conditions for its sale (price, delivery time, sales channels, service, advertising). Moreover, an important component of the competitiveness of a product is the level of consumer costs during the period of its operation.
Due to the multidimensional application of this category in various fields of knowledge, there are a number of definitions in the scientific and technical literature, 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 analogue 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) “...competitiveness of a product is the ability of a product to be more attractive to the consumer (buyer) compared to other products of a similar type and purpose, due to better compliance of its quality and cost characteristics with the requirements of a given market and consumer assessments.”
All these definitions have one common drawback, representing competitiveness as a set, 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 qualitative characteristics of a product and the costs of its acquisition and consumption, compared to substitute goods, if they meet the requirements of the market or its specific segment.
Otherwise: a product is considered competitive if its total beneficial effect per unit of cost is higher than that of others, and at the same time, the value of none of the criteria is unacceptable for the consumer.
A product with low quality may be competitive at the appropriate price, but if any feature is missing, it will lose its appeal altogether. For example, the lack of a flash on a camera is almost impossible to compensate for by reducing the price.
In addition to the requirements for the product put forward by each individual consumer, there are also requirements common to all products that must be met. These are regulatory parameters that are established by: current international (ISO, IEC, etc.) and regional standards; national foreign and domestic standards; current legislation, regulations, technical regulations of the exporting country and importing country, establishing requirements for products imported into the country; standards of manufacturers of these products; patent documentation.
For example, electrical devices must operate at the voltage supplied to the network and meet fire and explosion safety requirements, and their design is determined by the conditions of the process being carried out.
If at least one of the requirements is not met, the product cannot be put on the market. If the result of the analysis of regulatory parameters is positive, they move on to analyzing the competitiveness of the product in specific markets.
There are several methods for calculating the competitiveness indicator.
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 your own product is carried out, including those that can only be identified during its operation (energy intensity, required frequency of lubrication or replacement of parts).
On the second, the goals of assessing competitiveness are determined, which depend on the stage of the product life cycle, on the strategy and development plans of the company, etc. Before introducing a new product to the market, you need to make sure that its performance is not inferior to its 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 competitors or the departure of old competitors from the market.
In the third stage, market segmentation and justification of the target segment are carried out using marketing methods. If there are several of them, then the competitiveness of the product must be assessed for each segment separately.
Factors ensuring product competitiveness
Factors of product competitiveness include:
Time factor. Ensuring the competitiveness of goods based on the time factor is carried out based on 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 operating and repair costs.
Factor of scale (volume) of production of a product. 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 carried out on the basis of satisfying new human needs or satisfying existing needs in a fundamentally different way.
Factor of method of obtaining information. In the process of production and consumption of products, the same approaches and methods for obtaining information and performing calculations should be used, since otherwise errors of different magnitudes will be introduced into the initial information and the samples under study will not be comparable.
Factor in the operating conditions of the product. Maintaining quality depends on proper use of the product and compliance with product care recommendations. An important factor in consumer preferences is the length of service life. All other things being equal, the more competitive product will be the one with the best performance properties.
Pricing factor. Price determines the structure of production and has a decisive impact on the movement of material flows, the distribution of the commodity mass, and the level of well-being. A correctly set price, reasonable pricing tactics, and a reasonable pricing strategy constitute the necessary components of the successful operation of any enterprise.
Market factor. The need for a detailed description of market opportunities arises already when mastering the production of new products intended for a specific 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 sales. The sales factor is characterized by advertising support, transportability of goods and reliability of delivery.
The transportability of a product is determined by transportation costs, which affects the price of consumption and the shelf life of the product. Thus, if the aesthetic value of the product is violated during the transportation of products, then the price of consumption, sales volume, and, consequently, its competitiveness are reduced.
Reliability of delivery ensures that each product of the required quality and in the required quantity must be in a given place at a given time. In case of violation of delivery conditions, the product may become obsolete and thus be the reason that the consumer may refuse the product. And this will lead to a decrease in trade turnover and competitiveness of goods.
Service factor valid at the stage of pre-sales and after-sales service.
Pre-sales service factors include:
- - conditions for purchasing 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;
- - customization of products according to the figure;
- - dry cleaning of products, etc.
- 2. Rationing of working capital
Sources of working capital formation (WCF) are divided into two types
- 1.Own OBS:
- - working capital (funds from the owners of the enterprise);
- - profit is the main source;
- - stable liabilities (funds equivalent to own):
- - wage arrears;
- - debt to the budget;
- - debt for packaging;
- - prepayment.
- 2. Involved funds:
- - borrowed (short-term bank loans);
- - state loan;
- - other (remains 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 overall need of the enterprise for working capital is determined.
Consumption standards are considered to be the maximum permissible absolute values of consumption of raw materials, fuel and electrical energy for the production of a unit of product.
Rationing the consumption of certain types of material resources requires compliance with certain scientific principles. The main ones should be: progressiveness, technological and economic feasibility, dynamism and ensuring a reduction in standards.
In practice, three methods of rationing working capital are used:
- 1) analytical- provides for a thorough analysis of available inventory items with the subsequent extraction of excess items 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 based calculation of standards for each element of regulated working capital.
When establishing norms and standards for the planned year, it is recommended to use experimental-statistical and calculation-analytical methods.
The working capital norm is a value corresponding to the minimum, economically justified volume of reserves. It is usually set in days.
The OS standard is the minimum required amount of funds to ensure the continuity of the enterprise.
The OS norm (N a.os) is determined by the formula:
N a.os = Z tech + Z str + Z tran + Z tech + P r,
where Z current is the current stock (the main type of stock, the most significant value in the OS norm); 3 pages - safety stock;
Z tran - transport stock;
Z techn - technological stock;
P r - time required for acceptance.
The current stock is determined by the formula:
where C p is the cost of delivery;
And - the interval between deliveries.
Safety stock (the second largest type of stock) is determined by the formula:
Transport stock is defined as the excess of cargo turnover time (the time it takes to deliver goods from the supplier to the buyer) over the document flow time.
Technological stock is the time required to prepare materials for production.
The OBS standard is determined by the formula:
N obs = P * N a.os,
where P is the average daily consumption of working capital;
N a.os - OBS norm.
The OBS standard can also be found using the formula:
where B is the consumption (output) for the OBS element for the period (rub.);
T -- duration of the period (days);
N a.os - working capital norm by element (days).
Working capital standard in production inventories defined:
Z av.s * N z,
where З ср.с - average daily consumption in value terms;
N s - stock norm in days.
Standardization of fixed assets in work in progress(N np) is carried out according to the formula:
N np = VP avg. * P c * K,
where VP avg - average daily output at production cost;
P c - duration of the production cycle;
K is 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 - cost.
With an uneven increase in costs
K = C av / P
where C av is the average cost of a product in work in progress;
P is the production cost of the product.
Working capital standard for deferred expenses(N b.p.) is determined by the formula:
N b.p. = RBP beginning + RBP pre - RBP s,
where RBP beginning is the carryover amount of deferred expenses at the beginning of the planned year;
RBP pre - deferred expenses in the coming year, as provided for in the estimates;
RBP s - deferred expenses to be written off against the cost of production for the coming year.
Working capital standard in finished product balances defined:
N g.p = VGP days. * N W.skl. ,
where is VGP day. - cost of one-day production of finished products;
N z.skl - the norm of their stock in the warehouse in days.
The total working capital standard is the sum of working capital standards 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” - benefit, privilege). Its content is 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, produce and sell products under the franchisor's trademark.
Both the franchisor and the franchisee benefit from the franchising relationship. The franchisor expands sales markets by attracting capital from small firms with lower risks. Compared to entrepreneurs who independently open their own business, franchisees enjoy such advantages as a ready-made market niche, a set of documentation for the production and sales of products, access to a powerful advertising network, the opportunity to purchase 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 conflict with the specifics of the franchisee’s specific operating conditions.
There are three main types of franchising:
commodity, associated with the transfer of means of selling goods of a large company (for example, dealer networks for the sale of cars);
production, providing for the transfer of rights to produce and sell goods using the technologies and raw materials of the franchisor (for example, the chain of companies “Coca-Cola”, “Pepsi-Cola”, etc.);
business (full-format), accompanied by the transfer of rights to all elements of the production cycle, starting from procurement of raw materials, production technologies, product sales schemes (for example, the McDonald's restaurant chain).
There are 30 machines in the workshop; operating mode - two shifts; shift duration - 8 hours; number of working days per year - 255; regulated equipment downtime - 3% of the operating time fund; standard time for processing one product - 0.6; production capacity utilization factor - 0.82. Determine the production capacity of the workshop and the actual volume of production.
Production capacity is understood as the maximum possible annual (daily) volume of product output for 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 based on the capacity of the main (leading) workshops, sections or units, i.e. those of them that perform basic technological operations for the manufacture of products.
In general, the production capacity (M) of an enterprise (shop) can be determined by the formula:
Te is the effective operating time fund of the enterprise (shop);
t is the complexity of manufacturing a unit of production.
Te = 8*2*255-3% = 3957.6 hours.
M = 3957.6*30 / 0.6 = 197880 pcs.
Actual production volume:
Qf = 197880*0.82 = 162261 pcs.
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 produced, the average annual cost of its OPF is 500 million rubles. determine the change capital productivity.
Ф = Annual output / Average annual cost of fixed assets
Change in capital productivity = (890/500)-(980/400) = -0.67
The company sold products in the reporting quarter for 100 million rubles. with an average working capital balance of 25 million rubles. Determine the acceleration of the turnover of funds (in days) and their release due to a change in the turnover ratio in the planned quarter, if the volume of products sold increases by 10% with a constant amount of working capital.
Solution
Relative release of working capital:
Votn = (N *(Tob report-Tob plan))/360 = 101*(90-83)/360 = 1.96 million rubles.
The relative release of working capital occurred by 1.96 million rubles.
Determine the required number of employees to produce the annual planned volume of products based on the data given in the table, provided that the annual fund of effective time of the enterprise is 1800 hours:
H=24000:1800*2.1=28 people
Determine the required number of workers to produce the annual planned volume of products, provided that production operates in 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=15000xX/1800x0.2= 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 volume
- 1st shift 1800*28/ 1.83=27541
- 2 shifts 3600*28/1.83=55082
3. Basic economic elements and performance indicators of manufacturing enterprises (firms)
3.4. Working capital of the enterprise
Concept, composition and structure of working capital. Working capital is a collection of production working capital and circulation funds that is constantly in continuous motion. Consequently, working capital can be classified into circulating production assets and circulation funds, that is, by areas of turnover. Production working capital are objects of labor that are consumed during one production cycle and completely transfer their value to the finished product.Circulation funds- these are enterprise funds that are associated with servicing the process of circulation of goods (for example, finished products).
By their economic nature, working capital is money invested (advanced) in circulating production assets and circulation funds. The main purpose of working capital is to ensure continuity and rhythm of production.
The composition and structure of working capital is shown in Fig. 3.5.
|
Working capital |
|||
|
Industrial working capital |
Circulation funds |
||
|
A) Productive reserves |
B) Funds in production costs |
IN) Finished products |
G) Cash and settlements |
|
1. Raw materials |
10. Work in progress |
13. Finished products in the enterprise warehouse |
15. Settlements with debtors |
Rice. 3.5. Composition and classification of working capital
Based on their purpose in the production process (by element), working capital can be divided into the following groups.
A) Productive reserves. All elements of industrial inventories (1-9) appear in three forms.
1. Transport stock - from the day the supplier's invoice is paid until the cargo arrives at the warehouse.
2. Warehouse stock is divided into preparatory and current.
2.1. Preparatory stock is created in cases where a given type of raw material or materials needs aging (time of natural processes, for example, drying of lumber, aging of large castings, fermentation of tobacco, etc.).
2.2. The current stock is created to meet the requirements for materials and raw materials between two deliveries.
The size of the maximum current stock is determined by the formula
where Q max is the maximum current stock of the corresponding material;
Q T - volume of average daily calendar consumption;
T p - the value of the supply interval for this type of material.
3. Safety stock is created in cases where frequent changes in the supply interval occur, and depends on the specific operating conditions of the enterprise.
B) Funds in production costs.
10. Work in progress is products (work) that have not passed all stages provided for by the technological process, as well as products that are incomplete or have not passed testing and technical acceptance.
11. Semi-finished products of our own production (castings, forgings, stampings, etc.).
12. Deferred expenses are expenses incurred in the reporting period, but related to the following reporting periods.
13. Finished products in the enterprise warehouse.
14. Products shipped but not paid for.
G) Cash and settlements (means of payment):
15. Settlements with debtors (funds in settlements with debtors). Debtors are legal entities and individuals who have a debt to a given enterprise (this debt is called receivables).
16. Income assets are short-term (for a period of no more than 1 year) investments of an enterprise in securities (marketable highly liquid securities), as well as loans provided to other business entities.
17. Cash is funds in current accounts and in the cash register of an enterprise.
The structure of working capital is characterized by the specific weight of individual elements in the totality and is usually expressed as a percentage.
Circulation and turnover of working capital
By the nature of participation in production and trade turnover, circulating production assets and circulation funds are closely interconnected and constantly move from the sphere of circulation to the sphere of production and vice versa according to the following scheme:
D - PZ...PR...GP - D 1,
where D is funds advanced by the business entity;
PZ - production reserves;
GP - finished products;
D 1 - funds received from the sale of products (cost of consumed means of production, surplus product, added value);
...PR... - the circulation process is interrupted, but the circulation process continues in the sphere of production.
It is customary to distinguish three stages of the circulation.
1. Working capital is in cash form and is used to create inventories - the cash stage.
2. Inventory is consumed in the production process, forming work in progress and turning into finished goods.
3. As a result of the process of selling finished products, they receive the necessary funds to replenish production inventories.
Then the circuit is repeated and thus the conditions are continuously created for the resumption of the production process.
The economic assessment of the condition and turnover of working capital is characterized by the following indicators.
1. The turnover ratio (K rev) characterizes the number of revolutions that working capital makes over a certain period of time:
where Q is the volume of products sold;
OS o - average working capital balances.
The average balance of working capital is calculated using the formula for calculating the average chronological value.
2. Turnover in days (duration of one revolution) (T o) is determined by the formula:
where T p is the duration of the period.
The acceleration of turnover is accompanied by additional involvement of funds into circulation. The slowdown in turnover is accompanied by the diversion of funds from economic circulation, their relatively longer necrosis in production inventories, work in progress, and finished products. Turnover indicators can be calculated both for the entire set of working capital and for individual elements.
Sources of formation of economic assets
Sources of financing for economic assets consist of own and attracted (borrowed) funds. Their structure is shown in table. 3.3.
Table 3.3
|
Enterprise assets |
|||
|
Basic |
Negotiable |
||
|
Sources of formation (financing) |
|||
|
Equity |
Raised capital |
||
|
Authorized capital |
Long-term borrowed funds |
Short-term borrowed funds |
|
|
Long-term loans |
Short-term loans |
||
|
Long-term capital |
Short-term capital |
||
Sources of own funds (equity)
Authorized capital determines the minimum amount of property that guarantees the interests of its creditors. The composition of the authorized capital depends on the legal form of the enterprise. The authorized capital is:
- from contributions of participants (share capital) for business partnerships and for limited liability companies (LLC);
- nominal value of shares for a joint-stock company (JSC);
- property shares (production cooperatives or artels);
- authorized capital allocated by a state body or local government body.
Extra capital characterizes the amount of additional valuation of non-current assets, which is carried out in the prescribed manner, as well as values received free of charge and other similar amounts.
Reserve capital is created in accordance with the law to cover unproductive losses and damages, as well as payments of income (dividends) to participants in the absence or insufficiency of profit for the reporting year for these purposes.
Reserve funds are created to cover upcoming expenses, payments, doubtful debts (to the enterprise), for the upcoming payment of vacations to employees, for the payment of remunerations based on the results of work for the year, to cover the upcoming costs of repairing fixed assets, etc.
Savings funds- funds used to finance capital investments.
Targeted funding and revenues- funds allocated to an enterprise by the state (municipality) or sponsor to carry out certain targeted activities.
Lease obligations- payment to an enterprise for fixed assets leased from it.
retained earnings- this is the profit remaining at the disposal of the enterprise after the payment of income (dividends) to participants and the repayment of obligations.
Depreciation deductions- part of the proceeds, usually allocated to accumulation funds, repair funds, etc.
Sources of borrowed funds for the enterprise:
A) Long-term loans and borrowings. Long-term loans are the amount of debt an enterprise owes to a bank for loans received for a period of more than 1 year. Long-term loans are debt on loans received from other enterprises for a period of more than one year.
b) Short-term loans characterize the amount of debt on loans received from banks with a repayment period of up to one year. Short-term loans show debt on short-term loans received from other enterprises and institutions with a repayment period of up to one year.
V) Advances from buyers and customers are a type of lending.
G) Accounts payable. Creditors are legal entities and individuals to whom enterprises have certain debts. The amount of this debt is called accounts payable. Accounts payable may arise as a result of the existing system of settlements between enterprises, when the debt of one enterprise to another is returned after a certain period after the debt arose, in cases where enterprises first reflect the occurrence of debt in their accounts, and then, after a certain time, repay this debt due to absence the enterprise has funds for settlement.
d) Long-term lease of fixed assets. Fixed assets and the most stable part of working capital are financed by long-term capital, the rest of working capital is financed by short-term capital.
With this ratio, funds invested in non-current assets, as well as in the creation of necessary reserves, cannot be unexpectedly claimed by creditors and, thus, disrupt production and economic activities.
Leasing is a form of long-term lease associated with the transfer of equipment, vehicles and other movable and immovable property for use.
financial leasing provides for the payment by the lessee during the contract period of funds covering the full cost of depreciation of the equipment or most of it, as well as the profit of the lessor. Upon expiration of the contract, the lessee can return the leased object to the lessor or purchase the leased object at its residual value.
Operational leasing is concluded for a period shorter than the depreciation period. Financial leasing comes in the form of lending, while operating leasing is similar to short-term leasing and is used in progressive industries.
Direct financial leasing is preferable when an enterprise needs to re-equip existing technical potential (that is, when it is necessary to replace existing fixed assets). In this transaction, the leasing company provides full 100% financing of the purchased property. The property goes to the direct user, who pays for it during the rental period.
There are three parties involved in a leasing transaction (Fig. 3.6): the enterprise (supplier of fixed assets), the leasing company (payer), and the lessee (user).
In fact, leasing is a form of property acquisition combined with simultaneous lending and rent.
1 - the leasing company enters into a tripartite contract (agreement);
2 - delivery of fixed assets to the tenant; 3 - the leasing company pays the cost of fixed assets to the supplier; 4 - lease payments of the tenant to the leasing company
Rice. 3.6. Participants in the leasing transaction
The advantages of leasing are that:
a) leasing allows an enterprise to obtain fixed assets and begin their operation without diverting money from circulation and without significantly increasing accounts payable;
b) fixed assets during the contract are on the balance sheet of the leasing company;
c) rental payments relate to the current expenses of the enterprise, i.e. are included in the cost and, therefore, reduce the amount of taxable profit;
d) the leasing company is not responsible for the quality of the leased object and, in case of failure to fulfill the terms of the contract, can always return the leased object;
e) for the supplier, leasing is a means to expand sales markets.
Leaseback. The essence of leaseback is that a leasing company acquires property from an enterprise and immediately leases it this property with the right of subsequent purchase. An alternative to secured mortgage lending.
| Previous |