Rationing of working capital in production inventories. The working capital ratio in work in progress is calculated using the formula The working capital ratio is calculated using the formula

Working capital standard in production inventories , as well as in work in progress, can be a significant characteristic of the efficiency of the enterprise, as well as a criterion for assessing the quality of work of the company’s management. We will consider in this article what formulas can be used to calculate the corresponding standards.

What are the standards for fixed assets in inventories or work in progress?

Any working capital standard (hereinafter - OS) is a characteristic that reflects the optimal value of fixed assets in the form of enterprise assets (represented by inventories or work in progress), which, on the one hand, is sufficient to maintain a continuous production cycle, on the other hand, is minimal in terms of expenses for the purchase and maintenance of these assets.

In the context of inventories (IP) and work-in-process items economic role The working capital standard will consist in determining the required volume of fixed assets based on the objective characteristics of the business model that have developed at a certain point in time (recorded in a certain period).

These characteristics can be presented, for example:

1. For MPZ:

• cost of assets;
• dynamics of asset expenditure;
• duration of the asset processing cycle in production;
• the degree of reliability of supplies of goods and materials (for example, in the context of the duration of possible delays in deliveries, the likelihood of supply interruptions).

2. For work in progress items:

• the cost of production of finished goods (the production of which at a certain stage forms objects of work in progress);
• duration of the production cycle;
• the ratio of the value of production costs for the production of work in progress objects to the cost of the finished product.

But first of all, let’s determine how these standards can be used in practice from the point of view of enterprise managers making management decisions.

Why it may be necessary to determine the working capital standard in inventories or work in progress

Both working capital standards - in inventories and work in progress - are calculated, as a rule, for the period corresponding to the full production cycle. Namely:

• the period as a set of business transactions from the moment of receipt of inventories at the workshop until the moment of acceptance from this workshop of goods for the production of which the corresponding inventories were used (if we talk about the standard of working capital in the production inventory);
• period as a set of business transactions within which, at one or another stage of production of goods, an object of work in progress is formed (if we talk about the OS standard in work in progress).

Both standards can:

1. Be a reference point for assessing the quality of inventory management and work in progress.

If responsible managers allow a decrease in the actual indicators for fixed assets in inventories or work in progress, serious difficulties may arise in the operation of the enterprise, including stopping production.

In turn, an excess of actual indicators over standard indicators may indicate ineffective use Money enterprises.

The fact is that inventories and work in progress are assets that are significantly less liquid than cash. In most cases, inventories are difficult to use to purchase other assets, extremely difficult to pay off liabilities, and almost impossible to purchase valuable papers. From this point of view, having more cash at management's disposal is almost always preferable to having an excess inventory of inventories.

In order to correct the situation, measures may be taken management decisions, mainly of a disciplinary nature, aimed at improving the quality of fulfillment by responsible managers of the requirements for the volume of OS in accordance with the standards.

2. Be a reference point for assessing the effectiveness of the business model.

If it turns out that OS standards in inventories or work in progress are significantly higher than those of individual competing firms or the industry average (with the same volume of output of goods produced by the compared firms), then this may indicate an ineffective enterprise management model.

In order to correct the situation, management decisions can be made aimed at modernizing business processes that affect the value of OS standards in inventories or work in progress. For example, this could be the introduction of new technologies that reduce the cost of goods, the search for new suppliers who deliver materials without interruption, etc.

Let us now consider what formulas will be used to determine the standards for working capital in inventories and work in progress.

How to determine working capital standards for inventories (calculation formula)

The common formula for the working capital standard for industrial inventories has the following structure:

Refinery = SEB × (TEK + STR + TR + TECH),

Refinery - working capital standard for production inventories;

SEB - cost (cost of purchase, release) of production inventory (in rubles);

TEK - the volume of the current stock (in a given unit of measurement - for example, in tons);

STR - volume of safety stock;

TR - volume of transport stock;

TECH - volume of technological stock.

The oil refinery indicator is thus expressed in monetary terms.

Each of these components of the formula depends on the specifics of the organization of production at a particular enterprise and can depend on a wide range of factors.

1. The SEB indicator corresponds to the actual cost of a specific inventory, everything is obvious here.

2. The TEK indicator (necessary to ensure a full cycle of uninterrupted production) is calculated using the formula:

TEK = SUT × BP,

SUT is the average volume of consumption of inventory per day;

BP is the duration of the full production cycle in days.

2. The TFR indicator (necessary in case of interruptions in the supply of goods) is calculated using the formula:

0.5 × SUT × RP,

RP is the expected average difference between the planned and actual delivery time of materials.

3. The TR indicator (necessary in case of delay of a vehicle en route carrying goods from the supplier) is calculated using a similar formula:

0.5 × SUT × ZTS,

ZTS is the expected average delay of a vehicle from the supplier.

4. The TECH indicator (reflecting the amount of technological losses in production and, as a consequence, the need to replenish the inventories by the corresponding amount) is calculated using the formula:

(TEK + STR + TR) × NORM,

NORM - established standard for technological losses.

Example

The company produces concrete, and for this it uses a type of concrete material such as sand. Let's agree that:

• the company purchases sand at a price of 2,000 rubles per ton (SEB);
• the full concrete production cycle is 10 days (BP);
• the average daily sand consumption is 3 tons (AD);
• the expected average difference between planned and actual sand supplies is 2 days (DP);
• the expected average delay of the supplier's vehicle in transit is 1 day (ZTS);
• The standard for technological sand losses is 2% (NORM).

We calculate the volumes of reserves:

TEK = 3 × 10 = 30 tons;

STR = 0.5 × 3 × 2 = 3 tons;

TR = 0.5 × 3 × 1 = 1.5 tons.

TECH = (30 + 3 + 1.5) × 0.02 = 0.69 tons.

The standard for working capital in production inventories will be:

Refinery = (30 + 3 + 1.5 + 0.69) × 2,000 = 70,380 rubles.

How to determine the standard for work in progress (as a factor in the economic efficiency of an enterprise)

Common formula for working capital standards in work in progress has the following structure:

NP = (NE × SP × SC) / PERIOD,

NP - OS standard for work in progress;

SV is the average duration of the production cycle for the release of goods;

SP - the cost of production of this product during the reporting period;

KZ - cost increase coefficient (shows the ratio of the cost of an inventory item to the cost of the finished product);

PERIOD - the number of days in the reporting period (for which the IR indicator is considered).

The short circuit coefficient can be calculated using the formula:

KZ = (MPZ + 0.5 × CZ) / (MPZ + CZ),

MPZ - costs of raw materials and supplies for the production of goods during the analyzed period;

TsZ - shop costs (for electricity, maintenance of machines and equipment).

Example

The company produces concrete. Let's agree that:

• the cost of its annual volume is 3,000,000 rubles (SP);
• reporting period - year, 365 days (PERIOD);
• the average duration of the production cycle is 10 days (DC);
• costs for raw materials and materials for concrete - 2,000,000 rubles (MPZ);
• shop costs - 1,000,000 rubles (CZ).

1. Find the short circuit indicator, which will be:

KZ = (2,000,000 + 0.5 × 1,000,000) / (2,000,000 + 1,000,000) = 0.83.

2. Find the NP indicator, which will be:

NP = (10 × 3,000,000 × 0.83) / 365 = 68,219.18 rubles.

Results

The working capital standard in the inventories, as well as standard of working capital in work in progress are among the key criteria for assessing the effectiveness of an enterprise’s business model. The lower they are, the more efficient production can be considered.

You can get acquainted with other significant economic indicators that characterize the efficiency of an enterprise in the articles:

The standard for working capital in production inventories is 2,200 thousand rubles,

standard for deferred expenses - 500 thousand rubles,

product production plan 6000 pcs.,

production cycle duration - 30 days;

production cost of one product is 36 thousand rubles;

cost increase factor - 0.85;

stock norm finished products in stock - 26 days.

Define:

1. standard working capital in work in progress;

2. standard of working capital in finished products;

3. general standard of working capital of the enterprise.

Solution:

1. The standard for working capital in work in progress is determined by the formula:

B is the volume of production in physical terms;

C is the cost of one product;

T pc - duration of the production cycle;

Kn - production growth rate;

D - duration of the planning period.

2. Standards for working capital in finished products:

N gp = P × D nz,

P - one-day production at production cost,

D nz - the standard stock of finished products in days.

Let's find one-day output at production cost:

N gp = 600 * 26 = 15,600 thousand rubles.

3. The general working capital standard of an enterprise is the sum of:

Nose. = N pr.z + N np + N gp + N r.b.p.

N pr.z - production reserve standard,

N np - work in progress standard,

N gp - standard stock of finished products,

N r.b.p.

- standard of expenses for future periods.

Nose. = 2200 + 15,300 + 15,600 + 500 = 33,600 thousand rubles.

Industrial inventories are material resources located at the enterprise, but not entered into the production process.

Rationing of working capital in production inventories begins with determining the average daily consumption of raw materials, basic materials and purchased semi-finished products in the planned year. The average daily consumption of raw materials, basic materials, purchased products and semi-finished products is calculated in groups, and in each group the most important types are identified, which constitute approximately 80% of the total cost of material assets of this group. Unaccounted for raw materials, basic materials, purchased products and semi-finished products are classified as expenses for other needs. Average daily consumption material resources

The current stock (TS) is intended to provide production with material assets between two reporting deliveries:

where J is the delivery interval, days.

This is a constant supply of materials fully prepared for launch into production.

This reserve is the maximum. The current stock reaches its maximum value at the time of the next delivery. As it is used, it decreases and by the time of the next delivery it is completely consumed.

In the process of calculating current inventories, the most labor-intensive thing is to establish the delivery interval, i.e. interval between two next deliveries. In case of untimely receipt of material, i.e. when the actual interval (J) exceeds the planned interval (J), a production stoppage situation may arise due to the lack of necessary material. To avoid stopping the production process, a safety stock is created.

Safety stock (SZ) is defined as half the product of the average daily material consumption (P) and the gap in the supply interval (J-JPL),

SZ=P*(J-J)*0.5

negotiable asset rationing

In case of an aggregated assessment, it can be taken in the amount of 50% of the current stock. In the case where an industrial enterprise is located far from transport routes or non-standard, unique materials are used, the safety stock norm can be increased to 100%. When supplying materials under direct contracts, safety stock is reduced to 30%.

The occurrence of safety stock is due to a violation in the supply of materials on the part of the supplier. If this violation is associated with a transport organization, a transport stock (TR) is created, which includes those working capital that are diverted from the day the supplier's invoice is paid until the cargo arrives at the warehouse. Transport stock is calculated in the same way as safety stock:

TrZ= P*(J-J)*0.5

The most labor-intensive process is determining the supply interval for insurance and transport stocks, which are influenced by both permanent and temporary factors. Therefore, when calculating working capital standards, it is necessary to take into account the specific production and economic conditions of each industrial enterprise.

Technological (preparatory) stock is created in cases where incoming material values do not meet the requirements of the technological process and undergo appropriate processing before being put into production. Technological reserve is calculated as the product of the material manufacturability coefficient and the amount of reserves (current, insurance, transport):

The material's manufacturability coefficient is established by a commission consisting of representatives of suppliers and consumers.

Preparatory stock is associated with the need to receive, load, sort and store production stocks. The time standards required for these operations are established for each operation for the average delivery size based on technological calculations or through timing.

In this case, the preparatory stock is equal to the sum of the average time for receiving and unloading incoming material and the time for documentation and storage, divided by the number of working hours (8). Technological reserve is not specified.

Stock rate:

NZ= PZ+TZ+SZ+TRZ,

where NZ is the stock rate;

PZ - preparatory stock;

TK - current stock;

SZ - safety stock;

TRZ - transport stock.

Preparatory stock is calculated as the sum of the average time for receiving and unloading incoming material from the supplier and the average time for completing documentation, quality control and warehousing for one delivery, divided by 8 hours.

Calculation of stock norms

Name of material	Preparatory stock, days	Current stock, days	Safety stock, days	Transport stock, days	Stock norm, days

Calculation of one-day consumption of materials in cost terms:

n=total quantity of materials in natural units of measurement*standard price per unit of materials / number of working days per year.

Number of working days in a year - the number of days in a year excluding weekends and holidays (250).

Determination of daily material consumption:

The stock standard for each type of material is equal to the product general norm stock and daily consumption of materials:

Stock standard, rub.

The total stock standard for materials is equal to the sum of stock standards for individual types of materials:

SNZ= 244568.305, where

СНЗ - total stock of materials.

The working capital standard for spare parts is established based on their actual consumption of 1 million rubles. the cost of all equipment by dividing the working capital standard by the book value of the equipment.

The standard for spare parts is calculated depending on the equipment group. The first group includes equipment for which standard working capital standards for spare parts have been developed; the standard is defined as the product of standard standards and the quantity of this equipment, taking into account reduction factors. The second group includes large, unique, including imported, equipment, the standard for which is determined by the direct counting method. The third group of equipment includes small single equipment, the standard for which is established by the consolidated counting method. The working capital standard for spare parts is generally equal to the sum of the standards for three groups of equipment.

The standard for working capital in inventories of low-value and wear-and-tear items is calculated for each item based on stock in the warehouse and operation. The standard for warehouse stock is determined in the same way as for raw materials and basic materials; for operational stock, the standard is set, as a rule, at 50% of the cost of items, the other half of their cost is written off to the cost of production upon transfer to operation.

The current system of rationing working capital has a number of negative consequences, and therefore needs to be improved. For example, the working capital standard in inventories takes into account the cost of stocks of individual materials that do not meet real needs. In fact, the cost of a day's supply of materials and finished products is not constant and may deviate significantly from the planned value during the year. Consequently, when planning working capital based on the standard, it is necessary to take into account the fact that with a significant range of materials, one part of them may be characterized by maximum reserves, and the other by minimum. If maximum inventories increase during production activities, then the amount of normalized working capital will exceed the real need, i.e. excess stocks will arise.

The standard for working capital in work in progress should ensure the rhythm of the production process and the uniformity of receipt of finished products at the warehouse. This standard expresses the cost of products that have begun but are not completed and are at various stages of the production process. As a result of the calculation, the value of the minimum reserve sufficient for normal production operation should be determined. Rationing of working capital in work in progress is carried out by groups or types of products. If the range of products is varied, then the standard is calculated based on the main products, constituting 70-80% of its total volume.

The working capital standard for work in progress is determined by:

N = P x T x K

P – one-day production costs;

T – duration of the production cycle;

K – cost increase coefficient.

One-day costs are determined on the basis of the cost estimate for the production of marketable products for the corresponding quarter or year.

P = production cost estimate / 90 (360).

The stock rate in days for work in progress is the product of the production cycle duration and the cost increase factor. The duration of the production cycle is the calendar period of time from the moment raw materials are put into production until the finished product is released and delivered to the warehouse.

The production cycle includes :

technological reserve(time of direct processing of the product);

transport stock(time of transfer of a product from one workplace to another and to the warehouse);

working stock(residence time of products between processing operations);

safety stock(in case any operation is delayed).

The production cycle is determined for each type of product in calendar days, taking into account the number of work shifts per day. With a significant range of products, the duration of the production cycle is determined as a weighted average.

Cost increase factor reflects the nature of the increase in costs in work in progress by day of the production cycle, slightly lowering the stock rate (the value of the coefficient is always less than one).

All costs in work in progress are divided into one-time and accrual. Non-recurring costs include those incurred at the beginning (usually the first day) of the production cycle and including the costs of raw materials, supplies, semi-finished products, etc. The remaining costs increase over the days of the production cycle either evenly or evenly and are considered accruing.

With a uniform and uneven increase in costs, the coefficient of increase in costs is determined.

If all costs incurred in work in progress are divided into one-time and uniformly increasing costs, then the cost increase coefficient is determined by the formula:

K=(Ze + 0.5Zn) / (Ze + Zn)

K – cost increase coefficient;

Ze – one-time costs;

Zn – increasing costs.

If costs increase unevenly over the days of the production cycle, the cost increase coefficient is determined by the formula:

K= (ZexT) + (Z2xT2) + (Z3xT3) + … + (0.5xCrxT) / CxT

Ze – one-time costs incurred at the beginning of the production cycle;

Z2, Z3, … - costs by days of the production cycle;

T2, T3, ... - time from the moment of one-time operations to the end of the production cycle;

Зр – costs incurred evenly during the production cycle;

C – production cost of the product;

T – duration of the production cycle.

Costs that increase evenly (Cp) are accepted at half the amount, since they are present simultaneously at all stages of the production cycle. For enterprises where it is not possible to use the direct counting method to calculate the standard of working capital in work in progress, the standard is determined based on data on the turnover of working capital in work in progress in the previous period. To do this, the average actual balance of funds in work in progress must be divided by the average daily output at production cost (working capital rate) and multiplied by the daily output according to the plan for the 4th quarter of the coming year.

Rationing of working capital is to develop standards for types of inventory and costs, as well as measures to improve the efficiency of using working capital.

The value of normalization of working capital:

Ensures continuity and uninterrupted production and sales of products;

Allows efficient use of working capital at each enterprise;

Contributes to strengthening the economy regime, identifying and using on-farm reserves;

Ensures optimal need for working capital;

Provides inventory size management.

Working capital rationing refers to the process of determining the minimum, but sufficient (for the normal flow of the production process) amount of working capital at the enterprise.

When rationing working capital, it is necessary to take into account the dependence on the following factors:

Duration of the production cycle for manufacturing products;

Consistency and clarity in the work of procurement, processing and production shops;

Supply conditions;

Distance of suppliers from consumers;

Speed ​​of transportation, type and uninterrupted operation of transport;

Time to prepare materials to start their production;

Conditions for the sale of products;

Payment systems and forms, document flow speed, factoring capabilities and forecasting.

The following elements of working capital are standardized:

Productive reserves;

Unfinished production;

Future expenses;

Finished products in the enterprise warehouse;

Cash in hand and in storage.

In the process of rationing working capital, norms and standards are developed.

Working capital norm– this is a relative value corresponding to the minimum, economically justified stock of inventory items. It is set in days.

Working capital ratio- this is the minimum required amount of funds to ensure economic activity enterprises.

If working capital standards can be set at relatively a long period, then the standards are calculated for a specific period of the year (quarter, month, decade).

Rationing of working capital includes:

Determination of working capital stock norms in days;

Determination of standards for all working capital in monetary terms, including for each element.

General standard of working capital or total need for working capital of the enterprise(Ntot) is defined as the sum of private standards calculated for individual elements of working capital using the formula:

Ntot = Npz + Nnp + Nbr + Ngp + VAT,

where oil refinery is the production reserve standard; Nnp - work-in-progress standard; Nbr - standard of expenses for future periods; Ngp - finished product standard; VAT is the standard for cash on hand and in storage.

The production inventory standard consists of current, insurance, transport and technological reserves.

Current stock(TK) is intended to provide the production process with material resources between two deliveries. Its value is usually determined within half the average interval between deliveries. The maximum value of the current stock in natural units of measurement (tons) is calculated based on the stock rate in days (T n) and the average daily consumption of materials (R day) in tons. In this case, the maximum value of the current stock is determined by the formula:

TZ = Tn x R day

Safety stock(SD) can be calculated in two ways: by the average deviation of actual delivery times from planned ones or by the time required for urgent ordering and delivery of material resources from the supplier to the consumer. In case of an aggregated assessment, it can be taken in the amount of 50% of the average daily consumption of material (Рsut), multiplied by the gap in the supply interval (I str), i.e. the difference between the actual delivery time (If) and the planned one (Ipl) and is determined by the formula:

SZ=Rsut (If – Ipl)*0.5

The need to have a safety stock is explained by the constant violation of deadlines for the supply of material resources by the supplier. If this violation is associated with a transport organization, a transport stock is created, including those working capital that are diverted from the day the supplier's invoice is paid until the cargo arrives at the warehouse.

Transport stock(T rZ) is created in case of exceeding the terms of cargo turnover in comparison with the terms of document flow. Its calculation is carried out similarly to the calculation of safety stock using the formula:

T r Z = Rsut* (If – Ipl)*0.5

Technological stock(T ex Z) is created when the supplied material resources do not fully meet the requirements of the technological process and must undergo appropriate processing (for example, removing rust from the metal surface) before being put into production and is determined by the formula:

T ex Z = (TZ + SZ + T r Z) * ​​K tech

where K tech is the coefficient of manufacturability of the material, which is set as a percentage by a commission of representatives of suppliers and consumers.

Scope of material supply(refinery) is equal to the sum of four reserves and is determined by the formula:

Npz = TZ + SZ + T r Z + T ex Z

Calculation of material supply in value terms(Npz st) is determined by the formula:

Npz st = C m, *Npz

where C m is the purchase price of the material.

General standard of industrial reserves determined by the formula:

Npz total =∑Зj,

where Зj is the production stock according to separate species(group) of material.

Example: Determine the cost of supplying material resources if the average daily consumption of material is 7.2 tons, the price of 1 t C m = 10 thousand rubles, the planned delivery interval I pl = 9 days, safety stock SZ = 3 days, transport stock T r Z = 2 days, technological reserve T ex Z = 3%.

Current stock: 7.2*9=64.8 tons. Safety stock: 7.2*3*0.5=10.8 tons. Transport stock: 7.2*2*0.5=7.2 tons. Technological reserve: (64.8 + 10.8 + 7.2) * 0.03 = 2.48 tons. Total volume of supply in physical terms: Refinery total = 64.8 + 10.8 + 7.2 + 2, 48 = 85.28 tons. Cost of supply of material resources: 10 * (64.8 + 10.8 + 7.2 + 2.48) = 852.8 thousand rubles.

The working capital standard for work in progress (N np) is determined by the formula:

N np = V d * T p * K z

where V d – average daily production at cost, thousand rubles; T p – duration of the production cycle; Kz – cost increase coefficient.

Increased costs in production process can occur evenly or unevenly.

With a uniform increase in costs, i.e. to enterprises with uniform output cost increase factor determined by the formula:

where a is the initial costs (for raw materials, supplies, purchased semi-finished products); c – all other costs; 0.5 – coefficient characterizing the uniformity of increase in subsequent costs.

Working capital standard for future expenses determined by the formula:

N bp = O n + Z bpl - Z spl,

where O n is the balance of deferred expenses at the beginning of the planned year (thousand rubles); Z bpl – deferred expenses in the coming year, provided for by the relevant estimates (thousand rubles); Z spl – deferred expenses subject to write-off against the cost of production for the coming year in accordance with the production estimate (thousand rubles).

Working capital standard in finished product inventories(NGP) is the product of the planned cost of the average daily output of marketable products by the time from their arrival at the warehouse to their departure from the station, taking into account the time for processing transport settlement documents according to the formula:

N gp = GP one * N g,

where GP one – one-day production of finished products at cost (thousand rubles); N g – stock norm of finished products (days).

Example: Turnover of goods at purchase prices for the quarter is 1,900 thousand rubles, the norm of stock of goods is 3 days. Determine the standard in working capital for inventories of goods, thousand rubles.

GP one = 1900/90 = 21 thousand. rub.

N gp = 21*3 = 63 thousand rubles.

2.2.4. Efficiency of using working capital: indicators,

ways to improve

To analyze the use of working capital, assess the financial condition of an industrial enterprise and develop organizational and technical measures to accelerate their turnover, a system of indicators is used that characterize the real process of movement of working capital and the amount of their release (Fig. 2.2).

Rational and efficient use of working capital helps to increase financial stability enterprise and its solvency. Under these conditions, the enterprise fulfills settlement and payment obligations in a timely and complete manner, which allows it to successfully carry out business activities.

Key indicators of efficiency in the use of working capital

Turnover coefficient coefficient coefficient

(turnaround time) load turnover working efficiency

(turnover rate) of funds or profitability of working capital

Rice. 2. 2.2. Indicators of the use of working capital

Example: Volume products sold at the cost of production for the reporting year amounted to 60,000 thousand rubles. with the amount of working capital at the end of the reporting year being 5,000 thousand rubles. Profit from the sale of commercial products is 1500 thousand rubles.

1. Working capital turnover:

O o = (5000 x 360) / 60000 = 30 days

The duration of one revolution is 30 days.

2. Turnover ratio:

Ko = 60000 / 5000 = 12 revolutions

Working capital made 12 revolutions during the year.

3. Working capital load factor:

Kz = 5000 / 60000 = 0.08

For 1 rub. products sold account for 0.08 rubles. working capital.

4. Working capital efficiency ratio:

Kef = 1500 / 5000 = 0.3

For 1 rub. working capital accounts for 0.3 rubles. arrived.

The economic result of accelerating the turnover of working capital is the release of part of these funds from circulation.

Release of working capital May be absolute and relative. The determination of the amount of release of working capital is presented in Fig. 2.2.3.

Release of working capital

absolute release relative release

working capital working capital

Rice. 2.2.3. Release of working capital

Example. The actual volume of commercial products at cost in the current year is 2,500 thousand rubles, the actual amount of all working capital at the end of the current year is 2,800 thousand rubles, the volume of commercial products for the coming year is 3,600 thousand rubles. with an expected acceleration of working capital turnover by 4 days.

Under these conditions, the turnover of working capital in the current year will be:

O = 2800 / (2500 / 360) = 40 days

The amount of working capital, based on the volume of marketable products in the planning year and turnover in the current year, will be determined in the amount of 4,000 thousand rubles.

(36000 x 40) / 360

The amount of working capital, based on the volume of marketable products, in the coming year, taking into account the acceleration of their turnover, will be 3,600 thousand rubles.

3600 x (40 – 4) / 360

The relative release of working capital as a result of accelerated turnover in the coming year will be equal to 400 thousand rubles.

Accelerating the turnover of working capital and releasing them as a result in any form will allow the enterprise to direct funds to the development of the enterprise without attracting additional financial resources.

When analyzing the operation of an industrial enterprise, various indicators of the beneficial use of material resources are used:

Indicator (coefficient) of the output of finished products from a unit of raw materials;

Indicator of raw material consumption per unit of finished product;

Material utilization coefficient (the ratio of the net mass of the product to the standard or actual consumption);

Material intensity (the ratio of the costs of raw materials, fuel, materials, energy, etc. to production volume);

Material productivity (the ratio of production volume to the costs of raw materials, fuel, materials, energy, etc.);

The better the use of raw materials, materials and other material resources, the lower the material consumption and the higher the material productivity.

To reduce the material consumption of products it is necessary:

Improve the use of labor items;

Reduce waste;

Do not produce defective or low-quality products;

Avoid loss of material resources;

Use cheaper substitutes for resources that do not reduce product quality.

One of the main directions for increasing production efficiency is improving the use of working capital, i.e. an increase in the volume of products sold with a constant cost of working capital or a reduction in the amount of working capital with a constant volume of products sold.

Improving the use of working capital can be achieved through:

Economical and rational use of material resources;

Optimizing the size of inventories and work in progress;

Accelerating the turnover of working capital.

In modern conditions, one of the most important tasks of an enterprise is acceleration of turnover of working capital .

At the stage of industrial reserves, this is the use of economically justified stock standards, bringing suppliers of raw materials, materials, semi-finished products, and components closer to consumers; use of direct connections; extension wholesale trade materials and equipment, comprehensive mechanization, automation of loading and unloading operations in warehouses.

At the stage of work in progress - this is the acceleration of the development of scientific and technological progress, the development of standardization, unification, typification; improvement of forms of organization industrial production, the use of more economical structural materials; improving the system of economic incentives for the economical use of raw materials and fuel and energy resources.

At the circulation stage, this is the approach of consumers to its manufacturers; improvement of the payment system; increase in the volume of products sold based on direct orders; manufacturing products from saved materials.

QUESTIONS AND TASKS FOR SELF-CHECKING KNOWLEDGE

1. What is meant by working capital of an enterprise?

2. Name the characteristics of the classification of working capital.

3. What is meant by revolving funds and what is their composition?

4. What are circulation funds and what is their composition?

5. What factors influence the structure of working capital?

6. What are the stages that form the circulation of working capital?

7. What is the essence of rationing of working capital?

8. What components make up the working capital standard?

9. How is the efficiency of using working capital assessed?

10. Name measures to improve the efficiency of using working capital.

ADDITIONAL LITERATURE

1. Babuk I.M. Enterprise economy: Tutorial for students of the system of advanced training and personnel training / I.M. Babuk, V.I. Demidov, L. Grintsevich, V.T. Pyko. – Mn.: BNTI, 2002. – 263 p.

2. Gruzinov V.I., Gribov V.D. Enterprise Economics: Textbook. manual.-2nd ed., additional. – M.: Finance and Statistics, 2001.

3. Zaitsev N.L. Economics of the organization. - M.: “Exam”, 2000.

4. Kozik P. Management of working capital of an enterprise // NEG, No. 38, 2002. p.21.

5. Leshko V. Working capital management // Economics. Finance. Control. -No. 12.-2000-p.30-32.

6. Directory of an enterprise financier. - 2nd ed., add. and processed – M.: INFRA-M, 2000.

7. Economics of enterprise and industries: Proc. Allowance / Under. ed. A.S. Pelikh. 4th ed. additional and processed – Rostov-on-Don: Phoenix, 2001.

8. Enterprise economics. Workshop: Textbook / A.N.Senko, E.V. Krum. – Mn.: Higher. school, 2002.