Inventory norm. The stock norm is the minimum amount of stock in days required for the uninterrupted, rhythmic operation of an industrial enterprise.

At the same time, industrial enterprises distinguish between current, insurance (warranty) and technological stocks.

Current stock provides the daily needs of production in the intervals between two regular supplies of materials and is defined as:

where: - the norm of the current supply of a given material, days

And - time interval between two next deliveries, days. Warranty(safety) stock is necessary in case of disruption of regular deliveries due to unforeseen circumstances. The guaranteed stock norm should ensure that enterprise I operates in the same mode for the duration of emergency measures for the delivery of materials. Practice shows that the norm is a guarantee reserve. sufficient at half the current supply:

Technological stock is provided for the preparation of raw materials and supplies for production. This is, say, time for part-time work, drying, moistening agricultural or other raw materials. The technological reserve rate is determined in accordance with the technology for processing raw materials or manufacturing an industrial product. For example, for grain it is one and a half to two days, for flour, grapes - hours, for wine before bottling - two weeks, for certain types of industrial materials - a month, etc.

Thus, the working capital norm for industrial inventories for industrial enterprises is determined as:

The working capital standard is calculated in monetary terms as the product of the working capital standard in days by the average daily production costs at cost. In this case, the working capital standard for production inventories will be:

where: - standard working capital for production inventories for a given material, rub.

Inventory norm in days for this material, rub.

D - average daily consumption of this material in physical terms

P - unit price of this material, taking into account transportation and procurement costs, rub.

This is how the standard is determined for all types and groups of inventory and summed up for this entire group of working capital.

The working capital standard for work in progress is defined as:

where: - standard working capital for work in progress, rub.

Duration of the product production cycle, days

Cost increase coefficient, unit fraction

Average daily production costs, rub.

Amount of production costs per year, rub. The duration of the production cycle is determined according to the technological map. It is calculated, say, for bread - in hours, and for cognac and ships - in years.

Average daily costs are determined by dividing the total production cost estimate by the fiscal year (360 days).

The cost increase coefficient characterizes the dynamics of cost growth during the production cycle and is defined as the ratio of the average cycle cost to the production cost:

where: - average cycle cost of the product, rub.

Production cost of the product, rub. Calculating the average cycle cost is a very complex and labor-intensive process, because the nature of the increase in costs is uneven and not the same for each product or group of products. Therefore, for processing industries, where material-intensive products are mainly produced with a relatively insignificant production cycle, the cost increase coefficient can be determined with sufficient accuracy using the formula:

where: M is the share of material costs in the production cost of products, %

O - share of other costs (100 - M), %.

In this case, the cost increase coefficient in these industries is in the range of 0.5 - 1.0. It is assumed that material costs enter the production process immediately, and other costs increase evenly.

Working capital for future expenses is normalized at the level established for the previous year with adjustments for changes in the coming year. Future expenses are insignificant, relatively stable in industries, and this principle of their rationing is completely justified.

The working capital ratio for finished products in the warehouse is determined as:

where: - standard working capital for finished products in the warehouse, rub.

Standard stock of finished products in the warehouse, days

Average daily output at production cost, rub.

The stock norm of finished products in the warehouse is determined from the time required to form a batch of goods for shipment to the consumer and to prepare documents.

The general working capital standard will be the sum of the previously determined private standards:

The working capital standard determined in this way should ensure the uninterrupted, rhythmic operation of the industry enterprise at the level of minimum sufficiency. In other words, the standard of own working capital

funds are the minimum necessary, but not decreasing, needs of funds invested at different stages of the circulation. That is why for seasonally operating industries it is not necessary to standardize their own working capital for the seasonal procurement of raw materials and individual materials. These funds will simply be diverted and frozen in the off-season.

§4. INDICATORS AND WAYS OF INCREASING THE EFFICIENCY OF USE OF WORKING FUNDS AND WORKING CAPITAL IN INDUSTRIAL INDUSTRIES

The efficiency of using working capital and working capital consists of the economical use of working capital and accelerating the turnover of all elements of working capital at all stages of the circulation (D - SP - P - G - D").

Indicators of the efficiency of using working capital are the following:

1. Turnover ratio:

where: - turnover ratio, times

Volume of sales of goods (services, works), thousand rubles.

Average annual cost of working capital, thousand rubles.

2. Turnaround time (handling):

3. Coefficient of assigned funds (load):

There are absolute and relative savings of working capital. Absolute savings of working capital is determined by the simple arithmetic difference between the actual and planned (program, forecast, compared) cost. The relative savings (or release) of working capital is calculated using the formula:

where: - relative OS savings, thousand rubles.

Planned (program, forecast, compared) cost of implementation, thousand rubles.

Basic turnover ratio

The actual cost of working capital at their actual turnover.

For example: in the previous (base) year, the turnover ratio was 3.0 with a sales volume of 3,600 thousand rubles. and 1200 thousand rubles. used working capital. This year, with a sales volume of 4,800 thousand rubles. and used working capital in the amount of 1000 thousand rubles. the absolute effect (release) of working capital will be 200 thousand rubles. (1200-1000), and the relative effect is 400 thousand rubles. (1200-4800/3).

When saving working capital (raw materials, materials, fuel, energy, etc.), saving working capital will be inadequate and amount to:

Ways to save working capital and accelerate working capital, that is, increasing the efficiency of their use will be specific in individual industries. In industry as a whole, these include the following.

1. Reducing cost standards and comprehensive savings in production resources. Reserves of this kind in the Russian processing industry are large: the specific costs of many resources in the country are 1.5-2 times higher than similar indicators in countries with developed market economies.

2. Reduction of inventory balances in warehouses in all industry structures. And here the reserves are enormous. In Japan, for example, input and output inventories do not exceed five percent of the resources used and goods produced, but in Russia they are several times higher and lie as “dead capital,” burdening the already small cash working capital.

We must learn to work “on wheels”, having minimal reserves in accordance with the above calculations for the norms and standards of working capital.

3. Reducing the duration of the production cycle based on the introduction of advanced technologies, improvement of existing ones, transition to continuous production processes, and intensification of production. Thus, the transition to a continuous method of champagne reduced the duration of production of sparkling wines from three years to two to three months with a corresponding release of working capital in work in progress.

4. Rationalization of relations with suppliers and consumers, taking into account the strict requirements of a market economy, which will minimize production inventories and the balance of products in warehouses.

5. Compliance with timely mutual settlements between market entities regarding payments. Elimination of non-payments. Working capital literally settles in these non-payments, which significantly slows down the turnover of working capital.

6. Rationalization of the location of enterprises and capacities of industrial sectors. This will speed up the delivery of resources and the sale of goods, thereby increasing the efficiency of using working capital and increasing the speed of turnover.

7. Improving the organization of production. Transition to continuous flow production. Optimization of the level of concentration, specialization, cooperation and combination of production.

8. Leveling the level of socio-economic development of the country’s territory, comprehensive development of the economy of regions and federal subjects.

9. Scientific and technological progress in all its directions and the large-scale use of its achievements in production.

10. Diversification of production, ensuring faster promotion of goods in various segments of this market.

All this helps to save resources and accelerate turnover, which means reducing the need for working capital and increasing the speed of turnover of working capital.

11. A set of measures for economic, including material incentives to improve the efficiency of using working capital. Such a universal means is the market itself, with fair competition and an objective mechanism for acceleration in the sphere of production and circulation.

Some specific sectors of the processing and mining industries will have their own additional specific factors, reserves and ways to improve the efficiency of using working capital and working capital. This specificity is determined by seasonality, material intensity, duration of the production cycle, the nature of consumption, and therefore the sale of the manufactured industrial product, etc.

I like

Inventory management consists of solving two main tasks:

Creation of a system for monitoring the actual size of the stock and its timely replenishment in accordance with the established norm.

Let's consider the issues of stock rationing.

Determination of stock norm

The stock norm is the estimated minimum quantity of raw materials, components or finished products that must be held by manufacturing or trading enterprises to ensure uninterrupted supply to production or buyers of goods.
Material stocks can be represented in current and safety stock.
The variable part of the entire stock of materials at the enterprise is the current stock, which varies from the maximum size at the time of delivery of materials to almost zero, when the entire batch is used up and a new supply is in line. The amount of the current stock depends on two indicators: the average daily consumption of materials and the frequency of delivery of materials.

Safety stock

Safety stock serves a different purpose. It is intended for the continuous provision of materials or goods to the production or trade process in the event of various unforeseen circumstances, for example, such as: deviations in the frequency and size of delivery batches from those stipulated by the contract; possible delays in materials or goods in transit when delivered from suppliers; unexpected increase in demand.
The safety stock is not untouchable. The consumption of this component of the total stock is also inevitable, just as errors in planning and organizing supplies are inevitable. However, with the planned course of deliveries and stable sales corresponding to the plan, the value of the safety stock, unlike the current one, does not change.
The choice of a method for calculating safety stock standards that most accurately meets the operating conditions of the Company, including its individual units, requires special research.

Methods for determining inventory standards

When determining inventory standards, three groups of methods are used: heuristic, methods of technical and economic calculations and economic and mathematical methods (Fig.).
Heuristic methods involve the use of the experience of specialists who study financial statements for the previous period, analyze the market and make decisions on the minimum required reserves, based largely on a subjective understanding of demand trends. An enterprise employee responsible for the state of inventories can act as a specialist. The method used in this case for solving the problem belongs to the group of heuristics and is called experimental-statistical. If the task at hand in the field of inventory management is quite complex, the experience of not one, but several specialists can be used. By analyzing their subjective assessments of the situation, as well as the proposed options, you can get a fairly good solution, slightly different from the optimal one. This method also belongs to the group of heuristics and is called the method of expert assessments.

Techno-economic method calculations consists in dividing the total stock, depending on the intended purpose, into separate groups, for example, assortment items in trade. Further, for the selected groups, insurance, current and seasonal stocks are calculated separately, each of which, in turn, can be divided into some elements - for example, safety stock in case of increased demand or delays in the delivery of materials (goods) from suppliers. The method of technical and economic calculations makes it possible to quite accurately determine the required size of reserves, but it is labor intensive.

Economic and mathematical methods. Demand for goods or products is most often a random process that can be described by methods of mathematical statistics. One of the simplest economic and mathematical methods for determining the size of a reserve is the extrapolation (smoothing) method, which allows you to transfer the rates prevailing in the formation of reserves in the past to the future. For example, having information about the size of inventories for the past four periods, based on the extrapolation method, you can determine the size of inventories for the upcoming period using the formula

Y5 = 0.5(2Y4+Y3-Y1),

where Y, Y3, Y„ - stock levels (in amount, days or percentage of turnover) for the first, third and fourth periods, respectively; Y5 - standard stock level for the upcoming fifth period.

The inventory level forecast for the sixth period (Y6) can be made using the formula

Y6 = 0.5 (2YS + Y4 - Y2).

International practice of inventory management indicates that the growth rate of inventories should lag somewhat behind the growth rate of demand. Mathematically it looks like this:

where T3 is the growth rate of inventory; Tc is the growth rate of demand.

This relationship between inventories and demand provides the opportunity to accelerate the turnover of working capital.

Notes

The article was prepared based on materials from the textbook by A.M. Gadzhinsky. "Logistics"

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.

When planning working capital requirements, three methods are used:

1. Analytical- involves determining the need for working capital in the amount of their average actual balances, taking into account the growth in production volume. This method is used in those enterprises where funds invested in material assets and costs have a greater share in the total amount of working capital.

2. Coefficient- consists in clarifying the current standards of own working capital in accordance with changes in production indicators. Inventories and costs are divided into those that depend directly on changes in production volumes (raw materials, materials, costs of work in progress, finished goods in warehouse) and those that do not depend on it (spare parts, deferred expenses, low-value items).

For the first group, the need for working capital is determined based on their size in the base year and the growth rate of production in the next year. For the second group, the demand is planned at the level of their average actual balances for a number of years.

3. Direct counting method- scientifically based calculation of standards for each element of standardized working capital, taking into account changes in the level of organizational and technical development of the enterprise, transportation of goods and materials, and the practice of settlements with counterparties.

Rationing begins with determining the average daily consumption of raw materials, basic materials and semi-finished products (P day) in the planning period:

where P is the volume of material consumption for the period, rub.;

T – time period.

Working capital norm (N a.obs) - a value corresponding to the minimum, economically justified volume of reserves. It is usually set in days.

OBS standard (N obs) - the minimum required amount of funds to ensure the continuity of the enterprise. Determined by the formula:

N obs =R day * N a.obs.

The OS stock norm (N a.os) for each type or homogeneous group of materials takes into account the time spent in the current (Z tech), insurance (Z str), transport (Z tran), technological (Z tech) stocks, as well as the time required for unloading, delivering, receiving and storing materials, i.e. preparatory stock (P r):

N a.os = Z tech + Z str + Z tran + Z tech + P r.

Current stock designed to provide production with material resources between two subsequent deliveries. This is the main type of stock, the most significant value in the OBS norm. The current stock in days is determined by the formula:

where C p is the cost of delivery;

I is the interval between deliveries.

The current stock standard is calculated using the formula:

Z tek = R day * I,

Safety stock arises as a result of a delay in delivery. In days is determined by the formula:

Safety stock standard:

Z page = R day * (I f - I pl) * 0.5 or Z page = R day * Z page day * 0.5,

where (I f - I pl ) – gap in the supply interval.

Transport stock is created at enterprises for those deliveries for which there is a gap between the timing of receipt of payment documents and materials. It is defined as the excess of cargo turnover time (time of delivery of goods from the supplier to the buyer) over the document flow time.

The transport stock standard is calculated using the formula:

Ztr = R day * (I f - I pl) * 0.5 or Z page = R day * Z workday * 0.5,

where Z tr.dn is the norm of transport stock, days.

Technological stock - time required to prepare materials for production. The technological stock standard is determined by the formula:

Z those = (Z tech + Z str + Z tr) * To those

where K tech is the technological reserve coefficient, %. It is established by a commission of representatives of the supplier and consumer.

Preparatory stock is established on the basis of technological calculations or by means of timing.

Working capital standard in production inventories is defined as the sum of OBS standards in current, technological and preparatory stocks.

OBS standard in work in progress (N np) is determined by the formula:

N np = VP avg. * T c * K nar.z,

where VP avg – average daily output at production cost;

T c - duration of the production cycle;

Knar.z 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

To Nar.z = 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, provided for in the estimates;

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

Norms for the consumption of working capital are developed directly at enterprises, taking into account the specific conditions of their work ᴛ.ᴇ. taken into account:

remoteness of suppliers from ATP;

supply conditions provided for in contracts;

frequency, uniformity and completeness of supplies;

sizes of supplied lots;

speed of transportation;

regularity of transport that delivers material assets;

system and form of payments;

speed of document flow, etc.

Working capital standards in days for purchased inventories include time:

Finding material assets on the way (transport stock);

Unloading, storing and preparing materials for production (technological stock);

The presence of material assets in the form of a current stock;

Stay in the form of insurance (warranty) stock.

However, the general standard of stock of material resources consists of transport, technological, current and insurance stocks.

Transport stock – is created in case of great distance between the supplier of material assets and the given ATP. It covers the period from the date of payment of the materials supplier's invoice until the cargo arrives at the recipient's warehouse.

Transport stock occurs at enterprises in cases where their distance from suppliers is significant and payment for material assets is made before they arrive at the warehouse. If the delivery time is less than or equal to the time that is extremely important for payment of the invoice, then transport stock is not created.

Technological stock is created at the enterprise if incoming inventory items require pre-processing, laboratory analysis, preparation for production, etc. For example, when rationing the supply of diesel fuel, time is allocated for settling to separate excess impurities.

Time spent on receiving, unloading, sorting, storing, and laboratory analysis.

Current stock created to ensure continuity of production in the period between two next deliveries of material resources. It occupies the most significant place among industrial reserves, is systematically spent on production and is regularly restored through planned deliveries.

The size of the current stock is calculated based on daily consumption rates and the time between successive deliveries. The duration or interval between two next deliveries is established either on the basis of contracts with suppliers, or according to warehouse accounting reports on the quantity and frequency of receipts of materials.

The amount of current stock can be determined by the formula:

Ztek = a Tp,

where a is the average daily consumption of material;

Тп – weighted average interval between deliveries, days.

For large volumes of deliveries with an interval of more than five days, the current stock is created in the amount of 50% of the weighted average volume between two adjacent deliveries.

With a high frequency of supplies of materials, with a small number of suppliers of a certain group of materials, as well as for supplies of materials at short intervals, the current stock can be taken equal to the needs of materials for a given interval, ᴛ.ᴇ. up to the full interval between deliveries.

Insurance (warranty) stock is created to ensure a continuous production process in the event of the current stock being used up and the delivery of the next batch of material being delayed, as well as in the event of an increase in the need for materials in production due to exceeding planned targets, ᴛ.ᴇ. to guarantee against possible supply interruptions.

The safety stock of materials should ensure the normal production process of the enterprise for a time, which is extremely important for the urgent delivery of materials from suppliers. In road transport, the safety stock norm is set at 50% of the current stock. In case of partial use of the safety stock, it must be replenished from the next next delivery batch to the calculated value. Safety stock is determined by the formula:

Zstr = a Tc,

where Tc is the recovery time of the safety stock, days.

However, the stock norm for individual elements of working capital consists of current, technological, transport and insurance stocks.

In addition to current and safety stocks, seasonal safety stocks can be created for the winter period or during the autumn thaw. Seasonal reserves are calculated on the basis of average daily consumption of materials and the duration of the period during which the import of one or another type of material assets is expected to cease. If there is a significant seasonal supply of materials, the current stock is usually not created.