When functioning, the organization carries out parallel supply, production and marketing activities. In accordance with the performance of these functions, the circulation of working capital is carried out. Financial resources invested in inventories, work in progress, finished but not sold products, accounts receivable are related(lose liquidity), while the funds in the current account can be considered as free(liquid) current assets. To manage working capital at all stages of circulation, a special method is used - the rationing method.

Rationing- this is the establishment of economically justified stock standards and standards for the elements of working capital necessary for the normal operation of the enterprise.

The fact is that with regard to working capital, one cannot be guided by a comparison of the results obtained only with actual values ​​in the reporting period or be based on an assessment of the deviations that have arisen from the corresponding data obtained in the previous reporting period. It is necessary to provide an economic justification for the amount of working capital, calculated on the basis of technical, technical-economic and economic norms and standards: with the norms of consumption of material resources for the production of a unit of finished products, production norms, norms of the number, norms and norms for the use of production capacities, etc.

Through the regulation of working capital, the total need of business entities for working capital is determined. The correct calculation of stocks of material assets is of great economic importance, since the constantly necessary minimum amount of funds is established to ensure a normal (continuous) production process and a stable financial condition of the enterprise. The calculation of such a value is necessary, since the lack of free cash will make it difficult for the organization to meet its financial obligations, and an excessive amount of free cash can also reduce the efficiency of using financial resources. Therefore, it is necessary to maintain a certain ratio (balance) between free and tied funds, which is achieved through the normalization of working capital.

Working capital is divided into two separate groups: standardized and non-standardized working capital. To do this, the organization for the current planning period forms for itself regulatory framework on working capital.

Main task normalization of working capital is the development and establishment of economically justified norms of stocks for individual elements of working capital, ensuring, with their minimum size, the continuity of the production and sale process. Such elements of working capital can be stocks of raw materials, materials, fuel, semi-finished products, work in progress, finished products in the warehouse, as well as shipped to the consumer. All of these elements of working capital are normalized and for them in the planning period, stock standards are established in relative terms (days, percentages) and in monetary terms.

Essence rationing is to use for planning purposes certain standards, that is, indicators calculated according to a certain standard (norm). The standards are set on the basis of pre-determined values ​​for the consumption of materials, time, etc., which are calculated, in turn, on the basis of data from previous years or on the basis of technical standards and engineering calculations (if it is known that they did not cause a decrease in efficiency). At the same time, the norms and standards are the initial data for the development of the entire system of planned indicators.

Norm- this is the maximum allowable planned value of the absolute consumption of means of production and labor per unit of output or for the performance of a certain amount of work (for example, the metal consumption rate shows how many kilograms of metal should be spent on 1 product). From the point of view of scientific economic content, this is a measure that has a numerical value, which is used for study and application in management practice, that is, it allows you to influence the object of management. Such norms as norms of time, norms of production, norms of consumption of material resources, etc. are closely connected with the norms of stocks.

Working capital rate- this is a relative value corresponding to the minimum, economically justified volume of stocks of inventory items, set, as a rule, in days and indicating the duration of the period.

For example, if the stock rate is 24 days, then there should be exactly as much stock as will be provided by production within 24 days. The norms of working capital depend on the norms of consumption of materials in production, the norms of wear resistance of spare parts and tools, the duration of the production cycle, the conditions of supply and marketing, the time it takes for some materials to establish certain properties necessary for consumption, and other factors.

standard- this is a planned indicator that characterizes the elemental components of the consumption rates of raw materials, materials, fuel, energy, labor costs and the degree of efficiency of their use (for example, wages per 1 ruble of finished products, product removal from 1 m 2 of area, planned metal utilization rate) .

Working capital ratio- this is the minimum required amount of funds to ensure the production and economic activities of the enterprise. The standards are determined taking into account the need for funds both for the main activity and for the overhaul of ancillary, auxiliary and other units that are not on an independent balance sheet.

Thus, any organization should develop a model package of methodological documents on the definition of such norms and standards for standardized indicators. At the same time, the system of norms of working capital is the most important component of the system of normative indicators at the enterprise, since for effective activity it is important to know:

• at what level of production and marketing stocks is the uninterrupted production, supply and marketing process ensured;
• how much financial resources are diverted to maintain them;
• What is the optimal amount of money in cash.

Basic Principles regulation (formation of norms and standards) are:

• progressiveness - reflection in the norms and standards of the achievements of the scientific organization of labor, production, management, experience, new technology;
• validity - development of norms based on technical calculations and analysis of production;
• complexity - all norms and norms are covered in their interconnection;
• flexibility and dynamism - systematic updating of the regulatory framework;
• comparability - ensuring the harmonization of the regulatory framework at different levels of management and production.

Based on the rate of stock and consumption of this type of inventory, the amount of working capital necessary to create normalized reserves for each type of working capital is determined (to determine private standards).

The private ones include the norms of working capital in production stocks: raw materials, basic and auxiliary materials, purchased semi-finished products, components, fuel, containers, in work in progress and semi-finished products of own production; in deferred expenses; finished products.

The ratio of the element of working capital is calculated by the formula

where N el - the standard of own working capital for the element;

About el - the turnover of funds (expenditure) for this element for the period, t;

T - duration of the period, days;

N el - the rate of working capital for this element, days.

It is advisable to establish by organization:

1. norms and level of reliability of provision with production stocks for the entire specified range of material resources;
2. norms and standards of working capital (including accounts receivable and cash) and the level of reliability of security;
3. the share of borrowed funds invested in working capital.

Under reliability is understood as the probability of delivery, which affects the relative number of days in a year during which the organization will be provided with working capital and circulation funds. The lower the level of reliability, the lower the value of the established norm. The main idea is not just to set standards, but also to evaluate degree of risk(how many days is enough for a given level of norms).

The degree of risk is directly related to the chosen level of reliability of provision with reserves - the higher the level of reliability, the lower the degree of risk. For example, 100% reliability means a 20-day supply, 95% reliability means a 22-day supply, and so on.

In this case, a rationally chosen risk will allow much more efficient use of material and financial resources in the face of a lack of working capital. Thus, one of the goals of normalization is to determine the range of possible variations in daily balances during the year, on the basis of which the value of the required stock rate is established.

At present, there is no unequivocal opinion on the application of specific methods of normalization of working capital. It is proposed to use different methods for determining norms and standards: analytical, balance, calculation and statistical, etc. A variety of methods is due to a large number of factors affecting the amount of working capital, and a variety of models for accounting for these factors. Also, an important role is played by the desire to simplify the procedure for calculating standard values.

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

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

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

When planning the need for working capital, 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 the funds invested in material assets and costs have a larger share in the total amount of working capital.

2. Ratio- 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 products in stock) 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 over a number of years.

3. Method of direct counting- scientifically substantiated calculation of standards for each element of normalized 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 (R days) in the planning period:

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

T is the period of time.

Working capital rate (Na.obs) - the 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:

H obs =R day * N a.obs.

The OS stock rate (Na.os) for each type or homogeneous group of materials takes into account the time spent in the current (3 tech), insurance (3 lines), transport (3 countries), technological (3 tech) stocks, as well as the time required for unloading, delivery, acceptance and storage of materials, i.e. preparatory stock (P r):

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

current stock is designed to provide production with material resources between two successive 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 - the cost of delivery;

And - the interval between deliveries.

The current stock ratio is calculated by the formula:

Z tech \u003d R day * And,

Safety stock arises as a result of a violation of the delivery time. In days, it is determined by the formula:

Safety stock standard:

Z str \u003d R day * (I f - I pl) * 0.5 or Z str \u003d R day * Z str. days * 0.5,

where (I f - I pl ) - a 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 the terms of cargo turnover (the time of delivery of goods from the supplier to the buyer) over the terms of the document flow.

The standard of the transport stock is calculated by the formula:

Z tr \u003d R day * (I f - I pl) * 0.5 or Z str \u003d R day * Z tr.dn * 0.5,

where 3 tr.dn - the norm of the transport stock, days.

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

Z those \u003d (Z tech + Z str + Z tr) * To those

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

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

Working capital ratio in inventories is defined as the sum of the OBS standards in the current, technological and preparatory reserves.

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

H np \u003d VP sr.d. * T c * To nar.z,

where VP av.d is the average daily output of products at the production cost;

T c - the duration of the production cycle;

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

where Ф e - one-time costs;

F n - increasing costs;

C - cost.

With an uneven increase in costs

To Nar.z \u003d C cf / P

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

P is the production cost of the product.

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

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

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

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

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

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

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

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

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

The total working capital ratio is the sum of the working capital ratios calculated for individual elements. When establishing norms and standards for the planned year, it is recommended to use the experimental-statistical and calculation-analytical method.

The composition of working capital in inventories includes the following elements: raw materials, basic materials, purchased semi-finished products, auxiliary materials, fuel, containers, spare parts, wearing items.

The working capital ratio for stocks of raw materials, basic materials, purchased semi-finished products is calculated on the basis of their average one-day consumption and the average stock rate in days. One-day consumption of each type of raw materials and basic materials used (Rsh-/ T) is determined by the cost estimate for the production and sale of products, where PMJ is the consumption of the i-th material resource for a certain period of time; T - the time period for which the cost estimate is drawn up. In financial accounting and analysis, it is customary to consider the duration of one month equal to 30, a quarter - 90, a year - 360 days.

The working capital rate takes into account the time spent by each type of material in transport, technological, current, insurance and preparatory stocks. Transport stock created during long-term transportation of materials, technological reserve necessary when this type of raw material needs pre-treatment, preparation for the processing process, exposure to give certain consumer properties (natural drying, pickling, mixing, grinding, etc.). current stock ensures uninterrupted operation of the enterprise in the intervals between successive deliveries. Its size is affected by the frequency of supplies and the volume of consumption of materials in production. Safety stock created in case of violation of supply conditions or cargo delays in transit and ensures the continuous operation of the enterprise. Preparatory Stock is calculated based on the time of acceptance, unloading, sorting and storage of inventories. The rate of working capital for each type of materials (Nm (.) is determined by summing the time spent by materials in all types of stocks.

Working capital ratio for each type of materials (7. .) is calculated as 4 mg

The norm of working capital as a whole for the main materials (nom) is calculated as the weighted average norm for the group of basic materials

Consumption of all (or group) basic materials:

The working capital ratio for all or a group of basic materials is calculated by the formula

The working capital ratio for auxiliary materials, fuel, wearing items is determined by the analytical method. When using it, the working capital ratio is first calculated for these reserves in rubles per employee / PE,) or for 1000 rubles. cost of production / Wb) based on the actual standard for auxiliary materials in the base period (2bvm) and the actual number of personnel (NPB) or the actual volume of manufactured products (V.). Then the resulting indicator is multiplied by the planned headcount (NPM1) or the planned output (B||p).

Planned standard of working capital for auxiliary materials

Working capital ratio for all production stocks

Rationing of work in progress

The size of work in progress is determined by the following factors: the volume of products produced, the duration of the production cycle, the unit cost of production, the dynamics of increasing costs during the production cycle.

The volume of output affects the value of work in progress: the more produced, the greater the size of work in progress.

The volume of work in progress is directly proportional to the duration of the production cycle. The duration of the production cycle is measured by the time from the moment of the first technological operation to the acceptance of the finished product at the finished product warehouse. Reducing the duration of the production cycle leads to a reduction in stocks in work in progress, and vice versa.

The valuation of work in progress depends on the cost of the costs incurred. The lower the cost of production, the lower the volume of work in progress in value terms. The increase in costs entails an increase in the cost of work in progress.

The dynamics of the increase in costs during the production process reflects cost increase factor.

The standard of working capital in work in progress is determined by the product of the cost of a one-day expense according to the cost estimate for the production of gross output and the norm of working capital. The cost of one-day costs is calculated as the ratio of the cost of gross output in a given period (WITH) to the length of the period ("/"): S/T- one day expenses.

The rate of working capital in work in progress (Nnp) is determined based on the duration of the production cycle (£) and the cost escalation factor (K)

The cost escalation factor reflects the degree of readiness of products as part of work in progress. All costs in the production process are divided into initial (one-time) and subsequent (increasing). Non-recurring costs include costs incurred at the beginning of the production cycle (raw materials, materials, semi-finished products). Other costs (wages, depreciation, electricity, etc.) increase throughout the cycle.

The increase in costs in the production process can occur evenly and unevenly. With a uniform increase in costs, the cost increase coefficient is determined by the formula

where th - the share of initial costs in the cost of production.

With an uneven increase in costs, the cost increase coefficient is calculated as

where Zr c = £3. /t - the average cost of a product in work in progress; 3. - expenses for the 1st period of time on an accrual basis, rub/days; r - part of the time in the duration of the production cycle; £ - the duration of the full production cycle, days; C - production cost of a product (batch of products) produced in one production cycle, rub.

Working capital ratio in work in progress (X) calculated by the formula

where С/Г - one-day production output at the planned cost price, rub/day; C - the cost of gross output in a given period, rubles; T - duration of the period, days; I- duration of the production cycle, days; Knz - the coefficient of increase in costs in work in progress.

Rationing of working capital in deferred expenses

The economic content of deferred expenses is the need to finance some of the costs at present, but which will be included in the cost of production in the next period. The working capital ratio for deferred expenses (^|>6||) is determined as follows:

where Rn - the amount of expenses at the beginning of the planning period; Р||l - the planned amount of expenses in the forthcoming period; Рс - the amount of expenses attributable to the cost of production in the planned period.

The amount of expenses at the beginning of the planning period is taken from the balance sheet. The amount of deferred expenses in the coming year is determined on the basis of the company's scientific and technical development plan and the planned cost estimate for production. The amount of deferred expenses, attributable to the cost of production in the planned period, is calculated based on the planned cost estimate for production.

Rationing of working capital in finished products in stock

The standard of working capital for finished products is defined as the product of one-day output of products at the production cost and the norm of working capital for finished products

where S/T - one-day release of marketable products at production cost; H - the rate of working capital for finished products; is defined as the total time in days required for the selection (picking) of products according to orders, packaging, transportation of products to the station of departure, paperwork.

Determination of the total working capital ratio

The total standard of working capital determines the general need of the enterprise for working capital necessary for the continuous operation of the enterprise. The enterprise's need for normalized working capital, calculated by the direct account method, is equal to the sum of the standards for all elements of normalized working capital

The non-standardized working capital of the sphere of circulation includes funds in goods shipped, cash, funds in settlements. The amount of non-standardized working capital calculated by the method of aggregated calculations is added to the amount of normalized working capital, and as a result, the total amount of working capital is obtained.

The analytical method of calculation involves the use of data on the state of working capital in the period preceding the planned period. To find the total standard of working capital by the analytical method, all normalized working capital are combined into two groups:

• 1) dependent on the growth of production volume (raw materials, basic and auxiliary materials, purchased semi-finished products, containers, work in progress, finished products), which are indexed relative to the basic standard;
• 2) not dependent on the growth of production volume (spare parts for repairs, household equipment, etc.), the value of which remains the same.

Failure to fill the standard of working capital may lead to non-fulfillment of the production program due to failures in the production and sale of products. Excess stocks divert cash from circulation, which leads to inefficient use of resources.

Indicators of the use of working capital

The criterion for evaluating the effectiveness of the use of working capital is the duration of the period of turnover. The longer the period of turnover of working capital, the less efficiently they work. In this case, additional funds are diverted to replenish working capital. On the contrary, the acceleration of turnover releases funds, and they can be directed to other purposes of the enterprise.

The efficiency of the use of working capital is characterized by economic indicators. There are three main indicators of the use of working capital: the turnover ratio of working capital over the period (year, quarter), the duration of one turnover in days and the working capital utilization factor.

Working capital turnover ratio (K(t) is measured by the number of revolutions made in a certain period of time, characterizes the intensity of their use and is determined by the ratio

where RP is the volume (or cost) of products sold; OS - the average annual balance of working capital. The higher the turnover ratio, the better the use of working capital.

Duration of one turn in days (Add) allows you to judge how long working capital goes through all the stages of the circuit (make a full turnover),

where Г is the number of calendar days of the period (360 days - a year, 90 days - a quarter, 30 days - a month). Reducing the duration of one turnover indicates an improvement in the use of working capital.

Working capital utilization factor (K. () - the inverse indicator of the turnover ratio, shows the amount of working capital spent on 1 ruble of sold products,

The change in the turnover of funds is revealed by comparing the actual indicators with the planned or indicators of the previous period. As a result of comparing the turnover of working capital, its acceleration or deceleration is revealed. The release of working capital due to the acceleration of their turnover can be absolute and relative. Absolute Release takes place if the actual balances of working capital are less than the balances of the previous period while maintaining or exceeding the volume of sales for the period under review. Relative release takes place if the growth rate of sales volume outpaces the growth rate of working capital balances.

Increasing the efficiency of the use of working capital is ensured by the acceleration of their turnover at all stages of the circulation.

At the preparatory stage, this is a good organization of supply (achieved as a result of the selection of suppliers, the well-established operation of transport, the establishment of clear contractual conditions for deliveries and ensuring their implementation), a clear organization of the work of the warehouse.

At the productive stage, reducing the time spent by working capital in work in progress is achieved by improving the technologies used, improving the use of fixed assets (primarily the active part), and improving the organization of production.

In the sphere of circulation, the reduction in investments of working capital is achieved as a result of the rational organization of the sale of finished products, the timely execution of documentation and the acceleration of its movement, the use of progressive forms of payment, compliance with contractual and payment discipline.

The standard of working capital is an indicator that determines the minimum amount of the presence of which is sufficient to ensure the normal flow of the technological process. This value for this business entity does not have a constant value. The working capital ratio is directly dependent on the volume of products produced, as well as on the work of the supply and sales service, the assortment list of goods and forms of settlement with customers. In the financial sector of the enterprise, this indicator is the most variable.

At the second stage of calculating the indicator, the amount of working resources is determined, the volume of which is necessary in order to create the amount of stock necessary for the continuity of the production cycle for each element included in the technological process. Thus, there is a definition of private standards. Each element is calculated by a formula. It expresses the product of the norm of the stock of funds in circulation for a single element by the quotient obtained from dividing the expenditure of this component for the planned period by the value of this period.

The working capital ratio, calculated for the enterprise, consists of a value that is determined by summing up private indicators of the stock of production resources. Its size expresses the minimum volumes of goods and material assets that will ensure the smooth functioning of the enterprise.

The working capital ratio is the amount:

Standard stocks for industrial purposes;

Work in progress standard;

The standard of released finished goods;

The rate of expenses related to the upcoming periods.

The value of the indicator for stocks related to the production of products delimits resources by their individual types or homogeneous groups of materials. The size of this standard directly depends on the time the values ​​are in the preparation stage, as well as in the period of the technological process. Insurance stocks are also taken into account.

The working capital ratio in work in progress is directly dependent on four main factors. These include:

The volume and composition of products;

Time indicator of the technological cycle;

The nature of the increase in costs during the process of releasing goods.

If there is a volume of resources at the enterprise that is insufficient to bring it to the normative value, processes occur that contribute to:

Reducing the release of goods;

Interruptions in production, as well as sales and, as a result, non-fulfillment of planned indicators;

Violations of the schedules of deliveries of goods to customers.

In modern market conditions, the importance of calculating working capital norms is increasing. Their correct application in practice leads to strengthening the financial condition of a business entity and its solvency.

Working capital ratio in 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 the work of the company's management. With the help of what formulas the corresponding standards can be calculated, we will consider in this article.

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

Any standard of working capital (hereinafter - OS) is a characteristic that reflects the optimal value of OS 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, it is minimal in terms of purchase and maintenance costs of these assets.

In the context of inventories (IPZ) and work in progress, the economic role of the working capital ratio will be to determine the required amount of fixed assets based on the objective characteristics of the business model that have developed at a certain point in time (fixed in a certain period).

These characteristics can be represented, for example:

1. For MPZ:

• cost of assets;
• the dynamics of spending assets;
• the duration of the asset processing cycle in production;
• the degree of reliability of the supply of inventories (for example, in the context of the duration of possible delays in delivery, the likelihood of interruptions in supplies).

2. For objects of work in progress:

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

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

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

Both norms of working capital - 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 the inventory is received by the workshop until the moment the goods are accepted from this workshop, in the production of which the corresponding inventory was used (if we talk about the standard of working capital in the production stock);
• period as a set of business transactions, within which, at one stage or another of the release 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. To be a benchmark for assessing the quality of inventory management and work in progress.

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

In turn, the excess of actual indicators over the normative ones may indicate an inefficient use of the enterprise's funds.

The fact is that inventory and work in progress are assets that are significantly less liquid than cash. In most cases, it is difficult to use inventories to purchase other assets, extremely difficult to repay liabilities, and practically impossible to purchase securities. From this point of view, the presence of a large amount of funds at the disposal of management is almost always preferable to the presence of an excess inventory of inventories.

In order to remedy the situation, management decisions can be made, mainly of a disciplinary nature, aimed at improving the quality of execution by responsible managers of requirements for the amount of fixed assets in accordance with the standards.

2. Be a benchmark for evaluating the effectiveness of the business model.

If it turns out that the OS standards in inventory 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 inefficient 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 inventory or work in progress. For example, this may be the introduction of new technologies that reduce the cost of goods, the search for new suppliers who deliver inventory without interruptions, 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 the norms of working capital for inventories (calculation formula)

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

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

refinery - the standard of working capital for production stocks;

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

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

STR - the amount of insurance stock;

TR - the volume of the transport stock;

TEX - the volume of technological stock.

The refinery indicator is thus expressed in terms of money.

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

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

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

TEK \u003d DAY × BP,

SUT - the average volume of consumption of material and production stock per day;

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

2. The CFR indicator (required in case of interruptions in the supply of inventory) is calculated by the formula:

0.5 × SUT × RP,

RP is the expected average difference between the planned and actual delivery times for materials.

3. The TP indicator (required in case of a delay on the way of a vehicle carrying an MPZ from a supplier) is calculated using a similar formula:

0.5 × SUT × ZTS,

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

4. The TEX indicator (reflecting the magnitude of technological losses in production and, as a result, the need to replenish the inventory by the appropriate amount) is calculated by the formula:

(TEC + STR + TR) × NORM,

NORM - the established standard of technological losses.

Example

The enterprise produces concrete, and for this purpose such a type of MPZ as sand is used. Let's agree that:

• the company buys sand at a price of 2,000 rubles per ton (SEB);
• the full cycle of concrete production is 10 days (BP);
• the average daily consumption of sand is 3 tons (SUT);
• the expected average difference between planned and actual sand deliveries is 2 days (RP);
• the expected average delay of the supplier's vehicle en route is 1 day (AT);
• norm of technological losses of sand - 2% (NORM).

We calculate the volume of stocks:

TEK \u003d 3 × 10 \u003d 30 tons;

STR \u003d 0.5 × 3 × 2 \u003d 3 tons;

TP = 0.5 × 3 × 1 = 1.5 tons.

TECH \u003d (30 + 3 + 1.5) × 0.02 \u003d 0.69 tons.

The standard for working capital in inventories will be:

Refinery \u003d (30 + 3 + 1.5 + 0.69) × 2,000 \u003d 70,380 rubles.

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

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

NP \u003d (SV × SP × KZ) / PERIOD,

NP - OS standard in work in progress;

CB - the average duration of the production cycle of the release of goods;

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

KZ - coefficient of increase in costs (shows the ratio of the cost of an MPZ object to the cost of a finished product);

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

The short circuit coefficient can be calculated by the formula:

KZ \u003d (MPZ + 0.5 × TsZ) / (MPZ + TsZ),

MPZ - the cost of raw materials and materials for the release of goods during the analyzed period;

CZ - shop costs (for electricity, maintenance of machine tools and equipment).

Example

The company manufactures concrete. Let's agree that:

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

1. We find the short circuit indicator, which will be:

KZ \u003d (2,000,000 + 0.5 × 1,000,000) / (2,000,000 + 1,000,000) \u003d 0.83.

2. We find the NP indicator, which will be:

NP \u003d (10 × 3,000,000 × 0.83) / 365 \u003d 68,219.18 rubles.

Results

The standard of working capital in the inventory, as well as standard of working capital in work in progress are among the key criteria for evaluating 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 characterizing the efficiency of the enterprise in the articles: