Aviation industry enterprises production capacities modernization specifics analysis

Аuthors

Melik-Aslanova N. O.^*, Moskvicheva N. V.^**

Moscow Aviation Institute (National Research University), 4, Volokolamskoe shosse, Moscow, А-80, GSP-3, 125993, Russia

*e-mail: Melik-Aslanova@yandex.ru
**e-mail: moskvichevanatalia@mail.ru

Abstract

To carry out production capacities modernization at aviation industry enterprises one needs motivated buildup and approval of the investment policy. It includes the following basic stages:

1. The first stage — analysis of financial and economic activities of an enterprise, market outlet and competitiveness of manufactured products and assessment of production capacities condition.

At this stage, we determine the degree of moral and physical depreciation of basic production assets, and the line of activity selection to provide the necessary equipment including:

• Introduction of advanced techniques and technology;

• Mechanization and automation of production;

• Modernization and replacement of obsolete and physically worn-out equipment, and other directions.

2. The second stage focuses on the selection of the most significant projects, determination of the total volume of required investment resources. We recommend carrying out the analysis of the sources of investment resources with an allowance for the complexity of funds raising. The attraction of additional monetary resources with the use of credit and stock markets is proposed.

Based on the stated structure of investment capital for production capacities modernization, the determination of modernization of production capacities efficiency indicators, which the enterprise should approach, is realized.

Feasibility report of the project is included into economic mechanism of modernization of production capacities investment policy.

A special role in managing the implementation of the investment policy is assigned to the achievement of the required efficiency indicators of the implementation of production capacities modernization and the return on investment. For this purpose, it is expedient to carry out the justification of the need for investment resources considering economic indicators that reflect the costs of their involvement.

Calculations of the technology for justification of sources of investment resources application for production capacities modernization at the enterprises of the aviation industry efficiency include:

• Calculation of attraction of investment resources expenses, taking into account the time factor.

• Determination of the payback period of investment resources.

• Justification of the profitability of projects and calculation of additional profit as a result of production capacities modernization.

Keywords:

production capacities modernization, basic production assets of aviation industry enterprises, investment resources

References

1. Federal’nye celevye programmy, available at: http://www.programs-gov.ru/

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4. Troshin A.N. Finansovyj menedzhment (Financial management), Moscow, Infra-M, 2013, 331 р.