Financial and Economic Features of Technical Re-equipment of the Workshop Machine-Building Enterprise

Elvira Distantovna Khisamova, Svetlana Mazgutovna Nuryyakhmetova and Gulnara Damirovna Kayumova

International Journal of Financial Research, 2020, vol. 11, issue 5, 434-441

Abstract: One of the urgent problems of modern industrial enterprises is the problem of their technical development. The most common direction of technical development is the technical re-equipment of industrial enterprises. This is a very long and costly process, requiring both from the management of the enterprise and from its employees of high qualification, the ability, and skills to make quick decisions and predict the outcomes of these decisions. Currently, the market for technical and technological equipment is represented by many kinds of different industrial machines, aggregates, mechanisms of different manufacturing firms, different levels of complexity, productivity, energy intensity, and, of course, different costs. The analysis of the market, the choice of suppliers of production equipment, the formulation of terms of delivery and payment, installation, assembly, and installation of equipment at the enterprise, commissioning and subsequent technical support are all elements of the process of renewal of fixed assets called technical re-equipment. Technical re-equipment includes raising the technological level of production, which includes the use of additional new equipment (both in the case of physical and moral obsolescence). During this event, either modified tools will be used in the production of old products, or the quality of the products will change, or a completely new product will be produced, or all taken together. In addition, the concept of technical re-equipment can include the re-qualification of personnel during the re-equipment process and bringing technologies in line with environmental norms and standards.

Keywords: technical re-equipment; modernization; investment efficiency; equipment quality; labor productivity (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:11:y:2020:i:5:p:434-441

DOI: 10.5430/ijfr.v11n5p434

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