Journal of Applied Economic Research
ISSN 2712-7435
The one-day Marginal Income as the Instrument of Management of Production Efficiency Taking into Account Influence of Cost and Temporary Factors
Klyuev A.V.
Abstract
Abstract. The article observes an extremely high level of attention being now paid to costs when assessing the overall performance of manufacturing enterprises. A number of contemporary interpretations of the concept of "production efficiency" is cited that are proposed by domestic and foreign researchers who place the main emphasis on the aspect of costs. It is also noted that at the present stage of development of the markets and, in particular, of the competition between certain producers, a further increase of their efficiency within the cost paradigm occur within specific limits. In this connection, a need for embracing a new field of the development of the competitiveness of manufacturing enterprises which goes beyond cost factors only is stated. A search for and a comprehensive investigation of this area also becomes the main objective of this article. As the subject for the search, the organization of production, which constitutes the area of science closest to production, is selected. A number of theoretical studies by the most outstanding representatives of this science throughout the most important stages of its development is reviewed in the article. They have been observed to pay an increasing attention to temporal factors. On the basis of the analysis, the authors create an new indicator of production efficiency which is at the same time considers influence both from cost and from temporal factors. Two examples of its application to concrete production situations are given and analyzed in detail. As a result, the substantial superiority of this indicator in comparison with those traditionally applied is revealed, and a number of additional opportunities for increasing the competitiveness of manufacturing enterprises is proposed.
Keywords
Key words: efficiency; competitiveness of production; cost factors; temporary factors; production efficiency indicator; competitiveness development.
About Authors
DOI: http://dx.doi.org/10.15826/vestnik.2016.15.4.25
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