The aim of the article. The aim of the research is to improve the methodological approaches to a priori determining the initial indices of profitability of technological equipment to solve the dynamic optimization task over time of industry technical re-equipment. The results of the analysis. One of the effective mechanisms to ground the industry technical re-equipment and to substitute threadbare machinery is the dynamic optimization method, but it is necessary to improve methodological approaches to a priori determination of baseline data, particularly the profit value, being calculated concerning the entire production system function period. The suggested methodological approach and corresponding algorithm provide calculation the profit sum at a cost structure of production, being manufactured by technological equipment of certain age at defined year of it use regarding to time factors and economic. Annual production volume would be planned at the highest level of possible productivity for the technological equipment, taking into account its age. The production capacity is gradually decreasing from its initial value, even taking into account the execution of prophylactic, current and thorough repairs. Consequently formula for determining of summary profit of output production manufactured by concrete equipment is evidently its function dependence of profitability level, equipment productivity and the commodity unity cost. Concerning the commodity unity cost it is expedient to take into account it dependence on the predicted level of annual inflation. Determination of equipment productivity dynamics may be proposed on the basis of using amortization approaches to basic production assets. To define indexes of obsolescence condition and production suitability of technological equipment the yearly amortization norm would be calculated. As regards to mentioned indices may be confirmed their dependence on the group of factors – technical factors, that influence the increase or decrease of the coefficient of equipment suitability; quality of all kinds of repair – prophylactic work, qualification level of personnel carrying out the machine – tools and technological equipment exploitation, acceptability to conditions of it usage. To affect the influence of indicated factors it may be proposed to put into operation modification coefficient of obsolescence and production suitability of basic production assets, being established by the expert valuation method. To fulfill the expert examination of production system an expert group is formed, and every expert gives his grade on a ten-mark scale for six influences – factor groups to every object of appraisal. The next algorithm step is calculation the coefficient of modification by using of indices received from experts. As a result of completed expert examination the mentioned coefficient can change values of equipment obsolescence and production suitability according to real industry conditions being often distinct from the industry standard methods of it determination. Consequently for offering of improved approach it may be proposed formula for a priori calculation the value of economic profit obtained to use at dynamic optimization method: Pi(t) = R∙G1(t)∙[Kм(WA)i(t)]∙S1(t)∙(1 + і∙KІН). Its components are: R – production profitability; Gi(t) – initial equipment productivity; Kм(WA)i(t) – modified coefficient of production suitability; S1(t) – initial product cost; KІН – coefficient of annual inflation; t – equipment exploitation age; i – the index of any present year of the equipment exploitation period. Simultaneously a new approach may be offered to use a priori calculated profit value, obtained by exploitation of technological equipment. It consists in division of considered profit value Pi(t) into two components: the first part of profit value P(CUR)i(t) will be turned to the present – day needs (for example to equipment repair), and the rest of profit value P(DEP)i(t) may be directed to the bank depositary using to get additional revenue: Pi(t) = P(CUR)i(t) + P(DEP)i(t)∙[1 + d]N– i. Components of formula: Pi(t) – summery profit value; P(CUR)i(t) – the part of summery profit assigned to current using at an enterprise, P(DEP)i(t) – the part of summery profit assigned to bank deposit using; d – annual bank percent rate; N – the whole duration of equipment exploitation term, years. It is the main point of economic after-action influence principle, which can be realized to the purpose of technical innovative re-equipment of enterprises. Conclusions and directions for further research. After conducted studies author investigates improved methodic to form profit size Pi(t) from equipment work during N years, as a priori – calculated value, to use dynamic programming method in tasks for production technical re-equipment feasibility. It is also suggested to differentiate calculated profit size Pi(t) per each year of the production system work, for separate constituents with possibility to use both for current needs for technical re-equipment and for profit part capitalization, particularly through depositary banking multiplication. As perspective for further studies one can propose methodic improvement of the a priori total costs determination for equipment exploitation and repair, as one of the significant starting factors in the dynamic programming task in the production technical re-equipment process. It will provide more rational usage of resources to renovate production base at the enterprise.
Keywords: technologies, equipment, dynamic optimization, innovations, profitability, technical reequipment production
JEL Classification: M11, M31.
Cite as: Bezugla, D. (2015). Economic feasibility of reequipment terms based on profitability criterion. Marketing and Management of Innovations, 1, 221-230. https://doi.org/10.21272/mmi.2015.1-19