Evaluating the impact of lean production on financial and economic indicators of an innovative enterprise
Zaytsev A.A.1
1 Московский государственный технический университет им. Н.Э. Баумана
Download PDF | Downloads: 21 | Citations: 19
Journal paper
Russian Journal of Innovation Economics (РИНЦ, ВАК)
опубликовать статью | оформить подписку
Volume 7, Number 3 (July-September 2017)
Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=30107682
Cited: 19 by 30.01.2024
Abstract:
Under the existing economic conditions Russian enterprises face the necessity to maintain their competitiveness using their internal reserves. Such innovative managerial concepts as the kaizen philosophy and the Lean Production concept (LPC) are particularly promising in order to achieve this goal. Both the Russian scientific and business communities was devoting much of their attention to improving production, logistic, organizational, and managerial processes as well as to implementing the LPC in the recent decades. However, the interrelations between the LPC and changes in the Free Cash Flow of an enterprise have not been sufficiently clarified. Thereupon, the paper presents decomposition of the Free Cash Flows from operating, investment, and financial activities down to the key financial parameters. The author analyzes the influence of the LPC implementation on the financial parameters. The results of the analysis can be used to design a system of Key Performance Indicators for functional subsystems involved into the process of the LPC implementation and also to develop an approach to evaluating the economic effect of the LPC implementation projects.
Keywords: lean production, cash flows, financial indicators, financial analysis, free cash flow
JEL-classification: O31, M11, L21, G32, G31, O16
References:
Arshba L.N., Zharikova N.A. (2014). Vnedrenie instrumentov berezhlivogo proizvodstva v strukturnyh podrazdeleniyakh zheleznodorozhnogo transporta [Adoption of lean production instruments in railway structural divisions]. Universum: ekonomika i yurisprudentsiya. (5(6)). 2. (in Russian).
Bikmukhametova Ch.Z. (2013). Organizatsiya upravlencheskogo ucheta zatrat na predpriyatiyakh, vnedryayuschikh printsipy «berezhlivogo proizvodstva» [Organization of management accounting of costs at enterprises that implement the principles of "lean production"]. Aktualnye problemy gumanitarnyh i estestvennyh nauk. (7-1). 146-150. (in Russian).
Damodaran A. (2016). Investitsionnaya otsenka: Instrumenty i metody otsenki lyubyh aktivov [Investment valuation: Tools and Techniques for Determining the Value of Any Asset] M.: Alpina Pablisher. (in Russian).
Davydova N.S., Klochkov Yu.P. (2012). Model upravleniya vnedreniem sistemy «Berezhlivoe proizvodstvo» na predpriyatii [Application management model for the lean production system at an enterprise]. Vestnik Udmurtskogo universiteta. (2-4). 32-35. (in Russian).
Drake P.P. Summary of what is free cash flow and how to calculate itБаза данных Университета Джеймса Мэдисона, США. Retrieved December 11, 2016, from http://educ.jmu.edu/~drakepp/general/FCF.pdf/
Efimychev Yu.I., Plekhova Yu.O. (2007). Realizatsiya rezervov razvitiya promyshlennogo predpriyatiya na osnove kontseptsii berezhlivogo proizvodstva [Realization of development reserves of an industrial enterprise on the basis of the concept of lean production]. Vestnik NNGU im. N.I. Lobachevskogo. (1). 223-227. (in Russian).
Ermakova E.A. (2012). Vnedrenie printsipov berezhlivogo proizvodstva v R&D protsessy [Implementation of Lean Production Principles In R&D Processes]. Creative economy. (10(71)). 19-24. (in Russian).
Giza F., Zaytsev A.A. (2014). Rol upravleniya tsepochkami postavok v razvitii sovremennogo biznesa [The role of supply chain management in the development of modern business]. Russian Entrepreneurship. (8(254)). 46-54. (in Russian).
Goldsbi T., Martichenko R. (2009). Berezhlivoe proizvodstvo i 6 sigm v logistike: rukovodstvo po optimizatsii logisticheskikh protsessov [Lean Six SIGMA Logistics: guide to logistics optimization] Minsk: Grevtsov Pablisher. (in Russian).
Imai M (2009). Kaydzen: Klyuch k uspekhu yaponskikh kompaniy [Kaizen: The Key To Japan's Competitive Success] M.: Alpina Pablisherz. (in Russian).
Khiggins R.S., Raymers M. (2013). Finansovyy menedzhment. Upravlenie kapitalom i investitsiyami [Financial management. Managing capital and investments] M.: Vilyams. (in Russian).
Korolyova N.A. (2015). Povyshenie ekonomicheskoy effektivnosti predpriyatiy Rossii na osnove vnedreniya kontseptsii berezhlivogo proizvodstva [Increase economic efficiency of Russian enterprises on the basis of introduction of the concept of lean production]. Science Time. (6(18)). 235-243. (in Russian).
Kraftova I., Kraft Y., Zaytsev A.V. (2013). Filosofiya razvitiya innovatsionnyh izmeneniy v natsionalnoy ekonomicheskoy sisteme [Philosophy of the development of innovative changes in the national economic system]. Creative economy. (3). 56-63. (in Russian).
Layker Dzh.K. (2007). Dao Toyota: 14 printsipov menedzhmenta veduschey kompanii mira [The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer] M.: Alpina Biznes Buks. (in Russian).
Melnikov O.N. (2010). Upravlenie intellektualno-kreativnymi resursami naukoemkikh proizvodstv [Management of intellectual-creative resources of science-intensive productions] M.: Kreativnaya ekonomika. (in Russian).
Melnikov O.N., Zaytsev A.A. (2015). Perspektivy perekhoda predpriyatiy na innovatsionnye kontseptsii upravleniya sovremennym proizvodstvom [Prospects for the transition of enterprises to innovative concepts of modern production management]. Creative economy. 9 (6). 721-734. (in Russian).
Ptuskin A.S., Antsev V.Yu., Vitchuk N.A. (2014). Metodika rascheta pokazateley effektivnosti proekta vnedreniya instrumentov berezhlivogo proizvodstva [Methodology for calculating the efficiency indicators of the lean tools implementation project]. Izvestiya Tulskogo gosudarstvennogo universiteta. Ekonomicheskie i yuridicheskie nauki. (5-1). 253-266. (in Russian).
Smirnov V.A., Antonova I.I., Antonov S.A., Akhmadeeva G.Ch. (2011). Ustanovlenie pokazateley effektivnosti «berezhlivogo proizvodstva» [Establishment of performance indicators of "lean production"]. Current problems of economics and law. (3-19). 146-153. (in Russian).
Vumek Dzh.P., Dzhons D.T. (2005). Berezhlivoe proizvodstvo: Kak izbavitsya ot poter i dobitsya protsvetaniya vashey kompanii [Lean Manufacturing How to get rid of losses and achieve the prosperity of your company] M.: Alpina Biznes Buks. (in Russian).
Yach I., Sedlarzh Y., Zaytsev A.A., Zaytsev A.V. (2014). Upravlenie stoimostyu biznesa na osnove otsenki neidentifitsiruemyh nematerialnyh aktivov [Business value management based on the assessment of unidentifiable intangible assets]. Creative economy. (7(91)). 28-39. (in Russian).
Zaytsev A.A. (2016). Issledovanie razryva teorii i praktiki primeneniya innovatsionnyh upravlencheskikh kontseptsiy sovremennymi predpriyatiyami [Study of the discontinuity of the theory and practice of applying innovative management concepts by modern enterprises]. Issues of innovative economy. 6 (2). (in Russian).
Zaytsev A.V. (2015). Strategiya upravleniya innovatsionnymi izmeneniyami v period globalnoy transformatsii sistemy mirovogo khozyaystvovaniya [The strategy for managing the innovation changes in the period of global transformation of the world economy management]. Russian Entrepreneurship. 16 (1(271)). 75-86. (in Russian).
Голышева Н.И., Горохова А. Учет основных средств в 2017 годуИнформационно-правовой портал ГАРАНТ.РУ. (in Russian). Retrieved July 07, 2017, from http://www.garant.ru/article/1037957/
Налоговый кодекс Российской Федерации. Статья 254. Материальные расходыКонсультантПлюс. (in Russian). Retrieved July 07, 2017, from http://www.consultant.ru/document/cons_doc_LAW_28165/0644a51c8d171aad7127867a97d0749ec20be875/
Страница обновлена: 28.03.2025 в 13:09:32