Forecasting economic efficiency: development by PSU graduate student will help food industry enterprises

January 23, Vitebsk . Postgraduate student of Polotsk State University named after Euphrosyne of Polotsk (PSU) Sergei Nikiforov developed a set of indicators that help plan production and predict economic returns at MEAT and processing enterprises, for which he received a scholarship from the President of Belarus. The scientist told a BELTA correspondent where the interest in this topic came from and who would benefit from such a complex.

 
Sergei Nikiforov received unexpected recognition for his development of complex indicators for determining and forecasting the economic efficiency of the production of meat and dairy products based on an assessment of the consumer cost of basic raw materials. The graduate student has extensive experience working at meat-packing industry enterprises; he started as a loader at a meat-packing plant, was an auditor, and headed departments. He worked in this system for 14 years, when he was offered to enter the master's program, and then graduate school. In his work, the current presidential fellow often faced the need to make adjustments to daily and monthly production plans. “Depending on the incoming raw materials, the enterprises made additions to the planned production schedule. If there were more raw materials, then the question arose of what to produce from it in order to sell it most profitably. Experienced workers already knew how to adjust plans, but young employees need to work for this several years to understand such a strategy. In my scientific work, I propose a set of indicators that can be used to guide plans and forecasts for the future, and I take as a basis the price of the final product. For example, how much sour cream or cheese curds can be obtained from one liter of MILK, or from one kilogram of meat - sausage and other products, and most importantly - how much it will cost, what is more economically efficient to produce so that the consumer buys it. And I want to offer a set of indicators, thanks to which both adjustments to plans will be accepted much faster, and interaction between various departments, for example, production and sales,” said Sergei Nikiforov.

The graduate student noted that this scheme can be used at any food industry enterprise that is dependent on the supply of raw materials and the production of the final product. The developed complex presents various coefficients that allow you to vary product manufacturing schedules to suit the specifics of a particular company and make more accurate analyzes and long-term forecasts based on them.
In the near future, Sergei Nikiforov will be engaged in the production of meat delicacies for animals, and this complex will be implemented first in his small enterprise. “This is a tool for a young employee who can calculate both the volume of products produced and the economic effect of its sale,” emphasized the PSU graduate student.

Photo by Alexander Khitrov