Issue: №10, 2019
Introduction. In production, working capital plays an invariable role as one of the most important factors significantly influencing the production cost, the final results of the economic entities efficiency, and which ultimately reflects on the competitiveness of the enterprise. Purpose. The purpose of the study is to evaluate the current state of securing and efficient use of working capital at the enterprise and its impact on the competitiveness of the enterprise. Results. Working capital is the amount of money invested into the circulation funds to ensure the continuity of the production process, product sales and profit. In improving the use of working capital, the ratio between circulation funds and working capital plays an important role. Increasing this ratio is the factor that allows to increase the production volumes. The scientific novelty is that in the course of the study the classification of variants of structural changes in the duration of the full circulation of working capital was clarified and measures aimed at increasing their effective use were developed, which would help to increase the competitiveness of the enterprise. Conclusion. Reducing the circulation time of current assets and achieving the optimum correlation between production time and turnover at the enterprise level leads to their efficient use and creates objective preconditions for solving at least three important problems. First, the continuity of production processes is ensured without involving significant additional investments from external sources - from various credit institutions - in the sphere of production, which will help to increase the financial stability and competitiveness of the enterprise. Secondly, more favorable conditions are created for achieving high economic results of investment and innovation activity, which will help the enterprise to achieve high competitive advantages. Thirdly, part of the funds employed in the sphere of circulation is released, and due to their redistribution into the sphere of production, additional sources of investment are formed, which will help to increase the competitiveness of the enterprise. References 1. Noha D.H. A rotation of circulating assets of agrarian enterprises and efficiency of their use are in the modern terms of menage. Productivity of agroindustrial production. Economic sciences. Kyiv, 2013. Vol. 23. pp. 103-107. (in Ukrainian) 2. Shvydka O.P. A role of working capital is in providing of profitability of enterprise. Bulletin of Kryvyi Rih Economic Institute. Kryvyy Rih, 2013. № 2. pp. 39-43. (in Ukrainian) 3. Kovalenko O.V., Otechko Yu.S. Increase of efficiency of formation and use of working capital of the enterprise. Money, finance and credit. 2016. Vol. 1. pp. 133-139. (in Ukrainian) 4. Bahatska K.V., Hovorushko T.A., Sheremet O.O. Financial analysis: a textbook. Kyiv: NUKHT, 2014. 320 p. (in Ukrainian) 5. Batrakova T.I., Bondar V.V. Directions to increase the efficiency of using working capital of the enterprise. Scientific Bulletin of Kherson State University. Economic sciences. Kherson, 2015. Vol. 15(5). pp. 57-60. (in Ukrainian)
Keywords : current assets, turnover time, current assets turnover, competitiveness of the enterprise