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DOI: 10.15862/10ECOR424 (https://doi.org/10.15862/10ECOR424)

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Korneva G.V., Makhinenko A.P. Modern issues of food industry economics. Russian journal of resources, conservation and recycling. 2024; 11(4). Available at: https://resources.today/PDF/10ECOR424.pdf (in Russian). DOI: 10.15862/10ECOR424

Modern issues of food industry economics

Korneva Galina Viktorovna
Moscow State University of Technology and Management named after K.G. Razumovsky (First Cossack University),
Moscow, Russia
E-mail: g.korneva@mgutm.ru

Makhinenko Anton Pavlovich
Moscow State University of Technology and Management named after K.G. Razumovsky (First Cossack University),
Moscow, Russia
E-mail: Amahinenko@yandex.ru

Abstract. The study devoted to the specific features of the economy of food industry enterprises reveals unique aspects that affect their financial activities. The food industry, like other industries, is characterized by specific features that determine its economic dynamics. One of the key features is high raw material dependence, which requires enterprises to constantly provide high-quality raw materials. This leads to an increase in purchasing costs and an increase in the need for working capital, which, in turn, affects the financial stability of companies. Competition in the food industry is quite intense, which encourages enterprises to optimize costs and improve product quality. To achieve a competitive advantage, companies introduce new technologies, which require additional investment, but in the long term can reduce the cost of production. Seasonality of production and dependence on the trade and distribution network also play a significant role. Since products are often perishable, enterprises are forced to develop their own trade and transport networks, which increases investment costs, but allows for more efficient logistics management and reduces costs. Financial management in the food industry should take into account the need for systematic sanitary control, which increases costs, but improves product quality and demand for it. In addition, training and retraining of personnel to work on complex technological equipment also requires significant resources, but in the long term contributes to increased productivity and product quality. Thus, financial management in the food industry requires taking into account many factors, including raw material dependence, competition, seasonality and the need for infrastructure development. Effective management of these aspects can lead to lower costs and increased sales volumes, which is a key success factor in this industry.

Keywords: food industry; raw material dependence; financial stability; competition; cost optimization; technology; financial management; current assets

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