TECHNOLOGICAL INNOVATION – AN EFFECTIVE WAY TO REDUCE OPERATING COSTS OF PRODUCTION (FOR EXAMPLE, THE STEEL INDUSTRY )

Abstract

Fundamental factor in the value of the business is the quality of processes that determine the rhythm and profitability of the enterprise, the structure of production costs and the ability to consistently produce products with specified consumer properties.High process efficiency is achieved by continuous use of innovative technical and technological solutions aimed at developing a competitive advantage and increase revenue on this basis.

In a modern market economy enterprise management environment should be the economic environment. This is due to the fact that the organization and the enterprise is an economic category, implementing activities related to the increase in the volume of production and sales, increased productivity and technological complexes income (net income, depreciation and amortization of tangible and intangible assets), increasing the value of the property complex and business in general.

The article discusses the possibility of reducing operating costs in the production of metal for pipes by optimizing the composition of steel grade X70 , while ensuring the specified performance.