Business programme

Managing Hidden Reserves: Increasing Business Stability at a Time of Import Substitution

17 Jun , 17:00–18:15
The Russian Economy: New Objectives and Horizons

The imbalance on the domestic and foreign markets forces enterprises to alter their technological processes, change supply chains, search for new suppliers, and look for opportunities to increase output given the fast tracking of import substitution. The changes in external conditions that have taken place are above all increasing the cost of risk management and the introduction of new solutions. In particular, each individual enterprise faces a wide range of problems that it cannot solve alone. A systemic problem requires a systematic approach. Multilateral support is needed for the entire chain of suppliers involved in the manufacturing process of an enterprise’s product: raw materials, packaging, components, and so on. If one looks at the output of a final product as a set of processes by the companies involved in its production, the elimination of bottlenecks in each process will help to achieve a cumulative synergistic effect for the entire chain as a whole. Where can Russian enterprises find additional opportunities to maintain their economic efficiency? How can hidden reserves be managed without attracting additional funding? What economic effect could the management of hidden reserves produce? What effect might such an approach have on the entire chain of suppliers of a particular product?