METHODOLOGICAL ASPECTS OF ANALYZING AND OPTIMIZING THE PROCESSES OF INNOVATIVE RENEWAL OF ENTERPRISES' FIXED ASSETS

Purpose. Renewal of fixed assets is the most important factor in ensuring sustainable development and competitiveness of enterprises. The process of updating fixed assets is a fundamental aspect of investment activity, directly affecting production efficiency and long-term growth. The purpose of this study is to develop and analyze a mathematical model that describes the dynamics of equipment replacement, taking into account the growth rates of the cost of fixed assets, their return on investment and service life. The study tests the hypothesis that optimizing the processes of updating fixed assets increases the efficiency of production systems by increasing their productivity and promoting sustainable technical development. Design / methodology / approach. The study uses a quantitative and analytical approach using economic and mathematical modeling to describe the process of updating fixed assets. A structured scheme of the dynamics of equipment renewal is proposed, which allows assessing changes in the age structure and proportions of fixed assets over time. In addition, an optimization approach has been developed that takes into account an indicator that quantifies the change in return on investment during the technical update of fixed assets. Using balance sheet calculations, the study models investment scenarios and assesses the impact of different renewal strategies on production growth. Findings. The analysis revealed the main patterns of fixed asset renewal and their impact on production efficiency. In particular, it was demonstrated that the total cost of fixed assets has a consistent growth trajectory over time. Equipment renewal also affects the age structure of fixed assets, affecting overall production efficiency. The coefficient that takes into account the return on assets is a key indicator that shows that when the return on assets of new equipment exceeds the return on assets of existing equipment, the growth rate of production outpaces the growth rate of fixed assets. Conversely, when the return on assets decreases, production growth lags behind the growth of fixed assets.The study illustrates how the choice of renewal strategy, investment intensity, and technological quality of new equipment together determine the overall efficiency of fixed asset replacement programs. Practical implications. The proposed model and optimization approach provide enterprises with valuable tools for strategic investment planning and fixed assets management. In particular, taking into account the resource innovation coefficient, enterprises can make more informed decisions on the timing and scale of equipment renewal. The results obtained can be used to optimize investment trategies in order to achieve higher production efficiency. The model can be applied to various industries where capital-intensive production requires constant updating of equipment and technological progress. Originality / value. This study contributes to the field of innovative renewal of fixed assets by introducing a new mathematical model for analyzing and optimizing this process. The inclusion of the resource innovation coefficient offers a new approach to measuring the impact of innovations on production efficiency. The results of the study create a theoretical basis for future research on investment decision-making and serve as a practical guide for enterprises seeking to improve the efficiency of their activities through optimal strategies for updating the technical base.