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Recebimento Estocagem Aplicação

2EVHUYD¾×HV
$TXDQWLGDGHUHFHELGDIRLYHULILFDGDSRUPHLRGHFRQWDJHPGRVURORVGHPDWHULDO FDGDXPFRPP
GHILR TXHFKHJDUDPºREUD$TXDQWLGDGHHPFDGDURORQ¼RIRLYHULILFDGDGDGRRWUDEDOKRQHFHVV·ULR
GHPDQGDQGRKRPHQVHWHPSRFRQVLGHU·YHLV HRIDWRGHKDYHUSRXFRHVSD¾RGLVSRQÇYHOSDUDTXHRV
ILRVSXGHVVHPVHUHVWLFDGRVDOÂPGDVLPSUHFLV×HVGRSUÐSULRSURFHVVR$OÂPGLVVRFDEHUHVVDOWDUTXH
RVURORVHUDPODFUDGRVRTXHWRUQDHVWDYHULILFD¾¼RXPWDQWRGLVSHQV·YHO
2VILRVGHPP IRUDP PHGLGRV HP REUD SRLV Q¼R VH HQFRQWUDYDP LQLFLDOPHQWH HP SURMHWR &RP
LVWRDXPHQWDDSRVVLELOLGDGHGHHUURVQDTXDQWLILFD¾¼R
1RWHVHTXHRVURORVHUDPGLUHWDPHQWHOHYDGRVSDUDRVORFDLVGHXVRVHPSUÂFRUWHVHFRPSRVL¾¼RGH
kNLWVy
'HYHVHUPHQFLRQDGDDSRVVLELOLGDGHGHSHUGDGHYLGRDkVREUDyQDVSRQWDVVREUHWXGRWHQGRHPYLVWD
TXHLVWRQ¼RIRLFRQVLGHUDGRQDTXDQWLILFD¾¼RGRWRWDOGHPDWHULDOWHRULFDPHQWHQHFHVV·ULR1RHQWDQWR
Q¼RIRUDPIHLWDVYHULILFD¾×HVTXHSHUPLWLVVHPFRQFOXLUD SRUFHQWDJHP TXH LVWR UHSUHVHQWD DWUDYÂV GH
HVWLPDWLYDVFKHJRXVHDSHQDVDXPQàPHURHPWRUQRGH
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GHFDQWHLURGHQWURGDREUD HPIRUQHFLPHQWRGHHQHUJLD HHPRXWURVXVRVQ¼RGHYLGRV$OÂPGLVVR
HYHQWXDOH[WUDYLRSRGHWHUDFRQWHFLGR

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Recebimento Estocagem Aplicação

2EVHUYD¾×HV
$TXDQWLGDGHUHFHELGDIRLYHULILFDGDSRUPHLRGHFRQWDJHPGRVURORVGHPDWHULDO FDGDXPFRPP
GHILR TXHFKHJDUDPºREUD$TXDQWLGDGHHPFDGDURORQ¼RIRLYHULILFDGDGDGRRWUDEDOKRQHFHVV·ULR
GHPDQGDQGRKRPHQVHWHPSRFRQVLGHU·YHLV HRIDWRGHKDYHUSRXFRHVSD¾RGLVSRQÇYHOSDUDTXHRV
ILRVSXGHVVHPVHUHVWLFDGRVDOÂPGDVLPSUHFLV×HVGRSUÐSULRSURFHVVR$OÂPGLVVRFDEHUHVVDOWDUTXH
RVURORVHUDPODFUDGRVRTXHWRUQDHVWDYHULILFD¾¼RXPWDQWRGLVSHQV·YHO
3DUDDTXDQWLILFD¾¼RGRVILRVHPSUHJDGRV FRPH[FH¾¼RGRGHPP IRLVHJXLGRRPHVPRPÂWRGR
PHQFLRQDGRSDUDD TXDQWLILFD¾¼R GRV HOHWURGXWRV YHU DQ·OLVHGH HOHWURGXWRV GH  HPP  &RPR
FRQVHTâÃQFLD H[LVWHP DV PHVPDV SRVVLELOLGDGHV GH HUUR FRP D GLIHUHQ¾D GH TXH QHVWH FDVR  PDLV
GLIÇFLO GHWHFWDU HYHQWXDLV DOWHUD¾×HV GH SURMHWR 'HVVD IRUPDQHVWD TXDQWLILFD¾¼R IRL QHFHVV·ULR FRQILDU
Y·ULDVYH]HVQDVLQIRUPD¾×HVIRUQHFLGDVSHORHQFDUUHJDGRTXDQWRDHVWHDVSHFWR
$VVLPFRPRQRVGHPDLVFDVRVGHFRQGXWRUHVGHYHVHUPHQFLRQDGDDSRVVLELOLGDGHGHSHUGDGHYLGRD
kVREUDyQDVSRQWDVVREUHWXGRWHQGRHPYLVWDTXHLVWRQ¼RIRLFRQVLGHUDGRQDTXDQWLILFD¾¼RGRWRWDOGH
PDWHULDOWHRULFDPHQWHQHFHVV·ULR1RHQWDQWRQ¼RIRUDPIHLWDVYHULILFD¾×HVTXHSHUPLWLVVHPFRQFOXLUD
SRUFHQWDJHPTXHLVWRUHSUHVHQWDDWUDYÂVGHHVWLPDWLYDVFKHJRXVHDSHQDVDXPQàPHURHPWRUQRGH

1HVWH FDVR HP SDUWLFXODU GHYH DLQGD VHU UHVVDOWDGR TXH VHJXQGR LQIRUPDGR SHOR HQFDUUHJDGR DR
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WHPSRUDULDPHQWH WHULDP VLGR HPSUHJDGRV ILRV GH PP HP VXEVWLWXL¾¼R DRV GH PP HP
TXDQWLGDGHV Q¼RGHWHUPLQDGDV ,VWR LQGLFD TXH SRVVLYHOPHQWH D SHUGD GHVWH PDWHULDO IRL DLQGD PDLRU
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Recebimento Estocagem Aplicação

2EVHUYD¾×HV
$TXDQWLGDGHUHFHELGDIRLYHULILFDGDSRUPHLRGHFRQWDJHPGRVURORVGHPDWHULDO FDGDXPFRPP
GHILR TXHFKHJDUDPºREUD$TXDQWLGDGHHPFDGDURORQ¼RIRLYHULILFDGDGDGRRWUDEDOKRQHFHVV·ULR
GHPDQGDQGRKRPHQVHWHPSRFRQVLGHU·YHLV HRIDWRGHKDYHUSRXFRHVSD¾RGLVSRQÇYHOSDUDTXHRV
ILRVSXGHVVHPVHUHVWLFDGRVDOÂPGDVLPSUHFLV×HVGRSUÐSULRSURFHVVR$OÂPGLVVRFDEHUHVVDOWDUTXH
RVURORVHUDPODFUDGRVRTXHWRUQDHVWDYHULILFD¾¼RXPWDQWRGLVSHQV·YHO
3DUDDTXDQWLILFD¾¼RGRVILRVHPSUHJDGRV FRPH[FH¾¼RGRGHPP IRLVHJXLGRRPHVPRPÂWRGR
PHQFLRQDGRSDUDD TXDQWLILFD¾¼R GRV HOHWURGXWRV YHU DQ·OLVHGH HOHWURGXWRV GH  HPP  &RPR
FRQVHTâÃQFLDWDPEÂPH[LVWHPSRVVLELOLGDGHVGHHUURFRPDGLIHUHQ¾DGHTXHQHVWHFDVRÂPDLVGLIÇFLO
GHWHFWDU HYHQWXDLV DOWHUD¾×HV GH SURMHWR 'HVVD IRUPD QHVWD TXDQWLILFD¾¼R IRL QHFHVV·ULR FRQILDU
WRWDOPHQWHQDVLQIRUPD¾×HVIRUQHFLGDVSHORHQFDUUHJDGRTXDQWRDHVWHDVSHFWR
7DPEÂPFDEHUHVVDOWDUTXHDLPSUHFLV¼RGHPHQVXUD¾¼RÂPDLRUQHVWHFDVRM·TXHRILRGHPPHUD
PXLWR SRXFR XVDGR GHQWUR GRV DSDUWDPHQWRV ORFDO GH PDLRU FRQILDELOLGDGH QRV OHYDQWDPHQWRV GH
TXDQWLGDGHV 
$VVLPFRPRQRVGHPDLVFDVRVGHFRQGXWRUHVGHYHVHUPHQFLRQDGDDSRVVLELOLGDGHGHSHUGDGHYLGRD
kVREUDyQDVSRQWDVVREUHWXGRWHQGRHPYLVWDTXHLVWRQ¼RIRLFRQVLGHUDGRQDTXDQWLILFD¾¼RGRWRWDOGH
PDWHULDOWHRULFDPHQWHQHFHVV·ULR1RHQWDQWRQ¼RIRUDPIHLWDVYHULILFD¾×HVTXHSHUPLWLVVHPFRQFOXLUD
SRUFHQWDJHPTXHLVWRUHSUHVHQWDXPDHVWLPDWLYDDQ·ORJDºIHLWDSDUDRVILRVGHHPPOHYDULDD
QàPHURVPHQRUHVHPIXQ¾¼RGHWHUVHPHQRVkSRQWRVySRUPHWUROLQHDUGHILR

9ROXPHFRQGXWRUHVBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBB 
3HVTXLVD),1(3k$OWHUQDWLYDVSDUDDUHGX¾¼RGRGHVSHUGÇFLRGHPDWHULDLVQRVFDQWHLURVGHREUDVy
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1HVWH FDVR HP SDUWLFXODU GHYH DLQGD VHU UHVVDOWDGR TXH VHJXQGR LQIRUPDGR SHOR HQFDUUHJDGR DR
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HPVXEVWLWXL¾¼RDHVWHVHPTXDQWLGDGHVQ¼RGHWHUPLQDGDV,VWRLQGLFDTXHSRVVLYHOPHQWHDSHUGDGHVWH
PDWHULDO IRL DLQGD PHQRU SRLV GR UHVXOWDGR JOREDO REWLGR XPD SDUFHOD DSHQDV HQFREULX D SHUGD GRV
FRQGXWRUHVGHPP

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3HVTXLVD),1(3k$OWHUQDWLYDVSDUDDUHGX¾¼RGRGHVSHUGÇFLRGHPDWHULDLVQRVFDQWHLURVGHREUDVy
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Recebimento Estocagem Aplicação

2EVHUYD¾×HV
$TXDQWLGDGHUHFHELGDIRLYHULILFDGDSRUPHLRGHFRQWDJHPGRVURORVGHPDWHULDO FDGDXPFRPP
GHILR TXHFKHJDUDPºREUD$TXDQWLGDGHHPFDGDURORQ¼RIRLYHULILFDGDGDGRRWUDEDOKRQHFHVV·ULR
GHPDQGDQGRKRPHQVHWHPSRFRQVLGHU·YHLV HRIDWRGHKDYHUSRXFRHVSD¾RGLVSRQÇYHOSDUDTXHRV
ILRVSXGHVVHPVHUHVWLFDGRVDOÂPGDVLPSUHFLV×HVGRSUÐSULRSURFHVVR$OÂPGLVVRFDEHUHVVDOWDUTXH
RVURORVHUDPODFUDGRVRTXHWRUQDHVWDYHULILFD¾¼RXPWDQWRGLVSHQV·YHO
1R FDVR SDUWLFXODU GRV ILRV GH PP D SHUGD FDOFXODGD IRL SUDWLFDPHQWH GHVSUH]ÇYHO &RQFOXLXVH QR
HQWDQWRTXHRUHVXOWDGRREWLGRGHYHVHUGHVSUH]DGRWHQGRHPYLVWDTXHDDPRVWUDHVWXGDGDIRLPXLWR
SHTXHQD 'H IDWR P GH ILR WHULDP VLGR QHFHVV·ULRV HQTXDQWR P WHULDP VLGR XWLOL]DGRV
(YLGHQWHPHQWHDGLIHUHQ¾D Â EHP PHQRU TXH DVSUÐSULDV LPSUHFLV×HV GD DQ·OLVH SRUH[HPSOR DR VH
TXDQWLILFDURVHVWRTXHV

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3HVTXLVD),1(3k$OWHUQDWLYDVSDUDDUHGX¾¼RGRGHVSHUGÇFLRGHPDWHULDLVQRVFDQWHLURVGHREUDVy
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Recebimento Estocagem Aplicação

2EVHUYD¾×HV
'XUDQWH R UHFHELPHQWR GR PDWHULDO IRUDP FRQIHULGDV DV TXDQWLGDGHV HQWUHJXHV GH IRUPD TXH Q¼R
KRXYHGLIHUHQ¾DVHQWUH DV TXDQWLGDGHVSDJDV H UHFHELGDV SRUWDQWR D HWDSD GR UHFHELPHQWR SRGHVHU
HOLPLQDGD GR IOX[RJUDPD FRPR IRQWH GH SHUGDV  D Q¼R VHU TXH D TXDQWLGDGH HVSHFLILFDGD QD
HPEDODJHPGRPDWHULDOQ¼RFRUUHVSRQGHVVHºUHDOPDVHVWDYHULILFD¾¼RQ¼RIRLUHDOL]DGD 
&DEHOHPEUDUTXHDTXDQWLILFD¾¼RWHÐULFDGHPDWHULDOQHFHVV·ULRDRVHUYL¾RGHHQILD¾¼RIRLUHDOL]DGDHP
FLPDGRSURMHWRGHHOÂWULFDFRPFULWÂULRVTXHDOWHUDPDTXDQWLGDGHUHDOPHQWHQHFHVV·ULD PHGLXVHHP
OLQKDUHWDGHSRQWRDSRQWRRTXHQ¼RFRUUHVSRQGHºUHDOLGDGHXPDYH]TXHRVHOHWURGXWRVSRVVXHP
XPDFXUYDWXUDVLJQLILFDWLYD 
)LQDOPHQWH SRGHVH PHQFLRQDU TXH H[LVWH XPD IUD¾¼R GD TXDQWLGDGH QHFHVV·ULD TXH Q¼R IRL
TXDQWLILFDGDTXHV¼RDVSRQWDVGRVFRQGXWRUHVQDVFDL[DVGHOX]RTXHVHOHYDGRHPFRQWDUHGX]D
SHUGDJOREDO
)D]HQGRVH XPD HVWLPDWLYD GR TXH UHSUHVHQWDP DV FXUYDWXUDV H DV SRQWDV GH ILRV QDV FDL[DV GH OX]
FKHJDVHDRVVHJXLQWHVYDORUHV
&XUYDWXUD GHFRQVXPRDGLFLRQDOºOLQKDUHWDFRQVLGHUDGD
3RQWDVGHILRVQRVSRQWRVGHOX] GRWRWDOXWLOL]DGRGHILRV
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3RGHVH FUHGLWDU XPD SDUWH GR FRQVXPR YHULILFDGR ºV H[WHQV×HV SURYLVÐULDV  kJDPELDUUDVy  SDUD D
H[HFX¾¼RGDSUÐSULDREUD

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3HVTXLVD),1(3k$OWHUQDWLYDVSDUDDUHGX¾¼RGRGHVSHUGÇFLRGHPDWHULDLVQRVFDQWHLURVGHREUDVy
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

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ILRVSRQWR[ SRQWDV
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ILRILR
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Recebimento Estocagem Aplicação

2EVHUYD¾×HV
'XUDQWH R UHFHELPHQWR GR PDWHULDO IRUDP FRQIHULGDV DV TXDQWLGDGHV HQWUHJXHV GH IRUPD TXH Q¼R
KRXYHGLIHUHQ¾DVHQWUH DV TXDQWLGDGHVSDJDV H UHFHELGDV SRUWDQWR D HWDSD GR UHFHELPHQWR SRGHVHU
HOLPLQDGD GR IOX[RJUDPD FRPR IRQWH GH SHUGDV  D Q¼R VHU TXH D TXDQWLGDGH HVSHFLILFDGD QD
HPEDODJHPGRPDWHULDOQ¼RFRUUHVSRQGHVVHºUHDOPDVHVWDYHULILFD¾¼RQ¼RIRLUHDOL]DGD 
&DEHOHPEUDUTXHDTXDQWLILFD¾¼RWHÐULFDGHPDWHULDOQHFHVV·ULRDRVHUYL¾RGHHQILD¾¼RIRLUHDOL]DGDHP
FLPDGRSURMHWRGHHOÂWULFDFRPFULWÂULRVTXHDOWHUDPDTXDQWLGDGHUHDOPHQWHQHFHVV·ULD PHGLXVHHP
OLQKDUHWDGHSRQWRDSRQWRRTXHQ¼RFRUUHVSRQGHºUHDOLGDGHXPDYH]TXHRVHOHWURGXWRVSRVVXHP
XPDFXUYDWXUDVLJQLILFDWLYD 
)LQDOPHQWH SRGHVH PHQFLRQDU TXH H[LVWH XPD IUD¾¼R GD TXDQWLGDGH QHFHVV·ULD TXH Q¼R IRL
TXDQWLILFDGDTXHV¼RDVSRQWDVGRVFRQGXWRUHVQDVFDL[DVGHOX]RTXHVHOHYDGRHPFRQWDUHGX]D
SHUGDJOREDO
)D]HQGRVH XPD HVWLPDWLYD GR TXH UHSUHVHQWDP DV FXUYDWXUDV H DV SRQWDV GH ILRV QDV FDL[DV GH OX]
FKHJDVHDRVVHJXLQWHVYDORUHV
&XUYDWXUD GHFRQVXPRDGLFLRQDOºOLQKDUHWDFRQVLGHUDGD
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