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ID:10680913
大小:49.00 KB
页数:9页
时间:2018-07-07
《营运管理 外文翻译 外文文献 英文文献 对整个行业中营运资金管理的研究》由会员上传分享,免费在线阅读,更多相关内容在行业资料-天天文库。
1、AnAnalysisofWorkingCapitalManagementResultsAcrossIndustriesGregFilbeck.SchweserStudyProgramThomasM.Krueger.UniversityofWisconsin-LaCrosseAbstractFirmsareabletoreducefinancingcostsand/orincreasethefundsavailableforexpansionbyminimizingtheamountoffundstiedupincurrentassets.Wepro
2、videinsightsintotheperformanceofsurveyedfirmsacrosskeycomponentsofworkingcapitalmanagementbyusingtheCFOmagazine’sannualWorkingCapitalManagementSurvey.Wediscoverthatsignificantdifferencesexistbetweenindustriesinworkingcapitalmeasuresacrosstime.Inaddition.wediscoverthatthesemeas
3、uresforworkingcapitalchangesignificantlywithinindustriesacrosstime.IntroductionTheimportanceofefficientworkingcapitalmanagementisindisputable.Workingcapitalisthedifferencebetweenresourcesincashorreadilyconvertibleintocash(CurrentAssets)andorganizationalcommitmentsforwhichcashw
4、illsoonberequired(CurrentLiabilities).Theobjectiveofworkingcapitalmanagementistomaintaintheoptimumbalanceofeachoftheworkingcapitalcomponents.Businessviabilityreliesontheabilitytoeffectivelymanagereceivables.inventory.andpayables.Firmsareabletoreducefinancingcostsand/orincrease
5、thefundsavailableforexpansionbyminimizingtheamountoffundstiedupincurrentassets.Muchmanagerialeffortisexpendedinbringingnon-optimallevelsofcurrentassetsandliabilitiesbacktowardoptimallevels.Anoptimallevelwouldbeoneinwhichabalanceisachievedbetweenriskandefficiency.Arecentexample
6、ofbusinessattemptingtomaximizeworkingcapitalmanagementistherecurrentattentionbeinggiventotheapplicationofSixSigma®methodology.SixSigma®methodologieshelpcompaniesmeasureandensurequalityinallareasoftheenterprise.Whenusedtoidentifyandrectifydiscrepancies.inefficienciesanderroneou
7、stransactionsinthefinancialsupplychain.SixSigma®reducesDaysSalesOutstanding(DSO).acceleratesthepaymentcycle.improvescustomersatisfactionandreducesthenecessaryamountandcostofworkingcapitalneeds.Thereappeartobemanysuccessstories.includingJenniferTowne’s(2002)reportofa15percentde
8、creaseindaysthatsalesareoutstanding.resultinginanincreasedcas
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