營(yíng)運(yùn)管理外文翻譯----對(duì)整個(gè)行業(yè)中營(yíng)運(yùn)資金管理的研究-其他專(zhuān)業(yè)-在線(xiàn)瀏覽
2025-03-24 02:35本頁(yè)面
【正文】 following section presents a brief literature review. Next. the research method is described. including some information about the annual Working Capital Management Survey published by CFO magazine. Findings are then presented and conclusions are drawn. Related Literature The importance of working capital management is not new to the finance literature. Over twenty years ago. Largay and Stickney (1980) reported that the thenrecent bankruptcy of . Grant. a nationwide chain of department stores. should have been anticipated because the corporation had been running a deficit cash flow from operations for eight of the last ten years of its corporate life. As part of a study of the Fortune 500’s financial management practices. Gilbert and Reichert (1995) find that accounts receivable management models are used in 59 percent of these firms to improve working capital projects. while inventory management models were used in 60 percent of the panies. More recently. Farragher. Kleiman and Sahu (1999) find that 55 percent of firms in the Samp。 finds that it is really a “get rich slow” technique with a rate of return hovering in the – percent range. 1 Even in a business using Six Sigma174。 methodologies help panies measure and ensure quality in all areas of the enterprise. When used to identify and rectify discrepancies. inefficiencies and erroneous transactions in the financial supply chain. Six Sigma174。 An Analysis of Working Capital Management Results Across Industries Greg Filbeck. Schweser Study Program Thomas M. Krueger. University of WisconsinLa Crosse Abstract Firms are able to reduce financing costs and/or increase the funds available for expansion by minimizing the amount of funds tied up in current assets. We provide insights into the performance of surveyed firms across key ponents of working capital management by using the CFO magazine’s annual Working Capital Management Survey. We discover that significant differences exist between industries in working capital measures across time. In addition. we discover that these measures for working capital change significantly within industries across time. Introduction The importance of efficient working capital management is indisputable. Working capital is the difference between resources in cash or readily convertible into cash (Current Assets) and anizational mitments for which cash will soon be required (Current Liabilities). The objective of working capital management is to maintain the optimum balance of each of the working capital ponents. Business viability relies on the ability to effectively manage receivables. inventory. and payables. Firms are able to reduce financing costs and/or increase the funds available for expansion by minimizing the amount of funds tied up in current assets. Much managerial effort is expended in bringing nonoptimal levels of current assets and liabilities back toward optimal levels. An optimal level would be one in which a balance is achieved between risk and efficiency. A recent example of business attempting to maximize working capital management is the recurrent attention being given to the application of Six Sigma174。 methodology. Six Sigma174。 reduces Days Sales Outstanding (DSO). accelerates the payment cycle. improves customer satisfaction and reduces the necessary amount and cost of working capital needs. There appear to be many success stories. including Jennifer Towne’s (2021) report of a 15 percent decrease in days that sales
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