财务管理外文文献.docx

Project Scheduling in the Financial Management of Supply
Chains(excerpts)
Author:Durukan Kalyoncu, Guldane Acceptance om cash outflow to cash inflow, it measures how long the firm needs outside financing. Thus many scholars (Farris and Hutchison (2002), Soenen (1993), Binti Mohamad and Binti Mohd Saad (2010)) stated that the shorter CCC the better the company finances are. However, there are some complications regarding the Cash Conversion Cycle metric approach in financial management of supply chains. Even though supply chain partners put considerable efforts to have control over the stream of cash inflow by managing payment terms, these cash inflows are mostly probabilistic due to unpredictable conditions of the downstream players. On the other hand cash outflows to the upper layers of the chain is deterministic; however this depends on the cash available at the time. Figure 2 depicts the adownstream " and " upstream ” supply chain partners.
Upstream Partners Downstream Partners Vendor Manufacturer Distributor Retailer Customer. Supply Chain Levels As seen from the Gupta and Dutta' s study (2011), the early payment of the
debts result in the lowest cash outflow at the current period, yet it does not necessarily result in the lowest present value of the cash outflow. Thus managing cash flows in an efficient way is not an easy task taking into account the probabilistic infl