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An introduction to financial tools and concepts from an operations perspective, addressing finance/operations trade-offs and explaining financial accounting, working capital, investment analysis, and more. Students and practitioners in engineering and related areas often lack the basic understanding of financial tools and concepts necessary for a career in operations or supply chain management. This book offers an introduction to finance fundamentals from an operations perspective, enabling operations and supply chain professionals to develop the skills necessary for interacting with finance people at a practical level and for making sound decisions when confronted by tradeoffs between operations and finance. Readers will learn about the essentials of financial statements, valuation tools, and managerial accounting. The book first discusses financial accounting, explaining how to create and interpret balance sheets, income statements, and cash flow statements, and introduces the idea of operating working capital—a key concept developed in subsequent chapters. The book then covers financial forecasting, addressing such topics as sustainable growth and the liquidity/profitability tradeoff; concepts in managerial accounting, including variable versus fixed costs, direct versus indirect costs, and contribution margin; tools for investment analysis, including net present value and internal rate of return; creation of value through operating working capital, inventory management, payables, receivables, and cash; and such strategic and tactical tradeoffs as offshoring versus local and centralizing versus decentralizing. The book can be used in undergraduate and graduate courses and as a reference for professionals. No previous knowledge of finance or accounting is required.
An introduction to financial tools and concepts from an operations perspective, addressing finance/operations trade-offs and explaining financial accounting, working capital, investment analysis, and more. Students and practitioners in engineering and related areas often lack the basic understanding of financial tools and concepts necessary for a career in operations or supply chain management. This book offers an introduction to finance fundamentals from an operations perspective, enabling operations and supply chain professionals to develop the skills necessary for interacting with finance people at a practical level and for making sound decisions when confronted by tradeoffs between operations and finance. Readers will learn about the essentials of financial statements, valuation tools, and managerial accounting. The book first discusses financial accounting, explaining how to create and interpret balance sheets, income statements, and cash flow statements, and introduces the idea of operating working capital—a key concept developed in subsequent chapters. The book then covers financial forecasting, addressing such topics as sustainable growth and the liquidity/profitability tradeoff; concepts in managerial accounting, including variable versus fixed costs, direct versus indirect costs, and contribution margin; tools for investment analysis, including net present value and internal rate of return; creation of value through operating working capital, inventory management, payables, receivables, and cash; and such strategic and tactical tradeoffs as offshoring versus local and centralizing versus decentralizing. The book can be used in undergraduate and graduate courses and as a reference for professionals. No previous knowledge of finance or accounting is required.
After reading this book, you will be able to answer the following questions: I. What is Operations and Supply Chain Management and why is it important? ii. What are the key functions within this field, and how do they interact with one another and the broader business? iii. What are the responsibilities and decisions that managers in each functional area think about? iv. How will disruptions in the Supply Chain impact the business world and our lives going forward? v. What are the practical applications of the knowledge gained around Supply Chain Operations? Have you ever wondered what your peers meant by “Supply Chain” or “Operations”, or why either of these fields matter? What about people that work in these roles – what do they actually do? In Operations and Supply Chain Management Essentials You Always Wanted to Know these questions will be answered, and more. This practical, yet simple, guide uses a hypothetical company and the consumer product they make, to explain how the various functions within the Supply Chain intertwine and contribute to bring a finished product to life for consumers in the market. You don’t need a management background to understand our story of how new demands, changing preferences, and unforeseen circumstances force this fictional company to adapt in order to survive. By posing questions that Supply Chain Operations Manager’s face, you will start to think like a Supply Chain Operations professional, whether it be in professional or personal applications. You may not be inspired to make a career shift into these areas or chat Supply Chain topics at the dinner table, however, you will gain an understanding and appreciation for how these activities make everyday products and services at our disposal – and why this is increasingly important for companies to pay attention to. About the Series The Self-Learning Management series is designed to help students, new managers, career switchers and entrepreneurs learn essential management lessons. This series is designed to address every aspect of business from HR to Finance to Marketing to Operations, be it any industry. Each book includes basic fundamentals, important concepts, standard and well-known principles as well as practical ways of application of the subject matter. The distinctiveness of the series lies in that all the relevant information is bundled in a compact form that is very easy to interpret.
Designed by practitioners for practitioners, Supply Chain Management and Logistics: Innovative Strategies and Practical Solutions provides a wide-spectrum resource on many different aspects involved in supply chain management, including contemporary applications. With contributions from leading experts from all over the world, the book includes innovative strategies and practical solutions that address problems encountered by enterprise in management of supply chain and logistics. It details general techniques and specific approaches to a broad range of important, inspiring, and unanswered questions in the field. The book is organized around four major research themes in supply chain management: 1) supply chain strategy and coordination, 2) supply chain network optimization, 3) inventory management in supply chain, and 4) financial decisions in supply chain. The sequence of these themes helps transition from an enterprise-wide framework to network design to operational management to financial aspects of the supply chain. Each individual theme also addresses the answer to a challenging question as to how to go about applying quantitative tools to real-life operations, resulting in practical solutions. As the world moves toward more competitive and open markets, effective supply chain management is of critical importance to the success or failure of an enterprise. Despite a large amount of research achieved in the past decades on the supply chain management topic, many researchers and practitioners are still devoting considerable efforts on the emerging new problems. Designed to give you a collection of topics that bridge the gap between the academic arena and industrial practice, the book supplies a contemporary and up-to-date review on the advanced theory, applications, and practices of supply chain management, making it a rich resource for the design, analysis, and implementation of supply chain management problems arising in a wide range of industries.
Discover how your supply chain and operations work impacts financial performance, and how to align your efforts to help your company succeed — the fastest, best way to supercharge your own career! As a supply chain or operations professional, you may clearly understand your operational performance goals. But if you want to get promoted, you need to know how your day-to-day work powerfully impacts the financial metrics your top executives care about most.
Readers will gain the financial perspective of their primary responsibilities of effectively managing working capital and inventory investments, evaluating and selecting suppliers, developing supplier performance capabilities, managing costs across the supply chain, and sourcing internationally. Designed for self-learning, training, and course instruction, this book shows readers how to apply financial thinking, concepts, tools, and approaches to their SCM activities to better understand and manage them, as well as the way in which to present the impact of their performance results in financial terms that corporate executives and finance professionals understand and care most about. It bridges the gap between theory and application, and the divide between SCM and finance to meet the next level of demands of the global marketplace for improved performance and competitive advantage. --
Fierce competition, globalisation and the permanent liberalisation of markets have changed the face of supply chains and operations drastically. Companies, which want to survive in a hostile environment, must establish the optimum combination of supply and operations. This book provides a holistic and practical approach to operations management 4.0 and supply management 4.0. It combines operations and supply best practices across the value chain. It explains comprehensively, how these new paradigms enable companies to concentrate on value-adding activities and processes to achieve a long-term sustainable and competitive advantage. The book contains a variety of best practices, industry examples and case studies. Focusing on best-in-class examples, the book offers the ideal guide for any enterprise in operations and supply in order to achieve a competitive advantage across all business functions focusing on value-adding activities.
The vast majority of international trade is supported by some form of trade financing: a specialized, sometimes complex form of financing that is poorly understood even by bankers and seasoned finance and treasury experts. Financing Trade and International Supply Chains takes the mystery out of trade and supply chain finance, providing a practical, straightforward overview of a discipline that is fundamental to the successful conduct of trade: trade that contributes to the creation of economic value, poverty reduction and international development, while increasing prosperity across the globe. The book suggests that every trade or supply chain finance solution, no matter how elaborate, addresses some combination of four elements: facilitation of secure and timely payment, effective mitigation of risk, provision of financing and liquidity, and facilitation of transactional and financial information flow. The book includes observations on the effective use of traditional mechanisms such as Documentary Letters of Credit, as well as an overview of emerging supply chain finance solutions and programs, critical to the financing of strategic suppliers and other members of complex supply chain ecosystems. The important role of export credit agencies and international financial institutions is explored, and innovations such as the Bank Payment Obligation are addressed in detail. Financing Trade and International Supply Chains is a valuable resource for practitioners, business executives, entrepreneurs and others involved in international commerce and trade. This book balances concept with practical insight, and can help protect the financial interests of companies pursuing opportunity in international markets.
The book is conceived with a view to give basic concepts and provide practical approach in easy and comprehensible manner for decision making. Few of the Interesting things to learn is building resilient supply chain by concept called SHABD and can be practically implemented by using DIGROM approach. Also, by considering MARGS factor the disruptions in the overall supply chain can be minimized. Easy to remember the key aspects through AUTHOR TIPS is good for recalling the theories for on job implementation or decision making. Primary aim is to benefit existing Logistics and Supply chain professionals but its beneficial for student pursuing Certificate and Diploma courses on the subject to peek insight on practical methods before they enter in professional world. It will be useful to train managers who are NOT involved in Supply Chain and Logistics activity for quick insights and better understanding on the subject matter.
Supply Chain Finance is a contributed book looking at the two major perspectives of managing finance across the supply chain. The first is more short-term, focused on accounts payables and receivables. The second is a more overarching perspective, focused on working capital optimization in terms of inventory and asset management. It includes chapters from a variety of research perspectives, as well as from business and policymakers. The authors look at the benefits of the supply chain finance approach including reduction of working capital, access to more funding at lower costs, risk reduction, as well as an increase of trust, commitment, and profitability through the chain. Supply Chain Finance includes theory as well as practical case studies addressing advances in the area of supply chain finance. The editors and contributors look at how to design and implement supply chain finance in supply chains and examine what the future holds for this important area. Online supporting resources include self-test multiple-choice and essay questions for each chapter.