Auswirkungen von Maßnahmen zur Bestandsoptimierung entlang der Wertschöpfungskette in der Produktion auf das Working Capital

Abstract

Working capital management is extremely important for companies, especially in challenging economic times. It aims to utilize tied-up liquidity reserves, strengthen internal financing power and reduce dependence on external capital providers. Effective working capital management is particularly important for manufacturing companies that have to provide high capital inputs and should be seen as a key management task. The fact that companies should exploit the long-term potential of effective working capital management for financial strength and company value enhancement raises the central question of how measures for inventory optimization along the value chain in production affect working capital. The aim of this thesis is to develop concrete recommendations for improving the financial health and value enhancement of manufacturing companies through optimized working capital management. A literature review is used to define the necessary terms in order to create a basis for the optimization approaches. In this context, suitable key performance indicators are also identified in order to monitor the value drivers of working capital and measure the effectiveness of measures. The cash-effective, balance sheet-effective and profit-effective effects resulting from the inventory optimization measures are analyzed. The thesis also examines how effective working capital management can promote an increase in company value and how this potential can be measured. Working capital refers to the amount of capital that is required in the short term to finance the current assets of a production company and is therefore tied up in the company. It comprises the sum of inventories and trade receivables less trade payables that arise in the course of the company's operating activities. Manufacturing industrial companies typically have high inventories, which have a significant influence on this working capital. Effective inventory management requires a balanced consideration of various factors and an adjustment to the corporate strategy. This task is complex but crucial for management. The successful implementation of inventory optimization measures leads to an improved liquidity situation and increases competitiveness. Reduced stock levels and increased operational efficiency reduce the need for external capital, which lowers the cost of capital and improves the company's rating. Working capital management therefore offers potential for increasing the value of the company.

Date of Award	2024
Original language	German (Austria)
Supervisor	Gerald Fallent (Supervisor)