capital(营运资本).ppt

Chapter 3Value and logistics costs
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How can logistics costs be presented
Activity-based costing
A balanced measurement portfolio
Supply chain operations reference model
Content
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Key issues
1
How can shareholder value be defined?
2
What is economic value added, and how does it help in this definition?
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Business objectives
Business objective
Profit
Market share
Shareholder value
Social value
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Concepts about shareholder parable investment
ROI (Return on investment)
Sales
Costs
Working capital(营运资本)
Cash and debtors(借方,债务人)
Creditors(贷方,债权人)
Fixed assets
Sales revenue
Costs
-
Profit
Capital employed
Inventory
Cash and debtors
+
Creditors
Fixed assets
+
-
Return on capital employed
Working capital
÷
Sales revenue-Costs
Inventory+Cash and Debtors-Creditors+Fixed assets
ROI=
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Profitability = Profit / Sales
Asset utilization = Sales / Employed investment
ROI is underpinned by two main drivers:
Increased profitability
Increased asset utilization
×
ROI
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Level 1
Level 2
Level 3
Level 4
ROI
Net Profit
Sales
Production costs / Sales
Pay costs / sales
Materials / Sales
Selling costs / Sales
Pay costs / Sales
Administration costs / Sales
Pay costs / Sales
Sales
Total assets
Fixed assets / Sales
Property / Sales
Plant / Sales
Vehicle / Sales
Current assets / Sales
Inventory / Sales
Debtors / Sales
Cash / Sales
ROI and its key drivers
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Key time-related ratios
Average inventory turnover
Average settlement period for debtors
Average settlement period for creditors
Case study: The Wal-Mart effect
In 1987, Wal-Mart had a market share of just 9 percent but was 40 percent more productive than petitors as measured by real sales per employee.
By 1995, manded a market share of 27 percent and had widened its productivity edge to 48 percent.
Competitors began to adopt Wal-Mart’s innovations in ear