Logistyka a zarządzanie cyklem kapitału pracującego – rozwiązania stosowane w skali przedsiębiorstwa
Logistics vs. working capital cycle management – solutions used in enterprise scale

Summary/Abstract: Logistics as a concept focused on management of physical and information flow structure in enterprise and supply chain can substantially support the optimisation of working capital structure and volume. To optimise working capital the cash conversion cycle of V.D. Richards and E.J. Laughlin can be used, and logistics impacts directly one of its three components: the inventory cycle (“forecast to fulfill” ‒ F2F), by influencing also the others two: receivables cycle (“order to cash” ‒ O2C) and payables cycle (“purchase to pay” ‒ P2P). The main instruments used to shorten the time of F2F cycle are Lean Management and Just in Time, focused on identification and reduction of waste in enterprise, by the mean of inventory reduction. In consequence the costs of capital decrease and the financial performance improves. The purpose of this article is to present the instruments which are primarily used by companies to improve their financial situation, as well as the advantages and disadvantages of those instruments. As the starting point for the considerations both will be taken: the concept of working capital cycle with its components and the indicators describing this cycle. In the next point the author discusses: the impact of operational activities undertaken in the logistics cycle of working capital and the risks involved. On this basis, we presented the methods used in logistics to establish the proper level of working capital and their impact. Since the described methods are applied to the individual companies, in our conclusion we indicate their limit

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