Financial logistics as a tool to streamline the process flow of credit institutions

2020 ◽  
Vol 26 (9) ◽  
pp. 1984-2004
Author(s):  
A.A. Kizim ◽  
N.V. Smolyakova
Keyword(s):  
Process Management ◽  
Banking Sector ◽  
Systems Approach ◽  
Flow Process ◽  
Flow Management ◽  
Financial Flows ◽  
Individual System ◽  
Flow Processes ◽  
Financial Flow ◽  
Practical Recommendations

Subject. The article addresses the problem of flow process management of credit organizations and their optimization, using the financial logistics tools in the banking practice. Objectives. The purpose is to consider the financial logistics as an effective tool of flow process management, the specifics of applying its methods in banking, and to develop practical recommendations for streamlining these processes, based on the logistics approach. Methods. The study employs methods of financial and economic analysis, synthesis, induction and deduction, and the systems approach. The academic papers of Russian and foreign scientists on financial logistics and flow process management serve as methodological and theoretical basis of the research. Results. We explore the financial logistics, reveal the specifics of using its methods in the banking practice. The paper presents practical recommendations for streamlining the flow processes, based on the logistics approach in the banking sector. Conclusions. The presentation of a credit organization as a logistic system enables to use methods of logistics approach in the banking practice in accordance with the objectives of each individual system element and its financial specificity. The offered recommendations can be applied in the banking practice to solve problems associated with the improvement of bank financial flow management. The findings may be useful to develop the theory of financial logistics and measures for streamlining the financial flows of credit organizations.

scholarly journals Financial flow management of enterprises and state in sustainable development conditions

2021 ◽  
Vol 20 (2(48)) ◽  
pp. 81-97
Author(s):  
O. V. Sadchenko
Keyword(s):  
Sustainable Development ◽  
Personal Identity ◽  
Financial Services ◽  
Flow Management ◽  
Financial Flows ◽  
Services Sector ◽  
Financial Services Sector ◽  
Blockchain Technology ◽  
Financial Flow ◽  
Business Entities

The article examines the main issues of managing financial flows between enterprises and between the state and enterprises based on blockchain technology. Three important functions of the financial services sector based on blockchain technology are considered: at the enterprise, the registration of transactions, confirmation of the personal identity (legal address) and the conclusion of contracts. The operations on the cryptocurrency market, carried out by their participants at their own risk, are described. The article studies approach to the formation of the behavior of business entities in the context of sustainable development, which can be used as an effective tool for increasing the competitiveness of goods (services) in Ukraine.

Modernization of the Russian banking sector based on the introduction of financial technologies for effective financial flow management

2021 ◽  
Vol 27 (7) ◽  
pp. 1627-1646
Author(s):  
Aleksei A. KONYAEV
Keyword(s):  
Banking Sector ◽  
Effective Management ◽  
Digital Form ◽  
Financial Flows ◽  
Digital Currency ◽  
Financial Flow ◽  
Approaches To Study ◽  
Unique Interpretation ◽  
General Scientific ◽  
Instrumental Methods

Subject. The article addresses the need to modernize the banking sector based on the introduction of financial technologies for managing the macro-financial flows. Objectives. The purpose is to present a unique interpretation of the Russian banking sector modernization, based on the introduction of financial technologies for effective management of financial flows in the banking sector. Methods. The study employs normative and integrated approaches to study the effectiveness of managing the macro-financial flows of the banking sector, general scientific and special methods of scientific knowledge, like retrospective, systems and structural-functional analysis, observation, classification, instrumental methods of grouping, selection, comparison and generalization, evolutionary and dynamic analysis. Results. The paper considers the main financial technologies of effective management of macro-financial flows of the Russian banking sector. To improve their efficiency, I propose to use financial technologies for the creation of digital currencies. Conclusions. The use of digital currency will enable banks to manage the macro-financial flows in digital currency more effectively; to automatically track macro-financial flows in digital currency and prohibit their spending for purposes that do not correspond to the intended objective, by adding a special feature, indicating the permissible purposes for spending these funds; to increase the speed of movement of macro-financial flows in the digital form.

ANALYTICAL ASSESSMENT OF ACCOUNTING FINANCIAL FLOWS BY AGRICULTURAL SUBJECTS

2019 ◽  
pp. 16-22
Author(s):  
Elena Mykolaivna USIKOVA
Keyword(s):  
Decision Making ◽  
Cash Flow ◽  
Cash Flows ◽  
Maximum Efficiency ◽  
Analytical Evaluation ◽  
Flow Management ◽  
Financial Flows ◽  
Financial Flow ◽  
Analytical Assessment ◽  
Accounting Approaches

The article deals with the theoretical and practical aspects of estimating accounting cash flows that directly generate cash flow, influence and are managed by various actors in the agribusiness and the entire agro-industrial environment. After all, in the country where the agribusiness is concentrated, there are a number of unresolved issues in the field of research of agro-industrial enterprises, which led to the need for generalization and development of accounting and analytical support for the assessment of data of agricultural enterprises within accounting approaches to analytical evaluation. An analytical evaluation of the effectiveness of financial flow management is provided, which assures the enterprises in the process of its strategic and current development. The processes of agribusiness financial flows management and decision-making processes that should ensure a smooth process are considered. The liquid cash flow characterizing the absolute value of cash is investigated. The conceptual model of accounting and analytical support of financial recovery was used, as well as the analysis of the results of the activity of agribusiness entities. The results of the study showed that financial flow as an accounting category is divided over time into a series of payments with positive and negative value – that is, cash flows and their equivalents. Therefore, it is necessary to have an adequate system of accounting information, which will allow to use all available resources with maximum efficiency for effective development of agribusiness in Ukraine. Therefore, analytical valuation is an integral part of today, because there is such a situation that many domestic enterprises are not able to provide effective cash flow management without properly organized accounting and analytical assessment of financial flows of agribusiness entities. Optimization of valuation will allow to determine the most effective forms and conditions of implementation of current operations, as well as rational directions of assets and profit placement. Only a comprehensive approach will allow to ensure transparency of the estimation process of financial flows of enterprises and will facilitate timely decision-making in the process of its activity. Key words: accounting and analytical support, agricultural enterprise, accounting approaches, cash flows, liquid cash flow, accounting system.

Considerations on national interests in financial flows of global social and economic entities

2020 ◽  
Vol 26 (5) ◽  
pp. 1017-1038
Author(s):  
V.V. Smirnov
Keyword(s):  
Sustainable Development ◽  
Systems Approach ◽  
National Development ◽  
World Order ◽  
Fund Raising ◽  
Skewed Distribution ◽  
Managerial Decision ◽  
National Interests ◽  
Average Growth ◽  
Financial Flows

Subject. The article investigates financial flows. Objectives. The study is to determine directions of financial flows in global social and economic entities. Methods. I rely upon the systems approach and methods of descriptive statistics. Results. The article illustrates the importance of national interests in financial flows of global social and economic entities. I emphasize that finance is a factor determining the importance of national interests. Finance mirrors the national development and opportunities of a social and economic entity to protect its sovereignty. Sustainable development seems to be the ground for solving any issues of national interests as part of financial flows of social and economic entities. This may be feasible through fund raising. I determined directions of financial flows streaming to socialist and capitalist social and economic entities. In Russia capitalist social and economic entities emerge due to a positively-skewed distribution of values around the average growth rate of direct investment in non-financial assets and portfolio investment, and a negatively-skewed distribution, i.e. military spending, inflation, fiscal revenue and general reserves net of gold. The article highlights that Russia and China have similar economic views on poverty and equality. Conclusions and Relevance. As global economic ties transform and controversies concerning the world order escalate, capitalist economies disregard the specifics of the social and economic paradigm and national interests of other countries. Such controversies can be eliminated if multiple economic interests are simplified. Sustainable development and respective goals seem to offer a solution to national interests as part of financial flows of social and economic entities. The findings unveil opportunities for exercising national interests in global social and economic entities by regulating a source of financial flows, generating new competencies for managerial decision-making on sustainable development goals.

Filtering of Markov renewal queues, IV: Flow processes in feedback queues

1985 ◽  
Vol 17 (2) ◽  
pp. 386-407 ◽  
Author(s):  
Jeffrey J. Hunter
Keyword(s):  
Queue Length ◽  
Queueing Systems ◽  
Arrival Process ◽  
Markov Renewal Process ◽  
Renewal Processes ◽  
Flow Process ◽  
Special Cases ◽  
Flow Processes ◽  
Transition Points ◽  
The Times

This paper is a continuation of the study of a class of queueing systems where the queue-length process embedded at basic transition points, which consist of ‘arrivals’, ‘departures’ and ‘feedbacks’, is a Markov renewal process (MRP). The filtering procedure of Çinlar (1969) was used in [12] to show that the queue length process embedded separately at ‘arrivals’, ‘departures’, ‘feedbacks’, ‘inputs’ (arrivals and feedbacks), ‘outputs’ (departures and feedbacks) and ‘external’ transitions (arrivals and departures) are also MRP. In this paper expressions for the elements of each Markov renewal kernel are derived, and thence expressions for the distribution of the times between transitions, under stationary conditions, are found for each of the above flow processes. In particular, it is shown that the inter-event distributions for the arrival process and the departure process are the same, with an equivalent result holding for inputs and outputs. Further, expressions for the stationary joint distributions of successive intervals between events in each flow process are derived and interconnections, using the concept of reversed Markov renewal processes, are explored. Conditions under which any of the flow processes are renewal processes or, more particularly, Poisson processes are also investigated. Special cases including, in particular, the M/M/1/N and M/M/1 model with instantaneous Bernoulli feedback, are examined.

Smart Contract: Concept, Financial Essence, World Experience and Opportunities of Practical Use

2021 ◽  
Vol 27 (8) ◽  
pp. 1871-1893
Author(s):  
Vasilii A. DADALKO ◽  
Vladimir V. NIKOLAEVSKII ◽  
Andrei D. NEKRASOV ◽  
Dar’ya S. SHERSTNEVA
Keyword(s):  
Banking Sector ◽  
Systems Approach ◽  
Essential Element ◽  
Utilization Efficiency ◽  
Smart Contracts ◽  
Financial Instruments ◽  
Complex Concept ◽  
Smart Contract ◽  
Fundamental Possibility ◽  
The Moment

Subject. The article considers smart contracts as digital financial instruments, their financial and economic essence, which is defined as digital instruments for the settlement of financial relations. Objectives. The aim is to introduce into scientific use such a system concept as digital financial instruments and mechanisms based on the consideration of their economic, legal and financial essence. Methods. The study rests on systems approach that enables to present a smart contract from a technological, economic, legal and financial position as a set of elements with their specific functions defining its complex concept. Results. We reveal the nature of financial relations, arising at the time when bilateral or multilateral transactions are concluded and smart contracts are presented as ways to automatically settle them. Completion of a smart contract is a confirmation of the completion of the transaction and the moment of termination of financial relationship. The article shows the fundamental possibility of using smart contracts in the system of budget relations as a tool for the settlement of a multilateral transaction. Conclusions. Currently, smart contracts are an essential element of a new stage in the development of financial technologies. Specialists in the financial and banking sector recognize the emerging opportunities for their use in the system of financial relations. The paper shows an example of possible use of smart contracts in the settlement of budget relations and in improving the utilization efficiency of budget funds.

scholarly journals FINANCIAL CONTROL FOR THE FUNCTIONING OF THE SYSTEM AND MECHANISM OF THE STATE FINANCIAL POLICY

2020 ◽  
pp. 38-41
Author(s):  
Natalia Botvina
Keyword(s):  
Control System ◽  
Internal Control ◽  
Agricultural Sector ◽  
Systems Approach ◽  
Financial Control ◽  
Financial Policy ◽  
Financial Flows ◽  
Financial Decisions ◽  
Control Procedures

The functioning of the financial control system should be aimed at achieving the goals set by the financial policy. The role of the financial control system is to monitor the efficiency of financial resources, the optimality of financial flows, the creation of an information base for financial decisions to address deficiencies or regulate the objectives of financial policy. Based on the application of the systems approach in the study, it should also be noted that the system of financial control does not operate in isolation, but is a subsystem of a more complex system. It is also possible that it should be distinguished between smaller subsystems. The purpose of the article is to reveal the main problems of financial control over the functioning of the system and the mechanism of financial policy. The article substantiates the functions of financial control, which should contribute to the formation and strengthening of entrepreneurship, further developed the principles of the financial control system, by substantiating the principle of limitation of the application of control procedures. Determining the place of the system of financial control in the implementation of financial policy to ensure sustainable development of the agricultural sector, we concluded that the system of internal control is a subsystem of financial policy.

scholarly journals The legal principle of rational nature management: modern context

2021 ◽  
Vol 7 (Extra-E) ◽  
pp. 639-643
Author(s):  
Evgeniy E. Tonkov ◽  
Vladislav Yu. Turanin ◽  
Aleksey S. Fedoryaschenko ◽  
Ekaterina Yu. Arkhipova ◽  
Viktoria A. Katomina
Keyword(s):  
Natural Resources ◽  
Systems Approach ◽  
Nature Management ◽  
Environmental Harm ◽  
Rational Nature ◽  
Legal Principle ◽  
The Future ◽  
Modern Context ◽  
Practical Recommendations ◽  
Minimal Residual

The main aim of the article is to consider the modern scientific and practical legal views on the principle of rational nature management. To meet the objective of the study, the universal systems approach as a methodology of cognition is used. The summary of the article includes the conclusion that any use of natural resources should be rational, which implies the use of fewer natural resources while meeting the needs of the same level, provided there is no or minimal residual environmental harm. In the end, some practical recommendations are made to be taken into consideration in the future relevant studies

A branch & cut/metaheuristic optimization of financial supply chain based on input-output network flows: investigating the iranian orthopedic footwear

2021 ◽  
pp. 1-19
Author(s):  
Peide Liu ◽  
Ayad Hendalianpour
Keyword(s):  
Mathematical Model ◽  
Supply Chain ◽  
Network Flows ◽  
Cash Flows ◽  
Financial Flows ◽  
Conflicting Objectives ◽  
Financial Flow ◽  
Corporate Profits ◽  
Payment Mechanisms

Financial flows are one of the three majors in a Supply Chain (SC). Ignoring financial flows, regardless of the quality of freight transport and information, could lead the organization to a state of bankruptcy, which is a situation directly resulting from a lack of control over financial inputs/outputs. This study proposes a multi-product mathematical model, which makes it possible to choose among suppliers, manufacturing sites, distribution centres, retailers, and transportation vehicles. The purpose of the model is to integrate physical and material dimensions to maximize net corporate profits through inbound and outbound financial flows; it involves payment mechanisms between the financial and physical flows through maximizing the cash flows of manufacturing sites and suppliers, as two conflicting objectives that must consider the reciprocal effects of their decisions. These objectives are calculated by subtracting costs from the revenue; this process, of course, will ultimately result in an optimization of the organization’s financial flow. To solve the proposed mathematical model, the study relies on two algorithms, namely Particle Swarm Optimization (PSO) and Imperialist Competition Algorithm (ICA). The sample under investigation is solved separately using the three algorithms, and results are then compared. The observations of the study reveal the better performance of PSO.

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