Financial logistics. Models and tools of financial logistics

Financial flows are varied in composition, directions of movement, purpose and other characteristics. In order to optimize their movement in logistics systems, flows must be classified. The classification of financial flows is given in table. 14.

The division of flows according to the direction of movement is of greatest importance. Positive and negative flows are interconnected. The insufficiency of the volumes of one type of flow in a specific period of time causes a reduction in the volumes of another type. Therefore, in the enterprise cash flow management system, they should be considered as a single (complex) management object.

Net cash flow is the most important result of the financial activity of an enterprise, largely determining its financial stability.

Classification of financial flows.
Classification feature
Direction of movement
1. Positive (cash inflow, cash inflow)
2. Negative (cash payments, cash outflow)
Calculus method
1. Gross - the entire totality of receipts and expenditures of funds
2. Net cash flow - the difference between positive and negative cash flows (between the receipt and expenditure of funds)
By purpose
1. Purchasing - servicing process of purchasing goods
2. Production - servicing production process
3. Sales - the servicing process of selling finished products
Frequency of occurrence
1. Regular - occurs regularly in business activities (salaries, tax payments, etc.)
2. Discrete - occurs when carrying out one-time, single transactions (for example, buying real estate)
Sufficiency level
1. Excessive - cash receipts significantly exceed the enterprise’s real need to spend them
2. Scarce - revenues are significantly lower than the real needs of the enterprise in their expenditure
Scale
1. For the enterprise as a whole - accumulates all types of funds of the enterprise
2. For certain types of activity of the enterprise
3. For individual structural divisions (responsibility centers) of the enterprise
4. For individual business transactions
Type of economic activity
1. Accompanying the movement of products (payments to suppliers, employees, tax authorities, receipts from product buyers, etc.)
2. Accompanying investment activities (sale and purchase of fixed assets, real estate, intangible assets)
3. Accompanying financial activities (receiving and paying loans, attracting additional share capital, paying dividends)

The main goal of optimizing the movement of financial flows in logistics is to ensure the movement of material flows (service flows) with financial resources in the required volumes, at the right time, using the most effective sources of financing, i.e. in accordance with the “seven H” logistic rule. This is achieved in two main ways: timely receipt of funds to the enterprise in the amount necessary to finance its further activities; ensuring efficient spending of funds that is profitable and consistent with the mission of the enterprise.
Financial logistics in the book business is a section of logistics that studies the optimization of financial flows directed to the acquisition of resources and received by book business enterprises from buyers of book products and partners in the movement of book products in the supply chain.
Let's consider what stages the cash flow cycle in the book business consists of.
Example
The publisher spends money to purchase copyrights for a finished work or finances the creation of a book manuscript. As a result, he receives the manuscript and the right to publish it. In advance, it is advisable for the publisher to spend certain funds on marketing research, which will provide him with information for making decisions about the acquisition of the manuscript, the form of its publication, circulation, and promotion channels.
The publisher spends money on preparing the manuscript for printing (editorial and publishing expenses). As a result, he receives the original layout of the publication.
The publisher purchases paper and other printing materials and pays printing expenses. As a result, he receives a copy of the book.
The publisher spends money on advertising and promotion of the book, its placement on the book market using logistics chains that are most effective for selling this book.
In some cases, the publisher finances bookselling enterprises by providing them with trade credit.
In the book business, there are the following forms of financial relationships between publishing houses and bookselling enterprises:
Payment to the publisher only for book goods sold by the bookselling enterprise. In this case, unsold books are returned to the publisher after a certain period.
Purchase with deferred payment (with or without the right to return unsold books). In this case, a payment deadline is set.
Purchase with simultaneous payment and no right to return unsold books.
Purchase with advance payment.
Financing of publishing projects: a bookselling or some other company pays the publishing house for the publication of a book and becomes the owner of the circulation.
The bookselling (or some other company) finances part of the costs (for paper, printing, transport services) and participates in an agreed share of the profits from the sale of the edition.
Only after these costly flows (investment of funds) does the publisher begin to receive money from bookselling enterprises for the book goods they bought (or sold).
As we can see, the expenditure and receipt of funds by enterprises is characterized by significant unevenness (Fig. 43). Therefore, if business managers do not pay due attention to financial logistics, they may periodically discover that at the right time there is not enough money in the company’s accounts. You have to take out a loan, and since this needs to be done urgently, there is no time left to search and select the optimal conditions for borrowing money, the amounts and terms of the loan. The development of this negative situation further leads to a violation of the loan payment schedule, and, consequently, to penalties.
Another situation is also possible - the uncontrolled flow of money into the company’s accounts makes it difficult to optimize tax payments and leads to the formation of temporarily free funds. Available funds lose their value over time due to inflation and other reasons. Consequently, optimization of cash flows should include balancing them by type, volume, timing and other characteristics, as well as increasing the net cash flow of the enterprise. At the same time, cash flows must be subordinated to the fulfillment of the enterprise’s mission and the goals of its activities in the book market.
The need to optimize the cash flow of an enterprise is determined by the following basic provisions.
Cash flows are the “financial blood circulation” of an enterprise; they serve almost all aspects of business activity. Properly organized cash flows are the most important condition for obtaining effective results from an enterprise.
The financial stability of an enterprise is largely determined by how different types of cash flows are synchronized with each other in time, in the direction of movement, etc. Insolvency can occur even for enterprises that receive a sufficient amount of profit due to an imbalance of receipts and payments over time.
Rational formation of cash flows helps to increase the rhythm of all logistics processes of the enterprise. Any failure to make payments has a negative impact on the formation of inventories of raw materials, labor productivity, sales of finished products, etc. Effectively organized financial flows create conditions for optimizing the movement of all other types of flows (material, information, personnel, service).
By actively managing cash flows, you can ensure a more rational and economical use of your own financial resources and reduce the need for borrowed capital.

Cash flow management ensures acceleration of the enterprise's capital turnover by reducing production and financial cycles, reducing the need for capital serving the economic activities of the enterprise.
Synchronizing the flow of receipts and payments of money allows you to reduce the real need of the enterprise for free cash balances, which contributes to the formation of additional resources that can be directed to investments that are a source of profit.

The following stages of financial flow management are distinguished:
Accounting for their movement. Like the management of all other types of logistics flows, cash flow management must be provided with the necessary information. Accounting provides this information.
It should be noted that external consumers should also have financial information about the company’s activities. Owners (current and potential), government organizations, creditors (for example, suppliers of goods who sell them on credit), and consumers (clients) are interested in obtaining information about the financial condition of a company. Each of the interest groups uses financial information for its own purposes. Potential owners - to decide on the acquisition of shares, suppliers - to determine the terms of delivery, government agencies - to monitor the correct payment of taxes, etc.
Analysis of cash flows based on accounting data.
It is determined whether the enterprise has enough funds, whether they were used effectively, whether a balance was achieved in the flow of receipts and payments of funds, etc.
The analysis should be carried out both for the enterprise as a whole and for individual areas of its activity, as well as for individual structural divisions. As a result of the analysis, opportunities are identified:
- reducing the enterprise’s dependence on external sources of raising funds;
- balance of receipts and payments in terms of time and volume;
- relationships between cash flows by type of economic activity of the enterprise;
- increasing the amount of net cash flow (profit).
Cash flow planning is carried out both for the enterprise as a whole and in the context of its various types of activities. Since the development of the financial situation in the future is a process characterized by significant uncertainty, it is advisable to carry out planning in the form of developing several options corresponding to different scenarios for the development of events (optimistic, realistic, pessimistic).
Control of cash flows: fulfillment of planned indicators, uniformity of cash flow formation over time, efficiency of use of cash flows, solvency of the enterprise, net cash flow.
As already noted, the main goal of optimizing the cash flow of an enterprise is to ensure its financial stability and competitiveness in the book market. The most important prerequisite for optimization is the study of factors affecting financial flows. There are external and internal factors, or factors of the external and internal environment of the enterprise.
The main external factors include:
Book market conditions. The market environment has a significant impact on the receipt of funds from sales of products. The higher the demand for book products, the better they sell and the greater the revenue stream from sales. A decline in demand, on the contrary, reduces the flow of revenue from the sale of goods, which can lead to a shortage of funds for the enterprise and the accumulation of significant inventories of products that cannot be sold.
Industry practice of lending to suppliers and buyers of products. This practice determines the established procedure for purchasing products - on the terms of prepayment, cash payment, deferred payment (commercial loan). As we have already mentioned, the main form of relationship between publishers and booksellers is the supply of products on deferred payment terms.
Tax system. Its changes affect the volume and nature of tax payments of the enterprise. Recently, value added tax has become important in the book business. The fact that book products were not subject to this tax allowed the industry to allocate significant funds to the development of the book business.
Conditions of the financial and credit markets. The state of the financial market affects the price of the company's shares. In addition, financial market conditions determine the possibility of effectively using the enterprise's free funds by purchasing shares, and also affects the receipt of funds from the securities it already has (dividends, interest).
Depending on the conditions of the credit market, the volume of banks’ supply of “expensive” or “cheap” (interest rate), “short” or “long” (loan terms) money increases or decreases, which affects the possibility of generating cash flows of the enterprise from this source.
The main internal factors influencing the cash flows of an enterprise are:
Duration of the logistics cycle. The shorter the duration of the logistics cycle, the faster the purchased materials are converted into finished products and sold to customers, and the more money turns around, bringing profit as a result of the completion of each cycle. At the same time, the acceleration of financial flows not only does not lead to an increase in the need for working capital, but even reduces the size of this need.
Seasonality of demand and product sales. Significantly affects the formation of cash flows over time, causing the formation of both temporarily free funds and an increase in costs. An example of seasonal fluctuations in the book business is the need to produce and purchase educational publications by the beginning of the school year, an increase in sales for the New Year holidays and their decrease in the summer season.
Financial mentality of owners and qualifications of company managers. They affect the choice and implementation of the financial policy of the enterprise. The owners distribute the income of the enterprise and decide whether it will be actively invested in its development or directed to other needs. Managers implement the financial policies developed by the owners, so the level of their qualifications, which determines the effectiveness of their decisions, becomes important here.
Enterprise life cycle. Different stages of an enterprise's life cycle are characterized by different volumes and structure of cash flows. The following stages of a company's life cycle are distinguished:
1) Entering the market. At this stage, the enterprise has a small profit, and sometimes even losses, since sales volumes are small, and the costs of organizing production and sales are very significant.
2) Enterprise growth. This stage is characterized by a high rate of increase in the output of products (services) and its sales. This leads to a noticeable increase in profits. There is an active investment of profits in new areas of activity, in the development of new markets, products, etc.
3) Maturity. At this stage, the company’s economic growth rates may slow down, and its business goals and strategies may be revised. At the same time, the best enterprises are constantly looking for new competitive advantages and continuously improving their products. This position allows you to increase the duration of the growth and maturity stages indefinitely.
4) Decline in activity. The growth of the enterprise stops, sales volumes and profits decrease, competitiveness and financial stability decrease. All this can lead to the company leaving the market. The recession stage can be caused by both objective external factors (for example, a decrease in demand for these goods), and mistakes made by the management of the enterprise, unused opportunities, etc.

Optimization of financial flows
By selling goods or services, the company receives revenue, which is used to cover costs and pay taxes. The remaining part forms the profit (or loss, if the revenue was not enough for the specified payments) of the enterprise. The profit of the enterprise is used for various purposes. At certain moments in the life of an enterprise, the need arises to attract borrowed funds to ensure its activities.
Optimization of financial flows consists of managing the stages of the logistics financial cycle: purchasing, production, distribution activities.
At the first stage, money should be optimally invested in materials, goods, information, labor and other production resources.
At the production stage, the invested money goes into finished products, and it is necessary to ensure the competitiveness of the goods (services) produced. The costs incurred must create a use value that ensures their coverage and the receipt of the planned profit.
At the sales stage, goods are transferred into cash as they are sold, cash flow begins, and net cash flow is formed. However, it should be remembered that this process determines not only the direct receipt of cash flows, but also the position of the enterprise in the market, its image, reliability as a business partner, which are also important for operating results.
Using the money raised, the logistics cycle is repeated again. The duration of the full turnover of working capital (from their advance into resources to the receipt of money for goods sold) is characterized by turnover. The financial position of the enterprise, its solvency, the need for additional sources of financing, etc. depend on the speed of turnover of financial flows. Thus, optimization of cash flow should be aimed at implementing the circulation of financial resources, their uninterrupted and prompt flow from monetary form to raw materials, finished products , goods and again into monetary form.
In addition to accelerating the financial cycle, optimizing financial flows involves maximizing the inflow of funds and minimizing the outflow (by reducing the volume or slowing down the speed of outflow).
There are three main ways to maximize cash flows received at the end of the logistics cycle of their movement, i.e. as a result of the sale of produced goods and services:
An increase in the difference between revenue from the sale of goods (services) and costs. This can be achieved by cutting costs and/or increasing product prices. This method must be used with caution, since reducing costs can lead to a decrease in the quality of goods (services) to an uncompetitive level, and increasing prices can lead to a reduction in the amount of goods sold and a decrease in the speed of cash flow.
Acceleration of cash flow. The faster finished products are produced from purchased raw materials, and the latter are converted into cash receipts as a result of sales, i.e. The faster the logistics cycle is completed, the faster the cash turnover occurs. The acceleration of cash flow, in turn, leads to the fact that more cash can be obtained from the same initial resources in the same time.
For example, in order to sell books worth 100 thousand rubles. per month, the bookstore can choose one of the following options. Purchase all goods at once, ensuring the planned sales volume. To do this, he must immediately spend 70 thousand rubles.
But this option is also possible: the store first buys goods in the same assortment, but in fewer copies, for example, for 35 thousand rubles, and then repeats this purchase again. As a result, the same result (sales worth 100 thousand rubles) can be achieved by using half as much money.
The acceleration of cash flow also occurs due to the acceleration of the sale of goods, so in some cases it is advisable to increase costs (for example, for faster delivery of goods) or reduce prices in order to reduce the duration of the logistics cycle and ultimately make a profit faster.
Eliminate unnecessary costs, loss and damage to goods. When improving the logistics process of an enterprise, it is necessary to constantly ensure that unnecessary operations, links, and structures do not arise that lead to unjustified costs. In addition, due care should be taken to ensure the safety of materials, goods and other property. When solving these problems, as well as those mentioned above, it is necessary to apply the concepts of trade-offs, total costs, and others. For example, free access of buyers to goods can lead to an increase in losses of goods due to theft and increased defects, but, on the other hand, it helps to increase sales and increase turnover.
In general, it should be noted that the costs of funds and other resources do not exist on their own. They always appear when you need to get some result. Based on this, it is advisable to first evaluate not the level of costs, but the relationship between them and the results obtained. Effective cost control requires the use of the total cost principle, otherwise costs can be reduced at a particular stage by simply moving them to another stage of the logistics cycle. For example, the purchase of cheaper raw materials leads to longer and more expensive processing, savings on transportation costs lead to higher costs for increasing inventory, etc.
All costs for the production and sale of goods should be considered integrally - as the amount that the consumer must ultimately pay in order to receive the goods and benefit from them. The buyer is not at all interested in how costs are distributed among the participants in the supply chain (publishers, printers, booksellers); he will buy a book if its price corresponds to his financial capabilities, and also corresponds to his assessment of whether the benefit he acquires in this product deserves the required financial expenditure.
etc.................

Chapter 13. Financial logistics

The importance of optimizing the movement of financial flows of enterprises. Definition of financial logistics and its goals. The concept of financial flow. Classification of financial flows. Stages of the cash flow cycle in the book business. Financial stability of the enterprise. Stages of financial flow management. External and internal factors affecting the financial flows of the enterprise. Stages of the logistics financial cycle. Ways to maximize cash flows received at the end of the logistics cycle. The main factors influencing the speed of financial flows. Financial image of the company.

Goals and objectives of financial logistics

Optimization of the movement of material flows in logistics systems is largely achieved by improving their servicing with financial flows. Only financial resources can be converted into any other types: use them to buy goods, services, information, pay staff, etc. In this regard, the effective movement of cash flows is an important condition for the functioning of a book publishing enterprise.

Changes in the magnitude, speed and other parameters of financial flows significantly affect the movement of material flows. For example, increasing the speed of cash flow due to faster payment processing can lead to faster receipt of goods in a bookselling enterprise and reduce the required level of inventory of goods. The lack of power of financial flows or the slow speed of their receipt by a publishing company can cause a reduction in the range of book products it produces.

All this indicates the importance of studying and optimizing the movement of financial flows of enterprises. At the same time, it should be noted that the movement of financial flows in relation to their servicing of flows of goods and services is the least studied area of ​​logistics. In the literature on logistics, financial issues are only mentioned and do not receive sufficient coverage, however, financial management is showing increasing interest in the problem of managing financial flows.

Financial flows arise and are used in the book business to ensure the efficient passage of book products throughout the entire logistics cycle of its production and distribution, from the origin of the idea of ​​a future publication to the purchase of the book by the consumer. Financial flows serve the processes of transfer of ownership and movement of raw materials and goods in space and time. Taking this into account, we can give the following definition of logistics financial flow.

Financial flow in logistics - this is the movement of financial resources circulating in the logistics system, as well as between the logistics system and the external environment, necessary to ensure the effective movement of goods flow.

The financial flow of an enterprise consists of receipts and payments of funds generated in the process of business activities distributed over time.

Any book business enterprise must earn money as a result of selling the products of its activities (book goods and services), and then invest (invest) the money received in the production of new goods (services). At the same time, a normally operating enterprise should make a profit from its activities. This constantly repeating process is called the “cash flow cycle.” The cash flow cycle accompanies the logistics cycle of the movement of goods (services) (Fig. 42
).

Financial flows are varied in composition, directions of movement, purpose and other characteristics. In order to optimize their movement in logistics systems, flows must be classified. is given in table. 14.

The division of flows according to the direction of movement is of greatest importance. Positive and negative flows are interconnected. The insufficiency of the volumes of one type of flow in a specific period of time causes a reduction in the volumes of another type. Therefore, in the enterprise cash flow management system, they should be considered as a single (complex) management object.

Net cash flow is the most important result of the financial activity of an enterprise, largely determining its financial stability.

Table 14

The main goal of optimizing the movement of financial flows in logisticsis to ensure the movement of material flows (service flows) with financial resources in the required volumes, at the right time, using the most effective sources of financing, i.e. in accordance with the “seven H” logistic rule. This is achieved in two main ways: timely receipt of funds to the enterprise in the amount necessary to finance its further activities; ensuring efficient spending of funds that is profitable and consistent with the mission of the enterprise.

Financial logistics in the book business - This is a section of logistics that studies the optimization of financial flows directed to the acquisition of resources and received by book business enterprises from buyers of book products and partners in the movement of book products in the logistics chain.

Let's consider which The cash flow cycle consists of stages in book business.

In the book business there are the following forms of financial relationships between publishing houses and booksellers:

Payment to the publisher only for book goods sold by the bookselling enterprise. In this case, unsold books are returned to the publisher after a certain period.

Purchase with deferred payment (with or without the right to return unsold books). In this case, a payment deadline is set.

Purchase with simultaneous payment and no right to return unsold books.

Purchase with advance payment.

Financing of publishing projects: a bookselling or some other company pays the publishing house for the publication of a book and becomes the owner of the circulation.

The bookselling (or some other company) finances part of the costs (for paper, printing, transport services) and participates in an agreed share of the profits from the sale of the edition.

Only after these costly flows (investment of funds) does the publisher begin to receive money from bookselling enterprises for the book goods they bought (or sold).

As we can see, the expenditure and receipt of funds of enterprises is characterized by significant unevenness (Fig. 43
). Therefore, if business managers do not pay due attention to financial logistics, they may periodically discover that at the right time there is not enough money in the company’s accounts. You have to take out a loan, and since this needs to be done urgently, there is no time left to search and select the optimal conditions for borrowing money, the amounts and terms of the loan. The development of this negative situation further leads to a violation of the loan payment schedule, and, consequently, to penalties.

Another situation is also possible - the uncontrolled flow of money into the company’s accounts makes it difficult to optimize tax payments and leads to the formation of temporarily free funds. Available funds lose their value over time due to inflation and other reasons. Consequently, optimization of cash flows should include balancing them by type, volume, timing and other characteristics, as well as increasing the net cash flow of the enterprise. At the same time, cash flows must be subordinated to the fulfillment of the enterprise’s mission and the goals of its activities in the book market.

The need to optimize the cash flow of an enterprise is determined by the following basic provisions.

Cash flows are the “financial blood circulation” of an enterprise; they serve almost all aspects of business activity. Properly organized cash flows are the most important condition for obtaining effective results from an enterprise.

Financial stability of the enterprise is largely determined by how different types of cash flows are synchronized with each other in time, in the direction of movement, etc. Insolvency can occur even for enterprises that receive a sufficient amount of profit due to an imbalance of receipts and payments over time.

Rational formation of cash flows helps to increase the rhythm of all logistics processes of the enterprise. Any failure to make payments has a negative impact on the formation of inventories of raw materials, labor productivity, sales of finished products, etc. Effectively organized financial flows create conditions for optimizing the movement of all other types of flows (material, information, personnel, service).

By actively managing cash flows, you can ensure a more rational and economical use of your own financial resources and reduce the need for borrowed capital.

Cash flow management ensures acceleration of the enterprise's capital turnover by reducing production and financial cycles, reducing the need for capital serving the economic activities of the enterprise.

Synchronizing the flow of receipts and payments of money allows you to reduce the real need of the enterprise for free cash balances, which contributes to the formation of additional resources that can be directed to investments that are a source of profit.

The following are distinguished: stages of financial flow management:

As already noted, the main goal of optimizing the cash flow of an enterprise is to ensure its financial stability and competitiveness in the book market. The most important prerequisite for optimization is the study of factors affecting financial flows. There are external and internal factors, or factors of the external and internal environment of the enterprise.

The main external factors include:

Book market conditions. The market environment has a significant impact on the receipt of funds from sales of products. The higher the demand for book products, the better they sell and the greater the revenue stream from sales. A decline in demand, on the contrary, reduces the flow of revenue from the sale of goods, which can lead to a shortage of funds for the enterprise and the accumulation of significant inventories of products that cannot be sold.

Industry practice of lending to suppliers and buyers of products. This practice determines the established procedure for purchasing products - on the terms of prepayment, cash payment, deferred payment (commercial loan). As we have already mentioned, the main form of relationship between publishers and booksellers is the supply of products on deferred payment terms.

Tax system. Its changes affect the volume and nature of tax payments of the enterprise. Recently, value added tax has become important in the book business. The fact that book products were not subject to this tax allowed the industry to allocate significant funds to the development of the book business.

Conditions of the financial and credit markets. The state of the financial market affects the price of the company's shares. In addition, financial market conditions determine the possibility of effectively using the enterprise's free funds by purchasing shares, and also affects the receipt of funds from the securities it already has (dividends, interest).

Depending on the conditions of the credit market, the volume of banks’ supply of “expensive” or “cheap” (interest rate), “short” or “long” (loan terms) money increases or decreases, which affects the possibility of generating the enterprise’s cash flows from this source.

The main internal factors influencing the cash flows of an enterprise are:

By selling goods or services, the company receives revenue, which is used to cover costs and pay taxes. The remaining part forms the profit (or loss, if the revenue was not enough for the specified payments) of the enterprise. The profit of the enterprise is used for various purposes. At certain moments in the life of an enterprise, the need arises to attract borrowed funds to ensure its activities.

Optimization of financial flows consists of managing the stages of the logistics financial cycle: purchasing, production, distribution activities.

At the first stage, money should be optimally invested in materials, goods, information, labor and other production resources.

At the production stage, the invested money goes into finished products, and it is necessary to ensure the competitiveness of the goods (services) produced. The costs incurred must create a use value that ensures their coverage and the receipt of the planned profit.

At the sales stage, goods are transferred into cash as they are sold, cash flow begins, and net cash flow is formed. However, it should be remembered that this process determines not only the direct receipt of cash flows, but also the position of the enterprise in the market, its image, reliability as a business partner, which are also important for operating results.

Using the money raised, the logistics cycle is repeated again. The duration of the full turnover of working capital (from their advance into resources to the receipt of money for goods sold) is characterized by turnover. The financial position of the enterprise, its solvency, the need for additional sources of financing, etc. depend on the speed of turnover of financial flows. Thus, optimization of cash flow should be aimed at implementing the circulation of financial resources, their uninterrupted and prompt flow from monetary form to raw materials, finished products , goods and again into monetary form.

In addition to accelerating the financial cycle, optimizing financial flows involves maximizing the inflow of funds and minimizing the outflow (by reducing the volume or slowing down the speed of outflow).

Exists three main ways to maximize cash flow, received at the end of the logistics cycle of their movement, i.e. as a result of the sale of produced goods and services:

Increasing the difference between revenue from the sale of goods (services) and costs. This can be achieved by cutting costs and/or increasing product prices. This method must be used with caution, since reducing costs can lead to a decrease in the quality of goods (services) to an uncompetitive level, and increasing prices can lead to a reduction in the amount of goods sold and a decrease in the speed of cash flow.

Acceleration of cash flow. The faster finished products are produced from purchased raw materials, and the latter are converted into cash receipts as a result of sales, i.e. The faster the logistics cycle is completed, the faster the cash turnover occurs. The acceleration of cash flow, in turn, leads to the fact that more cash can be obtained from the same initial resources in the same time.

For example, in order to sell books worth 100 thousand rubles. per month, the bookstore can choose one of the following options. Purchase all goods at once, ensuring the planned sales volume. To do this, he must immediately spend 70 thousand rubles.

But this option is also possible: the store first buys goods in the same assortment, but in fewer copies, for example, for 35 thousand rubles, and then repeats this purchase again. As a result, the same result (sales worth 100 thousand rubles) can be achieved by using half as much money.

The acceleration of cash flow also occurs due to the acceleration of the sale of goods, so in some cases it is advisable to increase costs (for example, for faster delivery of goods) or reduce prices in order to reduce the duration of the logistics cycle and ultimately make a profit faster.

Eliminate unnecessary expenses, loss and damage to goods. When improving the logistics process of an enterprise, it is necessary to constantly ensure that unnecessary operations, links, and structures do not arise that lead to unjustified costs. In addition, due care should be taken to ensure the safety of materials, goods and other property. When solving these problems, as well as those mentioned above, it is necessary to apply the concepts of trade-offs, total costs, and others. For example, free access of buyers to goods can lead to an increase in losses of goods due to theft and increased defects, but, on the other hand, it helps to increase sales and increase turnover.

In general, it should be noted that the costs of funds and other resources do not exist on their own. They always appear when you need to get some result. Based on this, it is advisable to first evaluate not the level of costs, but the relationship between them and the results obtained. Effective cost control requires the use of the total cost principle, otherwise costs can be reduced at a particular stage by simply moving them to another stage of the logistics cycle. For example, the purchase of cheaper raw materials leads to longer and more expensive processing, savings on transportation costs lead to higher costs for increasing inventory, etc.

All costs for the production and sale of goods should be considered integrally - as the amount that the consumer must ultimately pay in order to receive the goods and benefit from them. The buyer is not at all interested in how costs are distributed among the participants in the supply chain (publishers, printers, booksellers); he will buy a book if its price corresponds to his financial capabilities, and also corresponds to his assessment of whether the benefit he acquires in this product deserves the required financial expenditure.

This is an economic category in which the interests of sellers and consumers converge. For consumers, the price of a product is, first of all, an indicator of its consumer properties. For manufacturers, price is an estimate of the costs they have incurred and the level of profit they expect. Pricing issues are discussed in more detail in Section. 6.4.

In addition to the speed and power of cash flows received for goods sold, the movement of flows within the enterprise should be optimized. Here we examine the question of what money is spent on and how money is earned at the enterprise, in the context of its centers of responsibility. An enterprise's responsibility center is one or more structural divisions of a company in which financial flows that are important for the enterprise are generated. Typically, responsibility centers are divided into revenue centers and cost centers. For example, the main income center of a bookstore is the structural unit involved in the sale of goods on the sales floor; the cost centers are the transport service, warehousing, etc.

The speed of movement of financial flows is influenced by the speed of money passage in mutual settlements between enterprises: each commodity flow must have its own financial flow. For example, a publishing house (seller company), on the basis of a concluded sales contract, supplies a bookstore (buyer company) with the products it has purchased (material flow). The bookstore, carrying out the form of payment specified in the contract, pays for the supply of these products (financial flow) (Fig. 44).

As a rule, in mutual settlements, enterprises use funds accumulated in their bank accounts. In this case, the financial flow diagram should also include banking institutions (Fig. 45
).

The size, start and end time of the financial flow are determined by the terms of payment established in the purchase and sale agreement (for example, payment upon receipt of goods, payment after the sale of goods, provision of discounts, etc.). In this case, the purchasing company can use its own or borrowed funds for payment.

Since the bulk of settlements between manufacturing enterprises, suppliers and sellers of book goods are carried out by making payments through banks, an important factor is the speed of flows in banking institutions, i.e. level of financial and credit services. In addition to the speed of customer service, financial and credit services involve providing businesses with a variety of payment options, discounts and benefits, various forms and conditions of lending, etc. In this regard, it is important for book business enterprises to work with reliable banks that provide a high level of financial service.

Optimizing financial flows involves not only accelerating the financial cycle and maximizing the influx of funds (income), but also the effective management of earned funds - profit. After paying all expenses and paying taxes, the enterprise generates a net cash flow, i.e. the difference between positive and negative cash flows (between the receipt and expenditure of funds). It is spent on two main directions:

sent for consumption by employees and owners of the enterprise;

accumulates and increases the property of the enterprise.

Consumed part of profit is paid in the form of income to owners, bonuses and benefits to employees of the enterprise, and also goes to the social development of the team (improving social conditions of work and rest).

Capitalized (accumulated) part of profit sent to:

for the development of the enterprise through its expansion, creation of new directions and structures, modernization, and introduction of modern technologies. These costs should ensure an increase in income and an increase in the speed of financial flows at book publishing enterprises;

in external financing objects - investing in new enterprises, providing loans, purchasing shares, securities, etc.

There must be a certain optimum between the consumed and capitalized parts of the profit, which changes at different stages of enterprise development.

The bulk of capitalized profits goes to investments. Investments are the placement of funds in various projects with the aim of increasing invested capital and generating income. Increasing cash flows in the future is the main goal of investment activities.

Before investing funds, it is necessary to develop a business plan for the project being invested. A business plan is a document that characterizes the main sources of financing for the project, marketing, personnel, technological aspects of its implementation, as well as its financial efficiency. It is presented to investors and gives them the opportunity to familiarize themselves with the planned results of the project, payback periods for investments, guarantees of their return, etc.

As a result of optimization of financial flows, financial stability of the enterprise, i.e. stable availability of financial resources sufficient to fulfill financial obligations, the company's ability to finance its activities, long-term financial balance. Financial stability is achieved through the stable maintenance of a competitive level of profit, ensuring the expanded development of the enterprise and the implementation of the goals of its activities.

In modern concepts of logistics, the development of relationships between an enterprise and its partners and its behavior in the external environment are of great importance for the effective functioning of logistics chains for promoting book goods to consumers. One of the main factors in business relationships is financial logistics, which ensures the timeliness and efficiency of financial relationships, mutual settlements with partners, clients, government agencies, investors, borrowers, founders, etc. Accuracy, timeliness, stability of financial relations create a positive financial image not only from the company’s partners, but also from possible investors, competitors, and government agencies. Improving the financial image of the company ensures an increase in the price of its shares, and, consequently, an increase in external sources of financing. As the stock price rises, the firm's weight in the business world increases, and it becomes more difficult for competitors to absorb it by buying up shares.

The financial image of a company consists of the following aspects:

fulfillment by the enterprise of financial and other obligations to suppliers, clients, creditors, the state, etc.;

compliance of the mission and goals of the company with the needs of the market, the needs and interests of consumers and partners, legislation and moral standards and principles of business activity;

quality of financial management (ensuring high rates of enterprise development, financial stability, etc.).

Financial logistics is a system of management, planning and control over financial flows based on information and data on the organization of material flows.

Financial flows are understood as the directed movement of funds or resources in logistics systems and between them, necessary to ensure material and information flows.

Financial flow is the directed movement of financial resources associated with the movement of material, information and other resource flows both within the logistics system and outside it. Financial flows arise from reimbursement of logistics costs and expenses, attraction of funds from financing sources, reimbursement (in monetary equivalent) for products sold and services provided to participants in the logistics chain.

The task of managing financial flows in logistics systems is complete and timely provision of volumes, timing and sources of financing. These funding sources must meet minimum price requirements.

Financial logistics faces the following tasks:

studying the financial market and forecasting sources of financing using marketing techniques;

determining the need for financial resources, selecting sources of financing, monitoring interest rates on bank and interbank loans, as well as interest rates on securities and government bonds;

construction of financial models for the use of funding sources and an algorithm for the movement of cash flows from funding sources;

establishing the sequence and links of the movement of funds within the business and project;

coordination of operational management of financial and material flows. First of all, costs are assessed, for example, for the delivery of goods by vehicle. The logistics manager builds material flows taking into account costs;

formation and regulation of free balances in ruble, foreign currency and budget accounts in order to obtain additional profit from transactions in the financial market using high-yield financial instruments;

creation of operating systems for processing information and financial flows.

The principles of financial logistics include:

self-regulation to achieve a balance between the flow of cash resources and the movement of material resources, production and minimization of production costs;

flexibility associated with the possibility of making changes to the financing schedule for the acquisition of materials necessary for the implementation of the finished product project and when adjusting the order conditions from consumers or partners;

minimizing production costs while maximizing short project implementation cycles;

integration of financing, supply, production and sales processes in a single project implementation body;

modeling the movement of cash flows from funding sources to project implementers with the circulation of free funds with maximum efficiency;

correspondence of financing volumes to the volumes of necessary expenses;

use of software and computer networks for financial management;

reliability of sources of financing and provision of financial resources for the project;

profitability (through assessment of not only costs, but also the “pressure” on these costs);

profitability when placing funds.

As you know, a key aspect of logistics activities is the management of material flows: the movement of raw materials, materials, semi-finished products and finished products. Each material flow that arises during the purchase of materials or sales of products, transportation or storage of goods is accompanied by a financial flow: investment of finance or compensation for the sale of goods.

When preparing and organizing logistics processes, in addition to planning material flows, it is necessary to calculate and think through financial flow patterns. Thus, in international relations, the choice of delivery terms CIF and FOB affects the distribution of costs of freight and insurance between the buyer and the cargo supplier. During transportation, costs for damage to cargo are borne by either the carrier or the supplier, depending on the contractual terms, the actual characteristics of the cargo, and the data of title documents. Changing the parameters of the warehousing system affects the safety and quality of the goods, and therefore the cost of services. Selling goods on your own, with the help of sales agents, commission agents or consignors, requires different expenses, provides different turnover of goods and the duration of the financial cycle.

For each scheme of movement of material resources, several options for organizing financial flows, varying in cost and risk, can be provided. Financial institutions, third-party enterprises, consumers, the state, and foreign entities are involved as investors and lenders, each of which offers resources on different terms. By calculating the moment when a financial deficit occurs, it is possible to attract resources in the required amount and within the required time frame and return them when sufficient income is received.

The choice of suppliers and sources of resources, methods of payment for services to carriers, the order of location of goods in the warehouse is also most rationally carried out according to financial parameters, since they ensure the comparability of heterogeneous estimates. You can assess the feasibility of refurbishment of a warehouse terminal by comparing the expected increase in cargo flow and revenue per unit of time with the size of the required investment. By comparing losses and income, the cost of hedging risks and the possibility of eliminating them, it is possible to construct such schemes for the movement of financial and material flows in which logistics costs will be optimal.

In order to fulfill production plans, deliver goods to their destination at the right time, and obtain sufficient income from consumers, financing plans must be met. The rising cost of materials forces us to attract additional sources of financing or change production technologies. A fall in the prices of bills accepted as collateral for payment for supplies can lead to loss of revenue and a breakdown in relations between suppliers and consumers. Control and adjustment of deviations in the parameters of financial flows are necessary both for individual participants in logistics activities and for the system as a whole.

The parameters of financial flows also serve as indicators of the well-being and sustainability of enterprises, indicate the effectiveness of logistics activities, and are necessary when planning and organizing relationships with counterparties. Thus, when drawing up the budget for the current year, they predict the size of future revenues and necessary investments, calculate profitability and profitability indicators, which are used in preparing financial statements, justifying the attraction of investments and loans, concluding contracts and agreements.

Financial flow is characterized by volume, cost, time and direction. Additional characteristics can be determined based on the specifics and needs of the enterprise and its place in the logistics system. The volume of the flow is indicated in its documentary, electronic or any other accompaniment in monetary units. The cost of a flow is determined by the costs of its organization, and time characterizes its availability for influence. Both the time and the direction of financial flow are determined in relation to the enterprise organizing it. There are incoming and outgoing flows in relation to participants in logistics relations. For example, receiving an advance payment is an incoming flow, and payment for supplies is an outgoing flow.

The characteristics of financial flows are based on information about the conditions, timing and nature of the relationships between participants in the logistics process, data on the parameters of resources and the movement of material flows. For all movements of funds from the enterprise to other participants in the logistics process (consumers and suppliers, between warehouse, port and customs terminals, at logistics junctions of transport flows), the time and volume of receipts and investments, the cost of credit funds are calculated, the directions of the resulting flows are determined, etc. characteristics necessary for flow control.

The concept of resulting financial flow is associated with several flows. Here we should introduce the concept of a financial transaction - a set of two or more interrelated financial flows. For example, attracting resources, investing them in production and receiving proceeds from sales is a financial operation consisting of at least three flows.

For financial transactions, parameters such as profitability and profitability are determined, showing how effective the impact on flows is. Based on financial transactions, you can determine a number of other parameters that are essential for managing financial flows. For example, for a distribution logistics center, in which the inflow and outflow of financial resources occurs unevenly, it is important to calculate the density of financial flow, which characterizes the intensity of activity and is determined by the volume of the resulting flow per unit of time. When organizing procurement, you can calculate the time gap between receiving information from the supplier (incoming information flow) and making an advance payment (outgoing financial flow).

Thus, financial flows perform a number of important functions in ensuring, accounting and coordinating the movement of resources in logistics processes. Financial parameters largely determine the economic viability of enterprises, stability in the market, and the strength of relationships with suppliers and consumers. It is difficult to overestimate the importance of financial flow management for logistics systems.

Introduction

1. Financial logistics

1.2 Main characteristics of financial logistics

2. Financial flow as the basis of financial logistics

2.1 Main characteristics of financial flow

2.2 Financial flow in transport logistics

Conclusion

Bibliography

Introduction

Currently, Russian enterprises operate in conditions of significant instability in the economic environment, which necessitates the search for highly effective methods and means of managing the activities of industrial enterprises. One of these methods is logistics, which allows you to reach a qualitatively new level of managing the material, financial and information flows of an enterprise in order to improve the final results of its production and economic activities and ensure a stable position in the market.

In the context of the transition to a market economy, increasing the efficiency of production and sales of products determines the need to identify and study logistics financial flows corresponding to the movement of commodity-material and commodity-intangible assets, which in the process of moving from one economic entity to another can be considered as a corresponding commodity flow. Moreover, its movement is due to the implementation of a number of logistics operations.

The transition to market relations, the expansion of the scale of economic activity, the increased need to strengthen all types of relationships in the processes of managing financial flows generated by sales commodity flows, determined the main requirements for new forms and methods of increasing the efficiency of managing the activities of enterprises, increasing the effectiveness of their activities, and improving the financial condition . The formation of financial flows of logistics at enterprises, the use of logistics principles and methods, will allow us to approach traditional problems on a new basis and increase the efficiency of their production and economic activities.

1. Financial logistics

1.1 The concept and essence of financial logistics

Financial logistics is the least studied area. This happens mainly for two reasons: for objective reasons, the transition to a market ideology in Russia lasted too long, when, as the market develops, scientists and practitioners gradually come to understand the critical role of finance in the logistics system; and subjectively, since financial flow management requires high professionalism and is associated with significant risks for each enterprise or company.

However, it cannot be said that Western “market experts”, whom domestic economists often rely on as a guide, have gone far ahead, although much earlier they began to study the main interdependencies between logistics and the financial goals of companies, as well as considering the share of supply chain management in the total cost of production company costs. And this is not surprising, since they have long been faced with the need for appropriate information to manage the investment process.

Speaking about the contribution of logistics to the profit of an enterprise, D.M. Lambert notes the need to analyze all logistics solutions both in terms of their cost efficiency and the benefits received.

The key factor here is customer service (logistics service) and its impact on profit margins. But he rightly warns that extremes should be avoided, in particular, providing a very high level of service without confidence that the client will appreciate the cost of such super service and be willing to pay for it.

The other extreme is to understand logistics solely as a source of costs and strive to reduce them in any way. According to the American economist M. Christopher, “reducing costs in any area of ​​business is a cost factor, but it is advisable only when it leads to increased profits.”

Financial logistics, he admits, also contributes to the efficient use of capital. Logistic variables significantly form the individual components of the balance sheet, namely:

Cash on hand and debt. Thanks to effective logistics management, shorter order fulfillment cycles are achieved: the shorter the cycle, the faster the cash flow from sales; The degree of order implementation is also important;

Inventories. The level of inventories in the form of raw materials, components, finished products is the result of the enterprise strategy in the field of logistics services and the effectiveness of the monitoring and inventory management system;

Real estate, fixed assets and equipment. Optimization of the distribution network, achieved thanks to the found correspondence of the location and parameters of distribution nodes to the structure of demand, can lead to the release of capital;

Current payments. Their level can be increased by limiting the volume and frequency of orders, which can be the result of implementing systems such as material requirements planning or distribution requirements.

Foreign experts are initially focused on the fact that the main goal of an enterprise should be to maximize its value, therefore, the enterprise strategy should be aimed at achieving this goal. And this, in turn, is impossible without the introduction of new management methods - management through value. To use this management method, it is necessary to determine which processes and to what extent form the value of this cost and what role logistics plays in this.

In determining the value of a firm, free cash flows play a major role, providing the basis for dividend payments to shareholders, rising share prices, and sources of financing for firm growth. The interest rate, the value of which reflects the cost of capital, is also important.

The analysis of domestic scientific publications, educational and methodological literature, training courses at various universities suggests that, unlike the West, in our business practices the fetishization of material flow continues and the reduction of logistics only to transport, warehouse, production, supply, sales, inventories .

Most existing definitions of logistics lack a clear definition of financial logistics. It is no coincidence that financial movement is considered by many only as accompanying the material flow. Although, it is quite obvious that the movement of finances is a serious limiter on the benefits of an enterprise and an active “lever” for managing material flows.

Perhaps this is why indicators for assessing the effectiveness of financial flows have not yet been developed. Attempts by a number of economists to reduce them to classical indicators of financial management are completely unfounded. Thus, the relationship, or rather the interdependence of financial management and financial logistics, is not revealed. As you know, financial management is the art of managing the finances of an enterprise. As for financial logistics (financial flow logistics), this concept is narrower and represents a set of methods, means, tools aimed at increasing the efficiency of financial flows.

The financial aspects of the functioning of logistics systems are poorly represented in the economic literature as key in ensuring optimal decision making. From this we can conclude that there is an acute shortage of methodological materials on financial flows. Among them: the basics of the theory of financial flow management in the logistics system; regulation of financial resource flows; organization of structuring, formation and management of financial flows in meso-, state and socially oriented logistics systems; financial flows in banking, stock exchange, and Internet trading systems.

The study of financial logistics issues requires remaining on scientific principles, which involve strengthening the calculation principle at all stages of financial flow management - from planning to analysis. This approach can be followed subject to specificity, which implies a clear definition of the specific result of the goal of moving the financial flow in accordance with the technical, economic and other requirements of the business entity, as well as the principle of constructiveness, which consists in continuously monitoring the movement of the financial flow and promptly adjusting its movement.

And finally, all financial logistics functions and the process of movement of financial flows must be performed with the maximum degree of automation, which is only possible if it is computerized.

It is important to keep in mind that, from the point of view of financial logistics, the progressiveness of economic systems is achieved not so much by increasing their material and technical base, but by improving its provision with financial resources.

The implementation of these principles leads to a reduction in the costs of storing and moving material resources and finished products, an increase in balance in the management of the economic activities of transport systems, and the rhythm of the functioning of structures and divisions included in the financial logistics system. In addition, the principles of financial logistics make it possible to improve the methodology and improve the quality of organizational design, to provide a systematic approach to the design of regional transport systems.

The basic principles of financial logistics must be supplemented by the principles of marketing, management and other scientific and applied disciplines that synthesize the theory and practice of logistics.

A study of available materials and literature also gives reason to conclude that cost is interpreted by management personnel and top managers of a number of enterprises exclusively as part of the taxation process. Therefore, the cost factor is not used as an objective criterion for increasing the activity and competitiveness of the main production.

Flow management can be considered effective if it allows you to automatically solve the main production and economic tasks of an enterprise. These include: coordination of production and financial plans, establishment of the required level of inventories, volumes and timing of required resources. By influencing flows, it is possible to provide the logistics system with financial and material resources, attract and return funds, and distribute them according to areas of use. The functions of flow management should also include monitoring the compliance of the parameters of financial and material flows, their impact on the efficiency of logistics activities, and checking the optimality of resource flow patterns.

When managing the movement of financial and material flows, one must strive to both save resources spent on impact and maximize the final result. If possible, it is necessary to ensure that one control action changes the parameters of as many threads as possible. In this case, problems will be resolved as quickly as possible and at the lowest cost.

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Financial logistics is the management, planning and control of financial flows based on information and data on material flows.

The object of control is the logistics financial flow.

Financial flows are understood as the directed movement of funds or resources in logistics systems and between them, necessary to ensure material and information flows. Financial flows in the logistics system are called logistics financial flows.

Logistics financial flows arise when reimbursement of logistics costs and expenses, attraction of funds from financing sources, reimbursement (in monetary equivalent) for products sold and services provided to participants in the logistics chain.

The main goal of financial services for commodity flows in logistics is to ensure their movement with financial resources in the required volumes, at the right time, using the most effective sources of financing.

To achieve this goal, financial logistics solves the following tasks:

• - studying the financial market and forecasting sources of financing using marketing techniques;
• - determining the need for financial resources, selecting sources of financing, monitoring interest rates on bank and interbank loans, as well as interest rates on securities and government bonds;
• - construction of financial models for the use of funding sources and an algorithm for the movement of cash flows from funding sources;
• - establishing the sequence and links of the movement of funds within the business and project;
• - coordination of operational management of financial and material flows. First of all, costs are assessed, for example, for the delivery of goods by vehicle. The logistics manager builds material flows taking into account costs;
• - formation and regulation of free balances in ruble, foreign currency and budget accounts in order to obtain additional profit from transactions in the financial market using high-yield financial instruments;
• - creation of operating systems for processing information and financial flows.

Financial logistics is part of financial management and is manifested in the functions it performs, such as reproduction, distribution and control. Their scientifically based characteristics are necessary for the effective organization of financial flow management.

The reproduction function ensures the balance of inventory and financial resources while minimizing production costs throughout the logistics chain.

The forms of manifestation of the reproductive function are the efficiency of using fixed assets, profitability and liquidity, the validity of attracting investments and loans by participants in the logistics process.

The distribution function consists of the formation and use of funds, maintaining their effective structure in the logistics system and is aimed at solving problems related to the rationalization of existing and attracted resources, reducing losses from attracting third-party sources, increasing liquidity and turnover of financial and material assets.

The control function consists of monitoring compliance between the movement of material and cash flows in the logistics system, the state of liquidity and solvency and the financial independence of its links from external sources of financing.

Financial flow management is based on the principles of planning and consistency, target orientation, diversification, and strategic orientation.

Planning and consistency means the condition for balancing material and financial flows. Financial logistics in this case has an internal orientation. Elements such as self-sufficiency, self-financing, material and property liability, and material interest are considered as a universal way to regulate the activities of logistics system links and elements of the supply chain.

Target orientation requires that the organization of financial flow management takes into account the goals of each participant in the logistics process, in particular: compliance of the volume of financing with the volume of necessary costs, reliability of sources of financing and provision of the logistics process with financial resources, profitability when placing funds.

Diversification - implies versatility in work, a combination of various combinations of manufactured goods, forms of payment and types of activities. Only such conditions ensure stable income and increased profitability, reduce the risk of bankruptcy and increase the competitiveness of the logistics system.

Strategic orientation is expressed in the fact that achieving the goals that participants in the logistics process strive for is determined by the development strategy. The task is to deny those decision-making options that may contradict the main goals. Financial management in this situation consists of identifying the limits to which production can expand, forecasting innovative development options, and choosing new areas of financing. Without this, a stable market position and development of the logistics system are impossible.

The implementation of these principles leads to a reduction in the costs of storing and moving material resources and finished products, an increase in balance in the management of the economic activities of transport systems, and the rhythm of the functioning of structures and divisions included in the financial logistics system.

To date, logistics as a practical activity has steadily occupied its niche in the management of modern enterprises. The logistics approach to the management object, logistics tools and methods are used in a wide variety of areas of management. The presence of a logistics department in a company is no longer something unusual, but is considered as an obligatory component of the organizational structure of a successful enterprise. The area of ​​competence of specialists in the field of logistics covers the management of a wide variety of objects - document flow, human flows, information, financial and, of course, inventory. It is the management of inventory flows and their optimization that are the most common management tasks in commercial enterprises. logistics financial system

In economic practice and in the theory of economic relations, the use of logistics terminology in supply, production, warehousing, distribution, inventory, and transport has become customary. Undoubtedly, the logistics approach is most in demand here. It has been studied quite well and is supported by a large number of publications. Scientific and practical conferences are held regularly, their issues are widely covered in economic periodicals and presented in special educational programs.

Relatively new industry areas of logistics have also appeared - trade, industrial, banking, construction, customs, tax, international, commercial, city logistics, service, hotel, restaurant, tourism business, etc. And financial flows play an important role in economic practice and are integral part of financial logistics.