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Integrated modeling and optimization of material flow and financial flow of supply chain network considering financial ratios

The reviewing process of this paper was handled by Associate Editors A. (Nima) Mirzazadeh, Kharazmi University, Tehran, Iran and Gerhard-Wilhelm Weber, Middle East Technical University, Ankara, Turkey. This paper was for the occasion of The 12th International Conference on Industrial Engineering (ICIE 2016), which was held in Tehran, Iran during 25-26 January, 2016

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  • In today's competitive environment, businesses are searching for tools and instruments, using which they can reduce their costs as much as possible in order to increase profits. The supply chain as a process which requires comprehensive management can be a great help in this regard for companies. The majority of approaches evaluated in supply chain primarily deal with logistic and material flows and neglect a lot of financial dimensions. This is while the financial flow in the supply chain can play an effective role in improving and optimizing the chain and contribute heavily to the profitability of the business. This paper deals with the financial flow of the supply chain model along with the material flow. It indicates that while optimizing the financial flow will provide the maximum profit for the plant, through simultaneous modeling of both these flows, better results can be reached. On the other hand, optimizing the financial flow allows the financial factors to be also considered in the model, which helps the business reach higher profits and better management of financial processes, which in turn shifts the business towards a modern industrial unit.

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  • Figure 1.  The Selected Supply Chain

    Figure 2.  Trend of Changes in Exogenous Cash and Accounts Receivable during the Time Periods $ t $

    Figure 3.  Liabilities in Time Periods for both Financial and Material Flows

    Figure 4.  Cash in Time Periods for both Financial and Material Flows

    Figure 5.  Income from Sales in each Time Period

    Figure 6.  Net Profit in each Time Period

    Figure 7.  Return on Sales in each Time Period

    Table 1.  Results Obtained from Solving the Model

    $\Delta SA$$\Delta LA$$\Delta SL$$\Delta LL$$\Delta E$Profile
    Financial flow544349105790285000678639301233
    Material flow51384069600285000549300380341
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