Practical Finance for Operations and Supply Chain Management

Practical Finance for Operations and Supply Chain Management

Authors: Serrano, Alejandro & Lekkakos, Spyros D.

Publisher: MIT Press

ISBN: 9780262357241

Classification: Fiction

Synopsis: An introduction to financial tools and concepts from an operations perspective, addressing finance/operations trade-offs and explaining financial accounting, working capital, investment analysis, and more.

Students and practitioners in engineering and related areas often lack the basic understanding of financial tools and concepts necessary for a career in operations or supply chain management. This book offers an introduction to finance fundamentals from an operations perspective, enabling operations and supply chain professionals to develop the skills necessary for interacting with finance people at a practical level and for making sound decisions when confronted by tradeoffs between operations and finance. Readers will learn about the essentials of financial statements, valuation tools, and managerial accounting.

The book first discusses financial accounting, explaining how to create and interpret balance sheets, income statements, and cash flow statements, and introduces the idea of operating working capital—a key concept developed in subsequent chapters. The book then covers financial forecasting, addressing such topics as sustainable growth and the liquidity/profitability tradeoff; concepts in managerial accounting, including variable versus fixed costs, direct versus indirect costs, and contribution margin; tools for investment analysis, including net present value and internal rate of return; creation of value through operating working capital, inventory management, payables, receivables, and cash; and such strategic and tactical tradeoffs as offshoring versus local and centralizing versus decentralizing. The book can be used in undergraduate and graduate courses and as a reference for professionals. No previous knowledge of finance or accounting is required.

Watch the power of

Lightsail in action

×

SUPPORT GROWING READERS

Immediately Engage Students
Immediately Engage Students
Simple intuitive design has classrooms reading within minutes.
Exponentially Grow Reading Time
Exponentially Grow Reading Time
Students love the LightSail experience and naturally spend more time reading.
Accelerate Literacy Development
Accelerate Literacy Development
Students reading 25 minutes a day on LightSail are seeing 2+ years of Lexile growth in a single year.

LightSail Education is a comprehensive Lexile and standards-aligned, literacy platform and digital e-book library. Including multimodal learning functionality and featuring books from leading publishers, LightSail holistically assesses and nurtures each student on their reading and writing-to-learn journey, throughout elementary, middle, and high school.

LightSail Blog
Quick & Easy LightSail Tips to Help Prepare Students for Spring Testing
Quick & Easy LightSail Tips to Help Prepare Students for Spring Testing
Believe it or not, test prep season is upon us. With just a few adjustments to your normal LightSail reading block, you can use our platform to help students prepare… Read more
From Powwows to Potlatches: Creating a Native American Themed Unit in Rosen-LightSail
From Powwows to Potlatches: Creating a Native American Themed Unit in Rosen-LightSail
November was Native American Heritage Month. Did you know that more than five million people of Native American decent currently live in the United States? The U.S. is home to… Read more
Celebrating Hispanic Heritage & Culture
Celebrating Hispanic Heritage & Culture
At Rosen-LightSail, we are committed to celebrating diversity everyday. From September 15th – October 15th, we specifically celebrate National Hispanic Heritage Month by recognizing the contributions of Hispanic and Latinx… Read more

*LightSail offers a 2,000 or a 6,000 title bundle with its student subscriptions. Other titles are available for individual purchase.