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Abstract
Working capital is designed to provide enterprises with financial security. Its level depends on the strategy of managing individual elements of working capital. An appropriate management strategy allows companies to obtain added working capital. Working capital management is a difficult process as it concerns both current assets and current liabilities. Therefore, company managers are constantly looking for solutions, methods and tools that will help them to manage their working capital. A quality management system is the one that facilitates control over the management of individual elements that create net working capital. The introduction of appropriate procedures derived from quality management systems in specific areas is a great support for creating a positive net working capital. The aim of this paper is to show how the introduction of quality management systems can positively affect the level of working capital. The article presents how quality management systems allow for optimizing the level of individual components, creating a positive net working capital. The research was carried out on a group of 102 Polish small trading companies operating in the same industry. The enterprises were divided into two groups of companies applying the quality management system and of those that did not use such systems. Based on the financial statements for the years 2017–2019 and by means of appropriately selected financial ratios, an analysis of the impact of quality management systems on net working capital was carried out. The results in some areas of management of individual components of net working capital in different groups of enterprises were compared. The research was carried out with the application of appropriate statistical methods. The analysis showed that enterprises using quality management systems managed working capital more efficiently. In the literature, the subject of the impact of quality management systems on working capital is not popular. This paper may be a source for further, extended research and considerations regarding the impact of quality management on the level of working capital in enterprises.
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The Link between Business Process Management and Quality Management. JOURNAL OF RISK AND FINANCIAL MANAGEMENT 2020. [DOI: 10.3390/jrfm13100225] [Citation(s) in RCA: 4] [Impact Index Per Article: 0.8] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 11/16/2022]
Abstract
In an environment of intense globalization and digitalization, business organizations are increasingly faced with various challenges such as rising costs, strong competition, rapidly evolving technologies, increasingly demanding and whimsical consumers, and, in social terms, changing societal demands. It is within this context that the effectiveness and efficiency of the management of business organizations is actualized. The paper addresses the following fundamental questions regarding the scientific problem at the theoretical level: What is the place of Business Process Management (BPM) in the context of Quality Management (QM)? Should BPM be the axis of QM? There is a lack of interdisciplinary research on the link between Business Process Management and Quality Management, and this study aims to ground this link. Methods of the research are literature review and the critical analysis of the scientific sources on the issue. The findings show that there exists confusion, overlaps among different paradigms of QM and BPM. The BPM paradigm might be considered as an integral part of almost all essential quality management paradigms. BPM is like a horizontal area “crossing” different paradigms of quality management (e.g., TQM, SMS, Lean, Six Sigma). The conclusions drawn are useful for organizations that implement quality management systems. The integration of BPM into quality management systems and tools creates preconditions for the development of an effective and efficient organization.
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Aamer AM, Al-Awlaqi MA, Mandahawi N. Insights into the reasons behind the limited implementation of ISO 9001 certification: empirical evidence from Yemen. TQM JOURNAL 2020. [DOI: 10.1108/tqm-04-2020-0068] [Citation(s) in RCA: 3] [Impact Index Per Article: 0.6] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 11/17/2022]
Abstract
PurposeWhile ISO 9001 standard certification is approaching saturation in developed countries, other nations are still struggling with the implementation of ISO 9001. This study provides insights into countries with a very low number of registered certifications to understand the reasons behind the limited implementations, more particularly using evidence from Yemen. The objective of the study is to assess: the awareness, understanding, motivations, barriers and the benefits of implementing ISO 9001.Design/methodology/approachA survey was conducted to measure awareness levels, understanding, driving factors, barriers and the benefits of ISO 9001. Data collection was carried out through the classification of targeted firms into two separate categories, certified and noncertified organizations. The classification of firms was conducted to enrich the understanding from two different perspectives. A total of 72 responses, from companies ranging in size from large to small, and in both the private and public sectors, were analyzed using the descriptive and multiple correspondence analysis (MCA).FindingsThe data analysis showed that the limited implementation of ISO 9001 certifications could be due to several internal and external factors such as the relatively low awareness level of the certification and guidelines, and the inconsistency of understanding the certification purpose. The benefits focused solely on improving the quality of systems efficiency and increasing quality awareness, and not on internationalization.Research limitations/implicationsThe findings of this work provide the groundwork for decision-makers to understand the drivers and challenges of ISO 9001 to plan corrective actions and contribute to promote and increase the number of certified organizations in similar countries and economies. While the data in this study were collected in the context of one country, the methodology and framework used in this study can be utilized by other researchers to collect data in similar countries with a low number of ISO 9001 certifications.Originality/valueThis research is one of the very few that addresses the limited implementation of ISO 9001 in the Middle East and North Africa region and Yemen in particular.
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The Influence of ISO 9001 & ISO 14001 on Sustainable Supply Chain Management in the Textile Industry. SUSTAINABILITY 2020. [DOI: 10.3390/su12104282] [Citation(s) in RCA: 15] [Impact Index Per Article: 3.0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 11/17/2022]
Abstract
The examination of implementing ISO standards can provide new insight as to their quality and environmental management benefits. These insights can be more impactful in manufacturing sectors and especially textiles as this sector is known for its environmental degradation and questionable supply chain practices. This exploratory study investigates the extent to which organizations that implement either ISO 9001 or 14001 standards impact sustainable supply chain management (SSCM). We also investigate the extent to which these two standards improve SSCM for the textile industry within a block of European countries consisting of Poland, Slovakia, and the Czech Republic. In this empirical study, we use several measures to help identify the extent of impacts of examined standardized management systems on improvements in different processes of SSCM. Our contributions to the field include finding that quality management systems support environmental processes, relationships with stakeholders, processes within the supply chain, and SSCM. Other findings include implementing environmental management system standards impact the rationalization of other processes. Finally, we find more significant supply chain impacts with the implementation of both standards than by either standard alone. The study concludes with suggestions for extension of this study and opportunities for further research.
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