WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 16, 2019
The Impact of Quality Management Systems on Financial Liquidity in Companies in Group Purchasing Organizations
Authors: ,
Abstract: Financial liquidity is currently the most important area of business management. Its lack is the first step towards bankruptcy of a company, Therefore, small and medium-sized enterprises work together as part of multi-stakeholder organizations to improve the level of financial liquidity. In general, financial liquidity management is considered in terms of profitability and liquidity. Liquidity management is short-term management which is based on a systematic control of individual elements affecting its level. The introduction of standardized quality management systems should be a great facilitation for the liquidity management control process. Literature often includes information on the impact of quality on the production process and on the financial performance of manufacturing companies. Information on the impact of quality management on the functioning of commercial enterprises operating in branch group purchasing organizations is not often found. The aim of this paper is to present the impact of quality management on the level of financial liquidity of SMEs operating in group purchasing organizations.
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Keywords: financial liquidity, quality, group purchasing organization JEL Classification: G30,G33,L15
Pages: 163-170
WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 16, 2019, Art. #19