Financial Security Management in Central Units of Purchasing Groups

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Abstract: Optimization of financial resources and funding sources is a guarantee of financial security. Enterprises need financial resources to develop. The conditions of the pandemic, even more than regular competition, show the problems resulting from the lack of financial resources, and the lack of adequate financial reserves makes it difficult to start after lockdown. In recent years, SMEs have merged into multi-entity organizations to improve their financial security. These organizations are managed by specially created central units (purchasing groups). If the central units run into financial difficulties, numerous companies operating within purchasing groups will also be at risk. The aim of this article is to assess the approach to financial security of purchasing groups depending on the location of the central unit. The analysis was conducted on a group of 9 central units making up the largest purchasing groups in the construction industry in Poland. They were divided into two groups into internal and external central units. The conducted analysis identified financial security management strategies as quite risky, which requires some changes, which are presented in the article

WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 17, 2020, Art. #89

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Grzegorz Zimon, Krystyna Kmiotek, Marcin Jurgilewicz, "Financial Security Management in Central Units of Purchasing Groups," WSEAS Transactions on Business and Economics, vol. 17, pp. 910-920, 2020, DOI:10.37394/23207.2020.17.89
Grzegorz Zimon, Krystyna Kmiotek, Marcin Jurgilewicz. Financial Security Management in Central Units of Purchasing Groups. WSEAS Transactions on Business and Economics. 2020;17:910-920. 10.37394/23207.2020.17.89
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