THE MODELS OF THE ENTERPRISE CASH-FLOW OPTIMIZATION

There were explored the essence and the economic nature of the enterprise cash-flow optimization. Main approaches of the cash-flow optimization also were investigated and main ways of cash-flow management were grounded. Based on elaborated mathematical models of the net cash-flow in the optimization process, there were discovered next cases of its behavior: approaching to zero or given value, its deficit or surplus. There was explained the unsuitability of the cash-flow approximation to zero value, instead the policy of targeting to scheduled balance (based on Miller-Orr’s model in conditions of uncertainty) was suggested and justified. Methodical approaches to budgeting as a factor of the enterprise cash-flow optimization were developed (in cases of surplus of the net cash-flow). The receipts protection factoring mechanism as a factor of increasing the cash-flow value was improved and valued (in cases of the net cash-flow deficit). Given models of the cash-flow optimization were justified based on mathematical analysis of financial statements of the NKMZ corp.