A Framework for Examining and Improving the Accounts Payable Process in Construction Open Access

[摘要] This research focuses on the accounts payable function in construction firms. The cash conversion cycle includes accounts payable and accounts receivable support functions. Research objectives focus on mapping the existing accounts payable processes in construction, building a model to represent this process and validating the model. The map is able to calculate process cost and cycle time, and demonstrate the feedback loops present in the verification process. A computer simulation model using the Simphony.NET framework is built on this map. Once validated, the model provides a system for sensitizing key input variables to see their effect on outputs, such as processing cost and cycle time of invoice approval. Finally, a case study using the model is presented to demonstrate the model’s ability to facilitate sensitivity, scenario and financial analyses. A firm in the steel manufacturing sector provided access to project managers and accounting professionals, in addition to project data.

[发布机构] University of Alberta

[效力级别] Construction