Optymalizacja gospodarowania środkami pieniężnymi w przedsiębiorstwie ciepłowniczym z wykorzystaniem modelu Millera-Orra
Optimization of Managing Cash in the Heating Enterprise With Using the Model of Miller-orr

Summary/Abstract: The aim of managing cash is reducing their stores held in an enterprise to the minimum necessary to conduct a business. It is important to establish their optimal level, i.e. to which the biggest advantage of the benefit over costs accompanies. The enterprise of the thermal power industry “EMPEC” Ltd. belongs to the heating industry and creates and distributes steam for heat production. The industry functions in conditions of high seasonal character what justifies keeping financial sources protecting the period of low income. Additionally, repairs and modernizations and the accumulation of fuel take place mainly in the summer period, that is when the sales revenue show the lowest level. Economic legitimacy of administering cash in EMPEC Ltd. was examined with chosen models (among others Baumol’s, Berank’s, Miller-Orr’s); after all the last one was acknowledged as the most optimal solution.

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