Dell Working Capital

In: Business and Management

Submitted By danielauza
Words 394
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Pregunta 2 El crecimiento en ventas de 1995 a 1996 fue de 52% y acompañado de un ciclo de conversión de efectivo cortos (cerca a 6 semanas) permitió a del financiar su crecimiento con recursos propios (reinvertir efectivo o utilidades para necesidades de capital de trabajo). Además hay que mencionar que el precio de los componentes de un PC iba bajando 30% a medida que aparecían nuevas tecnologías y como Dell tenia un sistema de fabricación a pedido, no acumulaba inventario de componentes de la misma manera que la industria, de esta forma sus costos incurridos en componentes individuales (cerca a un 80%), se iría reduciendo el costo de su inventario. También en 1996 el margen neto de ganancia subió a 5.2% de 4.1% del año anterior y el pasivo circulante incrementó en 187MM. Todo lo mencionado demuestra que Dell pudo autofinanciar su crecimiento y que no tuvo déficit de financiamiento. En Síntesis, el saldo de capital de trabajo de 1995, mas el aumento en pasivo circulante, mas las utilidades esperadas de 1996, son suficientes para financiar el capital de trabajo del 1996: Necesidades para 1996 según 1995 | Según proyección | | | | | | Capital de Trabajo | $1,094 | | | | | Disponible de 1995 | | Capital de Trabajo | $718 | | Pasivo Circulante | $187 | | Utilidad Operacional | $227 | | | | | | | | Neto | | | | | | Capital de Trabajo | $-38 | |

Si las ventas creciesen un 25% o un 50%, la empresa podría financiar internamente, al igual que el año anterior, su aumento en necesidad de trabajo. Necesidades para 1997 según 1996@25% | Según proyección | | | | | | Capital de Trabajo | $1,273 | | | | | Disponible de 1996 | | Capital de Trabajo | $1,018 | | Utilidad retenida | $570 | | Utilidad Operacional | $340 |…...

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