1’2012 [17]. , 3.3. , - , [7]. . 2007» [2] . 1. ., ( »), . logistics - , ., ., « , ; , ; , ., . 2. ., ( . logistic, »). 1) . logos « », « - , . 2) ( ( ) ) . . - , . . , - (EOQ) . [8, . 134], , . - , , , . . [10] , - , , - . : [14]. , , - , ; . . : - economic production quantity (EPQ); . - . EBQ (economic batch quantity); ; . . (EOQ). EOQ : - ; - . ; 1. ; . « » [21] . - EBQ. 1904 . - , . EPQ. 1934 . System of Logistic, « » [9]. 1995 . « .« », , , 0 , - , » : - , . , - - , ( , , ), - ., ., . , , [19, . 127]. - . , . . , , , , . ( . 1). , , - - , , , - , . . ( - , , - ) , [13]. . - , , - [15, . 333-387]. ( . - . , ) , . , (« ») - , , , . , - . . [6, . 41-68]. . - . [5, : . 41-68]. - . , , [16] , . « , . , » , - [4]. , . . . . . . - , [11]. - . . - , : « » « , - ». « [3]. , » [1], « - . », , - , - , [12, . 90]. ( , - , , , . ). . . - , . , 1 1’2012 . 1. ( , ) , , - . , t, . 1 T F 0 T : T * 2 max , T q Ch q 2 0 , . : q C . t (1) 360q . D (2) , - [3, . 52]. – q– – – E– 0 – , – , ; , .; , , ,% .; ). . : 1 E q; , t 360 , . , , . . 1. MS Excel , - . .2 h 2 », 11 - . t - [3, . 53]. . . 0 (3) , , . - .; – q, , ; T , h , .; - OFt – , IFt – ). t - ., ., . 1 , , . . q , . , C0 , . , , - D 90 C0 20 C 100 C 0 . . ,% ,% 2. Ch 150 20 E 0,1 E . Cs(t) – CS ( t ) q C 0 q Ch 0 (4) q2 , 2D 0,15 q, k , t: - , 0,3 Cs(t) CS ( t ) : q 0 0 q C q Ch q2 2D 1 1 q 2D , (5) – , . , , , : q Ch . 2D 0 q (6) Cs(t) - T), : . 2. n EOQ t 1 .) CS ( t ) 1 , (1 E )n n– , - . , n , - . : D q , 1 T 360 . t . - , - ( ). : , , ( t): CS (1 ) 1 E 1 Et ... q 2D . , - CS ( n ) 1 E (1 Et )n Et – . , (9) q 2D , t, % 1 E q 2D D q t 1 , . - , CS ( t ) D . t, (10) (1 Et ) q , , , ... : , , q 2D CS ( 2 ) 1 E (1 Et )2 , » « (8) Cs(t) , , (7) CFd Cs(t) t = (1,2,…, n): 3 1’2012 CS (1 ) 1 Et CFd ... CS ( 2 ) (1 Et )2 , ... , - (11) CS ( n ) . (1 Et )n . (11) CFd 1 Et , . , (1+Et): CS (1) CS ( 2 ) (1 Et ) - t. . CS ( n ) (1 Et ) n , (12) 1 . - : CS (1 ) CS ( 2 ) CS ( n ) (13) CS ( t ). : CS ( t ) (12) (11) q C : CFd Et CS ( t ) . (1 Et )n CS ( t ) (14) , - Et , CS ( t ) (1 Et ) 1 0 Et (1 Et ) Ch q : CS ( t ) 0 q C - 0 t: q 2D (1 Et ) 1 Et (1 Et ) D q n 0 : (24) q. Cs(t) (17) (1 E ). , - , : (25) : (18) (1 E ) . n (23) q2 . 2D , CS ( t ) 1 n 1 Et q Ch q 2D (16) . : 1 Et Ch q (15) CS ( t ) 1 E (22) (22) - D q q . 2D (21) (15) . D q , : : D q (21) q2 . 2D q Ch 0 , (14) CFd 0 (8) (18), q D 1 - . (25) , : q D 1 Et : (19) (1 E ) . (19) CS ( t ) 1 E - Cs(t) CS ( t ) 1 E ( 1 E q D q D (26) . 1)(1 E ) (5)): q 2D * , . 25 E * E * ( 1 E (16), ( q D (20) max . 1 )(1 E ) 20 ( ), - . . 15 10 , . , (20) , 5 0 (1) 0 . , 4 90 180 270 . 3. (EOQ) 1 , 360 ., ., , (24) . (26) , t, - . t 1). ( , . - .3 1. , . . , - , . - , . , [18, . 147]. (25). : (Cs(t)) q D CS ( t ) 1 E CS ( t ) * E * q D ( 1 E - kC q 1 tE . : q (27) 0 0 q C q Ch 1 )(1 E ) q2 2D 1 1 q D (28) . k– q, ; , E – , ,% : E CS ( t ) . (Cs(t)) ( 1 E (28) q D (29) . 1)(1 E ) (29) (24). t, . t - , t. (24) ( 3). - .5 3. (27) t , . 9 8 2). 7 6 5 4 3 2 1 0 0,0 31,0 60,0 91,0 121,0 152,0 182,0 213,0 244,0 274,0 305,0 335,0 , . 5. (EOQ) - , . 4. (EOQ) . 2 .4 - : COFt – ( 1 E , . E CS ( t ) t 2. 3 kC q 1 tE q D 1)(1 E ) (30) . 5 1’2012 Cs(t) , 3 , (28). . : t ( 4). . 6 - E CS ( t ) kC q 1 tE , q D ( 1 E 4. 1)(1 E ) (32) . . Cs(t) 6 (24), . t 6). - 5 ( 4 . 8 6. 3 2 , . 7 1 6 5 0 0,0 31,0 60,0 91,0 121,0 152,0 182,0 213,0 244,0 274,0 305,0 335,0 4 , 3 . 6. (EOQ) 2 4 , , t. 0 (Cs(t)) , (24). E CS ( t ) ( 1 E q D 1 3: 0 24 48 72 96 120 144 168 192 216 240 264 288 312 336 360 , . 8. (EOQ) (31) . 6 - 1)(1 E ) , . , t( 5). .7 ( - , . , 5. , - . ). .2 Cs(t) , 12 . - . - 10 . 1. MS Excel 8 , « », 4 - . 3. 6 , - , - , . 2 , 12 736,67 0 0 40 80 120 160 200 240 280 . 7. (EOQ) 6 , 5 320 , 360 . ., ., . 2 t (Cs(t)) - , 1 CS ( t ) 1 E 2 CS ( t ) 1 E 3 CS ( t ) E E ( 1 E ( 1 E q D 6 CS ( t ) kC q 1 tE ; CS ( t ) ( 1 E q D q 0 0 q C q Ch q2 2D kC q 1 tE 1 q D 1 ; 1 )(1 E ) q C q Ch E ( 1 E ; CS ( t ) 1 )(1 E ) 0 q D q 1)(1 E ) E 0 CS ( t ) ( 1 E q D q D ; CS ( t ) 1)(1 E ) E CS ( t ) 5 ( 1 E q D q D CS ( t ) 4 q D q2 2D 1 ; CS ( t ) 1 q D q 1 )(1 E ) E kC q 1 tE ; CS ( t ) q 1 )(1 E ) 3 , , - 1 2 - 3 4 - 5 6 , . q, 24,30 7,16 8,20 5,54 10,29 6,05 12 736,67 12 398,92 12 457,40 12 256,99 12 543,03 12 311,71 , , 4. . - , 3, , , , [8, . . . 468-470], . . ( . , , , , ( , , . 9). , , , - : - . . - 2; : 3, 4. . - - ), : 1 ROE; ROTA. 1; , ROE , , - 2; . 7 1’2012 . ROTA : 100%, , ROE (33) A 100% C (35) 100%, – - , – , , , , .; – , ROE ROTA ROTA ROTA A 100% qC – – , ROTA, ( .; , , . . ROTA . , q - ROTA ) - .4 , , EOQ. ( ). , , (36) 100%. (34) 100%, - (35) : . : ROE . : . 9. 4 ROTA , 1 , - 1 8 ROTA – , . 12 398,92 12 736,67 12 256,99 12 457,40 12 311,71 12 543,03 1 2 3 4 5 6 ,% . ROTA, % q, 7,16 24,30 5,54 8,20 6,05 10,29 . 1 840 542 2 370 1 608 2 171 1 285 ., ., 10. . ROTA . 10 . , - , . . ROTA . , - , , , , - , , . - , . - ROTA. . ( ROTA), - - . , . - . . . . , , 9 1’2012 ; 1. . , . . 16-17. . [ . – 2008. – // 2. ]. – 3. . . MBA). . // . / 4. . 5. . 2007 [ , 2006. [ ]: . , 2008. – 352 . – ( .: .– .: . – 2008. – 7. 2007. – 8. . - » . ( ]/ ?[ , . ] // . . , . .– - . ; .– ., 1998. – 227 . ]: . ./ , 2000. 386 . [ .– .: , . , . . [ . , - , (EOQ) . .– . 11. ). , : 1. – . 16. . 10. - , ] : / , 2001. – 133 . .– : : ]: / , 2001. – 159 . ]/ . 9. , 1. – . 39-40. . [ . , - [ .– 6. - ; » [ . ; ; ] / 2. – ] : , 2008. – 213 . .: - / , . ] / . , ( 12. // : VIII 2009 . : .) [ ]. – . 16, 17 . . 167-170. . . . .: . / ]/ . .– [ ] / - . , . . – 2007. – 5. – [ ] : . – 2.– . ). 14. / . 2008. – 448 . : 15. . ./ . 16. . . .–( .– . .… « », 2011. – 42 . . . .– . [ , 2008. – 528 . .: . // . 81-90. . : , / [ . – . ] : . [ .: ]: . , 1995. – 221 . « » / 19. . I . . . , 2010. – . 145-149. ..– . 3 : / : . . . ]: 20. . / . .– , 1997. – 192 . .: . . . 4. . / . . , . , 2005, XXXII. – 797 . [ ]/ . .– .: , 1987. – 590 . [ . – ; ; ; ]: . : . – 5- ; ; 10 ] // . 2010 . / - ]: . : [ . 21. .: , 1996. – 336 . . 13. 18. . , . ., ., . - . [ 17. .. . .: , 2009. – , : ; 3.3. INVENTORY MANAGEMENT MODELS BASED ON THE INTEGRATION OF FINANCIAL AND MATERIAL FLOWS IN SUPPLY CHAIN S.E. Barykin, Doctor of Science in Economics, Professor of the Department of Logistics and Organization of Transportation; V.V. Lukinskiy, Doctor of Science in Economics, Professor of the Department of Logistics and Organization of Transportation; S.A. Karpunin, Postgraduate of the Department of Logistics and Organization of Transportation Saint-Petersburg State University of Engineering and Economics (ENGECON) The use of inventory management models based on integration of financial and material flows allows you to find the optimal combination of supply of material resources as well as to minimize total logistics costs of the company. This paper presents a set of models for calculating the economic order quantity (EOQ), taking into account the time value of money and the order of payment of material resources. Investigated the analysis of the profitability of investment growth rate of money in stocks, which allows us to estimate the efficiency of the company`s assets in logistics business. ., ., . Literature 1. S.E. Barykin, V.V. Lukinskiy. Once again, the financial logistics // Logistika, 2008. – 2. pp. 16-17. 2. «Great Encyclopedia of Cyril and Methodius, 2007». [Electronic resource]. LLC «Cyril and Methodius», 2006. 3. G.L. Brodetsky. Inventory Management: Training Manual. – M. : Eksmo, 2008. 352 p. – (Complete MBA course). 4. A.G. Butrin. On teaching the financial logistics // Logistika. 2008. 1 (42). – pp. 39-40. 5. A.G. Butrin. Evaluating the effectiveness of flow processes of industrial enterprises: Monograph. – Chelyabinsk : Publ. SUSU, 2001. – 133 p. 6. A.G. Butrin. Flow processes of industrial enterprises : Monograph. – Chelyabinsk : Publ. SUSU, 2001. – 159 p. 7. Questions and answers. Logistic or logistic? // Logistika. 2007. 1 (38). – p. 16. 8. E.I. Zaitsev. Information technology in managing the operational efficiency of vehicles / SPbGIEA. – SPb., 1998. – 227 p. 9. Willard Van Orman Quine. Word and object. Translated from English. M. Logos, Praxis, 2000. 386 p. 10. V.V. Lukinskiy. Current problems of formation of the theory of inventory management: a monograph / V.V. Lukinskiy. – SPb. : SPbGIEU, 2008. – 213 p. 11. V.V. Lukinskiy, E.G. Alevra. On the formation of the optimal model order party taking into account the time value of money // Logistics: Current trends : VIII International Scientific and Practical Conference 16, 17 April 2009 : Proc. Reports. / Ed. number. : V.S. Lukinskiy (Ed.). [And others]. – SPb. : SPbGIEU, 2009. – pp. 167-170. 12. Y.S. Melkumov. The theoretical and practical guide for financial calculations. – M. : INFRA-M, 1996. – 336 p. 13. A.V. Mishchenko, M. V. Mogilnitskay. Dynamic model of management of production resources and working capital in the industrial logistics // Logistika i upravlenie tsepymi postavok. – 2007. – 5 (22). – pp. 81-90. 14. Models and methods of the theory of logistics: the manual. 2nd ed. / Ed. V.S. Lukinskiy. – SPb. : Piter, 2008. – 448 p. : il. – (Series «Manual»). 15. N.K. Moiseyeva. Economic foundations of logistics: A Textbook. – M: INFRA-M, 2008. – 528 p. 16. T.N. Odintsova. The methodological framework for the management of tourist service logistics system: Abstract. thesis. ... Dr. Econ. Science / T. N. Odintsova. – Saint-Petersburg : State Educational Institution «Saint-Petersburg State University of Engineering and Economics», 2011. – 42 p. 17. V.N. Pereverzev. Logistics: Handbook of logic. – M.: Mysl, 1995. – 221 p. 18. D.A. Polyunas. Formation of «lean» marketing strategies in an industrial plant / / Organization of lean manufacturing : a collection of articles of the participants I All-Russian ScientificPractical Conference, November 3, 2010 / Ed. M. Yu. Bogdanchikova. – Chelyabinsk : Publishing Center SUSU, 2010. – pp. 145-149. 19. V.M. Purlik. Market capital goods and logistics. Monograph. – M. : International University of Business and Management, 1997. – 192 p. 20. J.R. Stock, D.M. Lambert. Strategic logistics management: Per. from the 4th English. ed. – M. : INFRA-M, 2005, XXXII, – 797 p. 21. Dictionary of Philosophy / Ed. I. T. Frolov – 5th ed. – M. : Politizdat, 1987. – 590 p. Keywords Stock of cash; material flow; net present value; account the time value of money; economic order quantity; return on total assets; integrated logistics, financial management; financial logistics; flow control; synthesis models. 11