Based On The Value Chain Under The Perspective Of A Steel Company Working Capital Management Research

In the current economic situation,if the company wants to achieve further development and obtain greater profits,it is necessary to increase its share in the market,that is,to enhance competitiveness,and the first condition for enhancing competitiveness is to have sufficient funds.Therefore,effective working capital management is a necessary means for the company to improve its operating level,and it has a profound impact on the company’s value creation.Chinese scholars have many different opinions on the management of working capital.Value chain management as a new concept has been widely applied to the management of working capital,the working capital management method based on value chain theory is paid more attention by management,and the new working capital management mode based on value chain perspective is applied in the company management,it can better manage the company’s working capital and improve the turnover efficiency of funds,so as to realize the value-added of funds and maximize the value of the company.Therefore,this thesis combines the value chain management theory and working capital management to study the working capital management model of A Steel Company based on the value chain perspective,and hopes to improve the management fund management level of the company.This thesis selects the representative A Steel Company in China’s steel industry as the research object,and analyzes the company’s working capital management.First of all,the current situation of working capital management of A Steel Company is studied from the aspects of working capital composition and management effect.Then,the problems of working capital of A Steel Company are discussed from the internal and external value chain.Internal value chain mainly manages the working capital of the company from the aspects of procurement,production,sales,financing and investment.The external value chain mainly manages the working capital of the company from both suppliers and customers.Analysis showed the company in the aspects of working capital exist the following problems: high cost of purchasing channels is not reasonable to cause the inventory backlog,blind production,sale product by the regional restrictions,financing risk,investment is not reasonable to take up a lot of money,lack of reasonable supplier selection system,to balance customer recovery ability is weak.Aimed at these problems puts forward the following suggestions: the public bidding mode can improve the competition power of suppliers with purchasing,through manufacturing according-to-sale can reduce inventory,the development of overseas sales channels,broaden the financing channels to ensure sufficient cash and increase the investment of high value-added products,suppliers through both short-term and long-term standard selection,intensify to customer accounts receivable comprehensive clean up and improve the management of working capital management attaches great importance to the construction,improve the working capital management information system,perfect the system of two-gold-voltage-controlled work responsibility,hope these suggestions can help improve the company’s working capital management system and improve the company’s working capital management level.