Research On Working Capital Management Of X Steel Company Based On Channel Perspective

Working capital is like the blood of business operations,and working capital management occupies an important position in corporate financial management and is the key to corporate development.Stabilizing the capital flow of an enterprise and doing a good job in the management of working capital determine to a certain extent the success or failure of an enterprise’s operation and even its survival.Traditional working capital management focuses on the optimization of capital structure and the determination of the amount of capital held.It is challenged because it is difficult to guide enterprises to make management decisions in a complex and changeable economic environment in a timely and effective manner.In recent years,the management strategy that combines working capital management and channel management has provided a new perspective for the theoretical research of corporate working capital management,making the research on working capital extend from the analysis and management of a single element to the company itself and upstream suppliers,covering The entire process of an enterprise from procurement,production to product circulation.This article draws on the advanced research results of domestic and foreign scholars on working capital management,reads related books,and expounds the related theories of working capital management,which lays the theoretical foundation for this article to study the working capital management of X Steel Company.First,analyze the current status of working capital management of X Steel Company from the aspects of working capital management system,working capital scale and structure,and find that it adopts factor-based management of working capital;secondly,conduct performance evaluation on X Steel Company’s working capital management level.Draw a lower level of working capital management,and analyze the problems and reasons of X Steel Company’s working capital management based on the channel perspective.Again design the working capital management plan of X Steel Company based on the channel perspective.Finally put forward the working capital management from the channel perspective The safeguard measures for the implementation of the improvement plan are hoped to be of reference value for the improvement of the working capital management level of X Steel Company,and to help X Steel Company’s sustainable and healthy development.The thesis research has the following findings: X Steel Company’s factor-based working capital management effect is not good.Based on the channel perspective,the company’s working capital management found that there are problems in each channel: In the procurement channel,found that the procurement cost was too high,the procurement strategy was single,and the overcrowding Pressure on upstream suppliers and non-informatized procurement: In the production channel,found that the inventory backlog of X Steel Company is mainly a backlog of products,and the production process is not strictly supervised,the quality of goods is uneven,and there is a long delivery time.In the sales channel,the blind relaxation of credit policies has led to a high proportion of accounts receivable,high risk of collection,narrow sales channels,no customer credit rating mechanism,and weak marketing profitability.The contribution of this paper is to abandon the single-factor performance evaluation index system adopted by traditional working capital management,change the situation of isolation and separation of various factors,and design the working capital management of X Steel Company based on the channel perspective,and propose safeguard measures,ultimately improve the working capital management level of X Steel Company.