Working Capital Management Pattern Studies Based On The Theory Of Channels

Working capital management is very important to the enterprise; its quality has affected enterprise's life and death directly. But at present domestic and foreign researchers do not have the new breakthrough to working capital management research, studying isolated various projects of working capital, but in the reality working capital management'achievements are improving continuously, This is mainly because of the widespread application of supply chain management, channel relationship management and customer relationship management in the past 20 years. Therefore, this article unifies working capital management and enterprise's business management, attempts to open one kind of new research angle of view embarking from the channel management studies working capital management, and this article will integrates supply chain management, channel relations management and customer relations management's ideas and the method into working capital management research, and preliminarily establish working capital management frame to focus on channel management, then we will use this framework to the management of working capital among listed companies, and impel theoretical and methodological innovation of working capital management system.This paper uses documents analysis, normative analysis and the case study method. Firstly, Review the related management theories---supply chain management, channel relationship management and customer relationship management, so as to provide a theoretical basis of this new model. On this basis, this paper opens a new classification method of working capital, which combines working capital classification and channel relationship management, supply chain management and customer relationship management theory. Secondly, this paper uses normative analysis for the factors, which influence the demand of working capital, it is necessary to analyze the impact factors of every channel working capital, and analyze the impact factors of all channel working capital, especially the impact factor of channel relationship management, supply chain management and customer relationship management. Finally, this paper will open a new working capital management pattern and performance evaluation system based on the channel theory, screening two enterprises (better working capital management and poor corporate in the same industry) to make comparative case studies. We have just adopted the establishment of the new working capital model to analyze these two enterprises, and apply this new working capital management model to practice so as to improve the working capital management level of enterprises.This paper has outstanding research achievements. Firstly, this article opens a new classification method of working capital based on the channel relationship management, which is different from the existing working capital classification methods. Original methods take apart all working capital, which are closely linked to each other, and phase out the working capital management and operation management. However this new classification combines the classification of working capital and channel relationship management, and improves working capital management from the perspective of supply chain management and channel management. Secondly, this paper opened up a new way of researching working capital management theory, combining the working capital management, the business management and channel management. This method abandons the previous study ways, which research single factor of working capital management in isolation and in a one-sided idea, but based on value chain management thinking: studying all aspects of working capital comprehensively and Associated from purchase to sale. And establish a working capital management model based on channel relationship management. Previous performance research of working capital management only research composition factors of the working capital while neglecting the influences of the supply chain management, channel relationship management and customer relationship management, however, this new model considers these factors and establish a working capital management pattern, which is combined with channel management.In short, working capital management model based on the theory of channels theory opens up a new idea of researching working capital management. This method can effectively improve the lever of and enterprise working capital management from the process of case analysis, and we hope that this paper will serve as a trigger for working capital management research.