Research On Working Capital Management Of Company Tsingtao Under The Value Chain Guidance

With the new wave of highly integrated economy coming,the competitive environment of company has undergone tremendous changes, the business managers increasingly recognize the importance of working capital management, Working capital is the blood of company,deeply affects the production and development. But if company just pays attention to the best holdings of individual projects in current assets and current liabilities, it will result in the separation of working capital management. This is not conducive to a comprehensive analysis of the causes. As the traditional theory of the working capital management has inevitable defects, it is not fully adapted to the new situation,in the practice of our working capital management, in order to gain a competitive advantage and win market,it is necessary to introduce the value chain theory.The value chain management is the integration and coordination of the various business activities, Through the value chain, various business activities constitutes an organic whole interrelated. so the value chain is a powerful tool to explore the competitive advantage. In order to survive and development, enterprises have to carry out research in the value chain and adjust business strategy to make efficient allocation of resources, Pursue the better use of funds to stimulate efficiency and create value. However, the size of the value chain competitiveness depends on the weakest link in the strength of the value chain. In order to improve the core competitiveness of enterprises, we must strengthen the management of this link, and that is to say optimization of enterprise capital operation efficiency. Because of capital as the leading enterprise is the key elements in the future growth, it influences the lifeblood of the enterprise and it is the weakest link in the entire value chain. However the effective management of working capital is the focus of the company’s funds management, which requires managers improve the operation efficiency of working capital from the perspective of value chain.The theory of value chain management theory and management of working capital are combined in this paper. The enterprise value creation is realized from the strategic level of working capital management efficiency, high benefit and enhancing core competitiveness.This paper is based on normative research and case research, with the study of the value chain, this paper research in the corporate working capital management and performance evaluation methods in the current, introduce the innovative value chain management to guide enterprises working capital management. In this paper working capital management and performance evaluation is not limited to a single financial items, but focus on various business activities in the entire value chain, Through the details of the value chain, practical efficiency of working capital management can be extended to be optimized. Through case studies of Tsingtao Brewery, Innovative approaches are summarized in working capital management, and put forward their views about how to establish a sound performance of analysis system, This paper, gives a detail description on the implementation of the theory to the enterprise performance improvement and proves the necessity of carrying out the method through the analysis of specific data, further summarizes the company’s successful experience in order to provide reference for other companies.