The Working Capital Management Research Of M Corporation Based On The Theory Of Channel

In 2013, Europe and the United States's economy grow slowly and financial environment is unstable.China's economy had also been a greater impact. From the full year of 2013,affected by the slowdown in exports, weaker demand and overcapacity and other multiple factors, the economic downward pressure still exists; on the other hand, the beer industry concentration will be increasingly high,and the beer industry trend will continue oligopolistic competition. As an important part of the daily business of financial management,working capital management directly impact on the success or failure of business. The emergence of concepts and methods of the supply chain management, the channel relationship management and the customer relationship management broaden people's horizon to study working capital management.The paper take a comprehensive and systematic study of M company working capital management in the view of channel management.Firstly,we comprehensivly collect and elaborate the fundamental theory of the basic concept of the working capital,the conventional working capital management theory and the channel management theory;.secondly,by collecting its annual report, the company's website and other information,pointing out the basic situation and analyzing working mangement status of M company,we summarize the problems and deep-seated causes of their problems;thirdly,basing on the exting problems we design M Company's working capital management model respectively from the company for M procurement channels, production and distribution, sales channels and financial channels from the perspective of channel theory, the model not only takes the working capital projects into account,more importantly, taking the factors that affect working capital items into account and the thought of the channel management is melt into the model;and finally,we propose the safeguards for successful implementation of these model.This article is intended to provide guidance for the M companies to improve the efficiency of working capital management, while also providing references to solve the problem of working capital management for other companies.