Research On The Improvement Of Capital Management Of Yueyang Forest And Paper Manufacturing Limited By Share Ltd

With the constant development of the economic globalization,Chinese enterprises need to face the foreign competition and fight for the market share to develop their external strength,at the same time,the importance of operating capital management is highlighted gradually.Throughout our country macro-economic background,the difficult financing problem of our country's enterprises has become increasingly prominent.The purpose of this paper is to study how to improve and optimize the working capital management of large group enterprises,so as to improve their working capital management level.Traditional working capital management is the management of current assets and current liabilities.With the continuous improvement of the management level,the management of working capital is required to make full use of "free" or "no interest"sources of funding as much as possiable.At the same time,enterprises should reduce capital in the assets with low profitability as much as possible.Based on the system of the traditional working capital management theory,the modern working capital management theory and the key point of modern working capital management:three control policy.We select the Limited by Share Ltd of Yueyang forest and paper manufacturing enterprises as the research object to summarize the specific problems in the working capital management from the operating mode and demand of capital,accounts receivable,inventory,accounts payable and company strategy.In view of the existing problems,we put forward combing customer credit quality,adjusting and optimizing the company's customers and product strategy,reasonable selection of inventory management model,hedging,taking advantage of futures and options markets and enhancing the payables management level and taking a prudent working capital management strategy and other major improvement suggestions.This paper aims to put forward that the core of working capital management in manufacturing enterprises is "three control policy",and the management of accounts receivable,inventory and accounts payable directly affects the demand of working capital.At the same time,the working capital management efficiency is closely related to the enterprise strategy and market competitiveness.