Research On Operating Capital Management From The Perspective Of Supply Chain

Working capital is crucial to the survival of an enterprise,and the capital chain rupture will directly affect the sustainable operation of the enterprise.After the global economic crisis,more and more enterprises have realized the importance of working capital.With the increasingly fierce market competition in the construction industry,it is common for construction enterprises to pay funds in advance and be forced to make the price lower by proprietors.Working capital has become one of the vulnerable parts of capital management in construction enterprises.The backwardness in working capital management will directly affect the daily operation of construction enterprises,which is not conducive to long-term development and weakens their competitiveness in the industry.The traditional method of working capital management is to optimize each factor individually,which may care for this and lose that.It has some limitations and it is difficult to realize the overall improvement of working capital management level.In recent years,scholars at home and abroad have conducted interdisciplinary research based on theories such as supply chain management,advocating the integration of capital management and business management,using supply chain management theories to solve some problems in working capital management research,and providing a new way of thinking for enterprises to manage working capital.The introduction of working capital management into supply chain management concept is not an optimization problem within the enterprise,but involves the optimization of the whole supply chain.The working capital of the core enterprises in the supply chain is strongly dependent on the upstream and downstream enterprises.To improve the overall efficiency of the working capital of enterprises,it is necessary to maintain the efficient operation of the working capital among the node enterprises passing through the chain.The strategy of working capital management is not to be solved by enterprises themselves,but to share information with suppliers and customers,carry out strategic cooperation,and integrate,operate and optimize the supply chain.This thesis adopts case analysis and chooses the Western Construction as the case company.First,the thesis describes the actual situation of the Western Construction,and analyze the current situation of working capital management of the Western Construction through three aspects: the working capital structure of the Western Construction;business processes of bidding and purchasing,construction production,final accounts;working capital management performance based on the supply chain.Then,according to the on-the-spot investigation,the management status quo and the analysis of the corresponding indexes of bidding and purchasing,construction production and final accounts,the thesis summarizes their problems and reasons of working capital management based on the supply chain.After expounding a series of problems existing in the three links,this thesis gives several systematic optimization schemes for each link of the supply chain according to the Supply Chain Theory and Stakeholder Theory.At last,it puts forward some indemnificatory measures to ensure the implementation of these optimization schemes.Therefore,the Western Construction can reduce the risk of working capital breakage in the process of production and construction,improve the utilization efficiency of working capital,and provide some reference for other enterprises in the construction industry.