Research On Value Chain Oriented Working Capital Management

As one of the important industries of China's machinery industry,the construction machinery industry is extremely vulnerable to the impact of the total investment in fixed assets and infrastructure construction as well as the impact of the macroeconomic cycle.The industry has undergone continuous adjustment for five years.Since 2017,both domestic and foreign economies have started to recover at the same time,and influenced by the growth rate of construction investment,equipment upgrading,artificial replacement,export growth and other factors,the market demand and profitability of the construction machinery industry have increased significantly.At the same time,enterprises must constantly improve their competitiveness under the current economic background,and to improve the competitiveness,we have to pay attention to the financial activities in the process of enterprise production law operation,the most important is working capital.Now the fierce competition environment for the management of working capital can no longer be carried out in accordance with the previous model,the enterprise should provide a new working capital management model.Therefore,enterprises need new value chain management as a favorable tool to maintain and enhance competitiveness in the complex economic environment.Therefore,it is feasible to combine value chain management with working capital management for research.In this paper,by using the value chain theory and the working capital management theory and from the Angle of combining the two,selection of sany heavy industry working capital related data from 2013 to 2017,using Wang Zhuquan professor of working capital management performance analysis index system is put forward,in the first place of sany heavy industry primarily analyzes the management status of working capital,analyzes the sany's basic financial position,the main working capital management performance indicators,and then through the perspective of value chain,respectively from the internal value chain and the external value chain of its working capital management status for fiurther analysis.So,mainly analyzes the internal value chain link of supply,production,sales,respectively corresponding to the channel of working capital,while the external value chain is combined with suppliers,dealers and customer management of working capital management of sany heavy industry is analyzed,find existing problems and their causes,and put forward the corresponding optimization based on the theory of value chain management advice.