Research On Efficiency Evaluation Of White Good Industry Working Capital Management Based On OPM Strategy

In recent years,the development of the white goods industry has passed the golden period.With the global economic crisis,overcapacity,market saturation,and rising costs,the stimulus policy of "home appliances to the countryside" has withdrawn from the market,and the policy of "trade-in" has withdrawn from sight.Since 2012,it has entered a recession phase.Generally speaking,the relationship between supply and demand is changing,and the white goods industry has transitioned from a seller’s market to a buyer’s market.In the face of rising material costs,labor costs,logistics costs,and constantly fluctuating markets,the drawbacks of the traditional production,supply and marketing model have become increasingly prominent.In order to ensure sustainable development,home appliance manufacturers have begun to introduce OPM strategy,transform their financial management strategies,and use external resources to promote their own operations.OPM strategy can help enterprises alleviate financial pressure.In reality,many manufacturers have used OPM strategy more or less,but not every enterprise can deeply understand the essence of OPM strategy.The OPM strategy does not emphasize blindly squeezing the resources of related parties,but seeks a higher level of game and balance.Haier Smart Home,established in 1984,is a leader in the white goods industry and the first large-scale manufacturing company in my country to use the OPM strategy.The advantages and risks of using this strategy are very meaningful.In order to study why Haier Smart Home chose to use OPM strategy,how the corporate working capital management performance was affected,whether OPM strategy has duality and how to improve,this article analyzes the purpose and effect of Haier Smart Home using OPM strategy.On the basis of sufficient theoretical knowledge and valuable academic literature,this article first summarizes the implementation status of the OPM strategy,and sorts out the characteristics and development trends of the white goods industry under the control of macroeconomic policies.Next,I will introduce the development of Haier Smart Home,a case company,and analyze the motivations and prerequisites for using OPM strategy in the process of improving working capital management.After collecting the disclosed data of the case company,the effectiveness of working capital management was specifically evaluated from the perspectives of working capital structure,working capital management performance and financial flexibility.Through analysis and exploration,it is found that the OPM strategy promotes the healthy operation of Haier Smart Home.From the perspectives of factors and channels,it is reflected that under the OPM strategy,the company has obtained more external resources,and the working capital is regenerated and circulated.However,the OPM strategy is not only beneficial and harmless.There are risks in the application process.Short-term debt solvency and financial management risks have been affected to a certain extent.Finally,this article briefly discusses the problems that arise when using the OPM strategy,and puts forward specific suggestions in terms of relationship with suppliers,inventory management methods,and optimization of financing channels,hoping to give Haier Smart Home and other companies using OPM strategy some reference And experience.