Study On The Problems Of Working Capital Management Of A State-owned Group Company D

In recent years,the global economy is showing it features like the coexistence of economy low growth and trading low growth,dollar appreciation and non-dollar currency devaluation,low interest rates and low inflation,high debt and high leverage.With the development of modern science and technology's progress and a new round of structural reform and industrial transfer,competition between companies is more and more intense.As one of the core contents in finance management,working capital management is playing a bigger role in daily company production management.China is also in the critical reform period now.Especially in State Owned Enterprises(SOEs),traditional management pattern doesn't fit the modern companies' development demand any more.On the setting of this times,it is a wide gap for SOEs that how to enhance the benefit of working capital management based on avoiding risks rationally.Professor Wang Zhuquan,a famous Chinese economist,proposed a new working capital management system where channel management theory and working capital are combined together on the basis of the channel management theory.And the new system also provided new ideas for relevant SOEs reforms.Nevertheless,it still needs continuous efforts to explore and study the way to bond these new ideas and company financial condition in reality.After carding domestic and international documents and references about working capital,this article analyses the limits of traditional working capital management in practical company management and some advantages of new management system based on the channel theory.Through analyzing the actual management situation,this article put forward some problems of working capital management in D company clearly with the research method majoring in cases analysis.Besides,by introducing the channel management theory,a new eagle is settled to demonstrate and apply working capital management in an innovative way.In the way of combining both theory and practice and taking advantage of reference study,cases research,field research and financial index analysis,this article applies working capital-related management theory to D company's operations management and proposes some targeted advices and designs,which has great significance to the aim of solving those company problems in working capital management.At the same time,they are also good references and examples to other relevant SOEs reforms.