Research On Working Capital Management Under The Perspective Of Channel Management

In recent years,with the rapid growth of the global economy,opportunities and challenges coexist in the real estate industry,such as the waste of land resources,excessive vacancy rate of buildings,rising financial risks and other issues.In order to guide the orderly development of real estate enterprises,the state has issued a series of macro-control policies.As is known to all,the real estate industry has the characteristics of high leverage,long development cycle,high policy sensitivity and slow investment recovery.At the same time,the industry is facing the risks of financing difficulties,overstocking,non-standard competition and unbalanced funds.Working capital supports the daily operation of enterprises,and its management level directly determines the survival and development of enterprises.Traditional working capital management is too one-sided to meet the needs of enterprise management practice.Channel management arises at the moment.Analysis on the management of working capital from the perspective of channel management closely integrated business process,which conforms to the essence of enterprise management.Under the current policy tightening and tight market supply and demand environment,Poly Real Estate has maintained a good performance trend of working capital management.Therefore,researching the management of working capital of Poly Real Estate can provide some experience for the same type of enterprises to prevent the risk of capital operation,avoid the break of capital chain and maintain good working capital turnover capacity.This paper adopts theoretical analysis,case analysis,summarizes the enlightenment,and progressively promotes the research of the article.Firstly,this article elaborated the research background and significance,then introduces the research ideas and methods of this paper.Besides,introduces the related concepts and theories of working capital management and the necessity of introducing the perspective of channel management.Then it describes the characteristics of working capital turnover and the particularity of management of real estate enterprises in China.Through the analysis of the financial situation and the current situation of working capital management of poly real estate under the perspective of channel management,it introduces the ways to manage the working capital of Poly Real Estate through different channels.As for the management of working capital in the purchasing channel,it is mainly through the integration of industry chain,strategic alliance of suppliers and centralized purchasing of electronic platform.The management effect is evaluated by comparing the working capital management turnover period of the channel with the industry.The study finds that the management level of working capital in the purchasing channel of Poly Real Estate has been improved,but the scale of centralized purchasing is still have expanding space.As for the management of working capital in production channels,it is mainly through three ways: upgrading development level,promoting standardization and adopting EPC mode.It evaluates the management effect from those turnover index annual fluctuations up and down.The study finds that although the management level of working capital in production channels of Poly Real Estate has declined,the difference between the management level and the average value of the industry has been narrowed.Therefore,the use of production channel funds should be strengthened in the future.As for the management of working capital of marketing channel,it mainly evaluates the management effect through three ways: delicacy management,using Internet platform and developing overseas projects.It also evaluates the management effect from the continuous rise of the ranking in the industry of working capital management turnover period of the channel.The study finds that the management of working capital of Poly Real Estate marketing channel has steadily improved and achieved good management effect.As for the management of working capital in the financial management channel,it is mainly through registering SCP,issuing real estate investment trust fund and establish good relationship with bank-enterprise,and evaluating the management effect from the stability of the ranking of the industry in the working capital management turnover period of the channel.It is found that the management level of working capital in this channel remains stable,so it should continue to advance.Diversified investment and financing should be continued to further shorten its turnover period.Finally,this paper analyzes the working capital management strategies and effects of poly real estate in in procurement channels,production channels,sales channels and financial channels,and make conclusion.Then it summarizes the experience and inspiration of working capital management of poly real estate from the perspective of channel management.Expanding the scale of centralized procurement,improving the level of real estate development,expanding new business channels and optimizing financing methods through low-cost and multi-channel channels are important experiences in working capital management of procurement channels,production channels,sales channels and financial channels.Meanwhile,it is necessary to improve the working capital management system,focusing on the establishment of relevant capital operation strategies and incentive plans,from the overall level of the enterprise to control the management of working capital,and allow all staff to participate in the management to play its role.The most critical link in realizing the value of real estate enterprises’ commodities lies in customers.Only when the commodities are sold out can the capital complete a cycle.Therefore,we should strengthen customer relationship management.In addition,channel integration and collaboration should be strengthened to fully expand the overall effect of enterprise working capital management.