Research On Working Capital Management Based On Channel Theory Of Pang Da Group

Working capital is hailed as the “flowing blood” of enterprises.Its source is related to the survival of enterprises,and its configuration and circulation affect the development of enterprises.As far as the current practice is concerned,working capital management still mainly focuses on the isolation of individual or several working capital projects in a quantitative manner.This kind of management concept,on the one hand,artificially enlarges key projects,ignores other projects,and breaks away from the actual situation of the enterprise.On the other hand,it cannot be closely integrated with business processes and business activities,and constrains the vision of managers.It cannot find the optimal working capital management method as a whole.This thesis takes the optimal working capital of the channel as the starting point,combines finance and business organically,optimizes the structure of procurement and sales channels,regulates channel behavior,and establishes a harmonious channel relationship,thereby improving the efficiency of capital flow,avoiding unnecessary use of funds and improving corporate profits,promoting the sound development of the company.This thesis selects Pang Da group as the research object.It uses literature research method,investigation research method and comparative analysis method for analysis and research.First,it introduces the company's basic situation,organizational structure and business processes.Then,it uses project quality analysis and financial ratio analysis to reveal the company's working capital structure management and project management status,and points out the shortcomings of traditional working capital management methods.Next,through the channel management method,the company's working capital management is analyzed and evaluated.It was found that the company's procurement channels lacked awareness of long-term cooperation,the deterioration of credit status,and the poor communication with suppliers,which caused the company's settlement methods to rely excessively on commercial papers,high logistics costs and slow and early warning of inventory levels.Due to the single 4S shop sales model,aggressive sales performance indicators,lack of customer management,geographical and brand-wide coverage strategy and imperfect human resource management,the sales channel is not enough for the company's profitability and extensive control of sales costs.Finally,in view of the problems and reasons in the management of the company,the improvement measures of working capital management are proposed,which is to establish a relationship-type channel relationship with suppliers and customers,so as to achieve the goal of improving the management level of working capital.The research in this thesis will help Pang Da group to improve the management of working capital,improve the business performance of the company,and provide useful references for other enterprises in the automobile dealership industry.