Research On HXJD Group Working Capital Management Based On Value Chain

In recent years,with the rapid development of domestic market economy,the market of home appliance industry tends to be saturated.Accordingly,a lot of home appliance enterprises are facing the problem such as profit space little,capital turnover difficulty in daily management activity.Working capital is closely related to the business activities of enterprises.The capital loss caused by improper working capital management is very huge.To some extent,the level of working capital management greatly affects the development prospects of enterprises.With the increasingly fierce market competition,gradually become the focus of enterprise financial management of working capital,the analysis of the traditional management of working capital is limited to a single project,and the value chain management involves each value appreciation in the process of enterprise production and business operation part,starting from the overall manage in order to realize the enterprise value maximization as the goal,to a more comprehensive control of the enterprise the management status quo.Therefore,the combination of value chain and working capital can comprehensively improve the level of enterprise working capital management.Based on the connection between value chain and working capital,this paper analyzes the working capital management status of HXJD group in the household appliance industry by using case analysis method and financial analysis method,and puts forward some Suggestions to optimize the working capital management of HXJD group.Firstly,the theory of working capital and value chain is expounded.Secondly,the brief introduction and financial status of HXJD group are briefly introduced,and then the management system and overall scale of working capital of HXJD group are analyzed.Onthis basis,combined with the theory of value chain and working capital management,this paper analyzes the operating working capital management of HXJD group from 2014 to 2018,mainly including the analysis of the amount and turnover period of each project capital in the purchasing,production and marketing channels of working capital,and compares it with the average level of the industry.Finally,on the basis of the above analysis and research,the existing problems of HXJD group and the reasons for the problems are found,and some relevant optimization measures are proposed.In order to provide some practical guidance for the same type of enterprises to use the working capital management of the value chain.