| The adequacy of capital flows and the speed of turnover of modern enterprises are the major factors that affect the business results of enterprises.Nowadays,the competition between enterprises is more and more frequent,and the traditional working capital management model can not meet the needs of the current enterprise development.At this point,supply chain management is introduced into working capital management,which provides a new solution to the problem of enterprise fund operation management.Therefore,this paper selects H company as the research object and analyzes its working capital management performance from the perspective of supply chain.This paper first divides the working capital of the operation activities into the procurement,inventory and marketing channels of the supply chain activities.Then,according to the performance evaluation system of the working capital management of Professor Wangzhuquan(2007),the working capital turnover period of the upstream procurement link,the working capital turnover period of the mid-stream inventory distribution link,and the working capital turnover period of the downstream sales link of the H company were calculated.By comparing with the industry average,it is found that H’s working capital turnover period is higher than the industry average,which shows that H’s working capital management has many deficiencies and needs improvement.The main manifestation is that accounts payable accounts account for about 70 per cent of liquidity,the largest vendor purchases account for 21.87 per cent of annual procurement,while other vendors account for only 3 per cent,indicating that Company H is overly dependent on one vendor and consumes a large amount of vendor funds.Its inventory turnover period is more than the industry average of more than 10 days,its management level needs to be strengthened.Sales channels are single and can not fully investigate customer needs,logistics systems need to be improved,information management systems need to be updated and other issues.In view of the above issues,the following measures are proposed: First,establish a good strategic cooperation relationship with suppliers upstream of the supply chain,and use the period of payment payable to balance the working capital of the procurement process and the interests of suppliers.In this way,we can not only ensure that our working capital is sufficient but also improve our business credit.Second,the stock management in the middle of the supply chain can use zero-inventory management and category management to accelerate the operating capital operation speed in the middle reaches.Third,the downstream supply chain more understanding of customer needs and the development of Internet multi-channel sales means to improve the speed of marketing channels of working capital.Fourth,the establishment of the overall supply chain information platform,open up the core enterprise upstream and downstream related node enterprises and customers information,improve the overall supply chain operating capital efficiency. |
