Research On ZY Enterprise Working Capital Management Problems And Countermeasures Based On Channel Theory

The effect of working capital management is closely related to the daily operation and future development of the company.The element-based working capital management,that is,the traditional working capital management,has the advantages of simplicity,ease of measurement,etc.,but does not consider the relationship between various working capitals,and does not combine with the actual business processes of the enterprise.In 2007,Wang Zhuquan proposed to reclassify working capital according to channels,formed a channel-based working capital management system,and improved the management of element-based working capital,which made working capital management enter a new stage.In recent years,the implementation of a series of new national policies has promoted the reform and upgrading of the pharmaceutical industry.At the same time,the concentration of industry in the pharmaceutical manufacturing industry has been continuously improved and competition has intensified.At the same time,people are paying more and more attention to health and medicine,and the demand for medicine is also growing.Therefore,it is crucial for pharmaceutical manufacturers to improve the management of working capital.The article collects the existing researches on working capital management by experts and takes ZY pharmaceutical manufacturing enterprise as an example to analyze the working capital management in the past five years from the perspective of channel.The current situation analysis shows that the raw material is more,the accounts payable and bills payables grow too fast in procurement channel.The goods in process occupy too much funds in production channel.The accounts receivable and notes receivable account for a large proportion in sales channel.The article gives the corresponding solutions by analyzing the reasons for these problems.ZY enterprise can adopt a variety of procurement methods,use suppliers to manage inventory and use credit terms rationally to build long-term cooperative relationship with suppliers in the procurement channel.In the production channel,ZY enterprise should pay attention to the impact of policy changes on demand,strengthen information construction,and adopt lean production.In the sales channel,the accounts receivable management system should be improved,new sales models should be expanded,and overseas markets should be explored.These measures can improve the current situation of working capital management and provide certain reference for the future development of ZY enterprise and pharmaceutical manufacturing industry.However,due to certain difficulties in data acquisition and measurement,the profitability indicators of working capital management have not been calculated and analyzed.The specific measurement methods need to be further studied and discussed.The working capital management evaluation system needs to be improved.