| With the increasingly fierce market competition,industry competition no longer only pursues the size of market share,many soft power affect the development of enterprises,such as the improvement of value chain,the optimization of management system and the control of resources.Modern commercial competition is not only the confrontation between individual companies,but also the overall competition of value chain related interest companies.The financial status,credit status and market prospects of each link in the industry value chain must be interrelated and interacted.Therefore,working capital management is no longer the traditional pursuit of a single enterprise financial index to a certain level,but combined with the upstream and downstream value chain relationship,based on the comprehensive management analysis of procurement,production,marketing and investment channels.Firstly,the relevant literature is sorted out from three levels,and the related concepts of working capital,project classification and evaluation criteria are defined.The theoretical basis is channel relationship management,value chain management and customer relationship management.Secondly,taking Tsingtao Beer as a typical case,the evaluation index based on channel perspective is based on the data of 2013-2017,and it makes horizontal and vertical comparative analysis with seven listed companies such as Pearl River Beer in the industry.Through the analysis,it is found that the working capital efficiency of the overall business activities is relatively good,but there are some problems in other channels such as procurement,marketing and so on.Thirdly,it elaborates on the problems found through different channels and analyses the reasons,including the internal management strategy and external market environment.Finally,in view of various problems,the paper puts forward suggestions for improving the management level of working capital and strengthening the channel customer relationship management.Through the case study of Tsingtao Beer,we find that there are some problems that restrict the efficiency of working capital management,such as insufficient credit ability of purchasing channels,serious backlog of finished products in marketing channels,and insufficient control ability of distribution channels.This paper analyses the problems of case enterprises and puts forward relevant suggestions,hoping to play a certain reference role for industry enterprises.In the future,the beer industry should integrate the idea of industry-finance integration into the actual management,and fully consider the channel relationship management in the process of working capital management.By relaxing credit policy and investing vertically,we can strengthen cooperation and exchange among enterprises in value chain and achieve coordinated development. |
