Research On The Management Of The Operation Of The Dairy Industry Based On The OPM Strategy

In the volatile market and post financial crisis environment in the 21 st century,the development of domestic dairy industry is facing both opportunities and internal and external growth pressure.The importance of working capital management is more and more prominent.The previous working capital management methods have been difficult to adapt to the new development requirements.How to manage working capital efficiently and get rid of the dilemma of working capital financing has become a major problem facing dairy industry.Working capital,like the blood night of human body,runs through the whole production and operation of the enterprise.YILI,as a leading enterprise in dairy industry,has been continuously innovating in working capital management.By exploring working capital management from all aspects and from multiple perspectives,it boldly introduces innovative OPM strategic working capital management methods.This method is commonly known as "using other people's funds to operate the enterprise".When implementing the OPM working capital management method,it is conducive to improving the working capital turnover rate,ensuring that the enterprise has sufficient cash flow,and providing capital guarantee for the enterprise's extensive development.Therefore,this paper selects Yili as the research object,combined with channel management theory and OPM strategy as the starting point,to explore a new working capital management method to meet the development requirements of dairy industry.Firstly,this paper reviews the research results of domestic and foreign scholars from three aspects: working capital management,OPM strategy and channel management.Through combing,we find that there are relatively few researches on working capital management under OPM strategy,especially on dairy industry.Then this paper introduces working capital management theory,channel management theory and OPM strategy theory.This paper expounds the concept and method of working capital management under the OPM strategy,and based on the customer relationship theory in the channel management theory,establishes the performance evaluation system of the OPM strategic working capital management and the effect evaluation index of the OPM strategic working capital management on the basis of the existing relevant research,as the theoretical basis of case analysis.In the part of case analysis,this paper first describes the development status of dairy industry and the implementation of OPM strategic working capital management in dairy industry,introduces the company profile of Yili,and summarizes the implementation of OPMstrategic working capital management strategy of Yili in recent years.Yili shares has set up an e-procurement platform in the procurement process to promote the globalization of procurement channels;adopted the light asset inventory management mode in the production process;and adopted the sales mode of prepayment in the sales process.Then,it analyzes the structure of working capital under OPM strategy of Yili stock,and explores the structural characteristics of working capital under OPM strategy.Secondly,combined with the channel management theory,the working capital of Yili stock is divided into three parts: purchase,production and sales,and compared with the average value of Guangming dairy industry and the industry to make a comprehensive analysis and evaluation.On the basis of the analysis and evaluation,the paper puts forward optimization suggestions for the shortcomings of the implementation of OPM strategy of Yili stock.Through the comprehensive analysis of the OPM strategic working capital management of Yili stock,it shows that Yili stock has implemented the OPM strategy well in the sales and purchase links,while the implementation effect in the production link is not obvious,which needs to be further improved.From the case of OPM strategic working capital management of Yili stock,this paper draws a conclusion and Enlightenment: the implementation of the enterprise OPM strategy provides sufficient capital guarantee for the enterprise's business activities,and the use of a large number of interest free liabilities reduces the capital cost of the enterprise,thus improving the profitability of the enterprise.When using OPM strategy for working capital management,enterprises need to do the following:(1)strengthen the relationship with suppliers,improve the ability to occupy the funds of suppliers;(2)use interest free liabilities and reduce bad debts to ensure the cash flow of enterprises;(3)strengthen channel construction to ensure the leading position in the industry.For domestic similar dairy enterprises,we can learn from the experience of working capital management of Yili stock.and build a working capital management system suitable for their own development requirements.