Working Capital Management Of E-commerce Platforms

Working capital,as an essential "flowing blood" in business operation and development,is vital for business management.In recent years,scholars try to research on enterprise working capital management from the channel perspective that is different from the traditional evaluation methods.E-commerce platform,as a rapidly developing industry in recent years,has always attracted people's attention in enterprise management.E-commerce enterprises also have their own characteristics in working capital management,which needs to be analyzed and studied from a more comprehensive perspective,introducing Channel Management Theory into the working capital management of e-commerce platform provides a new perspective for working capital management research.Among the famous e-commerce platform enterprises in China,JD.com has developed from a vertical platform with only 3C products to an industry leader with the second largest market share in the mode of "self support + platform".It has rich development process,complete channels,wholesome warehousing and logistics system and innovative financial services,which enable JD to have certain industry-representative characteristics and existing problems related to working capital management.Taking it as a case has high research value.This paper adopts case study method.In the first three chapters,the research background,ideas and methods are ilustrated,and relevant literature and theories are reviewed and summarized.Combined with the characteristics of e-commerce platform enterprises,the specific content of e-commerce platform working capital management from the perspective of channel is proposed.Then this paper takes JD.com as the case company,analyzes its current management mode and working capital effect from the purchasing channel and marketing channel.It is shown that there are existing problems in the purchasing channel: high cost brought by the purchasing pattern,large accounts payable leading to tense supplier relationship;in the marketing channel,JD.com needs to avoid the risk of noncooperation of suppliers caused by low-price strategy,and solve capital velocity reduction due to the increase of receivable ratio.Based on the problems existing in working capital management of JD,this paper proposed relevant suggestions.Firstly,it is necessary to improve the cooperation relationship with suppliers,promote the supply wil ingness of suppliers,and ultimately improve the efficiency of working capital management of purchasing channels.Secondly,it is necessary to strengthen the evaluation of customer credit with ensuring good customer relationship,and speed up the payment collection.Moreover,by improving and promoting its own payment platform,the effect of "settling pond" operation will be promoted and the efficiency of capital utilization will be improved.Finally,control the capital investment in self-built logistics,develop the logistics mode reasonably,and avoid the reduction of working capital turnover efficiency caused by excessive transportation management.After in-depth study and analysis of the effect of JD's working capital management based on channel management,this paper summarizes the risks that other domestic ecommerce platform enterprises need to pay attention to in working capital management,and summarizes the experience that can be used for reference in JD's development,hoping to provide reference for B2C(Business To Customer)e-commerce platform enterprises in China to improve their own working capital management efficiency.