Research On Cash Flow Management Of Aucma Company Based On Value Chain

Cash flow exists in every link of the enterprise’s production and operation process.The turnover of cash flow will have an adverse impact on the sustainable development of the enterprise to a certain extent.If the enterprise has difficulties in cash turnover,the enterprise’s operation is unsustainable,and may face the risk of bankruptcy at any time.In recent years,due to the increasingly fierce competition in China’s refrigerator market and the serious phenomenon of industry monopoly,most refrigerator enterprises generally have serious inventory backlog,lack of core competitiveness of products,and capital turnover is threatened.Therefore,how to effectively optimize the cash flow management of refrigerator enterprises is very important.The traditional cash flow management system usually focuses on managing the cash flow of an enterprise in a certain activity,which is lack of integrity and difficult to ensure the long-term and stable development of the enterprise.The introduction of value chain can effectively integrate the cash flow management activities of enterprises,integrate the cash flow management into every link of enterprise production and operation,effectively coordinate the multi stakeholder relationship of enterprises,and form a certain value alliance management mechanism,which can effectively overcome the limitations of traditional cash flow management.This paper selects Aucma as a case study enterprise to evaluate and analyze the cash flow management level of Aucma from 2016 to 2020.Firstly,this paper makes a detailed analysis of Aucma’s cash flow management system and cash flow status,and preliminarily identifies the shortcomings of Aucma’s cash flow management.At the same time,this paper uses entropy method to quantitatively analyze the effect of Aucma’s cash flow management.The scoring results show that the effect of Aucma’s cash flow management is not ideal.On this basis,this paper introduces the idea of value chain management and analyzes it from two aspects: external value chain and internal value chain.It is found that the main problems of cash flow management from the perspective of Aucma value chain are: the purchase price of raw materials is unstable;Inventory backlog is serious;Low quality of cash flow profit;The output effect of R ＆ D link is not ideal;Scattered supplier sources;Customer relationship management is not in place;Slow turnover of accounts receivable;Low rate of return on investment activities;Financing activities have great pressure on debt repayment,etc.To solve these problems,this paper puts forward several optimization measures:using hedging to reduce the price risk of raw materials;Focus on "full cold chain" commercial business and improve cash flow inflow;Focus on the research and development of biomedical cold chain business;Build supplier inventory management mechanism;Establish value alliance management mechanism with customers;Strengthen the post collection management of overdue receivables;Reasonable selection of investment projects;Optimize the financing structure.