Research On Yaxing Bus Working Capital Management Based On Channel Theory Perspective

Working capital management,as an important part of enterprise financial management,is related to various business activities and value creation activities of enterprises,and has an important impact on the development of enterprises.With the economic situation,the impact of the new crown epidemic on the automobile manufacturing industry and the continuous changes in the development of enterprise operation,the enterprise working capital management also needs to be further strengthened.How enterprises can improve working capital management in the present time is an urgent problem to be solved.Taking Yaxing Bus as an example,this paper comprehensively studies the internal composition of its working capital and the current situation of working capital management under the channel perspective from 2016 to 2020 based on the elaboration of traditional working capital management,channel management theory and working capital management theory under the channel perspective.Using the comparative analysis method,the working capital turnover period of each channel of Yaxing Bus and Yutong Bus,the hierarchical analysis method is used to construct the evaluation system of Yaxing Bus working capital management level,to evaluate the working capital management level of each channel of Yaxing Bus and the enterprise as a whole,to refine the deficiencies of each indicator in each channel,to point out the problems of Yaxing Bus working capital management and their causes and to propose countermeasures.Based on the channel management theory,it is found that the working capital management of Asia Star Bus is qualified overall,its procurement channel and production channel are qualified and medium level respectively,and it should be noted that its sales channel is not qualified level.In response to the evaluation results and the causes of the problems,countermeasures are proposed: maintain good credit and ensure stable relationships with suppliers to improve the management of accounts payable;improve the production planning management system,innovate and optimize the production process;improve the accounts receivable management system,appropriately choose bills receivable to settle payments and strengthen the management of receivables.This paper studies the current situation of working capital management of Yaxing Bus based on channel theory and proposes countermeasures for its problems,which not only provides ideas for Yaxing Bus to improve working capital management and promote healthy development of the enterprise,but also provides reference for other automobile manufacturing enterprises to improve working capital management.