Analysis Of Working Capital Management And Its Performance Of Yonghui Superstores Based On New Retail Model

In recent years,the rapid development of e-commerce in China has brought a huge impact,and the continuous rise of offline store rent and labor costs is forcing retail enterprises to urgently transform.In this context,the "new retail" business model,which focuses on consumer demand and deeply integrates online,offline and logistics with information technology,provides a new idea for traditional retail industry to seize online and offline market share and improve retail operation efficiency.Good working capital management has always played a key role in the operation and development of enterprises,especially for retail enterprises with working capital accounting for a larger proportion of the total assets of the enterprise,the requirement for working capital management is also higher.As the transformation of new retail companies,sales channel integration,intelligent service supply and user business model characteristics of consumer socialization,the retail enterprises to strengthen assets turnover,control the liquid debt risk and improve operating profit ability put forward higher request,the traditional working capital management strategy of retail mode already cannot satisfy the need of the development of new retail business model.Therefore,the study of enterprise working capital management under the new retail business model can not only enrich the case study in this field,but also improve the enterprise working capital management strategy,so that it can promote the successful upgrading and smooth promotion of the new retail business model energetically.Yonghui Superstores has been actively exploring and taking the lead in transforming the new retail business model,and successfully created the core competitive advantage under the new retail.Therefore,this thesis takes Yonghui as an example to discuss the working capital management under the new retail business model of enterprises.This thesis first sorts out the new retail business model and working capital management related research results at home and abroad,and constructs the basic framework.Then it illustrates the content of working capital management and the theoretical basis of performance evaluation under the new retail business model.Then,by utilizing the method of case analysis briefly illustrates the basic situation of Yonghui Superstores.After introducing the specific measures of the new retail business model and its overall situation of working capital,the working capital management strategy of the new retail business model of Yonghui is deeply analyzed,from the procurement,inventory,distribution and marketing links respectively.The thesis evaluates the effect of working capital management through horizontal comparison of industry average and Tianhong stock and vertical comparison before and after its transformation.In the end,it draws relevant conclusions and summarizes the experience and enlightenment of working capital management for other new retail enterprises.The working capital management strategy adopted by Yonghui Superstores has generally promoted the development of the new retail business model,and the efficiency of working capital management has been improved as a whole.The research conclusions are as follows:(1)Yonghui Superstores has effectively accelerated the flow of working capital in the procurement process by building an efficient fresh supply chain and deepening the cooperative relationship with suppliers.(2)Yonghui Superstores not only controls the loss of goods,but also realizes the efficient circulation of inventory by using information inventory management tools and self built efficient logistics distribution system.(3)The creation of Yonghui Superstores intelligent middle platform and consumer database has improved the sales level,saved funds for the new retail business model in the marketing link and improved the capital operation efficiency.(4)The relatively loose accounts receivable credit management policy adopted by Yonghui Superstores and the high current debt risk caused by large-scale expansion will affect the management of working capital to a certain extent and need to be further improved.At the same time,based on the case study of working capital management under the new retail business model of Yonghui Superstores,the thesis summarizes the experience and enlightenment that can be used for reference by other new retail enterprises,and provides new ideas for working capital management:(1)retail enterprises can participate in relevant upstream companies to enrich the zero supply relationship network and strengthen the purchasing bargaining power of enterprises;At the same time,we can also develop supply chain financing to bind high-quality suppliers and obtain the advantages of new retail commodity categories and costs.(2)Retail enterprises can actively integrate digital technology,intelligently upgrade the existing inventory management and build an intelligent new retail logistics distribution system,so as to speed up the inventory turnover and alleviate the precipitation of new retail funds.(3)In the new retail layout,enterprises should reasonably control the expansion speed and prevent excessive occupation of a large amount of working capital due to blind large-scale expansion;At the same time,enterprises should continue to pay attention to and optimize the debt structure,strengthen the management of enterprise working capital from many aspects,and provide a stable source of funds and sufficient capital guarantee for the successful operation of the new retail business model.