Research On Evaluation And Improvement Of New Hope Dairy Working Capital Management Efficiency Based On DEA Method

Working capital is a key item in financial management of enterprises,and it is an essential part for enterprises to maintain daily operations.The efficiency of its management determines to a certain extent the potential for future development and the ability to create value.Scientific and objective evaluation of the efficiency of enterprise’s working capital management can give enterprises a clear understanding of their deficiencies in working capital management,provide information for enterprise working capital management and decision-making,enhance.This article takes New Hope Dairy as the research object,analyzes its current working capital management status,and focuses on the dairy industry.Fourteen A-share listed companies were selected from the industry as decision-making samples.Based on the previous status analysis,input-output indicators were determined,and relevant indicator data from 2019 to 2021 were obtained from the Guotai An database.The DEA method was used to conduct empirical research from two perspectives:enterprise self-analysis and industry comparison analysis.Through the combination of status analysis and empirical analysis,it is concluded that the efficiency of New Hope Dairy’s working capital management is relatively low,and the main reason is the low pure technical efficiency value,which leads to a large amount of input redundancy and output relaxation.Based on the analysis,targeted strategies were proposed,including optimizing inventory management,improving accounts receivable management system,improving accounts payable management system,strengthening enterprise technological innovation,and normalizing the efficiency evaluation of enterprise working capital management,to provide decision support for improving the efficiency of New Hope Dairy’s working capital management and have guiding significance for other listed companies as well.