| Working Capital management is the important part of enterprise financemanagement Following the development of social economy, more and moreenterprises find the importance of working capital management, but how to manageit well and how to make it achieve the maximum sufficiency still is a presentproblem.This thesis reviews the foreign and domestic research achievements ofworking capital management, analyzes the basic working capital theories fromthree aspects: the first one is the analysis based on element theory, mainlyanalyzing the concepts and performance evaluating indictors for the accountsreceivables, inventory and accounts payables. The second one is the analysisbased on channel theory，mainly analyzing the ideas and evaluating indicatorsfor operation activity working capital. The third one is the analysis for zeroworking capital theory, and based on these theories and the current situationof E company,the thesis analyzes how the company manages monetary fund by usingweb bank, relationship bank, cash pool and without resource bank accepted draft,how it manages accounts receivables by new customer due diligence, aginganalysis and the timely receivable policies, how it manages inventory by usingMRP system, vendor management inventory, standardizing the products ande-Kanban,how it manages accounts payables by using aging analysis andcentralized payment plan.Then the thesis analyzes the E company ‘s workingcapital management performance from two aspects, one is based onelement,calculating days in inventory,days of sales outstanding and days inaccounts payables, the other is based on channel theory, including analysis onprocurement channel turnover，production channel turnover and marketingchannel turnover,.From the analysis results we can know E company has a good turnover period achievements. Procurement channel focuses on the vendor selection, improvementon the relationship with vendors, renovating procurement methods in order todecrease the supply instability, production channel turnover is basicallystable, which results from the improvement on production method and process.The improvement on marketing turnover results from the improvement on accountsreceivables. At the same time we can see E company still has improvementpossibility on accounts receivable hedge, strengthening the customer grademanagement, strengthening vendor management inventory. Finally this thesisprovides useful methods for domestic companies. |
