An Empirical Research On Impact Factors Of The Performance In Working Capital Based On Supply Chain Management

Working capital flow fastest and revolve strongest in the daily business activities of enterprises. In the financial management theory and the daily financial management practices working capital occupies an important position. Working capital’s management levels largely determine the success or failure of the business. In recent years, domestic and foreign scholars study working capital management gradually beyond the scope of the enterprise’s own management, the supply chain, channel and customer relationship management corporate with working capital management. Working capital management’s performance compared with the previous has also been greatly improved. Standing on the point of supply chain management, companies need to grasp from suppliers from the supply chain management system (down to the customer) of the overall turnover of working capital, can overcome the traditional working capital management theory is only concerned about the enterprise’s own situation ignore the link between working capital management and enterprise production, supply and business processes, not reflect the funding the turnaround situation of a complete enterprise process, cannot improve the overall working capital management performance defects. As a result, insert the supply chain management and customer relationship management into the management research of working capital, It has important implications for SMEs in China from the overall strengthening of working capital management, improve the survival and competitive advantage in the current economic environment.In this article, the relevant literature based on the new classification of the working capital and supply chain management theory, analysis summarizes the various links in the supply chain (purchasing, production, and sales) in working capital management performance factors. According to working capital requirements, establish some modal and select the2009-2011years of SMEs listed manufacturing companies as an sample data (a total of216samples of data), then take the working capital cycle operating activities (a measure of working capital turnover rate) and operating activities total assets ratio (for the footprint measure of working capital) as the dependent variable, take the every link in the supply chain, working capital management performance influencing factors as independent variables. The general multiple linear regression (stepwise regression analysis) used the SPSS statistical software. The result indicated:the maximum contribution of receivables management cycle operating activities working capital cycle, followed by a production process management, the number of supplier scale, contribution to the smallest level of material procurement management, but the scale of the number of customers and creditors shall manage these two variables and operating activities working capital turnover period is not significant linear relationship exists, no significant impact on operating activities working capital cycle. The scale the number of customers demand for working capital from operating activities to total assets ratio largest contribution, followed by materials procurement management level, payables management, contribution to the scale of the minimum number of suppliers, but these two variables and operating activities of production process management and accounts receivable management demand for working capital to total assets than significant linear relationship does not exist, the demand for working capital and total assets of the business activities no significant impact. These results have significant meaning in guiding the companies to improve the SMEs’ working capital management performance. First, enterprises should strengthen the management of supplier credit and customer credit period. Second, pay attention to the role of supply chain management and improve degree of enterprise supplier aggregation and customer aggregation, enhancing the cooperation with suppliers and customers. Third, strengthen product management, reduce the amount of funds occupied by good in process.