Research On The Working Capital Management Based On The Angle Of Channel Of Jingshen Salt & Chemical Industry

The financial management of enterprises is an important part of business management,and working capital management is another important part in financial management.In recent years,the research on China's working capital management has closely combined with the practical problems in the development of modern enterprises.Introducing channel theory into the management of working capital has become a hot spot in domestic research.Combining financial theory with channel theory to develop a working capital management system,so that working capital management and business processes are closely integrated,making up for the relatively isolated and one-sided situation of previous research,which can help enterprises understand their own problems from all aspects,Good improvement in working capital management.The salt and salt chemical industry is in the early stage of government-oriented and market-oriented transformation.The large and small enterprises in the industry are also actively adapting to the new challenges brought by the market in the critical period of compliance with the “salt reform” policy.As a representative enterprise of local salt chemical enterprises in China,Suyanjingshen conducts a comprehensive analysis of its working capital management from the perspective of channel theory,which not only provides suggestions for improving the existing working capital management system of Suyanjingshen,but also for the same industry.Other companies offer some lessons.This paper analyzes the operation situation of the case--Suyanjingshen and the status of working capital management through the methods of inductive deduction,case analysis,sex quantitative analysis and comparative analysis,and finds the management and evaluation currently adopted by Suyanjingshen.The method does not help companies to improve their working capital management.Then,based on the channel perspective,the author reclassifies the working capital of the enterprise into procurement channel working capital,production channel working capital,sales channel working capital and non-operating activity working capital,and analyzes the specific situation of each channel,combining the whole working capital.The performance evaluation found that Suyanjingshen's working capital management has a series of excessive procurement resources,lack of supplier relationship management,procurement system and market disconnection,inventory accumulation,information transmission lag,and unreasonable debt structure.The problem caused a waste of working capital.Then,based on the actual situation of the enterprise,this paper explores the root cause of the problem,further optimizes the supplier management of Suyanjingshen's future working capital management,establishes the supplier performance evaluation system,improves the procurement mode,and rationally uses commercial credit;Management system;increase product market competitiveness through technological innovation;rationally divide sales channels,strengthen the construction of its own sales channels;step up the construction of information platform,enhance communication and improvement of debt structure across channels,and ease the seven-point optimization proposal for corporate debt repayment pressure.Suyanjingshen is a representative enterprise of local salt chemical enterprises in China and has always been a leader in the industry.Through in-depth study of its working capital management,explore its successes and shortcomings,and hope to provide reference for the reform of working capital management of other salt chemical enterprises.