Study On Antai Group’s Working Capital Management Based On The Angel Of Channel

Working capital is an asset of the highest degree of liquidity in an enterprise,and it is also an important factor affecting the sustainable operation of an enterprise.Modern working capital management has become an important part of enterprise financial management.With the development of economic globalization,Chinese enterprises are more affected by the international market environment,as well as the scale and assets of enterprises are also increasing.Domestic and foreign experts are increasingly aware of the importance of working capital management.Factor-based working capital management has been inapplicable to modern enterprises for a long time due to the division of the links between various parts of working capital and the lack of overall consideration of the operating procedures of enterprises.Therefore,modern working capital management has turned to channel,supply chain and other perspectives.Antai Group is a coal listed company,which mainly deals in coke and section steel.In recent two years,influenced by the policy of supply side reform,coal and steel enterprises have turned losses to win,while Antai Group has made losses for two consecutive years.At the same time,there are few studies on the management of working capital in coal enterprises,it has practical significance to research on working capital management of Antai Group.From the perspective of channel and combines supply chain management theory and customer relationship theory,this paper analyzes the current situation of Antai Group’s working capital management and give countermeasures and suggestions.Firstly,based on the above background and the important role of working capital management,combined with the research of domestic and foreign scholars,the advantages of channel working capital management and the shortcomings of traditional working capital are described.Secondly,it analyzes the current situation of working capital of Antai Group,and combines the new classification method of working capital based on channel to analyze the current situation of working capital management of Antai Group.Finally,combined with the analysis,this paper found that Antai Group has some problems,such as excessive use of accounts receivable funds,insufficient utilization of commercial credits in procurement channels,uneven allocation of funds in channels,etc.By analyzing the causes of problems,it is proposed to make rational use of commercial credit and strengthen receivables management,strengthening the maintenance of sales channels,strengthening fundraising management and rational allocation of working capital as optimization recommendations.