Research On Working Capital Management Of Z Group From The Perspective Of Supply Chain

As an important part of the total capital of an enterprise,working capital is regarded as the blood of the enterprise.Its characteristics are large liquidity and short turnover period,which makes the research on working capital management change from factor-to supply chain-based perspective.What's more,the working capital involves the whole process of purchase,production and sales,enterprises pay a great attention on the management of working capital.Therefore,improving working capital management and reducing its risk are an important issue for enterprises to explore.This paper firstly reviews the relevant literature,the theory of supply chain management and working capital management,it provides sufficient theoretical reference for working capital management analysis.After summarizing the current situation of the supply chain in cemented carbide industry,we take Z group as an example and analyze its own working capital management from the aspects of purchase,production and sales.Moreover,according to the financial statements of Z group in 2016-2018,we construct the working capital evaluation index system of Z group from the perspective of supply chain,and use AHP fuzzy comprehensive evaluation method to explore the important factors that affect working capital management in supply chain.Our work finds out the company exists weak R & D ability,imperfect product management and delayed settlement of accounts receivable under supply chain.Finally,from the perspective of controlling capital risk and optimizing supply chain capital management,this paper gives targeted optimization suggestions to solve the problems.To improve the efficiency of each link of the supply chain,the Z group needs to advance information system.The consignment inventory mode should be used widely in the procurement link.The R & D investment should be increased for the production link and the company needs to Carry out JIT production.In the sales links,the timely payment for current account needs to follow up and standardize the reasonable credit policy.Our work not only provides some reference suggestions for Z group to optimize the working capital management under the supply chain in practice,but also makes the relevant business operators more aware of the importance and urgency of managing capital from the perspective of supply chain.