| Working capital is a “flowing blood” that guarantees the survival and development of the company.It links all aspects of the business process and plays an important role in the financial management of the company.At present,the relations between the economies of the world are getting closer and the economic integration is gradually deepening.It has become a trend to explore how to improve the industrial chain with integrated thinking.Under such an economic environment,the company’s development vision is to avoid financial risks while improving the level of working capital management,and thus achieve the dual goals of maximizing corporate profits and strategic upgrading.Traditional working capital management focuses on the control of individual elements but ignores the relationship with business processes and may lead to some potential problems.In 2001,Prof.Wang Zhuquan of China Ocean University merged the theory of channels,supply chain theory and customer relationship theory,put forward the working capital management system under the channel theory,and then guided the research direction of working capital management.However,if the theory is to be widely applied in the enterprise,it needs to be continuously optimized and improved in practice.Based on the existing research on the management of working capital by scholars,this article uses a comparative analysis method to analyze the application of operating fund management in practice under the channel theory.First of all,take the JAC in the automobile manufacturing industry as the research object,discuss the internal structure of the company’s working capital under the current management model,and determine the level of the working capital management of JAC by combining the industry data;secondly,based on the channel theory.,Reorganize and classify working capital projects according to the categories of operations and financial management,link the characteristics of business operations,and study the company’s working capital management policies.At the same time,conduct specific analysis based on the management performance calculation results.Finally,we conclude that the company can further improve the management of working capital in establishing relationships with suppliers,making full use of idle funds,and improving the efficiency of dealer management,and propose effective optimization proposals for these three areas in order to ensure the operation The efficiency of capital management also controls operational risks and can provide reference for other companies in the industry. |
