Research On Performance Of Manufacturing Enterprise Working Capital Management Based On Channel Theory

Manufacturing is an important part of China’s national economy and has a huge impact on economic development.In recent years,companies have focused on de-capacity and destocking in order to achieve more sustainable development.In this context,the management of working capital is increasingly valued by companies.Scientific management of working capital is an important part of corporate financial management and the key to improving core competitiveness.Therefore,a scientific and objective evaluation of the performance of corporate working capital management has important practical significance for helping enterprises make full use of funds and improve their operational level.This paper first systematically sorts out the domestic and foreign research literatures on the content of working capital management,the evaluation methods of working capital management performance,etc.,and summarizes the relevant theoretical basis of working capital management.Secondly,combined with the occupation of working capital,This paper analyzes the status quo and existing problems of enterprise working capital management in this industry,introduces the evaluation methods of traditional working capital management performance of manufacturing enterprises,and analyzes the defects of traditional evaluation methods.Based on the analysis of current situation,based on channel management theory,The working capital is classified according to channels.The working capital of each channel is selected according to the principle of balanced scorecard from the four levels of finance,customer,internal process,learning and growth,and the weight of each indicator is determined by analytic hierarchy process.A comprehensive performance evaluation system for manufacturing enterprise working capital management based on channel management was constructed.Taking S company as a case,the performance of the case company’s working capital management was analyzed in detail using the comprehensive performance evaluation system.Finally,in view of the problems existing in the management of working capital of manufacturing enterprises,relevant policy recommendations are put forward,which have important reference value for improving the management level and management performance of manufacturing enterprises’ working capital.