| Among the methods of working capital management,there is a fund management method that borrows the funds of others to run their own business,which is called OPM strategy.In the fiercely competitive real estate industry,enterprises using this OPM strategy of working capital management will enable them to obtain abundant cash flow,speed up the turnover efficiency of working capital,gain more profits than other enterprises in the same industry to expand their business scale,so that enterprises can rapidly grow and become the industry leader.How to effectively manage working capital,solve the difficulties of financing working capital,slow turnover of working capital,inadequate management of working capital and inadequate inventory management have become the key issues for enterprises to maintain daily operation and sustainable development.Based on the theory of working capital management and OPM strategy,this paper takes Vanke’s OPM strategy as the analysis object.Firstly,it analyzes the motivation of Vanke Group to use OPM strategy,and believes that the more stringent financing conditions of real estate enterprises are the main reasons for Vanke Group to use OPM strategy for working capital management.Then the article summarizes the method ofVanke Group’s use of OPM strategy to manage the working capital of each link.Vanke Group’s procurement process focuses on the management of suppliers,and uses supply chain factoring ABS to reduce the supplier’s capital pressure,uses light assets mode to manage inventory in production process,uses accounts receivable factoring to reduce the proportion of bad debts in sales process,and uses housing balance payment ABS to revitalize the capital occupied by the customer.Finally,the result of using OPM strategy to manage working capital is evaluated.The research obtains the experience of Vanke Group in using OPM strategy for working capital management,and make some suggestions on existing problems. |
