Research On The Management Of Working Capital Of Meibang Under The Change Of Supply Chain

In recent years,with the continuous enhancement of China's soft and hard power,the development of the garment manufacturing industry is growing rapidly.However,it is undeniable that some problems have arisen at the same time of development.In recent years,the phenomenon of high inventory and overcapacity in Chinese garment enterprises abounds.In the context of the state's emphasis on supply-side reform,it is necessary to focus on the management of working capital from the supply side.And the management of working capital is closely related to supply chain management.Only when the supply chain is complete and can effectively function,funds can flow smoothly along the supply chain,improve efficiency,and improve the company's operating conditions.However,if there is a problem in the supply chain,the efficiency of procurement,production,and sales will be greatly reduced,and the circulation of funds will be poor,which will make the operation of the company difficult.To sum up,improving the performance of enterprises and enhancing their competitiveness must be based on the premise of discovering and resolving the problems of corporate working capital management.The management of working capital of manufacturing enterprises is also improved on the basis of supply chain management.Therefore,enterprises in the apparel industry should pay attention to the potential hidden dangers and problems in the management of corporate working capital from the perspective of supply chain management.After combing the concepts and theories related to the case study direction,this paper selects the case enterprise Meibang and uses the comparative analysis method to compare the financial performance indicators collected from the Meibang Annual Report with itself,and analyze the changes before the supply chain.And what changes have occurred in the performance of working capital management.On the other hand,these financial performance indicators are compared with the indicators of the company's enterprises that have not undergone supply chain transformation in the same industry.They visually show the changes between the various projects of the working capital after the supply chain reform,and find out the changes of Meibang.The problems in the management of working capital,the reasons for mining,and the proposed improvement of working capital management under the supply chain reform.The main conclusions of this paper include: First,the supply chain reform of Meibang has made some changes to the original virtual supply chain model.This has indeed achieved certain results in the initial stage of the reform,such as the gradual reduction of inventory,accounts receivable and payable management has been improved.However,the persistence of this effect is not long-lasting.The problems that existed before the change were exacerbated with the increase in the time of change.The change did not achieve the desired results,and it can even be said to be a failure.Therefore,the supply chain reform did not help the management of the working capital of Meibang,and the situation became more complicated.In addition,this paper also put forward its own suggestions on the deterioration of the management of working capital of Meibang.On the one hand,the working capital of garment production and sales enterprises is closely related to the supply chain.Therefore,it is necessary to improve the relationship between the management of working capital and the supply chain.On the other hand,the working capital also belongs to the internal funds of the enterprise,so it must be established.The relationship between working capital management and internal control must be established.The main contribution of this paper is to select the famous American fashion apparel in the casual wear industry as the research object,analyze the changes in the performance of the working capital management after the implementation of the supply chain reform,ask questions,find the reasons and give reasonable suggestions,so as to give hope.Apparent companies that have achieved the goal of improving business performance through supply chain transformation provide inspiration.In addition,when doing performance analysis,this article does not stick to the fixed working capital performance indicator selection method,but comprehensively considers the industry characteristics and supply chain characteristics of Meibang and selects financial indicators that meet industry characteristics and supply chain characteristics.Performance is assessed to pursue a comprehensive exploration of the management of the working capital of Meibang.