Research On Working Capital Management Of Mengniu Dairy Based On Supply Chain

Working capital is the most liquid and turnover capital in an enterprise,and also is the guarantee of smooth operation of enterprises.With the increasingly fierce competition in the market,the management and development of working capital has been transformed from single project management to systematic and holistic management.And the combination of working capital management theory and supply chain management theory is the transformation from capital to operation and finance to business.The management of working capital based on supply chain requires enterprises to consider how to optimize the structure of supply chain and how to deal with the relationship between enterprises from the perspective of supply chain,thus to improve the performance of working capital.Based on the theory of supply chain management and working capital management,this paper will take the management of three channels of working capital based on supply chain in dairy industry as the main research object.After summarize the current situation of working capital management in dairy industry and the characteristics of supply chain in dairy industry,firstly analyze the relationship between enterprise strategy and working capital management of dairy enterprises.Secondly analyze the influence on the working capital of the enterprise by analyzing the purchasing,production and sales channels combined with the factors of supply chain in the channel.Taking Mengniu Dairy Industry as a case,on the basis of analyzing the performance of working capital management,this paper analyzes the current situation and something needs improvement of working capital management based on supply chain by using the three channels of dairy enterprises:supply,production and marketing.First of all,Mengniu Dairy Industry must make it's own enterprise strategy according to it's enterprise characteristics.Next,enterprise should focus on the construction of their own pasture and using information technology to improve purchasing management.Then,the production channels focus on improving theperformance of working capital management.Mengniu Dairy is particularly willing to invest in research and development,at the same time they also pay special attention to product innovation and introduce advanced production technology from abroad,so as to improve the production efficiency of products.Finally,on the marketing channel,Mengniu's working capital management performance needs to be improved.At present,it is necessary to strengthen the management of customer relationship management,priority should be given to establishing diversified distribution channels and speeding up the construction of national sales channels.At the same time,it is necessary to formulate a reasonable credit policy for accounts receivable.Finally,according to the case analysis of Mengniu dairy industry,some reference ideas for the working capital management of Chinese dairy processing enterprises are given.