Performance Evaluation Of Working Capital Management Based On Financial Sharing Mode

The trend of global economic integration is becoming more and more obvious,and the competition among enterprises is becoming more and more fierce.The innovation of management methods has gradually become the core of enterprise concern,and enterprises have begun to seek new forms of organizational structure.As a new financial management model,the emergence of financial sharing services quickly meets the development needs of Chinese enterprises,strengthens the financial control of the branches,subsidiaries and business units,and therefore is favored by many enterprise groups.The construction and implementation of the financial sharing model will also bring different degrees of change to the performance of corporate working capital management.In order to more accurately understand how the financial sharing model affects the performance of corporate working capital management,this paper divides the case study object Suning.com Co.,LTD into the initial stage(2007~2012)and development period(2013~2017)according to the development stage of its financial sharing model.Based on the established performance evaluation system of working capital management,the collected data of each stage are calculated and compared with the industry average,and then analyze the performance of working capital management under the financial sharing mode of Suning.com Co.,LTD in different stages.From financial sharing and channels theoretical perspective find a way to improve the management of corporate working capital,and to provide reference for the working capital management of retail enterprises in the new era.This paper takes case analysis as the research method,and selects Suning 's financial sharing model and working capital management performance for research.Firstly,it analyzes the current situation of Suning's working capital management and the overview of financial sharing mode.Then,according to the data of the procurement channels,marketing channels and working capital in two different stages of Suning's financial sharing model,it can be concluded that the financial sharing model does not immediately improve working capital management in the early stage of construction.Because the improvement of performance,the imperfection of the project itself,the non-integration with the original financial system,and the release process required for utility,its positive effects to some extent offset the negative impact of the financial sharing model during the initial period and the development period.However,after the financial sharing model is mature,it can not only improve the efficiency of financial processes,but also speed up the flow of funds and information streams through process standardization and resource integration,and streamline the channels of working capital circulation,thereby improve the performance of working capital management.Through the research on the case,this paper analyzes the problems existing in the management of working capital of Suning from three aspects: procurement channel,marketing channel and financial sharing mode.The capital occupation of the supplier is serious,and the potential credit risk of the payment is high.The inventory ratio is large,and the inventory turnover period is long.The business process design is separated from the actual operation,and the information system processing efficiency is not high.Therefore,it is suggested that retail enterprises can consider the management of working capital.In the procurement channel,reduce the dependence on suppliers,improve the relationship with suppliers,improve the payment review process.In the marketing channels strengthen management,provide personnel training,speed up the construction of logistics bases,formulate credit policies suitable for enterprises.in the construction of financial sharing models optimize financial sharing service processes,improve work efficiency,increase technological innovation,and improve information systems.