| With the development of economic globalization,market competition is increasingly fierce.Under this background,if enterprises want to gain a foothold and expand the industrial chain to seek development,they cannot do without perfect cash flow management.Cash flow is like the "blood" of an enterprise,and the smooth flow of cash flow can ensure the daily operation of business operations.The traditional cash flow management research scope is limited to the internal of the enterprise,ignoring the impact of external suppliers and customers on the enterprise’s cash flow.From the internal perspective of the enterprise,cash flow management may be perfect.From the perspective of the entire value chain,it may not be optimal.This article takes the well-known company C in the lighting industry as a case study object and studies its cash flow risk management from the perspective of the value chain.First,through the literature research method to sort out relevant theories at home and abroad,understand the domestic and foreign research status of value chain management and cash flow risk management,and summarize the relevant theories.Second,this article analyze the current status of company C’s cash flow risk management and use financial analysis to identify company C’s cash flow risks from all aspects of the value chain.Thirdly,according to the objectives of cash flow risk management,an analytic hierarchy process is used to construct a cash flow risk assessment system from the four dimensions of cash flow debt repayment,liquidity,profitability and growth,and quantify the cash flow risk of company C.then,it uses the comparative analysis method to compare the company C’s cash flow risk in the past four years and compares the company C’s cash flow risk with the industry average from a horizontal perspective to analyze whether the company C’s cash flow risk management has reached the cash flow risk management of safety and value creation goals,and summarize the incentives of company C’s cash flow risk.Finally,based on the identification and assessment results of cash flow risk of company C,risk control suggestions are proposed from the perspective of value chain in combination with its cash flow risk incentive,hoping to provide reference for other enterprises in the lighting industry. |
