Research On Working Capital Management Of ZJ Company From The Perspective Of Element And Channel

Working capital management is an important part of enterprise financial management and an important way to realize the breakthrough of enterprise's own value.The analysis of working capital management can adopt the perspective of elements and channels.The analysis method from the traditional factor perspective is simple and clear,which can accurately grasp the three "points" of working capital management: inventory,accounts receivable and accounts payable,but there may be factors fragmentation,contradictions and other defects.From the perspective of modern channels,operating funds of operating activities can be divided into procurement channels,production channels and marketing channels.In order to connect the "points" of working capital management elements into the "lines" of various business activities,it makes up for the deficiencies that may exist in the perspective of elements.Combining the element perspective with the channel perspective further realizes the transition from "line" to "plane",which can reveal the real situation of enterprise's capital operation from horizontal and vertical sections.The ZJ company studied in this paper is an integrated service provider of sanitation equipment research and development,production and sales.With the development of marketoriented,mechanized and wide-area sanitation industry,ZJ company needs to put forward higher requirements for its own management level.Starting with the relevant theories of working capital management,this paper expounds the classification,performance evaluation system and their advantages and disadvantages of working capital management from the perspective of factors and channels.Then,the theoretical guidance is introduced into the analysis of ZJ company's management status,and the current situation of ZJ company's working capital management is carefully interpreted from the perspective of factors and channels.Based on the perspective of factors and channels,the main problems of the company's working capital management are put forward respectively.Finally,some suggestions for improvement are put forward from the aspects of system construction,accounts receivable control,inventory management and supplier relationship.This paper combines the "elements" perspective with the "channels" perspective organically,broadens the thinking of enterprise working capital management in theory,and puts forward pertinent improvement plans and coping strategies according to the current situation of ZJ company working capital management in practice.The problems presented by ZJ company's working capital management have both its uniqueness and industry commonness.I hope this article can provide some ideas and solutions for other similar enterprises to solve the problem of working capital.