Research On Working Capital Management Of T Coal Company Based On "Factor Channel" Dual Perspective

Reasonable management and control of working capital is not only a necessary condition for the normal operation of enterprises,but also an important guarantee for investment and financing of enterprises.Therefore,to enhance the vitality of enterprises is to improve the efficiency of the use of working capital.With the deepening of the transformation of China’s economic development model,various factors are restricting the development of coal resource enterprises,and the "glory" of the past has disappeared.At the present stage,the development momentum of new energy is strong.Due to the limitations of technology and economic benefits,it is not enough to replace coal resources on a large scale.As time goes by,the dominant position of coal resources in China’s energy structure will be continuously challenged by new energy resources.Therefore,it is very necessary to improve the working capital management level if coal enterprises want to develop continuously in the severe market environment.Taking T coal company as the research object,this paper attempts to explore a series of problems in working capital management from two perspectives,so as to provide some feasible suggestions for improving the working capital management level,enhancing the competitive advantage of the enterprise and promoting the healthy development of the enterprise.First of all,through the collection of T coal company’s financial data and related documents,analysis of the company’s working capital management status quo,found that T coal company’s working capital management is one-sided,has its limitations.Secondly,based on the relevant theoretical research of working capital management,this paper introduces the dual-perspective working capital management theory.From the perspectives of elements and channels,it makes a comprehensive analysis of the key project indicators of the working capital of the enterprise and the working capital in various business processes,and adopts the comparative analysis method to make a comprehensive analysis from the vertical and horizontal perspectives.Combined with the questionnaire survey to find out the bad factors existing in the working capital management of T coal industry company.Specific performance: high commercial credit risk,low supplier concentration,high labor cost,lack of money recovery and assessment mechanism,coal product inventory backlog.Based on the above findings,based on the dual-perspective theory,combined with working capital management elements,optimization strategies are proposed for specific links such as procurement,production and sales.Specific performance: adopt diversified financing methods,determine reasonable commercial credit line,consolidate the existing suppliers and develop new suppliers,improve production technology,limit the amount of accounts receivable,strengthen the maintenance of sales channels,etc.