| The working capital penetrates into every link of the enterprise’s business activities,and the benefit of the enterprise is closely related to the state of the working capital.In recent decades,China’s auto production and sales have been in a state of rapid growth,but with the increasingly severe economic environment,China’s auto industry began to enter a platform period of development.Enterprises are facing more and more complex economic environment,industry competition is more and more fierce,if enterprises want to long-term and stable development,improve the level of working capital management is the only way.Today,with the rapid development of the Internet,the connection between enterprises and the external environment is becoming more and more close,and the connection between enterprises and the internal production and operation links is becoming more and more important.The traditional mode of working capital management has shown its limitations,and the single index evaluation has been difficult to expose the deep problems existing in the enterprise’s working capital management.Value chain theory emphasizes the overall benefit of the enterprise,connects all the activities of the enterprise to form a whole,and its relationship with working capital is also very close.Therefore,the combination of working capital management and value chain can improve the level of working capital management of enterprises.As an automobile manufacturing enterprise,C Automobile Company has been among the best in China in the production and sales of its own brand automobiles for many years.However,like most of the automobile manufacturing industry,C Automobile Company has been facing working capital management problems such as high bills receivable.This is mainly due to the current working capital management method,C Automobile Company attaches more importance to the optimization of single elements,as well as the increase of its own interests,and neglect the link between each element and the synergy between upstream and downstream enterprises,which lead to the company’s working capital structure is unreasonable,management of working capital the effect not beautiful.The value chain is introduced to manage the working capital of C Automobile Company.Combined with the situation of the automobile manufacturing industry and C Automobile Company itself,a more comprehensive evaluation index is selected and determined,and the AHP is used to construct the working capital management index system of C Automobile Company based on the value chain.On the one hand,it is conducive to the comprehensive management of various elements of working capital;on the other hand,it is conducive to the establishment of a good cooperative relationship between the company and upstream and downstream enterprises.Through the analysis of the working capital management based on the value chain,it is found that the perspective based on the value chain can more comprehensively reflect the real situation of the working capital management of enterprises,dig deeper management problems,and more effectively avoid the situation of paying attention to one thing and losing the other in the working capital management.In this paper,the management of working capital is placed in the overall business activities of the enterprise,so that C Automobile Company can fully and comprehensively consider all aspects of its production and business activities.In this way,it is clear what are the key links of the value chain that have an impact on the working capital management and overcome the limitations of the traditional working capital management system,which is conducive to the realization of the maximum value in each operation link of C Automobile Company and the long-term and stable sustainable development of the enterprise in the fierce competitive environment. |
