| Working capital is the basis of enterprise operation.Good working capital management level can not only ensure the capital needs of daily business activities,but also help enterprises achieve profit growth.Household appliance industry is an important industry in China’s economic development.However,the increasingly fierce competition in the industry leads to the low level of working capital management of domestic household appliance enterprises.The traditional working capital management and performance appraisal methods can not meet the management needs of modern enterprises.The introduction of supply chain related ideas into the working capital management of household appliance enterprises and the evaluation of their working capital management performance not only make up for the lack of traditional working capital management thinking,but also help enterprises fully understand their own working capital performance level and improve the market competitiveness.This paper takes the typical enterprise M company of household appliances industry as the case study,combined with the supply chain theory,to study the performance level of working capital management.First,this paper selects the financial data from 2015 to2019,and analyzes the current situation of working capital management through the traditional key factor turnover period index,and has a general understanding of the working capital management level of M company through analysis;then,using the performance evaluation system of working capital management from the perspective of supply chain,the paper analyzes the working capital management level of each operation link.In the process of analysis,we can make a horizontal comparison between H company and industry average,and then find the problems in working capital management of M company comprehensively,and analyze the causes of the problems;finally,the paper puts forward corresponding improvement measures for the problems in the management of working capital.Through the analysis of this paper,I hope to help the improvement of the working capital management ability of M company,and at the same time summarize the good aspects of the working capital management strategy of M company,and provide some reference for the development of other household appliance enterprises.The main achievements of this paper are as follows:First,the traditional performance evaluation system of working capital management and the performance evaluation system of working capital management from the perspective of supply chain are compared,and the advantages of the latter are analyzed.It can be applied in the research of this paper,and also can provide a way of thinking for other enterprises to study working capital management.Second,the paper analyzes the working capital management of M company by using the performance evaluation system from the perspective of supply chain,points out the problems existing in all aspects of its working capital management in all aspects of its operation activities and puts forward specific improvement measures,which is of positive significance to the improvement of the working capital management level of M company.Third,this paper also summarizes the outstanding aspects of the working capital management strategy of M company,aiming to provide some reference for other household appliance enterprises’ working capital management. |
