Research On Working Capital Management Of G Power Company From The Perspective Of Channel

With the transformation of social economy and the deepening of power system reform,the significance of power industry in social and economic development and ordinary people’s daily life has become more prominent after the "double carbon" goal has been clearly put forward.However,at present,there are still some problems in the working capital management mode of China’s power companies,such as unreasonable capital distribution,imperfect guarantee of the company’s operating capital and so on.Working capital management is an important subject of financial management.The level of working capital management has an important impact on the survival and development of an enterprise.Improving and optimizing working capital management has become an inevitable choice for power companies.Therefore,how to achieve a higher level,higher quality and higher level of development in the financial field has become an important issue for power companies.As a representative power company in the industry,G power company is a large-scale and powerful listed power company.Recently,G power company has been approved for photovoltaic and offshore wind power projects,which plays an extremely important role in green power construction in Southwest China.Therefore,the research on its working capital management will help to change the current situation that the working capital management level of the domestic power industry is generally low.The research on the working capital management of G power company is based on the comprehensive application of channel management theory,customer relationship management theory and supply chain management theory.Using the method of comparative analysis,this paper compares the financial operation of G power company with the financial operation data of the leading company,China Guangdong Nuclear Power Corporation,and analyzes the traditional working capital management elements of the two companies in the traditional working capital management theory.Using the case analysis method and channel management theory,this paper analyzes the current situation of G power company’s working capital management from the four dimensions of procurement channel,production channel,sales channel and financial channel,and finds out the problems existing in the process of working capital management.These problems mainly include: the amount of working capital occupied by inventory in the procurement channel is large,and accounts payable and notes payable grow too fast;Improper production plan in the production channel leads to overstock of inventory products and insufficient management of other payables;The management of receivables in the sales channel needs to be strengthened,and the holding amount of advance receipts is relatively reduced;Among the financing channels,the external financing channel is single,and the use efficiency of monetary funds needs to be improved.The reasons mainly come from four aspects: the rationality of material demand planning in procurement channels still needs to be improved,and the supplier relationship system needs to be improved;Lack of inter departmental communication and sharing of information within the production channel,and lack of management of other payables;The credit management system of accounts receivable in sales channels is not perfect,and the customer credit evaluation system is not perfect;There is a lack of innovation in the awareness of financing methods in financial channels,and there are defects in the management of monetary funds.In view of the problems in the working capital management of G power company,this paper comprehensively uses the literature research method,and combines the customer relationship management theory and supply chain management theory to formulate strategies from four aspects to improve the working capital management level of G power company: strengthen the working capital management in the procurement channel,improve the internal control system of inventory,enhance the inventory turnover management,establish a centralized bill management system,and strengthen the management and control of bills payable;Strengthen the management of working capital in the production channel,strengthen the control and supervision of production plan,improve the production and operation efficiency,refine the project process management control,and increase the project benefits;Improve the working capital management of sales channels,establish accounts receivable management system,strengthen accounts receivable management,strengthen customer hierarchical marketing management,and improve the ratio of advance receipts;Improve the working capital management of financial management channels,build a diversified mixed financing mode,broaden external financing channels,optimize the centralized fund management mode,and improve the efficiency of fund use.