Research On Performance Evaluation And Optimization Of Working Capital Management Of J Company Based On Value Chain

In recent years,the pattern of world economy changes rapidly.Chinese ship manufacturing enterprises are facing fierce international competition.The scope of competition not only covers the traditional product competition,but also includes the management mode,strategic direction,business process and technical level of enterprises,and strengthen the performance evaluation of enterprise working capital management,Improving the management level of enterprise working capital is an effective way to deal with the fierce market competition.Working capital is vital to maintain the normal operation of enterprises,and runs through all aspects of enterprise purchase,production and sales.By constantly optimizing the management of working capital,it is conducive to the rational allocation of resources for enterprises,thus creating value for enterprises.Therefore,it is of great practical significance for shipbuilding enterprises to build a performance evaluation system for working capital management.The existing performance evaluation of working capital management mostly starts from the two perspectives of factor and channel theory,and only includes financial indicators,so it is impossible to evaluate the management level of working capital through specific business activities of enterprises.According to the value chain theory,non-financial evaluation indicators can be introduced to make up for this defect.Therefore,this thesis first uses the value chain theory for reference,combines the characteristics of J Company,selects evaluation indicators from three dimensions of internal value chain,horizontal value chain and vertical value chain,including seven first level indicators and 27 second level indicators of finance,internal process,learning and growth,competitiveness,cooperation ability,suppliers and customers,and constructs the performance evaluation system of J Company’s working capital management based on the value chain;Secondly,use Analytic Hierarchy Process(AHP),supplemented by YAAHP software,to assign weights to indicators;Once again,use the fuzzy comprehensive method for comprehensive evaluation and obtain the evaluation results.Finally,according to the problems found in the evaluation results of enterprise working capital management,the corresponding countermeasures are proposed to improve the management level of working capital.This thesis uses the value chain theory for reference to build a value chain based working capital management performance evaluation system of J Company.On the one hand,it enriches the application of the value chain theory in the shipbuilding field,and on the other hand,it also provides new ideas and perspectives for the performance evaluation of working capital management of shipbuilding enterprises.Compared with traditional evaluation methods that only focus on financial indicators,this performance management evaluation system has made a breakthrough on the basis of previous methods,which can help shipbuilding enterprises to judge their working capital management level more comprehensively and deeply,find and solve problems in enterprise working capital management,help shipbuilding enterprises to improve working capital management performance and enhance their market competitiveness.