Research On Accounts Receivable Management Of Upstream Enterprises Under The Backflow Of Manufacturing Industry

In the context of global value chain remodeling,high-end manufacturing technology and industrial capital of developed economies have returned to their home countries,and the proportion of manufacturing in western developed countries represented by G7 slows down.Between 2010 and 2018,manufacturing’s share of GDP in the US fell by just 0.02%,while that of Germany and Japan remained stable over the same period.In 2019,the sudden outbreak of COVID-19 threatened the security of global supply chains and disrupted the supply of international industrial chains,further strengthening the desire of developed countries to localize their manufacturing industries.At the same time,The outline of China’s "14th Five-Year Plan" puts forward the "in-depth implementation of the strategy of manufacturing power",emphasizing "keeping the proportion of manufacturing basically stable",in order to enhance the embeddedness of China’s manufacturing industry.Therefore,China’s large and medium-sized manufacturing enterprises are facing not only the challenge of high-end manufacturing technology reflux,but also the opportunity of digital and intelligent transformation.Therefore,in order to maintain international competitive advantages,Chinese manufacturing enterprises need to enhance the autonomy of core technologies,increase investment in R&D and innovation,and jointly drive the innovation of upstream and downstream enterprises of the industrial chain.Admittedly,this has also increased the scale of capital occupation by large and medium-sized manufacturing enterprises to upstream and downstream enterprises,resulting in the growth rate of receivables of industrial enterprises above designated size in China exceeding GDP growth rate.Based on this,this paper takes accounts receivable management of upstream manufacturing enterprises as the research object.On the basis of the existing accounts receivable management theory and risk management theory,financial analysis method under the Harvard framework is used to carry out quantitative analysis and qualitative evaluation of accounts receivable management of upstream manufacturing enterprises.It is concluded that the case enterprise accounts receivable management under the background of manufacturing reflux has high decision concentration,imperfect internal control system,backward information technology construction,poor accounts receivable recovery and other management problems.As well as limited solvency,insufficient operating capacity,declining profitability and unreasonable capital structure and other financial problems.In this regard,this paper further hierarchical optimization scheme,organizational system level of organizational structure and internal control system configuration and improvement measures;At the technical level,the development and introduction of information technology strategy;On the financial level of capital structure improvement and adjustment suggestions.This paper considers that the case enterprise is representative of upstream enterprises under the background of manufacturing reflux.Through in-depth analysis and evaluation,it summarizes the basic steps to optimize the accounts receivable management of upstream enterprises in China’s manufacturing industry.Firstly,the upstream manufacturing enterprises should establish credit management mechanism,secondly,the upstream manufacturing enterprises should strengthen the accounts receivable management system,and finally,the upstream manufacturing enterprises should strengthen the external supervision and internal evaluation process of accounts receivable.In this paper,the optimization scheme of accounts receivable management of upstream enterprises under the background of manufacturing reflux covers not only the management and control of enterprise accounts receivable business process,but also the restriction of personnel organizational behavior.For example,attention should be paid to the influence of irrational decision-making behavior of management,and the application degree and scope of digital technology should be increased.At the same time,it is expected that this study has reference and application value for enterprises with similar characteristics of accounts receivable management,helping enterprises better balance the risks and expected benefits of accounts receivable management,and achieve the goal of maximization of business benefits.