Research On Optimization Of Working Capital Of S Company Based On Channel Theory

The business activities of an enterprise cannot be separated from the support of funds.If the funds are not supplied in time,the normal operation of the enterprise will be affected.Therefore,working capital management is very important for enterprises,which is related to the safety of enterprise funds.Good working capital management can strengthen the management of current assets and current liabilities,improve the utilization of enterprise funds,and enable enterprises to develop faster and more smoothly.With the continuous improvement of public health awareness,the demand for medical and health resources is also rising.However,the country has constantly introduced new policies to carry out drug reform and medical reform,which has changed the industry pattern and gradually intensified competition.The traditional working capital management is no longer applicable to modern enterprises,so it is necessary to introduce the channel theory.The combination of the enterprise’s overall working capital management and various production links will help enterprises find their own shortcomings and improve their strength and competitiveness.This thesis takes S Company as a case company.First,it analyzes the current situation of the company’s working capital,and then further analyzes the company’s working capital based on the channel theory.The working capital is divided into three channels: procurement channel,production channel and marketing channel.It analyzes the operating capital turnover rate of each channel,and uses the comparative analysis method to compare the operating capital turnover rate of S Company with that of companies in the same industry,It is found that Company S has problems in the procurement channel,such as overstock of raw materials,rapid growth of accounts payable,resulting in repayment risk and continuous rise of prepayments;Inadequate management of employees in the production channel leads to the continuous increase of employee compensation payable and excessive proportion of other payables;In the marketing channel,there are problems such as overstock of inventory goods occupying working capital,low efficiency of accounts receivable management and unstable relationship with customers.In view of the existing problems,propose suggestions on optimizing the procurement mechanism,monitoring and detecting timely repayment and improving the voice in the procurement channel;Put forward suggestions on improving the enterprise’s employee management system and strengthening the management of other payables in the production channel;Put forward suggestions on marketing channels that can strengthen sales forecast and further expand sales channels,strengthen the management of accounts receivable and strengthen customer relations.It is hoped that the above suggestions can help S Company improve its working capital management ability,and have certain reference value for other pharmaceutical enterprises’ working capital management.