Research On Cash Flow Risk Management Of Lanzhou Yellow River From The Perspective Of Value Chain Analysis

Cash flow is the lifeblood of enterprises,and a smooth cash flow is essential to ensure the stable operation of daily business activities.As cash flow passes through every link of internal and external value chains,traditional cash flow management research only focuses on internal links such as production and sales,neglecting the impact of external entities such as suppliers,banks,and customers on enterprise cash flow.Cash flow risk management based on internal and external value chains can effectively integrate internal and external resources of enterprises,improve the overall cash flow efficiency,and achieve the maximization of enterprise value.This study takes Lanzhou Yellow River,a listed beer enterprise,as a case study object and investigates the risk issues in its cash flow management based on value chain analysis.Firstly,by reviewing a large amount of relevant literature at home and abroad,this study summarizes the research conclusions of domestic and foreign scholars on value chain,cash flow risk management,and the combination of the two,which are used to guide the research of this paper.Secondly,combining with the cash flow management status of Lanzhou Yellow River,this study identifies the risks in the cash flow management of each link in Lanzhou Yellow River’s value chain and summarizes the cash flow risk factors of Lanzhou Yellow River.Thirdly,using the Analytic Hierarchy Process(AHP),this study constructs a cash flow risk assessment system that reflects four dimensions of safety objectives,including cash flow solvency,liquidity,and profitability,and value creation objectives,including profitability and growth,and quantifies the cash flow risk level of Lanzhou Yellow River.Then,the cash flow risk level of Lanzhou Yellow River in the past five years is compared longitudinally and horizontally,and the cash flow risk of Lanzhou Yellow River is evaluated from the perspective of the overall and individual indicators and further analyzed from the perspective of the value chain.Finally,based on the results of the identification and evaluation analysis of Lanzhou Yellow River’s cash flow risk,this study proposes risk control suggestions for various links in the value chain,on the internal value chain,the enterprise should accurately purchase based on sales forecasts and demand plans,implement lean production measures,expand new retail channels,and focus on the R&D of mid-to-high-end beer.Meanwhile,external cash flow risks in the value chain can be controlled by measures such as establishing value alliances with suppliers,establishing a Customer Relationship Management(CMR)marketing system,and designing reasonable diversified financing plans.It is hoped that this study can be helpful for the cash flow management of Lanzhou Yellow River and provide reference for other beer enterprises.