会计学院知识库

在市场环境持续变化、现代企业管理持续革新、企业之间的联系越来越密切的背景下，传统的、只对单一项目进行分析的营运资金管理方式已经不适用于企业当下所面临的内外部环境。因此营运资金管理的相关研究开始扩展到业务层面，逐渐地融合渠道及价值链等相关理论。在此基础上，从供应链角度出发，通过对企业经营过程中各个业务环节营运资金的管理进行优化的方法，可以使企业财务与业务、资金与运营更好的结合，使供应链上下游企业以竞合取代竞争，从而提高企业的营运资金管理能力，使整个供应链上的企业达到合作共赢的效果。

因此，本文选取国轩高科股份有限公司为案例对象，在梳理国内外营运资金管理研究成果的基础上，以营运资金管理理论、供应链管理理论为出发点，选取案例公司2017年-2021年的财报数据，分析公司整体财务状况和营运资金状况，以从整体上了解公司营运资金管理水平。再从供应链的角度出发对公司的营运资金进行重新分类，并以行业龙头宁德时代作为对比，分析公司经营活动各环节营运资金管理现状，探究其管理中存在的问题及成因。最后，针对目前公司营运资金管理中存在的问题，提出相应地改进措施，以达到优化国轩高科营运资金管理的目的。不仅为公司改善营运资金管理状况和自身的健康持续发展提供了思路，同时也对我国动力电池制造企业的营运资金管理问题研究提供了参考，有一定的理论和实践意义。

Under the background of continuous changes in the market environment, continuous innovation of modern enterprise management, and increasingly close connection between enterprises, the traditional working capital management method of only analyzing a single project is no longer suitable for the internal and external environment faced by enterprises. Therefore, the research related to working capital management began to expand to the business level, gradually integrating relevant theories such as channels and value chains. On this basis, from the perspective of the supply chain, through the optimization of the management of working capital in each business link in the process of enterprise operation, the combination of enterprise finance and business, capital and operation can be better achieved, so that upstream and downstream enterprises in the supply chain can replace competition with coopetition, so as to improve the working capital management ability of enterprises and enable enterprises in the entire supply chain to achieve win-win cooperation.

Therefore, this paper selects Guoxuan Hi-Tech Co., Ltd. as the case object, on the basis of combing the research results of working capital management at home and abroad, taking working capital management theory and supply chain management theory as the starting point, selects the financial report data of the case company from 2017 to 2021, analyzes the company's overall financial status and working capital status, and understands the company's working capital management level as a whole. Then, from the perspective of supply chain, the company's working capital is reclassified, and the industry leader CATL is used as a comparison to analyze the current situation of working capital management in all aspects of the company's business activities, and explore the problems and causes in its management. Finally, in view of the current problems in the company's working capital management, corresponding improvement measures are proposed to achieve the purpose of optimizing the working capital management of Guoxuan Hi-Tech. It not only provides ideas for the company to improve the working capital management and its own healthy and sustainable development, but also provides a reference for the research on working capital management of China's power battery manufacturing enterprises, which has certain theoretical and practical significance.