会计学院知识库

营运资金管理是企业进行财务管理的重要一环，在企业可持续发展过程中扮演着重要的角色。营运资金高效管理的关键点在于加快资金周转速度，减少不确定性因素造成可支配资金短缺问题，间接的降低企业资金运转成本，实现企业健康发展。在此基础上本文选用要素理论和渠道理论作为依据，将其与企业营运资金管理相结合，深刻刨析了双视角下光明乳业营运资金管理状况，并根据近五年营运资金情况分析其成因和所产生的结果，最后对如何从双要素角度加强公司营运资金管理提出一些建议。

本文基于双视角下营运资金的管理理论，为后文针对光明乳业的营运资金管理具体情况的分析打下了理论基础。通过研究分析近五年的报表和年度报告，首先对光明乳业的公司基本情况进行了简单介绍，其次，从要素视角下和渠道视角下对光明乳业营运资金结构进行详细分析，对基于双视角下的营运资金管理绩效进行分析，发现光明乳业营运资金管理过程中仍然存在的问题，主要有存货积压严重、应收账款回收速度慢、其他应付款占比过高、与供应商关系不稳定等问题。最后基于上述存在的问题，结合营运资金管理要素，在要素视角下和渠道视角下提出营运资金管理优化的建议，最后得出光明乳业的营运资金管理方法较为单一，缺少具体的业务流程和项目的深度探讨。

Working capital management is an important part of financial management for enterprises, and plays an important role in the sustainable development process of enterprises. The key to efficient management of working capital is to accelerate the speed of capital turnover, reduce the shortage of disposable capital caused by uncertain factors, indirectly reduce the cost of enterprise capital operation, and achieve healthy development of enterprises. On this basis, this article selects the factor theory and channel theory as the basis, combines them with the enterprise working capital management, deeply analyzes the working capital management situation of Bright Dairy from a dual perspective, analyzes its causes and results based on the working capital situation in the past five years, and finally puts forward some suggestions on how to strengthen the company's working capital management from a dual factor perspective.

This article is based on the working capital management theory from a dual perspective, laying a theoretical foundation for the subsequent analysis of the specific situation of working capital management of Bright Dairy. Through research and analysis of the statements and annual reports of the past five years, first of all, a brief introduction to the basic situation of the company of Bright Dairy was given. Secondly, a detailed analysis of the working capital structure of Bright Dairy was conducted from the perspective of factors and channels, and the performance of working capital management based on a dual perspective was analyzed. It was found that there are still problems in the working capital management process of Bright Dairy, mainly including serious inventory backlog Problems such as slow recovery of accounts receivable, high proportion of other accounts payable, and unstable relationships with suppliers. Finally, based on the above existing problems, combined with working capital management elements, suggestions for optimizing working capital management are proposed from the perspective of elements and channels. Finally, it is concluded that the working capital management method of Bright Dairy is relatively simple and lacks in-depth discussion of specific business processes and projects.