营运资金管理作为财务管理的重要组成部分，对企业管理起到至关重要的作用。 营运资金管理效率直接影响公司流动资金动向和总体经营效益。合理的营运资金水平 既能保证企业有足够的偿债能力和融资能力，还可以帮助企业提高信用加快资金周转 速度。随着我国经济与世界经济发展的一体化，我国的企业规模以及企业资产也在随 之增加，其资金流动较以往要频繁得多。在新形势下，怎样管理好营运资金，对企业 的未来经营具有重要影响。加强企业资金管理、优化内部财务体系不仅能够为企业的 稳定运行提供必要的资金保障，还能够提升企业营运资金的周转水平，令企业节约营 运资金使用成本，实现企业的可持续发展。 WY 货代公司是一家从事国际货运代理行业的公司，财务制度在遵照上级公司规 范要求外，结合自身公司特点，制定了一套财务制度，但随着公司业务量的变化，利 润却未见明显增长，目前仅仅通过对单一要素流动资产和流动负债进行分析，不能全 面反映公司业务情况、成本消耗情况。随着公司各大部门往来越来越密切，应从业务 对手，分析上下游关系，整体分析公司营运资金状况。 本文采用数据分析法、案列分析法，建立相关营运资金分析模型，在梳理当前国 内外的研究文献之后，对现阶段的企业经营管理进行了深入的剖析和探究，并指出了 传统资金运营管理的不足之处，基于王竹泉教授提出的融合营运资金管理、渠道关系 管理、客户关系管理与供应链管理的新理论架构，从新角度对营运资金进行分析和重 分类，然后对 WY 货代公司流动资产、流动负债内部结构进行分析，得出单一的供应 商关系影响营运资金，销售方式的选择导致信用风险、客户集成度松散、内控流于形 式等八大问题进而影响营运资金。其次根据 WY 货代公司的行业特征，从渠道管理角 度分析公司的营运资金现状以及导致问题的原因及不足之处，同时针对现状提出了改 进建议，优化营运资金管理模式，最后期望通过对 WY 货代公司营运资金管理进行优 化，找出货代行业的部分共性，克服营运资金管理方面的不足，对货代行业的发展起 到一定作用。 关键词：营运资金管理；WY 货代公司；渠道管理I ABSTRACT As an important part of financial management, working capital management plays a crucial role in enterprise management. Working capital management efficiency directly affects working capital trend and overall operating efficiency. Reasonable working capital level can not only guarantee the enterprise has sufficient debt paying ability and financing ability, but also can help the enterprise to improve credit and speed up capital turnover. In today's highly integrated world economy, companies are growing in size and amassing more assets, its capital flow is especially frequent than before. Under the new circumstances, how to manage the working capital has an important influence on the future management of the enterprise.For modern enterprises, optimizing the management of working capital can not only provide necessary capital guarantee for the stable operation of the enterprise, but also improve the working capital turnover level of the enterprise, make the enterprise save working capital cost and realize the sustainable development of the enterprise. WY forwarder company is a company engaged in international freight forwarding industry, the financial system in general in accordance with the requirements of the code for the last company, combining with the characteristics of their own company, developed a financial institution, but as the change of business volume, profit is not seen obvious growth, currently only through the single factor analysis current assets to current liabilities, cannot fully reflect the company's business situation, the cost of consumption. As the company's major departments are increasingly close to each other, the company should analyze the upstream and downstream relationship from its business rivals and the company's working capital status as a whole. Based on the data analysis, case analysis, the establishment of related analysis model of working capital, on the premise of combing the current research status at home and abroad, summarizes the modern enterprise operation and management of the introduction of the deficiency of traditional theory of working capital management, based on professor Wang ZhuQuan fusion of working capital management, channel relationship management, customer relationship management and supply chain management theory of the new architecture, from the new Angle of analysis and classification of working capital, and then to WY forwarding company current assets, current liabilities structure is analyzed, it is concluded that a single supplier relationships affect working capital, The choice of sales mode leads to eight major problems, such as credit risk, loose customer integration and internal control in form, which affect working capital. Secondly according to the characteristics of WY forwarding company, from the perspective of the company's working capital the channel management status quo and the cause of the problem and deficiency, in view of the status quo proposed the Suggestions for improvement at the same time, theII optimization of working capital management mode, the last hope of WY forwarding company working capital management is optimized, find out the forwarding industry parts commonality, overcome the shortage of working capital management, play a role on the development of freight industry. KEYWORDS: Working capital management ;WY forwarder Company ;Channel Management1 目 录 第一章 绪论............................................................................................1 第一节 研究背景及意义....................................................................................1 一、研究背景.................................................................................................1 二、研究意义.................................................................................................1 第二节 相关文献综述..........................................................................................2 一、渠道管理理论研究.................................................................................2 二、渠道管理下营运资金研究.....................................................................3 三、文献述评.................................................................................................5 第三节 研究思路与研究方法............................................................................7 一、研究思路.................................................................................................7 二、研究方法.................................................................................................8 第四节 本文的创新点及不足............................................................................9 一、本文的创新点.........................................................................................9 二、本文的不足.............................................................................................9 第二章 相关概念界定及基础理论......................................................10 第一节 相关概念界定........................................................................................10 一、资金链...................................................................................................10 二、营运资金...............................................................................................10 第二节 理论基础.............................................................................................. 11 一、渠道管理理论....................................................................................... 11 二、供应链管理理论...................................................................................12 三、客户关系管理理论...............................................................................13 第三节 渠道理论下营运资金的项目分类及评价指标..................................13 一、基于渠道理论的营运资金项目分类...................................................13 二、基于渠道理论的营运资金管理绩效评价指标...................................15 第三章 WY 货代公司营运资金管理现状分析..................................16 第一节 WY 货代公司简介 ..............................................................................16 第二节 WY 货代公司营运资金管理现状分析 ..............................................172 一、流动资产内部结构................................................................................17 二、流动负债内部结构................................................................................20 三、营运资金周转效率................................................................................22 四、现行营运资金管理存在的问题及原因................................................23 第四章 基于渠道理论的 WY 货代公司营运资金管理优化.............26 第一节 WY 货代公司行业特征.......................................................................26 第二节 采购渠道营运资金管理优化...............................................................26 一、供应商关系管理策略............................................................................27 二、采购渠道营运资金管理绩效................................................................28 第三节 销售渠道营运资金管理优化...............................................................29 一、客户关系管理策略................................................................................29 二、销售方式选择策略................................................................................32 三、销售渠道营运资金管理绩效................................................................34 第五章 结论与对策建议......................................................................35 第一节 结论.......................................................................................................35 第二节 对策建议...............................................................................................36 一、采购渠道营运资金管理........................................................................36 二、销售渠道营运资金管理........................................................................36 三、商业信用营运资金管理........................................................................37