I 摘要 营运资金是企业的生命之基与力量之源，有效的营运资金管理可以使企业降低 资金链断裂的风险。近年来企业营运资金的管理主要基于对单个项目的周转期进行 效果评价，而企业最为关心的是如何高效、安全的使用营运资金，使其发挥更大的 作用，从而使企业获取更大的利润。ZD 公司作为一家上市公司，做好营运资金管理 工作对企业的可持续发展及提升竞争力至关重要。本文以 ZD 公司作为研究对象，基 于对营运资金管理相关理论的深入学习和了解，首先对 ZD 公司的营运资金管理现状 进行分析和评价，指出该企业在营运资金管理方面存在的主要问题及原因，在此基 础上提出了解决该企业营运资金管理问题的具体对策，最后从重视营运资金管理中 的“短板”及增强渠道管理意识、加强各部门合作并重视业务流程整合、改进营销渠 道及客户关系管理与维护等方面对营运资金管理对策实施的保障措施进行了探讨。 通过采用数据分析、比较研究等方法，在传统的营运资金要素管理分析的基础上整 合了渠道管理和供应链管理，改善了传统的要素分析关联性弱的状态，增强了管理 者对营运资金的整体管理意识，有效提升了营运资金管理的效率；论文的研究成果 对于 ZD 公司解决营运资金管理问题具有一定的参考价值，此外也为其他企业做好营 运资金管理工作提供了有益的借鉴。 关键词 ZD 公司；营运资金；营运资金管理；渠道管理Abstract II Abstract Working capital is the foundation and source of strength of an enterprise. Effective working capital management can reduce the risk of capital chain rupture. In recent years, the management of working capital of enterprises is mainly based on the evaluation of the effect of the turnover period of a single project, while enterprises are most concerned about how to use working capital efficiently and safely so that it can play a greater role, so that the enterprise to obtain greater profits.ZD Company, as a listed company, does well the working capital management work to the enterprise's sustainable development and promotes the competitive power to be essential. In this paper, ZD company as the research object, based on the theory of working capital management in-depth study and understanding, first of all, ZD Company's working capital management status analysis and evaluation, this paper points out the main problems and causes existing in the working capital management of the enterprise, and on this basis, advances some concrete countermeasures for solving the problems in the working capital management of the enterprise, finally, the paper discusses the measures to guarantee the implementation of working capital management from the aspects of paying attention to the "short board" in working capital management and increasing the consciousness of channel management, strengthening the cooperation among various departments and paying attention to the integration of business process, improving the marketing channel and the management and maintenance of customer relationship. By using the methods of data analysis and comparative study, this paper integrates the channel management and supply chain management on the basis of the traditional analysis of working capital elements, and improves the weak relevance of the traditional element analysis, the research results of this paper have certain reference value for ZD company to solve the problem of working capital management, which can help ZD company solve the problem of working capital management, in addition, it also provides a useful reference for other enterprises to manage working capital. Keywords ZD Company; Working Capital; Working Capital Management; Channel Management目 录 III 目 录 摘要...................................................................................................................................I Abstract ................................................................................................................................II 第1章 绪 论...................................................................................................................... 1 1.1 研究背景及意义...................................................................................................... 1 1.1.1 研究背景 .......................................................................................................... 1 1.1.2 研究意义 .......................................................................................................... 1 1.2 国内外研究现状...................................................................................................... 2 1.2.1 国外研究现状 .................................................................................................. 2 1.2.2 国内研究现状 .................................................................................................. 3 1.3 研究方法及技术路线.............................................................................................. 5 1.3.1 研究方法 .......................................................................................................... 5 1.3.2 技术路线 .......................................................................................................... 5 1.4 研究内容及创新点.................................................................................................. 5 1.4.1 研究内容 .......................................................................................................... 5 1.4.2 论文的创新点 .................................................................................................. 7 1.5 本章小结.................................................................................................................. 7 第2章 营运资金管理相关理论综述................................................................................. 9 2.1 营运资金相关概念.................................................................................................. 9 2.1.1 营运资金定义及分类 ........................................................................................ 9 2.1.2 营运资金管理概念及目标 ................................................................................ 9 2.2 传统的营运资金管理理论...................................................................................... 9 2.2.1 传统的营运资金分类 ...................................................................................... 9 2.2.2 传统的营运资金管理绩效评价指标 ............................................................ 10 2.2.3 传统的营运资金管理理论的局限性 .............................................................11 2.3 基于渠道管理的营运资金管理理论.................................................................... 12 2.3.1 基于渠道管理的营运资金的分类 ................................................................ 12 2.3.2 基于渠道管理的营运资金绩效评价指标 .................................................... 12 2.4 本章小结 .................................................................................................................. 12 第3章 ZD公司营运资金管理现状分析.......................................................................... 13 3.1 ZD公司概况........................................................................................................... 13 3.1.1 公司简介 ........................................................................................................ 13河北科技大学硕士学位论文 IV 3.1.2 公司组织结构图 ............................................................................................ 13 3.1.3 股本概况 ........................................................................................................ 14 3.1.4 员工概况 ........................................................................................................ 15 3.2 ZD公司营运资金管理制度分析........................................................................... 16 3.2.1 流动资产管理制度分析 ................................................................................ 16 3.2.2 流动负债管理制度分析 ................................................................................ 18 3.2.3 营运资金管理相关业务流程分析 ................................................................ 18 3.3 ZD公司营运资金规模结构分析........................................................................... 20 3.3.1 流动资产规模结构分析 ................................................................................ 20 3.3.2 流动负债规模结构分析 ................................................................................ 23 3.4 基于要素的营运资金管理绩效分析.................................................................... 25 3.4.1 营运资金周转期分析 .................................................................................... 25 3.4.2 ZD 公司短期偿债能力分析.......................................................................... 30 3.5 基于渠道的营运资金管理绩效分析.................................................................... 32 3.5.1 采购渠道营运资金周转期分析 .................................................................... 32 3.5.2 生产渠道营运资金周转期分析 .................................................................... 33 3.5.3 销售渠道营运资金周转期分析 .................................................................... 35 3.5.4 经营活动营运资金周转期分析 .................................................................... 36 3.6 本章小结................................................................................................................ 37 第4章 ZD公司营运资金管理问题及原因分析.............................................................. 39 4.1 ZD公司营运资金管理存在的主要问题............................................................... 39 4.1.1 采购渠道应付账款周转期较长 .................................................................... 39 4.1.2 生产渠道存货周转速度较慢，占用资金较严重 ........................................ 39 4.1.3 销售渠道应收账款回收速度较慢 ................................................................ 40 4.2 ZD公司营运资金管理存在问题的原因分析....................................................... 40 4.2.1 采购渠道与供应商沟通信息化程度较低 .................................................... 40 4.2.2 生产渠道业务流程信息沟通能力较弱 ........................................................ 40 4.2.3 销售渠道渠道开发与维护，及客户维护管理能力不足 ............................ 41 4.3 本章小结 .................................................................................................................. 41 第5章 ZD公司营运资金管理优化对策.......................................................................... 43 5.1 采购渠道营运资金管理对策................................................................................ 43 5.2 生产渠道营运资金管理对策 ............................................................................ 44 5.2.1 完善生产计划提高生产流程协作力 ........................................................ 44 5.2.2 降低生产成本开发新产品 ........................................................................ 44目 录 V 5.3 销售渠道营运资金管理对策 ............................................................................ 45 5.3.1 设立信用管理部门 .................................................................................... 45 5.3.3 开拓新的营销渠道 .................................................................................... 46 5.4 本章小结................................................................................................................ 46 第6章 营运资金管理优化对策实施的保障措施........................................................... 47 6.1 重视营运资金管理中的“短板”，增强渠道管理意识 ........................................ 47 6.2 加强各部门合作，重视业务流程的整合............................................................ 47 6.3 改进营销渠道及客户关系管理与维护................................................................ 48 6.3.1 改进营销渠道管理与维护 ............................................................................ 48 6.3.2 改进客户关系管理与维护 ............................................................................ 48 6.4 本章小结................................................................................................................ 49 结 论................................................................................................................................. 51 附 录................................................................................................................................. 53 附录 A........................................................................................................................ 53 附录 B ........................................................................................................................ 56