With socio-economic development, working capital management has become an increasingly important component of financial management theory. In the face of ongoing market changes and intense competition, sound working capital management is essential for the stable operation and long-term development of enterprises.Therefore,companies need to strengthen their working capital management. Due to their specific characteristics,dairy enterprises often require large-scale working capital to support production,making it even more critical for them to enhance their working capital management capabilities.This paper took Manor Ranch as the research object and analyzed the effectiveness of its working capital management based on channel theory,aiming to propose suitable improvement strategies for corporate working capital management.