Research On The Improvement Of Account Receivable Management In HX Pharmaceutical Company

With the gradually advancing of China’s medical and health system reform, andthe enhancement of universal health care consciousness, the demand of medicinemarket continues to expand, the pharmaceutical industry will maintain good growthmomentum. But with the development of health care industry, market competition isintense. In the buyer’s market, pharmaceutical companies have to use the way ofcredit sales to expand sales and improve market share. However, credit sales helpenterprises improve competitiveness, at the same time lead to the increase ofaccounts receivable. If the management of accounts receivable is not appropriate, itwill cause the enterprise funds nervous, and influence the sustainable and healthydevelopment of the enterprise. Therefore, researching on the accounts receivablemanagement of pharmaceutical company, putting forward the correspondingimprovement measures, has important practical significance.In this paper, the research object HX pharmaceutical company, which belongs tothe pharmaceutical industry is a pharmaceutical distribution company. In recentyears, the sales revenue of the company increased year by year, but also the accountsreceivable was in a substantial increase, and the growth rate is greater than therevenue growth. So, strengthen the management of accounts receivable isparticularly important. Based on this, this paper takes the method combining thetheoretical analysis and case study, to analyze the accounts receivable managementpresent situation and existing problems of HX pharmaceutical company, finding thatthe company has problems in beforehand, process and afterwards management ofaccounts receivable. On the basis of the cause of accounts receivable management,this paper references to the entire credit management mode, and combines the theoryof risk management and internal control theory, puts forward the management ofaccounts receivable in the three stages of beforehand, process and afterwards. In thebeforehand control phase, it is necessary to set up the comprehensive managementconsciousness and continuously improve staff quality, to s et up an independentcredit management department and establish a reasonable credit management system.In the process control phase, it is necessary to improve the system of sales forexamination and approval, to do a good job of dynamic tracing accounts receivable,use the factoring to transfer accounts receivable risk, and play a role of good audit supervision. In the afterwards control phase, it is necessary to establish accountsreceivable collection management system, and the accounts receivable colle ctionlinked to performance appraisal, and improve the company rewards and punishmentmechanism. At present, the research on the accounts receivable management ofpharmaceutical company is not much, I hope this paper has a reference value to theaccounts receivable management of HX pharmaceutical company.