Research On Accounts Receivable Management Of Y Pharmaceutical Company

In China’s pharmaceutical manufacturing industry,most small and medium-sized pharmaceutical companies with insufficient strength have only obtained drug production licenses,but no drug business licenses.Therefore,it is necessary to use drugs as a middleman to sell drugs to hospitals and other retail markets.Small and medium-sized pharmaceutical companies have longer supply chains.And because the pharmaceutical industry is in the stage of industry consolidation and the market system is maturing,the small and medium-sized pharmaceutical companies in the buyer’s market are under the dual pressure of poor macroeconomic environment and intensified competition within the industry,and adopt a loose credit policy in order to increase sales revenue.The sale of sales methods to increase the willingness of pharmaceutical distribution companies to purchase and establish long-term cooperative relationships.Credit sales make the total amount of accounts receivable in the pharmaceutical industry continue to grow.Accounts receivable is an extremely important part of the working capital of enterprises.Especially when the accounts receivable of small and medium-sized pharmaceutical enterprises cannot be converted into liquid funds in time,their normal operations are subject to The impact is even greater.In 2018,with the comprehensive implementation of the national medical reform policy of canceling the drug add-on and the “two-vote system”,the hospital’s bonus income decreased and the profits of pharmaceutical circulation enterprises declined,which intensified the recovery pressure of the pharmaceutical company’s accounts receivable,and the extensive single The management method of accounts receivable has not been applied to business management under the new environment.Therefore,it is an important issue for current pharmaceutical companies to carry out scientific and effective management of receivables,reduce the operational risks caused by bad debts,and improve the efficiency of capital use.Based on the relevant theories of accounts receivable at home and abroad,this paper takes the small and medium-sized pharmaceutical company Y,which produces gynecological proprietary Chinese medicines,as the research object,and analyzes the formation,quality and management of its accounts receivable.The scale of accounts receivable continued to expand.In 2018,the proportion of current assets and operating income was 70% and 51.6%,respectively.It was higher than the industry level of small and medium-sized pharmaceutical companies.The growth rate exceeded the growth rate of operating income in the past five years.The number of days is too long and the use of funds is inefficient.During the internship process,it was found that the daily supervision of Y company’s accounts receivable was lax,the credit management of customers was not perfect,and the collection effect of accounts was not good.In view of the problems existing in Y company,this paper proposes a corresponding management improvement plan: establish a dynamic supervision and management system for accounts receivable based on “3+1” credit management mode,establish a credit management department,improve the credit mechanism,and establish accounts receivable dynamics.The supervision mechanism and the scientific account collection mechanism enable the enterprise to achieve comprehensive control of the receivables,timely identify problems and solve problems,improve the speed of return and the efficiency of fund use,and improve the performance appraisal system of Y Company for the management of accounts receivable.The program provides guarantees for smooth and effective implementation.This paper explores the problems of Y company’s accounts receivable,provides management plans for small and medium-sized pharmaceutical companies,and provides enterprises with better guarantees for sustainable and healthy development in the new medical reform environment and fierce competition in the industry.At the same time,it provides reference for other small and medium-sized pharmaceutical companies that also have problems with accounts receivable management,which is helpful for scientific and effective management of accounts receivable and for the long-term stable development of enterprises.