Research On Optimization Of Working Capital Management Of Jointown From The Perspective Of Supply Chain

Working capital management plays an important role in the operation and management activities of enterprises.Efficient working capital management can improve the profitability and liquidity of enterprise funds,and enable enterprises to gain a place in the fiercely competitive market.As one of the core contents of financial management,how to improve the level of enterprise working capital management has always been the focus of research.Traditional working capital management pays attention to the changes of individual funds,ignoring the mutual influence between various projects,which often leads to deviations in the control of the capital chain by enterprises.The increasingly complex market environment has put forward higher requirements for working capital management.The method that considers projects alone is no longer applicable,and the method that introduces supply chain management ideas into working capital management emerges as the times require.From the perspective of supply chain,enterprises can accurately grasp the working capital management level of each link,and the optimization of supply chain management can drive the improvement of working capital turnover efficiency,which is of great significance to the sustainable development of enterprises.The frequent implementation of medical reform policies has brought many opportunities and challenges to the pharmaceutical distribution industry.In order to develop steadily under the new economic situation,advanced working capital management methods are essential.This thesis adopts literature research method,case study method and comparative analysis method,and takes Jointown Pharmaceutical Group as the case to explore its working capital management status from the perspective of supply chain.First of all,this thesis sorts out the research results of supply chain and working capital management at home and abroad,expounds its concept and theoretical basis in detail,and clarifies the research direction of this thesis.Secondly,it introduces the basic situation of the pharmaceutical circulation industry and the current situation of the supply chain management of Jointown,and analyzes the working capital management status of Jointown based on the perspective of the supply chain from the procurement link,the production link and the marketing link.Then put forward the problems existing in the management of working capital and find out the corresponding reasons.Finally,putting forward suggestions for the problems,to improve the working capital management level of enterprises by strengthening the supply chain management.The development of Jointown’s general agency and general sales business has promoted the construction of the supply chain service system,and it realizes the integrated management of the supply chain by building the FBBC e-commerce platform and constructing the logistics information system.At the same time,the company accelerated its layout in the pharmaceutical industry sector to improve the industrial chain of the traditional Chinese medicine.However,it can be seen from the current management of working capital of Jointown that the company has not applied supply chain management to working capital management,and there is still great pressure on capital turnover.There are problems such as excessive occupation of supplier funds and poor communication of channel information in the procurement process of Jointown.Other receivables in the production process account for a large proportion,especially the sales rebates from upstream suppliers and deposits from downstream hospital customers.In the marketing process,it also fell into the dilemma of receivables collection management.The reason is that Jointown still lacks in supply chain management,resulting in its low level of working capital management.It does not pay enough attention to the strategic cooperation with suppliers,and does not grasp the synergistic development relationship with suppliers.The financing channels are relatively single,which brings greater pressure on capital turnover.Weak management of downstream customers and loose credit policies make it difficult to recover accounts receivable.The advancement of the information system is relatively slow,and a perfect sharing mechanism has not yet been established.For the problems in the working capital management of Jointown,it can optimize from the following aspects.First,strengthen the awareness of long-term development strategy,establish strategic alliances with suppliers,form complementary advantages,and give full play to the advantages of supply chain financing to achieve a win-win situation.Second,choose a reasonable procurement mode and inventory management mode to increase the stability of the supply chain,ensure the dynamic balance of inventory to reduce the cost of procurement.Third,strengthen the construction of marketing channels and make full use of online platforms to improve the utilization rate of marketing channel funds.At the same time,improve the customer information management system to strictly control the return of funds.Finally,further improve the construction of the information sharing platform and consolidate the professional knowledge of financial personnel to improve the quality of information transmission.These suggestions can help enterprises optimize the structure of the supply chain,achieve the goal of rationalizing and scientific management of working capital,and then improve the level of working capital management.At the same time,it can also play a certain reference role for the entire pharmaceutical circulation industry to improve working capital management.