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

The good management of working capital is very important for an enterprise,and it is also a necessary support for the normal operation of the enterprise.At present,the domestic research on working capital management has developed from the single factor evaluation at the beginning to the channel analysis.The systematic analysis of capital management is inseparable from the analysis from the perspective of the supply chain,which has a huge impact on the future development of the enterprise.However,after analyzing and summarizing the literature on working capital management at home and abroad,this paper finds that most of the researches are concentrated in the fields of retail,home appliances,real estate,etc.,while there are few related researches on the capital-intensive industry of medicine circulation.Based on the analysis of the supply chain,as an intermediate pharmaceutical distribution enterprise,it plays the role of a "bridge" connecting upstream pharmaceutical enterprises with downstream pharmaceutical sales customers.Especially in recent years,with the implementation of the "two-invoice system",Ruikang Pharmaceutical has rapidly expanded through mergers and acquisitions,thereby increasing the company’s sales.However,from the current situation,the typical characteristics of pharmaceutical distribution companies are that they are capital-intensive,but Its profit and capital turnover are not good,and it is necessary to pay attention to how to effectively improve the management of working capital of enterprises.This paper takes the pharmaceutical distribution enterprise-Ruikang Pharmaceutical as an example,selects the performance data of working capital management from 2015 to 2020,selects the company with the same business business as a horizontal comparative analysis,and takes the average level of working capital management in the entire industry as a vertical Comparative analysis.Firstly,it introduces the status quo of the pharmaceutical circulation industry,corporate capital structure,working capital management performance and supply chain management status;secondly,based on the analysis from the perspective of supply chain,it conducts an in-depth analysis of the working capital management performance of Ruikang Pharmaceuticals in the three links of procurement,production and sales;The problems in the working capital management of Ruikang Pharmaceuticals from the perspective of supply chain;finally,according to the problems found in each link,the countermeasures and suggestions to improve the working capital management of Ruikang Pharmaceuticals are put forward.According to the selected case study analysis,it is found that even though the working capital management level of the procurement link of Ruikang Pharmaceutical has been improved,there are unreasonable procurement methods that lead to excessive procurement of raw materials,resulting in excessive use of suppliers’ funds;Excessive occupation of supplier funds by pharmaceuticals leads to reverse occupation of enterprise funds by suppliers,which makes it difficult to collect other receivables;there is a long inventory turnover cycle and a low accounts receivable turnover rate in the sales process;therefore,enterprises are currently facing An important issue of the company is how to strengthen the strategic cooperation with upstream suppliers,maintain a good relationship with downstream customers,and then better improve the working capital management level of the enterprise,and play a certain reference role for the development of private pharmaceutical distribution enterprises.