Management Of Working Capital Of Yunnan Baiyao

In the circumstance of economic globalization, enterprise external competitive environment has undergone major changes, enterprises want to adapt to this environment, strengthen the immunity of the market risk, we must change the management mode and the optimization of it. With the development of socialist economic system and the gradual establishment of the modern enterprise system of continuous improvement, more and more enterprises into the market, increasing market competition, China’s enterprises are increasingly aware of the importance of working capital management. Working capital is the blood of enterprise, is the main bottleneck to affect the future development of enterprises, related to the business enterprise of vital importance. Working capital management is still a weak link in Chinese enterprises. How to prevent the operation of working capital crisis? How to improve the performance of working capital management has been the focus of academia, business circles study. The traditional working capital management theory and methods have many defects, has been unable to meet the modern enterprise management needs, enterprises need to assimilation and application of modern working capital management theory and methods as soon as possible according to their own situation, who absorb and use the fast, he will get competitive initiative, gain market dominance. So, we’re working capital management practice, it is necessary to guide to the value chain theory, constantly enhance the level of working capital management, participate in market competition to better advantage.In this paper, through theoretical review, analysis of the current situation, management performance evaluation, proposes the research thinking optimization suggestion. This paper first expounded the research background, purpose and significance, introduces the general situation of Yunnan Baiyao group, research content and framework, reviews the research status of working capital. From the working capital, working capital management connotation, the connotation of the working capital management three concepts, working capital management research of the development of the theory of paper. I had analyzed the biological medicine industry characteristics and working capital current situation of Yunnan Baiyao Combined with the three stages of working capital management theory development, evaluation of the working capital management of Yunnan Baiyao management performance, summarizes its features and shortcomings. I use value chain management concept as a guide, proposing some the value chain orientation of working capital management advice.Based on the Yunnan Baiyao in2007to2011the working capital management on the basis of analysis of the status quo, working capital and working capital management, summarizes its management characteristics, points out the deficiency, propose optimization suggestions based on the value chain, the purpose is to enable enterprises operating cash flow smoothly, improve enterprise management level, to achieve the maximization of enterprise value, the better to participate in market competition, also hope to get the reference and promotion in similar enterprises.