Research On Cash Flow Management Of HA Pharmaceutical Company

In recent years,as the sales growth in China's medicine circulation market has gradually declined,the industry entered the era of meager profit,and the cash flow is facing greater pressure.Affected by the medical reform policy,the payment period of downstream customers is prolonged,while the upstream procurement requires a large amount of capital for operation,and there is a large time difference between accounts receivable and accounts payable.Medicine circulation enterprises play a role of "capital loaning",with increased financing demand and serious operation on borrowings,and a scientific management of cash flow is extremely urgent.Therefore,how to carry out effective cash flow management is an important issue that HA pharmaceutical company in the medicine circulation industry must take into consideration.Based on the research of cash flow at home and abroad,combined with the internal and external environment of HA pharmaceutical company and its own operating characteristics,the current situation of flow direction,process,flow rate and quantity in the cash flow management of HA pharmaceutical company are fully analyzed,and the problems in the cash flow management are pointed out.In other words,the normal operation of cash flow is affected by the too rapid growth of distribution business,unreasonable project investment planning,loose budget management,weak control of key points of revenue and expenditure links and unreasonable structure of cash flow,increasing the risk of capital management.Thus,in this thesis,the general objective and specific goals of cash flow management are defined.Based on learning from the theories and methods of cash flow management at home and abroad,the ideas for optimizing cash flow management are put forward: optimization of management of flow direction is conducted from a strategic perspective,the safety of capital chain for distribution business expansion is ensured,and the scientific investment project planning is conducted to lead a correct cash flow.The process of cash flow management ensures the realization of the goal by implementing the cash budget dynamic management mode,constructing the internal control matrix for the two links of procurement and sales,and formulating detailed rules for the assessment of cash deposit and withdrawal positions.Accounts receivable,inventory and accounts payable management are analyzed in order to overall improve the flow rate of cash flow from these three aspects.The quality management of cash flow is optimized by calculating the optimal cash holdings,choosing flexible financing methods and improving the ability to respond to policy changes.In this thesis,the optimization measures proposed based on the actual management needs of HA pharmaceutical company can promote the cash flow of HA pharmaceutical company to function well,improve its core competitiveness and enhance its ability to successfully respond to policies and market fluctuations to a certain extent.