Research On Operating Capital Management Of Qilu Pharmaceutical Industry From The Perspective Of Business Process

Working capital is known as the "blood flow of enterprises".It is the foundation of enterprise operation and the source and motive force of enterprise further development.The fast blood flow speed of the enterprise makes the enterprise run faster;on the contrary,the development of the company will be affected by the poor operation of funds.Especially in the post-financial era,strengthening the management of working capital and improving the liquidity of working capital have become the primary choice for enterprises to avoid downside risks.It is of practical significance to explore the management of working capital against the background of weak external demand and slow domestic economic growth.However,at present,the research on working capital still remains in the perspective of a single factor and can not be integrated with the actual business processes of enterprises.On this basis,the conclusion of working capital management is that one-sided can not represent the real working capital status of the whole enterprise.This paper studies working capital from the perspective of business process,so as to overcome the drawbacks of previous conclusions only through a number of single indicators,and combined with Qilu Pharmaceutical's own unique business process to study working capital.The main content of this paper is to take Qilu Pharmaceutical Company as a case to study the working capital of the enterprise by using the combination of factor perspective and business process perspective.Firstly,under the guidance of working capital theory and business process theory,the financial data of Qilu Pharmaceutical Company from 2013 to 2017 and the working capital turnover period of three major processes divided by process are mutually supportive.Firstly,it is found that the main problems of Qilu Pharmaceutical in the procurement process are insufficient use of accounts payable and notes payable and insufficient relationship with suppliers.Second,the backward production mode and the dead angle of production line management and control in the production process.Thirdly,the problems of single marketing mode and insufficient product innovation in marketing process.Secondly,according to the analysis of accounting elements andthe division of business processes,the reasons for the problems in the management of working capital are that the awareness of working capital management is not strong,business process management is neglected,management system and business credit policy are not properly formulated.Finally,according to the above problems and reasons analysis,combined with the outstanding cases of leading enterprises in the same industry,it is concluded that: first,the procurement process should make full use of commercial credit and identify long-term suppliers.Secondly,the production process should establish the production mode of "need + precision + production" and improve the management and control ability of production line.Third,the marketing process should establish new Internet marketing channels and cooperate with CRO company to improve product innovation.Therefore,enterprises should strengthen the management of working capital combined with the unique business process of pharmaceutical enterprises,emphasizing the combination of "business + finance" and using a new evaluation index of working capital in order to find out the existing problems of Qilu pharmaceutical operating capital management and optimize the management of working capital from the perspective of business process.