Study On The Application And Effectiveness Of The Supply Chain Finance Model Of China Resources Pharmaceuticals Under The "Two-Ticket" System

With the trend of mergers and acquisitions and integration of enterprises in the pharmaceutical industry,since 2017,China has begun to gradually carry out the "two-ticket system" reform in the pharmaceutical industry in various places,and in 2018 the two-ticket system reform is in full swing,the ultimate purpose of this change is to improve the overall effectiveness of the supply chain integration in the entire pharmaceutical field,and to create an environment for the future of the entire pharmaceutical industry.The ultimate goal of this change is to improve the overall efficiency of the supply chain integration in the pharmaceutical field and create an environment for the future favorable development of the entire pharmaceutical industry.However,after the implementation of the "two-ticket system",the pressure on the capital needs of distribution companies has been increasing due to the long payback period of downstream hospitals.Based on the further strengthening of the understanding of the core position of pharmaceutical distribution companies in the pharmaceutical supply chain financial services,as well as the rich and detailed import and export trade data of the upstream and downstream companies and their deeper understanding of the unique advantages of the pharmaceutical industry and other favorable conditions,the pharmaceutical supply chain financial services model as the main entry point,so that small and medium-sized pharmaceutical production and distribution companies The main entry point is the comprehensive pharmaceutical supply chain financial service model,which enables small and medium-sized pharmaceutical production and distribution companies to solve the various investment and financing difficulties faced by their upstream and downstream related SMEs more efficiently.By summarizing the recent research literature on supply chain finance of pharmaceutical distribution companies,this paper describes the main innovative financing models in the field of supply chain finance,and further elaborates the characteristics and advantages of the innovative supply chain finance models implemented by pharmaceutical distribution companies in the context of "two-ticket system".The case study of this paper mainly analyzes two innovative supply chain finance models,namely,the asset securitization model of supply chain finance and the Internet supply chain finance model,which are mainly carried out by China Resources Pharmaceuticals.On the basis of the implementation of the above-mentioned service business model and operation process,the main financial reasons for the successful development of CR Pharma,the effect of policy implementation,and the existence of problems are analyzed.Despite the important achievements in the field of developing supply chain financial services,China Resources Pharmaceutical Enterprise still faces certain challenges in the development process.Through the study of this event,we try to continue to optimize the supply chain financial investment services of pharmaceutical logistics companies.Some targeted comments are given at the enterprise level,regulatory level and policy level.The article is divided into:the first part introduces the historical background and meaning of the study,the research proposal and the innovation of the paper.The second part introduces the historical background of "two-ticket system" in pharmaceutical industry and its basic connotation of supply chain finance,and analyzes the development trend of supply chain finance mode in China.The third part describes the basic case of China Resources Pharmaceuticals’ supply chain financing.The next part introduces the supply chain finance business model of CR Pharma and its operation.The fourth part is to analyze how effective the case of supply chain finance implemented by CR Pharma in the context of two-ticket system.In the fifth part,from the experience of two models of supply chain finance of China Resources Pharmaceuticals,suggestions are made for the development of supply chain finance for pharmaceutical distribution enterprises in the industry under the "two-ticket system".The sixth part summarizes the conclusions of the whole article.