Research on the Operational Efficiency of Listed Pharmaceutical Logistics Companies in China Based on DEA-BCC Model and Malmquist Index

Objective: To analyse the operational efficiency of listed pharmaceutical logistics companies in China and its changes from 2011–2021, and to provide a basis for promoting the efficient operation of pharmaceutical logistics companies as a whole. Method: The input-output data of 17 listed pharmaceutical logistics enterprises were selected for the study. The DEA-BCC model of data envelopment analysis and the Malmquist index model were used to measure operational efficiency, and the reasons for the differentiated development of each enterprise were analysed through static and dynamic analysis. Result: The changes in the number of effective enterprises in listed pharmaceutical logistics enterprises' technical efficiency (TE = 1) and scale efficiency (SE = 1) are basically similar, showing an upward and then downward trend; from the perspective of the efficiency range, the operational efficiency of Chinese listed pharmaceutical logistics enterprises all range from 0.7 to 1; the Malmquist index and the technological progress index show a wave-like development in parallel, fluctuating above and below 1, with a minimum of 0.887 and a maximum of 1.136. Conclusion: During the study period, the overall efficiency of listed pharmaceutical logistics companies showed a fluctuating upward trend; about more than 50% of the companies' operational efficiency was at a moderate or mildly DEA ineffective level; scale efficiency became a key factor limiting operational efficiency; and technological progress was the main reason why the Malmquist Index maintained a positive growth.