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Datalization and informatization have widened the boundary between economy and finance, changed the management mode of business and finance, and spawned industrial finance. In the era of rapid changes in digital technology, the supply chain has ushered in unprecedented changes, and supply chain management is facing huge challenges. In the function of financial management, the operation of industrial finance has become an important part. With the help of technical means and based on real transactions, enterprises extend their business tentacles to all parties in the industry, and realize the effective circulation of credit in the trend of transaction flow, logistics, capital flow and information flow.
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In the future, based on the high frequency interaction and deep integration of digital technology and financial business, supply chain finance can enhance the insight into the supply chain through panoramic data and business models, find customer needs in time, and integrate financial services into all aspects of the supply chain business scene, or even become a basic factor of production to enable the supply chain and promote its further evolution and upgrading.
Four development stages of supply chain finance
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Germany’s “Industry 4.0”, the United States’ “Third Industrial Revolution”, and China’s “Manufacturing 2025″… In the global environment of digitalization, intelligence, and informatization, countries around the world have proposed a new generation of manufacturing concepts, driving traditional manufacturing to upgrade to intelligent manufacturing, so as to meet faster and more personalized demand response in the future market, and achieve lower manufacturing costs.
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At the same time, intelligent manufacturing also brings far-reaching challenges and impacts to supply chain management. It cuts the factory production originally managed according to the plan into smaller units, which can not only dynamically plan to stabilize production fluctuations, but also quickly adjust production capacity following the market response. In the evolution process of supply chain, supply chain finance has played an important role in promoting, which is called financial empowerment effect. In order to achieve the lowest inventory of raw materials and finished products and greatly improve the turnover efficiency of production, supply chain finance needs to be highly flexible and more intelligent.
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In the Opinions on Standardizing the Development of Supply Chain Finance to Support the Stable Circulation, Optimization and Upgrading of the Supply Chain Industry Chain jointly issued by eight ministries and commissions including the People’s Bank of China, the definition of supply chain finance was clarified: starting from the overall supply chain industry chain, using financial technology to integrate logistics, capital flow, information flow and other information, under the background of real transactions, Build a financial supply system and risk assessment system integrating the core enterprises and upstream and downstream enterprises in the supply chain, provide systematic financial solutions, quickly respond to the comprehensive needs of enterprises in the industrial chain such as settlement, financing and financial management, reduce the cost of enterprises and enhance the value of all parties in the industrial chain.
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With the constant changes in the policy orientation of financial enabling supply chain, financial demand and development strategy of subdivided industries, finance and supply chain have gradually entered the stage of deep integration and presented the characteristics of a new era. Its development can be roughly divided into four stages: from the traditional supply chain finance stage of “M+1+N” to the online, platform and intelligent 2.0, 3.0 and 4.0 stages.
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Supply chain finance 1.0 is a traditional centralized model, mainly in the form of “M+1+N”. “1” refers to the core large enterprises in the supply chain, and “M” and “N” are the suppliers and customers of the core large enterprises in the industrial supply chain. The bank takes the credit of core enterprises as support, provides financing services for upstream and downstream enterprises of core enterprises, and is based on real estate mortgage and credit rating at the technical level.
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Supply chain finance 2.0 is an online era. Connect the upstream and downstream of the supply chain and the ERP ports of each participant through electronic and other technical means. The bank and the supply chain participants cooperate to provide financing services. The main technical breakthrough lies in the Internet and movable property pledge.
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Supply chain finance 3.0 is characterized by platformization. Banks, supply chain participants and platform builders are deeply involved with Internet technology, such as building a cloud platform, and building a comprehensive large service platform through three-dimensional data risk control modeling of capital flow, information flow and logistics.
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Supply Chain Finance 4.0 has begun to move towards an intelligent era. Its business model tends to be decentralized, real-time, customized and small. Its products are mainly data pledge. With the help of the Internet of Things, artificial intelligence, big data, blockchain and other technologies, it has realized the whole process information integration and sharing of the supply chain and marketing chain, while improving service capabilities and efficiency.
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Although traditional supply chain finance has greatly promoted the flow of supply chain resources and improved the operation efficiency of the supply chain, with the rapid changes in the market and technology, it has become increasingly difficult to meet the requirements of the dynamic adjustment speed and efficiency of the supply chain ecosystem. In the future, digital supply chain finance, which is based on the high-frequency interaction and deep integration of digital technology and financial business, can enhance the insight into the internal supply chain, timely find customer needs, and integrate financial services into all aspects of the supply chain business scene through the supply chain panoramic data and business model, and even become a basic factor of production to enable the supply chain and promote its further evolution and upgrading.
Financial characteristics of supply chain under technology enabling
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With the development of Internet of Things, cloud computing, big data, artificial intelligence, blockchain and other technologies, the supply chain financial business activities show a development trend of highly integrating with financial technology related technologies, making financial activities based on supply chain operations increasingly efficient and intelligent. Technology enabled supply chain finance presents the following characteristics.
Integration.
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A single technology often involves only a single aspect improvement of a single node, with limited effect. The integration and application of cloud computing, big data, artificial intelligence, the Internet of Things, blockchain and other basic technologies, and the further combination of edge computing, AR/VR, image recognition and other universal technologies to form a comprehensive tool suite solution, play a role together.
Scenarios.
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No technology can play its role without specific use scenarios. The disassembly and demand interpretation of specific scenarios and processes will ultimately form customized technologies and business solutions for scenarios.
Synergy.
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As an integral part of supply chain management, supply chain finance can not seek the optimal solution independently from supply chain management. Technology application should consider all aspects of enterprise production and operation to seek the overall optimization.
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Based on the above characteristics, in the process of science and technology enabling supply chain finance, there are roughly several levels of progressive state. The specific content can be seen in supply chain finance: enabling technology to promote industrial intelligent change
Four Advantages of Supply Chain Finance
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The supply chain finance takes the information deposited in the supply chain as the core means of risk control, takes real trade as the basis, uses the self compensation of transactions to build a capital flow loop, and ultimately provides accurate financial support for the single financing demand in the supply chain. It can fully meet the financing needs of SMEs and has four advantages.
First, the interest is reasonable.
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As the risk level is low, the interest rate of supply chain financial products is generally about 10%, far lower than small loans and most types of supply chain financial products. At the same time, the term of the product can fully match the financing needs of enterprises, minimizing the interest actually paid by SMEs.
The second advantage is strict risk control.
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The lender can effectively assess the risk based on the transaction information, and the supply chain finance uses the accounts receivable or goods rights involved in the transaction itself as collateral, so the risk is more controllable.
Third, the amount is accurate.
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The loan amount of the supply chain financial products is subject to the capital demand generated by the actual transaction, ranging from tens of thousands to millions, which fully matches the actual demand of the enterprise.
Advantage 4: efficient approval.
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The review of supply chain financial enterprises focuses on transaction information rather than the overall credit evaluation of the enterprise, so the approval conditions are relatively flexible and the efficiency is greatly improved.
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These four advantages enable supply chain finance to be applied to a variety of scenarios. The main application scenarios of digital supply chain finance are no longer the traditional red sea of supply and marketing systems dominated by core enterprises. Instead, by building a supply chain business information and data sharing mechanism, it breaks the high dependence of financial business risk assessment on single dimension data, turns the risk control core to control the panoramic business data of the supply chain, and realizes that financial services, as a production factor, can control the entire production Comprehensive coverage of transactions and consumption, thus outlining a new “blue ocean”.
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