Research On Synergies Of Supply Chain Financing Based On The E-commerce Enterprises

With the development of electronic commerce and financing requirements of small and medium-sized enterprises, the financial system of supply chain has been built by our country’s electronic commerce platform under the circumstance of the Internet era. During the operation of the supply chain, the electronic commerce companies organize each major participant to distribute the capital rationally with the support of information and management technology, thus it forms a set of systematic and standardized auto-system, from process of the loan approval to the money back.On the one hand, this mode of financing can effectively solve the financing difficulties of small and medium-sized enterprises, on the other hand it can improve the performance of supply chain and play a synergistic effect in the supply chain system. The operation of the financial system of the electronic commerce supply chain involves various major participants and the cooperative relationship among different industries. And the focus of this thesis is to investigate how to use the information flow, logistics, cash flows, business flows and other resources of the platforms to promote the coordinated development of the participants and industries.This study analyses the related concept and definition of supply chain finance(SCF) and synergy, as well as the major participants and organizational structure of the supply chain finance in the electronic commerce mode. Based on the analysis of the industry background, this study expounds on how do the electric business enterprise exert the supply chain finance’s competitiveness through six factors of demand conditions, the factors of production, related and supporting industries,enterprise strategy,enterprise structure and competitors, government coordination andmarket opportunity. From the perspective of the practical operation,this study investigates the flow charts of different forms of financing mode, including purchase-order financing, accounts receivable financing, entrusted loans financing and warehouse receipt pledged financing according to different major participators in the financial system of the electronic commerce supply chain. With the combination of the features of operation mode, the author finds that electronic commerce supply chain finance has achieved the synergistic function—it has reached the scale economy,the returns to scale, and the effect of effectively reducing the credit, from the these three aspects of management synergy, financial synergy and synergy management.Based on the theories of supply chain finance system and its synergistic effect,this study exams the performance of the synergy with the case of Jingdong’s supply chain. With the descriptive statistics and the linear correlation analysis of the variable,the author validates whether the dependent variables six representatives of Jingdong’s performance levels have a relation with the independent variables financing scale and cost. Finally, after the analysis of the factors which influence the supply chain finance to play a synergistic effect.This study propounds three rational suggestions from the perspective of the government: improve the financial supervision mechanism, deepen the reform of financial system and create benign competition environment; and from the perspective of the enterprise, the author falls into the rational thinking of strengthening the incentive mechanism of supply chain enterprise, enhancing the trust mechanism among the participators in the supply chain finance and establishing impeccable information sharing mechanism.