Research On The Risk Management Of Inventory Pledge Financing Of Logistics Enterprise Under The Unified Credit Mode

Small-and medium-sized enterprises(SMEs)have become an important force in China's economic development,but it is still difficult and expensive for them to finance.Since there is no immovable property as guaranteed mortgage,traditional financing modes cannot meet the financing needs of SMEs.As the subject of financing,SMEs own relatively low credit rating,and there is short of immovable property or third party which can provide security,but actually SMEs often have large inventories and financial difficulties can be effectively solved by inventory pledge financing.Currently there are three main types of inventory pledge financing mode.In comparison,unified credit mode can provide enterprises which own better credit conditions with greater and more convenient credit services,under this mode,logistics enterprises directly give loans to SMEs,simplifying loan procedures,but this mode also increases the risk of logistics enterprises' executing inventory pledge financing.Based on the characteristics of unified credit mode,this paper makes systemic analysis of business risk identification,assessment and control from the perspective of logistics enterprises.In the beginning,this paper describes the background and meaning of logistics enterprises inventor pledge financing business risk management in unified credit mode under the current environment.And then this paper makes literature review on inventory pledge financing mode development,risk and pledge rate research based on the research result at home and abroad,noting that there exist gaps in current research: there are many researches under supervision delegation mode but few under unified credit mode,there are many research from the perspective of bank but few form the perspective of logistics enterprises.Secondly,through the analysis on the related theories and business mode of inventory pledge financing business,this paper points out the fea tures of inventory pledge financing business,which greatly reduces transaction costs as well as the risk of bank financing but increases the risk faced by logistics enterprises when they enlarge the business scale and gain more profits.Thirdly,this paper combine previous research result with the risk management process and method mentioned earlier,choose logistics enterprises as research object,execute risk identification on inventory pledge financing business under the unified credit mode and establish risk evaluation indicator system.Next,this paper makes description on the analytic hierarchy process in previous articles about risk assessment,points out its advantages and limitations,introduces analytic network process based on analytic hierarchy process and describes the procedures of analytic network process.Then,this paper makes analysis on the interaction relationship among the indexes of risk assessment system according to the features of analytic network process and construct the network structural model of inventory pledge financing business.After that,this paper uses Super Decisions software to analyze the data to determine the weight of factors of inventory pledge financing business risk of logistics enterprises' under the unified credit mode.Finally,this paper introduces gray evaluation matrix on the basis of the risk assessment system constructed in the foregoing and the weighted value calculated by ANP in the forgoing,makes empirical analysis and assures the major risk and that the risk of this business is higher than average,and makes recommendations to risk management based on the evaluation results.This paper aims to help logistics enterprises to control the risk of inventory pledge financing business,reaches the balance between realizing income and decreasing risk,and improve SMEs' ability of raising loan.