The Research On Supply Chain Finance In Manufacturing

Financing constraints is a problem that manufacturing companies have to face all the time.Besides,when the competition among enterprises is increasingly reflected between supply chains rather than between individuals,large companies also have to face the trouble of supply chain crisis.At this time,the use of supply chain finance to help node small and medium-sized enterprises,including themselves,ease the financing constraints,meanwhile strengthening their supply chain management capabilities,improving the overall competitiveness of the supply chain,has become an important direction for many enterprises to explore.Supply chain finance is being reinvigorated under the promotion of financial institutions,manufacturing companies,governments,and other forces.but problems such as supply chain finance scams have also emerged one after another,and doubts have gradually increased.The theoretical research of supply chain finance is still lagging the application practice,and most of them are from the perspective of third parties such as financial institutions.It is difficult to provide timely and effective guidance for the development of manufacturing supply chain finance.So it is very necessary to research on the typical practice of supply chain finance in manufacturing in time,to understand and clarify the general functions and schemes of manufacturing supply chain finance,so as to promote the standard and healthy development of supply chain finance.At the same time,in the face of emerging fintech and financial innovation,to think about the improvement and development of supply chain finance in manufacturing in the future is also necessary.Based on the above background,this dissertation takes manufacturing core companies as the starting point and endpoint of research.Based on theories of information asymmetry and structural financing,use the methods of case study and qualitative analysis to study supply chain finance in manufacturing.Through the case analysis of Haier’s supply chain finance,the general project and functions of supply chain finance in manufacturing are specifically explained.Besides,through qualitative analysis,the advantages and development foundations of supply chain finance in manufacturing are summarized,the shortcomings in Haier’s supply chain finance are combed out,and suggestions for improvement based on the blockchain are put forward.The research process of this thesis is divided into three stages.First,at the theoretical level,systematically comb out relevant research on supply chain finance,comparatively analyze the advantages,characteristics,and development foundations of supply chain finance,and think that supply chain finance is currently facing a rare development environment and opportunity.The supply chain finance model suitable for the manufacturing is the core enterprise-led model.Then,take Haier’s current supply chain finance as a case study to carry out the specific analysis.Through an in-depth analysis of Haier’s supply chain finance operation project,implementation motivation,effectiveness,and deficiencies,it is concluded that Haier has advanced heavily supply chain finance business driven by these reasons: promoting the platform strategy,reducing operating risks,and finding new business;the implementation of supply chain finance has not only enables Haier to obtain benefits,which including optimizing accounting periods and cash flows,promoting performance growth,etc.,but also bring benefits to node companies,which including convenient and fast low-cost funds.And meanwhile,close cooperation with each other.Achieve a win-win situation for multiple parties.The combination of these motivations and effects is also the function of supply chain finance in manufacturing;the current deficiencies that need to be improved mainly include the use of fintech need to be strengthened,the coverage of financing services is still limited,the core corporate risk is difficult to disperse,and the business platform has not been unified.Finally,given these shortcomings,put forward suggestions for improvement based on the blockchain.Design an upgrading "1’+ N" scheme for supply chain finance through exploring the improvement path based on the blockchain.This dissertation,from the perspective of manufacturing core companies,through theoretical analysis and case study,aims to clarify the advantages,features,and functions of current supply chain finance in manufacturing.Analyze and summarize the experience and deficiencies in Haier’s supply chain finance operations.Besides,explores the use of blockchain to improve and upgrade supply chain finance schemes.Hope to provide some reference and guidance for the current and future supply chain finance in practical application and promotion in manufacturing,to help the development of manufacturing supply chain finance to be standard,healthy and sustainable.