Research On Supply Chain Financial Of State-owned Aviation Manufacturing Enterprises

As a sort of new model,supply chain finance is the integration of core enterprises in the supply chain and small and medium-sized enterprises upstream and downstream as a whole.It can be said that banks provide financial services to the whole supply chain.Its emergence not only alleviates the financing difficulties of small and medium-sized node enterprises in the supply chain,but also promotes the development of core enterprises in the supply chain,thus enhancing the competitiveness of the whole supply chain.It is undeniable that the theory and practice of supply chain finance in foreign countries have matured.At present,most domestic research on supply chain Finance takes financial institutions as an example,or explore the mode of supply chain Financing and related risk control from the perspective of commercial financial institutions.There are few studies on supply chain Finance from the perspective of core enterprises.Under the background of the system,system and conditions of state-owned enterprises in China,supply chain financial services are still in its infancy in state-owned enterprises in China.Especially in the large state-owned manufacturing industry,quantitative research on supply chain financial services and risk control is relatively scarce for the time being.Company A is a large state-owned aviation manufacturing enterprise affiliated to the Aviation Industry Corporation of China,Ltd.,whose products boast a long production cycle and high value.Customers allocate funds to Company A in a phased manner according to the production schedule.At the same time,Company A shall also accept the final customer audit for the payment settlement of its upstream suppliers due to the provisions of the relevant system.Therefore,Company A settles the payment by paying the supplier according to the proportion of progress allocated by customers in accordance with the relevant requirements of customers and groups.In addition,all raw materials of Company A are inspected and tested from purchase to storage.The cycle of inspection and inspection hinges on the type of materials and inspection procedures,and the general cycle is longer.All these factors result in non-core enterprises in the supply chain,such as non-state-owned enterprises and small and medium-sized suppliers.If more orders of Company A are received,the payment for goods will not be available in time.In addition,the financing threshold for small and medium-sized enterprises of various financial institutions in society is generally high,resulting in difficulties in reproduction,which affects the on-time delivery of Company A's products.First of all,this paper introduces the meaning of core enterprise and its positive significance in the supply chain finance,expounds the relevant definition of supply chain finance,and gives a brief analysis of its different financing modes of supply chain finance as the basis of application study.Second,it introduces Company A's business types and internal and external environment.Through in-depth analysis of the Company's procurement organization mode and supplier control mode,the main reasons why the external small and medium-sized enterprise suppliers of non-state-owned enterprises could not deliver goods to Company A in time were sorted out from the perspective of financial management: Long payment collection cycle;Production capital cannot be invested in time;Financial management is insufficient to support the supply chain,etc.Finally,in view of the particularity of Company A's product and process management and the problems exposed in its supply chain management,this paper formulated the supply chain financial management plan with Company A as the core enterprise,and elaborated its specific implementation approaches and safeguard measures.At the same time,the practice of the program is summarized and compared in order to demonstrate the effectiveness of the implementation of the program,and the focus of the program in practice is clarified.It is expected that this study can provide effective ideas and ways for efficient supply chain management of Company A,promote timely delivery of products by external small and medium-sized enterprises and enhance the competitiveness of core enterprises of Company A.At the same time,it can provide some reference for the supply chain management of the same industry.