Supply Chain Finance And Business Model Innovation Of Traditional Manufacturing Enterprises

At present,Chinese traditional manufacturing industry is in a low level of free development stage of resource consuming and extensive.Manufacturing enterprises have derived a series of practical problems,such as lack of innovation,core technology,product competitiveness and so on.The original business model is not enough to cope with the strong impact of domestic and foreign markets.Since Supply-side reform was put forward in 2015,Chinese traditional manufacturing enterprises have entered a new stage of deepening transformation and upgrading.In the past,the business model innovation of enterprises has generally focused on individual enterprises themselves.In 2019,the NPC and CPPCC first proposed to promote high-quality economic development based on the entire industrial chain.In recent years,the development of financial science and technology provides another important path for enterprises to practice the strategy of integration of industry and finance and promote the innovation of new business model.Supply chain finance relies on financial science and technology,which is based on the whole supply chain,has become a new product of the capital market to realize the combination of industry and finance.Based on the above background of Chinese manufacturing industry,combined with the characteristics of traditional manufacturing enterprises,and on the basis of studying the relevant literature of business model and supply chain finance,this paper studies the driving relationship between supply chain finance and business model innovation of traditional manufacturing enterprises under the industrial attribute from the perspective of the strategy of combining industry and finance,focusing on the dynamic factors and function routs used by traditional manufacturing enterprises to achieve business model innovation.On this basis,this paper takes Fasten’s acquisition of Moshan factoring as a case study,describes the background of business model innovation of Fasten in detail,comparative analysis of business model canvas before and after M&A,and deeply explores the influence of supply chain finance of Moshan factoring on the elements and the relationship between elements of business model of Fasten,and further demonstrate the motivation and path of supply chain finance driven business model innovation.Based on normative research and case analysis,this paper concludes that in the context of increasingly fierce competition,due to the needs of industry finance integration strategy,supply chain system cooperation and financial technology innovation,in order to improve the internal and external environment of enterprises and improve the overall value of the supply chain,traditional manufacturing enterprises in China can achieve business model innovation with the help of supply chain finance.The two main paths of its function are to optimize the static components and to reconstruct the dynamic value innovation process.At the same time,this paper points out that the supply chain financial risk event have a devastating impact on the supply chain financial service platform and the parent company carrying out the supply chain financial business,and puts forward some suggestions from the two levels of enterprises and government.This paper suggests that enterprises should mitigate the risk factors such as information asymmetry by means of scientific and technological means,and establish a complete risk handling mechanism to reduce risk losses,and the government should formulate relevant regulatory policies to reduce the probability of risk occurrence.