Research On Supply Chain Financing Mode And Effect Of Heavy Truck Industry From The Perspective Of Core Enterprises

The development of the real economy is inseparable from the prosperity of small and medium-sized enterprises,and supply chain financing performed a significant function to small and medium-sized enterprises successfully solving the problem of ‘difficult and expensive financing’.Supply chain finance is led by core enterprises and it can improve the competitiveness of the entire supply chain.The heavy-duty truck industry is closely related to China’s economic situation,and in its supply chain,a large number of small and medium-sized enterprises are gathered with core enterprises as the main body,and the financing difficulties of these enterprises are also more common.In supply chain finance,core enterprises play the role of guarantee,coordination and driving,and by applying supply chain financing,they can strengthen the connection between small and medium-sized enterprises and improve the overall efficiency of enterprises.Therefore,it is of strong practical significance to study the supply chain financing model based on core enterprises.Based on the introduction of core enterprises and supply chain financing concepts,firstly,in this thesis,the author sorts out the current situation of supply chain financing in the heavy-duty truck industry,describes the development process,participants and main modes of supply chain financing in the industry,analyzes the business model of SINOTRUK supply chain financing,and analyzes the motivation of SINOTRUK’s participation in supply chain financing based on the theory of supply chain management and synergy.Secondly,in the case study,this thesis adopts the financial index analysis method,and uses the capital utilization rate,profitability,cash flow and other indicators to measure the financial synergy.It is found that after increasing supply chain investment,the financial synergy of enterprises begins to appear,the financing capacity and profitability have been significantly improved,and the cash flow of SINOTRUK in 2020 is at a relatively ideal level.The business synergy effect is measured by inventory turnover,inventory structure and other indicators,and the study suggests that the business synergy effect are mainly reflected in the inventory structure,and supply chain financing makes enterprises have stronger integration capabilities and improves their operational efficiency.Finally,the input-output model is constructed,and the DEA method is used to measure the impact of the supply chain financing model on enterprise value,and then provide suggestions for the implementation of SINOTRUK’s supply chain financing model.By making analysis and comparison,the problems existing in supply chain financing of SINOTRUK that can be found in this thesis are mainly manifested in: first,the lack of application of emerging technological means;second,the supply chain financing business model is relatively single;third,the scale of supply chain financing investment needs to be optimized.In view of the above problems,relevant suggestions are put forward: first,apply scientific and technological means to build an information sharing platform;second,develop a supply chain financing business model based on the information sharing platform of inventory model;third,increase the proportion of indirect participation in supply chain financing to provide financial facilities.