Analysis of Supply Chain Financial Financing Mode and Optimization Countermeasures

Analysis of financing mode and optimization countermeasures of supply chain finance

Supply chain finance is an innovation based on logistics finance, which extends financing from commodity sales stage to procurement and production stage. The following is an analysis of the financing mode and optimization countermeasures of supply chain finance. Welcome to read and browse.

first, the emergence and characteristics of supply chain finance

when studying the financing difficulties of small and medium-sized enterprises, we often pay the most attention to studying the financing difficulties. Surface? Reasons, for example, high bank threshold; The enterprise has nothing to mortgage; Enterprise's unsystematic risk is high; Enterprises do not have complete financial statements and so on, which are the reasons why small and medium-sized enterprises are excluded from the credit market. However, we often ignore the real reason, that is, after an enterprise applies to a bank for financing, the bank always evaluates the enterprise according to a standard and a model to see if it has repayment ability.

although some small and medium-sized enterprises have repayment ability, this repayment ability is often based on the real transaction background, and is not or is not expressed by the book financial information. Especially when these enterprises don't have valid fixed-value assets that can be mortgaged, banks refuse to provide financing for enterprises because they can't effectively identify enterprise information. Based on the objective requirement of solving the contradiction between enterprises and banks, supply chain finance came into being.

supply chain finance is an innovation based on logistics finance, which extends financing from commodity sales stage to procurement and production stage. Therefore, the supply chain financing model helps to alleviate the financing difficulties of small and medium-sized enterprises dealing with core enterprises to a certain extent.

are they used by big core enterprises now? Global foreign mining? And? Business outsourcing? Through good brand image and financial management efficiency, large enterprises have attracted a number of small and medium-sized enterprises whose main business is material procurement and product sales, forming a relatively safe and stable business ecological chain.

As the upstream and downstream of the core enterprises, the financing needs of these SMEs mainly come from the pressure of the core enterprises to transfer working capital: the core enterprises take advantage of their strong position and require raw material suppliers to pay for the goods first; For downstream dealers, it is also required to pay for the goods first. The more competitive and large-scale core enterprises are, the greater the pressure on the upstream and downstream, which brings huge financing needs to these small and medium-sized enterprises. In addition, due to the requirement of zero inventory, large enterprises transfer a considerable part of management costs and capital costs to upstream and downstream enterprises, which causes the upstream and downstream enterprises to have tight funds and difficult turnover, which also causes the financing needs of enterprises.

It can be seen that to solve the financing difficulties of these enterprises, we should not just look for the reasons in a single subject, but should start from the whole supply chain to find new ways for SMEs to finance. In 23, Shenzhen Development Bank took the lead in proposing? 1+N? The financing model of? 1+N? 1 refers to the core enterprises in the supply chain, usually large high-end enterprises, which constitute the bank credit risk management? Safe harbor? ; N refers to the supply chain member enterprises upstream and downstream of the core enterprise, that is, the credit of the core enterprise is introduced into the credit service upstream and downstream by using the associated network relationship of the supply chain industrial cluster, and wholesale marketing is carried out for the supply chain member enterprises.

In 25, Shenzhen Development Bank proposed? Supply chain finance? This brand product, the so-called? Supply chain finance? Based on the analysis of the internal transaction structure of the supply chain, it refers to providing closed credit support and other comprehensive financial services such as settlement and wealth management to different nodes of the supply chain by using the credit model of self-compensating trade financing and introducing new risk control variables such as core enterprises, logistics supervision companies and capital flow guidance tools.

In layman's terms, banks share the loan risk with the help of the credit of the core enterprises in the supply chain that have cooperative relations with small and medium-sized enterprises or the business contracts between them, and at the same time, rely on the participation of third-party logistics enterprises to help banks control the loan destination of small and medium-sized enterprises, ensure the safety of loan funds, and effectively control the loan risk of banks. Thus, while solving the financing problem of small and medium-sized enterprises, through such financial support, banks have strengthened their cooperative relationship with enterprises, and have corresponding stable corporate customers, thus reducing operational risks and improving operational efficiency.

According to Shenzhen Development Bank, by the end of December 27, there were nearly 3, existing trade financing customers of Shenzhen Development Bank, with a year-on-year increase of 52.2%. The balance of off-balance-sheet and off-balance-sheet credit of trade finance was nearly 8 billion yuan, up 38.92% year-on-year, accounting for 4.66 percentage points higher than that at the beginning of the year. The non-performing rate of trade financing has been well controlled below 1%, and there is no actual loss so far. By the end of September, 28, the number of trade financing customers and the credit balance on and off the balance sheet of the whole bank increased by more than 3% compared with the beginning of the year.

is supply chain finance actually integrated? Production? For? Sell? All the resources in the chain provide comprehensive financial services for a single enterprise in the supply chain to multiple enterprises in the upstream and downstream chain, so as to promote the core enterprises in the supply chain and their upstream and downstream supporting enterprises? Production? For? Sell? The chain is stable and smooth.

compared with traditional bank financing, supply chain finance has obvious characteristics: first, the credit access evaluation of supply chain members is not isolated. Banks should not only evaluate the financial strength and industry status of core enterprises, but also investigate whether the links between enterprises in the whole supply chain are close enough. The evaluation of member financing access focuses on its importance to the whole supply chain and the transaction history with core enterprises. Secondly, the financing of members is strictly limited to the trade background between them and the core enterprises, and the misappropriation of funds is strictly controlled. In addition, supply chain financing also emphasizes the self-compensation of the source of credit repayment, that is, enterprises make trade through the support of bank funds, and the sales income of this transaction can pay off bank loans for themselves.

This financing mode can further reduce the cost, improve the efficiency and enhance the market competitiveness of core enterprises; It can solve the capital turnover problem of upstream and downstream small and medium-sized enterprises and improve their negotiating position; It can enable third-party logistics enterprises to win customer resources, expand service scope, and ultimately improve the service quality and efficiency of logistics enterprises. At the same time, it can also enable commercial banks to expand intermediary business income sources and stabilize settlement deposits. It can be seen that it maximizes the interests of all participants in the Quartet and forms a reputation chain. We call this phenomenon that small and medium-sized enterprises use the reputation chain derived from the supply chain to radiate and upgrade their credit, obtain financing convenience and reduce financing costs? Halo effect? .

second, supply chain finance business model

traditional financing methods seldom use liquid assets as credit support, but from the perspective of supply chain enterprise clusters, the transaction process is the integration of information flow, logistics and capital flow, and this integration is relatively closed, which provides conditions for bank monitoring. The financing demand of an enterprise occurs in three stages: the purchasing stage, the production stage and the sales stage, and the corresponding three subjects occupied by the working capital of the enterprise are prepayments, inventories and accounts receivable. Using these three assets as the credit support of enterprise loans, three basic supply chain financing solutions can be formed: prepayment financing, inventory financing and accounts receivable financing.

(I) Prepayment Financing

Because of the long-term and good cooperative relationship between the financing enterprise and the upstream powerful enterprise, the financing enterprise, the upstream powerful enterprise and the bank can sign an agreement in advance to set the financing enterprise as the discount agent for the upstream powerful enterprise to endorse, and then the financing enterprise applies to the bank for discount with the commercial acceptance bill and the guarantee letter. After the discount, the bank will directly transfer the discount money (that is, the money for the financing enterprise to buy raw materials from the upstream powerful enterprise) to the designated account of the upstream powerful enterprise. This is the prepayment financing mode.

prepayment financing can be understood as? Financing of future inventory? From the perspective of risk control, the guarantee basis of advance payment financing is the customer's right to take delivery of goods to suppliers under the advance payment, or the in-transit inventory and inventory inventory formed through delivery and transportation after the realization of the right to take delivery.

(II) Accounts receivable financing

The accounts receivable financing model based on supply chain finance refers to the way that SMEs apply for short-term loans with a maturity of no more than accounts receivable from commercial banks with the accounts receivable vouchers of core large enterprises in the supply chain as collateral, and banks provide financing for SMEs in the upper reaches of the supply chain. To put it simply, it is the act of financing financial institutions with unexpired accounts receivable.

(3) inventory financing

when the upstream powerful enterprise is only willing to accept the silver ticket or the payment is not willing to be discounted by the downstream financing enterprise, the bank, the upstream powerful enterprise and the financing enterprise can sign an agreement, and the ticket will be delivered first. The bank directly pays the money for raw materials to the upstream strong enterprises, and the strong enterprises deliver the money to the designated place of the bank, which is supervised by the logistics supervision designated by the bank to form inventory pledge financing. When the financing enterprise receives the order, it pays the money to the bank to redeem the goods, and the bank instructs the warehousing supervision institution to release the goods to the financing enterprise, thus completing the production of this round.

for accounts receivable and inventory financing, the focus of repayment ability analysis is the cash flow of borrowers from accounts receivable and inventory, rather than analyzing the cash flow generated by operations. Banks pay more attention to the quality and value of accounts receivable and inventory, and the ability to realize collateral, rather than the information of income and balance sheet.

Third, the optimization of supply chain financing mode

In practice, supply chain finance has largely eliminated the `credit risk' of both parties: core enterprises often establish a screening mechanism for supply chain member enterprises, and supply chain members are also winners under the evaluation of management, finance and credit. Because the core enterprises have strict management over the members of the supply chain, both parties will maintain a relatively stable cooperative relationship after entering the supply chain. For small and medium-sized enterprises entering the supply chain system of large enterprises, qualification itself is a valuable intangible asset.

therefore, enterprises will maintain this relationship and avoid the influence of loan default and other things on their position in the supply chain. This kind of reputation reduces the moral hazard of small and medium-sized enterprises in trust. However, due to the weak ability of SMEs to resist market risks in supply chain financing, this inherent high-risk problem cannot be avoided. Therefore, only through innovative technology of risk management can we focus on solving this risk, optimize the financing mode of supply chain, and realize the security and efficiency of supply chain finance chain.

There are credit risk, technical risk and legal risk in supply chain financing mode, but the latter two are exogenous risks, which are difficult to control by themselves, so this paper mainly analyzes credit risk, that is, endogenous risk.

in view of the above problems and drawing lessons from information management technology, we can build a? Supply chain comprehensive information sharing platform? And realize the optimization of supply chain financing mode.

build this? Supply chain comprehensive information sharing platform? The main purpose is to solve the problem of information asymmetry, which is the main reason for credit risk. On this platform, all enterprises in the supply chain (if it wants to raise funds) can register on it, and there is an independent page, which records the specific situation of each transaction of the enterprise, and each transaction needs its upstream and downstream core enterprises to click to confirm, so as to ensure the authenticity of each transaction. For example, for enterprise A (supplier) and enterprise B (core enterprise), after supplying to enterprise B, enterprise A records the details of the transaction on its own web page, and then B clicks to confirm it. Because this involves enterprise B's own interests, it is impossible and unnecessary for enterprise B to help enterprise A cheat. This will allow the bank to evaluate and finance enterprise A after checking all the real records of its transactions. Because of the privacy of enterprise information, important information can only be seen by other enterprises and banks that are in this supply chain and have close ties with enterprises.

this? Supply chain comprehensive information sharing platform? The content can include the following information:

transaction information: the time, product, quantity and amount of each transaction of the enterprise and the upstream (downstream) enterprises of the transaction.

financial information: the three tables of an enterprise, balance sheet, income statement and cash flow statement, allow banks to analyze the solvency and cash flow discrepancy of the enterprise, and then judge the operating conditions of the enterprise.

tax information: the tax amount is the best indicator to reflect the sales volume. The higher the tax amount, the more optimistic the sales situation of the enterprise.

in addition to the above information, enterprises can add relevant information that is beneficial to financing, such as dividends, long-term development strategy of enterprises and so on.

The establishment of this information platform has several advantages: First, it reduces costs and improves efficiency. It takes a lot of manpower and expenses for banks to investigate the transaction background of each business, which can be greatly reduced by using the information platform, and because supply chain financing itself is self-compensating trade financing, follow? Borrow a sum, finish a bill, and pay back a sum? The principle that every transaction is recorded separately shortens the confirmation time, improves the efficiency and makes the whole supply chain more competitive.

second, on this platform, you can record your own inventory and production, so that all node enterprises can quickly grasp the inventory status, production plans and market demand forecasts of upstream and downstream nodes, so as to timely and accurately adjust their own business plans, and also enable enterprises in the reputation chain to contact with enterprises outside the chain while enjoying * * *, so that the marginal credibility can be continuously improved, thus forming a reputation? Multiplier effect? . Third, after seeing the information of the enterprise that needs financing, if the bank thinks that the enterprise is operating well, has high credibility and has a continuous real trade background with the core enterprises, it can carry out other businesses, such as factoring business, and provide financing for SMEs in more ways.

in addition, in order to encourage enterprises to improve their credit, a? Positive motivation? Mechanism, every time an enterprise repays on time, it can give certain incentives to the enterprise, such as the bonus system. The higher the score of the enterprise, the faster the enterprise repays, the better the credit, and the bank can give certain concessions in the future loan process, for example, lowering the price (that is, interest rate).

It can be seen that the establishment of an information platform shared by enterprises, banks and logistics companies will help reduce the risk of supply chain financing, improve the availability of loans for small and medium-sized enterprises, and reduce the possibility of enterprises losing good development opportunities because of the lack of financing funds;