China supply chain development and innovation
Author in 2008, the global B2B supply chain development and trend analysis, can be broadly divided into the following 6 keys: in many ways integrated application, B2B and supply chain outsourcing, supply chain master data product information management, synchronization and data quality management, global supply chain visibility, physical and financial supply chain integration, This is the brand new B2B China Trade Portal with its powerful China.
In typical events of 2013, logistics information platform in the original GT Nexus merged with TradeCard supply chain finance service provider mergers and acquisitions, confirms the global integration of the physical and financial supply chains. Today, in 2015, supply chain finance in China to a new stage of development. Can give a simple description of the core concepts of symmetric information based on Internet, from the original simple B2B business to business integration with the financial double-stranded B2B2Bank, Bank represents a generalized form, containing banks financial institutions.
1. the evolution of supply chain finance itself, the future is to supply chain data that financial
Traditional traditional supply chain finance supply chain data financial credit based on the fixed assets current assets and sources of comprehensive strength of self-liquidating debt credit repayment mortgage asset collateral risk control of assets data
Basis of financial products including, credit based on the source of repayment and risk control. Traditional credit under the physical fixed assets or to trade financial documents. Traditional credit supply chain finance is based on liquid assets (advance payment, inventory, and receivables).
Supply chain finance sources of repayment is self-liquidating trade finance, enterprise sales revenue or the uncertain future of the trade financing business as a direct source of repayment of the cash flow.
In terms of risk control, the traditional supply chain finance to follow the traditional way of pledge, therefore need to develop goods, and so on. But since the first source of repayment is self-liquidating in nature, and pledge of liquid assets more difficult to control and dispose of, resulting in a supply chain finance to the essence of a pure credit credit development, that is, financial supply chain data. Financial institutions need to be more dependent on data about enterprise's operation and management, and under pledge mode, these are financial institutions not willing to spend the time or the information more difficult to understand.
2. the supply chain finance in China and a major force behind the three major driving forces
Commercial banks continued to be the main supply chain finance, three major driving force Internet financial, supply chain, industrial upgrading and integration of data. The three major driving force represented a new form, enterprise growth and technology.
Commercial banks: as global supply chain finance services for Standard Chartered and Deutsche Bank are active in this region, as in China, the commercial banks is still the main supply chain finance services. Because the use of supply chain services to SME, is the quality of commercial banks ' development path, although with different models and products, all major commercial banks are to launch supply chain finance products, as the representative of ping an Bank innovation Commercial Bank introduced further embody the Christmas Orange e-net of financial supply chain data platform.
Internet banking: think P2P Internet financial vying for the representatives of banks, such as supply chain, financial markets, current situation is because of P2P (P2B) for the capital costs of supply chain services to vulnerable, resulting in P2P (P2B) suitable for subdivision or subdivision level of the supply chain markets. But the Internet financial impact on the financial institutions and modes of thinking, supply chain finance to more online data (that is, financial supply chain data) direction. So, in a sense, supply chain finance B2B Internet finance.
Industrial upgrading and integration: the industrial upgrading innovation research and development and finding new value in the supply chain. Supply chain finance as the driving force to promote lateral vertical integration of upstream and downstream industries.
Supply chain data: traditional credit using financial statement data of static as the main assessment basis, see figure below the figure reflects a typical credit risk scoring model's predictive power, bent more, or linear stochastic models deviate from more that score for the stronger the predictive ability of business failure. When including financial data, prediction ability of credit scoring the most, in the absence of financial data, but including trade data case, rating forecast and optimal model is basically the same.
Typically lags financial statement data, can not reflect real business and out of financial statement data of upstream and downstream trade background cannot predict and describe the enterprise's future performance. Supply chain faster frequency data based on near-real time enterprises based on trade data (first data) and upstream and downstream supply chain data to reflect real trade (secondary data) for cross-matching, industry trend data (third data) as a reference, can clearly increase in the background the authenticity and real time enterprises predictive judgment.
3. supply chain finance practices, problems and prospects
Under these driving forces, supply chain finance, China is entering the fast lane, we see the ping an Bank, Bank of Nanjing as a representative of commercial bank and Shanghai Li to develop financing products such as pure data, represented by the Internet innovations for industrial upgrading Haier actively promote the construction of supply chain finance system.
We see in addition to the financial system with national organization's total support system of trans-regional service groups, Internet tools and surface safety check efficiency and more minor issues, the main problem is (here) three points:
1) core enterprise participation: core enterprises often lack the willingness to participate in the supply chain in the past, on the one hand more and more core enterprises understand that help supply chain partners are also helping yourself. Active construction's competitiveness in the supply chain and one of the core competencies. Aberdeen Group research actively adopting supply chain leading enterprises an average of 11 days of financial instruments accounts receivable aging advantage, 13.6 days account payable payment advantage 2.86% advantage of supply chain trade finance. All businesses understand, these are huge profits. Supply chain finance on the one hand to more open model, this article does not discuss.
2) willing to participate in but do not have: while many enterprises have established e-commerce supply chain management system, but the enterprise supply chain data management and data quality is still not so perfect. For example in the marketing chain, many brands only dealer to order data is hard to obtain a dealer sales and inventory data (as sales analysis and demand-driven), let alone in a multilevel marketing system. Our advice is the same, the supply chain finance as push factors, supply chain data can benefit from.
3) further demand of ecological environment construction: supply chain finance is an advanced stage of development of supply chain management, and supply chain data financial supply chain finance is the advanced stage of development, the need for Division of joint cooperation.
International supply chain finance eco is apparent in several features: 1. a large number of data play an important role in the supply chain platform. 2. in addition to banks, has obvious financial services companies participation and traditional logistics provider transform into a supply chain finance providers. Original lack of supply chain data services company in China, especially the depth of demand data and forecasting technology. And these needs not only physical supply chain services and need to be combined with financial risks control model, based on the expert method, statistical method and comprehensive method of quantitative risk model of financial visualization.
China supply chain finance development needs further industrial division of labor and cooperation, supply chain data credit aims to further promote the physical supply chain and supply chain integration of financial, allows financial institutions to better understand the business, make business faster and more use of low-cost financial services. We firmly believe that under the joint efforts of all parties, supply chain finance, China will develop in the short term to new heights.
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