A Case Study of Supply Chain Finance Model in Suning Shang Yun

A Case Study of Supply Chain Finance Model in Suning Shang Yun

For Suning Shangyun, it is an enterprise that integrated middlemen use their own network platform to sell all kinds of branded goods, use mall-style B2C e-commerce supply chain finance, mainly provide accounts receivable financing services for suppliers who settle in the mall, and make full use of customer resources, customer information, convenient customer service and experience accumulated by Internet retail to form Suning ecological chain, and serve customers at both upstream and downstream ends of the supply chain through Suning small loans. So, the following is a case study of Suning Shang Yun's supply chain finance model. Welcome to read and browse.

First, the traditional supply chain financial model and? Internet plus? Comparison of supply chain financial models

Traditional supply chain finance refers to providing credit support, settlement, wealth management and other financial services to small and medium-sized enterprises in the supply chain based on the analysis of business transactions between enterprises in the supply chain. In the service process, the risk is controlled through the relationship between credit enterprises and core enterprises and the inventory pledge of logistics supervision enterprises. In the Internet era, the traditional financial industry seeks the road of transformation and upgrading by combining Internet technology. The traditional supply chain finance model should also conform to the general trend of Internet finance and realize the transformation and upgrading of traditional supply chain finance by integrating the resource advantages of the Internet era. Their characteristics are different but related.

1. Characteristics of traditional supply chain finance:

1. 1 The credit rating of banks for credit granting enterprises (mainly small and medium-sized enterprises) mainly depends on the real business volume of enterprises and the core capital strength in the chain, rather than just emphasizing the financial status and guarantee methods of enterprises.

1.2 The credit funds are strictly limited to the purchase and sale transactions between the credit granting enterprises and the core enterprises, and it is forbidden to use the funds for other purposes, which greatly reduces the credit risk. At the same time, the bank takes the movable property or rights generated in the purchase and sale activities of the supply chain as the guarantee.

2.？ Internet plus? Characteristics of supply chain finance:

1. 1 Supply chain has the advantages of fast transportation, fast transaction, fast payment, fast financing and fast logistics, and it has obvious information characteristics.

1.2 the speed of transportation, transaction, payment, financing and logistics in the supply chain is fast, and the information characteristics of the supply chain are obvious.

Second,? Internet plus? Analysis of three modes of supply chain finance and the corresponding mode of Suning cloud merchants

? Internet plus? Supply chain finance can be summarized into three modes:

1. Online finance of traditional offline supply chain of commercial banks

Most banks provide financial support to SMEs according to the transaction records of core enterprises and SMEs. Through supply chain financial services, banks use bank credit to enhance commercial credit and promote the effective development of corporate financing and commercial transactions.

2. The financial model of e-commerce supply chain based on Internet platform.

Third-party trading platforms usually attract industry chain participants with information service function, and transform e-commerce platforms with information service as the starting point. When the transaction volume of e-commerce platform increases and the whole closed-loop transaction is completed through services such as logistics and warehousing, the third-party trading platform essentially has relevant data such as transactions, logistics and cash flow in the upstream and downstream of the industrial chain, and can also meet the risk assessment needs of supply chain financing projects by docking capital sources.

3. The combination of supply chain finance and e-commerce platform of commercial banks.

Under the core enterprise model, a core enterprise in the industrial chain has strong industrial chain control ability and high bank credit line. On this premise, the core enterprises can master the detailed information of information flow, logistics and capital flow of upstream suppliers and downstream distributors, and can also understand the operating conditions of upstream and downstream enterprises through long-term commercial activities. Such core enterprises can provide financing services for upstream and downstream enterprises with their own credit lines as guarantees, and improve the operational efficiency of the entire industrial chain.

For Suning Shangyun, it is an enterprise that integrated middlemen use their own network platform to sell all kinds of branded goods, use mall-style B2C e-commerce supply chain finance, mainly provide accounts receivable financing services for suppliers who settle in the mall, and make full use of customer resources, customer information, convenient customer service and experience accumulated by Internet retail to form Suning ecological chain, and serve customers at both upstream and downstream ends of the supply chain through Suning small loans.

Thirdly, the development course and current situation analysis of Suning's supply chain finance.

First of all, look at the most basic data: in the past three years, the proportion of online business in Suning was 13.2% in 2065, 438+07.7% in 2065 and 438+04 17.7% in 2065. It can be found that Suning's online business developed rapidly from 20 12 to 20 13, but it developed slowly from 20 13 to 20 14. This is because Suning's supply chain financial model was implemented from 20 12, and achieved good results, but the new progress was at the end of 20 14, with a slight delay.

20 12 February, Suning launched Suning Small Loan. This is an e-commerce financial business for small and medium-sized enterprises. All Suning brokers and consignment suppliers can use Suning.cn's accounts receivable as collateral for financing loans, and the maximum single financing amount of this business can reach 654.38+million. July 20 14, Suning crowdsourcing came late. For enterprises participating in crowdsourcing platform, Suning will promote media resources and online and offline drainage resources. Where's Yi? Small loan companies are open to platform enterprises, and the first batch of investment is 654.38+0 billion yuan to set up platform credit funds. 2065438+In September 2004, a special fund for supplier growth was put forward to help solve the financing problem of small and medium-sized enterprises. When the supplier is financing from Suning, Suning will also provide special funds to feed back the supplier in the form of discount, and the maximum subsidy is 20% of Suning's credit interest.

Recently, in May of 20 15, the promotion of discretionary payment allowed users to use discretionary payment to pay directly when shopping, and enjoy services such as cash withdrawal, 30-day interest-free (fee) during the preferential period, and ultra-low handling fee installment. This refers to Suning? Supply chain finance+fund insurance+consumer credit? The financial layout of the whole industry chain has taken shape.

Generally speaking, the current situation of supply chain finance development in Suning can be divided into the following categories:

1, Suning has an offline trading network that has been deeply cultivated for more than 20 years and the top three online trading platforms, and has a large number of SME customer resources.

2. Business flow, capital flow, information flow and logistics form an effective closed loop in Suning financial ecosystem.

3. Suning's supply chain financing has always maintained a record of zero bad debt rate.

4. Suning's supply chain financing does not need mortgage or guarantee, but applies for credit line according to the credibility of suppliers' past trade.

5. Suning Financial's supply chain financing platform is fully connected with Suning's backstage information system, and Suning's efficient internal risk control and data approval process mechanism greatly shortens the approval process and lending cycle.

Fourth, Suning supply chain financing operation process

1. Membership application: The supplier logs on SCF platform and becomes a qualified member of Suning Financial Club.

2. Express financing intention: suppliers express financing intention to marketing and settlement, and choose personalized financing products and cooperative banks.

3. Review and recommendation of Suning: Marketing settlement recommends suppliers to the fund management department to discuss financing products, cooperative banks and other related matters.

4. Bank financing: The bank decides the loan amount and issues loans according to the qualifications of suppliers.

5. Payment payable by Suning: When due, Suning will pay the amount in the settlement list to the supplier's financing account, and the bank will deduct the supplier's financing amount and settle the final payment with the supplier.

Verb (abbreviation of verb) Comparison between Suning's supply chain financing and other financing

1, compared with JD.COM.

The financing process of JD. COM:

1. 1 approved amount: after the supplier confirms to handle the supply chain finance business, the supply chain finance business specialist will send an email to the supplier to inform the maximum financing amount, and the total financing amount must be less than or equal to the maximum financing amount.

1.2 bank account opening: after obtaining the maximum financing amount, the supplier opens a special bank financing account at the business acceptance bank designated by JD.COM.

1.3 Submit financing application: After the supplier has opened an account, it can handle financing business. Every time you raise funds, you should apply to your purchasing and sales colleagues to confirm the purchase order of financing.

1.4. Check the settlement amount: after selecting the purchase order, the supplier should check the settlement amount at the same time of purchasing and selling.

1.5 Submit the settlement application form: the person in charge of purchasing and selling submits the settlement application form in JD.COM system, first check the financial settlement of the supply chain, and then select the payment settlement application.

1.6 settlement document approval: the submission of financing information is based on the completion of settlement document approval in the system, and the influence of approval progress and the progress of lending need to be communicated between suppliers and the person in charge of purchase and sale.

1.7 preparation of financing materials: after the statement is submitted, the supply chain finance specialist prepares financing materials, and the financing content is mainly subject to the statement information.

1.8 Review and submit materials: After the settlement bill is approved, the supply chain finance specialist will submit the prepared financing materials to the bank to follow up the loan progress.

1.9 bank loan and JD.COM repayment: after the bank verifies that the financing information is correct, it will lend money to the supplier. On the due date, JD.COM repays the bank for the supplier. Credit granting refers to the behavior that banks directly provide financial support to customers or guarantee customers' credit to third parties in related economic activities.

It can be seen that JD.COM has formed a set of big data-driven JD.COM supply chain system through differentiated positioning, self-built logistics system and other strategies, and through years of accumulation and precipitation, it has provided loans and wealth management services for upstream suppliers and credit sales and installment payment services for downstream consumers. Although JD. The magnificent logistics system of COM seems to have solved the passive situation that B2C e-commerce enterprises rely on the third-party logistics in JD.COM. Almost unlimited capital investment has seriously hindered the development of JD.COM; As a traditional industry, Suning will become one of Suning's greatest advantages, relying on thousands of offline chain stores, 100 logistics center, 3000 after-sales service outlets, perfect chain stores and logistics system construction, which is unmatched by JD.COM. Moreover, for suppliers, Suning has a special supply chain financing platform (SCF), which seamlessly connects with many banking systems to ensure suppliers' simple and fast financing, while SMEs can quickly obtain liquidity from banks without guarantee or mortgage. This is not available in JD.COM.

2. Comparison with bank credit:

2. 1 In Suning's supply chain financing, suppliers pledge or transfer their accounts receivable to banks, and get financing quickly without mortgage or guarantee. Moreover, small and medium-sized enterprises can get liquidity from banks quickly without guarantee or mortgage. In traditional bank credit, no matter whether the supplier is big or small, it is necessary to provide collateral (such as real estate, etc.). ) or seek guarantees, and lending is complicated and slow. Without collateral and guarantee, banks will not lend to suppliers, which is the biggest disadvantage of traditional bank credit.

2.2 In Suning's supply chain financing, electronic operation meets the short, frequent, fast and urgent financing needs of suppliers; Traditional bank credit needs a lot of manual operation, which can't meet the short, frequent, urgent and fast financing needs of small and medium-sized enterprises and can't keep up with the current electronic demand;

2.3 Comparatively speaking, Suning's supply chain financing has a variety of financing methods, such as multiple orders and multiple financing. Suppliers have strong maneuverability and high flexibility, and can choose the appropriate financing method according to their own needs, while the traditional bank credit financing method is single and inflexible, so suppliers have no choice but to comply with the requirements of banks;

2.4 Suning's online business is not limited by the location of suppliers and can serve more enterprises. However, the traditional bank credit is limited by the localization of bank loans, and suppliers can only go to local banks for loans, which is too restrictive for the region and cannot effectively improve efficiency.

The risks and suggestions of developing supply chain finance in Suning.

1, risks faced by Suning's supply chain finance

Suning.cn said that it will mainly promote the upstream economy and the supply chain financing business of consignment suppliers nationwide. Suning's supply chain finance business is in the original credit? Bank factoring? On the basis of financing business, it is a brand-new upgrade of Suning's supplier financing business. Suning 20 12 introduced? Suning small loan? Financial services will also be fully open, among which? Suning small loan? It is an e-commerce financial business funded by Suning enterprise and oriented to small and medium-sized enterprises. All Suning brokers and consignment suppliers can use Suning.cn's accounts receivable as collateral for financing loans, and the maximum single financing amount of this business can reach100000. Suning announced the full launch of e-commerce finance business and the full opening of Suning's supply chain finance business to SMEs.

The launch of financial business by Suning is the first time that a domestic traditional retail enterprise has set foot in e-commerce financial business, which is of great significance to both the enterprise itself and the domestic traditional retail industry. However, due to its traditional retail background, developing supply chain finance through Suning.cn will face special risks.

1. 1 Risk of funds occupied by offline business

Suning proposed? Technological innovation, intelligent service? Slogan, through a series of operations to increase investment in technology and services, which the company has always insisted on? Foreground drives background, and background drives prospect? In the long run, the continuous improvement of logistics platform and the construction of information system are conducive to the stability of enterprise operation. However, in the short term, with the increase of investment in purchasing stores, self-built stores and related assets of logistics system, the turnover efficiency is affected and the demand for funds is increased. At the same time, in order to keep up with the development trend of retail industry, Suning has vigorously developed e-commerce supply chain finance, further increasing the demand for funds. If you can't maintain a good capital turnover, it will affect the company's offline retail industry.

1.2 Risk of online business being restricted by banks

Suning has been strengthening cooperation with banks and developing supply chain financial activities. With the further development of online platform, it can reduce the liquidity risk caused by occupying its own funds, but at the same time, it also creates the risk of being easily restricted by banks, because the service targets of e-commerce supply chain finance are mostly small and medium-sized enterprises, and it is Suning's credit that ensures the flow of funds from banks to these enterprises that could not meet the credit standards of banks, thus increasing its own risks. In the case of economic depression, it will have a great impact on the company. At the same time, if the company's offline business is unstable, banks will reduce their credit to Suning, thus restricting the development of supply chain finance.

2. Suggestions for Suning to develop supply chain finance to avoid risks.

2. 1 Strictly control the credit granting process and strengthen the management of credit granting personnel.

The credit process mainly refers to loan approval, loan issuance and post-loan management. E-commerce enterprises should strictly control the risks in all links and establish a perfect risk firewall, that is, risk early warning procedures. At the same time, always monitor the capital flow and operation of credit enterprises, establish non-performing assets disposal procedures and risk response measures to prevent risks from the system; Supply chain finance and credit personnel should strictly implement the credit business process, strictly follow the multi-level risk early warning and management system before, during and after lending, and guard against credit risks from personnel. To strengthen relevant business training and improve the quality of business personnel, the development of supply chain finance must rely on the improvement of personnel quality, and we should start with various human resources modules such as recruitment, selection and training incentives to improve the quality of business personnel.

2.2 Strengthen offline financial control

Although Suning.cn now ranks third in the domestic e-commerce market share, it is far below Taobao's market share of more than 52%. The company's development is not healthy enough, and it is inseparable from the support of offline business funds and manpower. However, the development of Suning. com has just started and has great potential. Therefore, the demand for financial support will continue to increase in the short term, which requires the company to pay more attention to the safety of funds and ensure that the capital investment is gradual and will not drag down the development of offline business, otherwise.

2.3 securitization of credit assets

Securitization of credit assets refers to packaging, listing or selling credit assets of various risk levels to investors in the market. On the one hand, it can increase the liquidity of assets, on the other hand, it can pass on the credit risk. This way can improve the quality of assets, ease the pressure on funds, expand the sources of funds and improve the security of funds.

2.4 Use various risk control tools to distinguish risk categories and identify potential losses.

ERP system refers to a management platform which is based on information technology and provides decision-making operation means for enterprise decision makers and employees with systematic management ideas. It is a new generation of integrated management information system developed from MRP (Material Requirements Planning), which expands the functions of MRP and its core idea is supply chain management. It jumps out of the traditional enterprise boundary and optimizes enterprise resources from the scope of supply chain. Electronic data interchange (EDI), also known as EDI (Electronic Data Interchange), is a new method of business processing by computer. It adopts an internationally recognized standard format, exchanges and processes data among relevant departments, companies and enterprises through computer communication networks, and completes all trade-centered business processes. Relying on Internet technology, through ERP system platform, using EDI and other information processing technologies, an information network with highly shared data of materials and funds can effectively avoid risks.

2.5 Establish an emergency mechanism.

Supply chain finance involves many enterprises and a wide range, and each link has many uncertain factors, which are prone to some unexpected situations. Therefore, e-commerce enterprises should establish a sound emergency response mechanism. The emergency mechanism should be able to solve two problems. One is to prevent unexpected events, monitor the operating conditions of credit enterprises irregularly through some evaluation indicators, and find and adjust problems in time; The other is to deal with emergencies, formulate timely and perfect treatment measures, and deal with emergencies in time to avoid more serious risks caused by untimely treatment.

Seven, Suning cloud supply chain finance development trend forecast

1, supply chain digitalization

Each information node is gradually digitized and transparent. Information such as order status, transaction history, and transaction subject in each link of the supply chain will gradually precipitate on the platform, which can collate these data and provide them to banks, which will provide funds, and the platform will ensure the authenticity of the data.

2. Financial Internetization

Integration with the Internet? Logistics, capital flow, information flow and business flow? , improve efficiency and reduce risks. Supply chain financial business processing can be faster, more accurate and more stable, and trade links and financing links are also more low-carbon, smooth and convenient.

3. Business integration

? E-commerce+logistics+finance? Comprehensive service. E-commerce is the most innovative front-end field of business model under the new situation; Logistics enterprises are the solid support to support the transportation and circulation of physical goods in the supply chain; Commercial banks are the largest and most comprehensive providers of funds and financial services in society.

4. Personalized service

According to the different businesses of different enterprises, it is possible to customize financial services for them and realize the personalized customization of supply chain financing products, which provides the possibility for innovating the products and service models of supply chain finance.

refer to

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2. Cha Hongwei. Discussion on e-commerce supply chain finance [M]. Shanghai Jiaotong University, 20 14

3. Xie Huobao, Jess Zhang. The construction of enterprise ERP system and its integration with accounting information system in the era of big data [J]. Finance and accounting, 20 14

4. Liang Zhong. Research on the risk of developing supply chain finance in e-commerce environment —— Taking Suning.cn as an example [D]. [Master's Degree Thesis] .2013

5. Du Fu. Shang Yun, Suning: Small and Medium Suppliers of Supply Chain Financial Services [J]. WTO Economic Guide 20 13

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