Narrow Results

Supply chain finance refers to the financial service model in which banks rely on core enterprises to manage the capital flow and logistics of upstream and downstream small- and medium-sized enterprises (SMEs). It adopts the self-testing and closed-loop credit model to control funds and risks. It is an efficient route for SMEs to solve the problem of financing. However, at present, the market of supply chain finance in China still faces problems such as the inability of credit disassembly of core enterprises, which seriously hinder the development of the supply chain finance industry. Blockchain technology featuring decentralization, tamper-proofing and traceability had been widely adopted in the field of finance and provided a new vision to solve the bottleneck for the development of supply chain finance. In this paper, with regard to the characteristics of supply chain finance, we propose a novel blockchain-driven architecture to reshape the business process of supply chain finance, and we introduce the underlying technical implementations in detail. Our contributions in this paper include (1) proposing a novel technical architecture of blockchain-driven supply chain finance management system and detailing its underlying implementations; (2) designing the mechanism of the credit disassembly, which is implemented by blockchain technology, to improve financing efficiency; and (3) exploring the impact and potential of blockchain technology in traditional business models (e.g., receivables financing, inventory financing and prepayment financing) in supply chain finance.

Operational collaboration in a supply chain is important due to the fierce competition among supply chains. However, the collaboration in a supply chain is often hindered by its distribution channel’s lack of funds. It is of significance to alleviate the capital constraint problem of the distribution channel and explore new joint operational and financial collaboration solutions. In this paper, we focus on exploring the optimal solution of operational collaboration in the presence of manufacturer collateral. We consider a supply chain consisting of a well-capitalized manufacturer and a capital-constrained retailer that faces difficulties obtaining credit from the bank. To help the retailer access financing for a purchase order, the manufacturer promises to pay the lender a proportion of the retailer’s loan if the retailer goes bankrupt. We find that when the bank credit with manufacturer collateral is considered as a mix of trade credit and bank credit, the retailer’s financing equilibrium depending on the maximum wholesale price what the manufacturer can set, can be neither trade credit nor bank credit alone, but a combination of them. Moreover, the retailer’s order quantity and the chain’s operational collaboration level will benefit from the manufacturer collateral.

Some prominent e-commerce giants, such as Amazon and JD.com, have established their own logistics service and shared it with other merchants. In this paper, we study the channel (reselling channel or agency channel) and logistics service (platform’s logistics or third-party logistics) selection strategies in an e-commerce supply chain composed of a limited capital supplier and a platform within the consideration of the supply chain finance. We show that the supplier’s channel and logistics service selection strategies depend on the cost coefficient of the platform’s logistics service and the production cost. Interestingly, the supplier prefers the reselling channel rather than the agency channel with the platform’s logistics service. This explains why the merchants in JD.com rarely use JD.com logistics in the agency channel. From the perspective of the platform, the platform may prefer the supplier to use third-party logistics service to deliver goods in the agency channel particularly when the cost coefficient of the platform’s logistics service is relatively large. Furthermore, the platform will put in more effort level aimed at enhancing the logistics service in the reselling channel.

As a critical financing method, supply chain finance (SCF) plays a vital role in addressing the financing challenges faced by small- and medium-sized enterprises (SMEs) and in promoting collaborative development within supply chains. However, SCF systems inevitably encounter complex risks of default contagion. Effectively detecting and assessing these risks, along with formulating reasonable financing strategies, are issues of common concern to both the academic and business communities. This study utilizes complex network theory to investigate the guaranteed warehouse financing model in supply chain finance. First, a complex network model of supply chain finance is constructed to analyze the transmission mechanisms of default contagion risk. This model effectively measures the ways and mechanisms of risk propagation. Second, a default probability model is developed to assess the risk magnitude for enterprises following default contagion. This model facilitates risk assessment and control, providing a scientific basis for financing decisions. Third, by constructing an SCF financing model, this study examines the financing decision-making behaviors of banks, manufacturers and retailers under various conditions. It reveals the interactions and interest trade-offs among participants in the guaranteed warehouse financing model. Finally, through simulation analysis, the study investigates the impact of different parameters on supply chain finance strategies. The results offer quantitative guidance for banks in setting loan quotas and provide a theoretical foundation for enterprises to formulate reasonable financing strategies in the guaranteed warehouse financing model.

Supply chain finance is a new financing model tailored for small and medium-sized enterprises, which integrates capital flow into supply chain management, providing commercial trade capital services for enterprises in all aspects of the supply chain and providing new loan financing services for vulnerable enterprises in the supply chain. Fractal originally is a general term for a graph, structure or phenomenon that does not have a feature length but has a statistically significant self-similarity; fractal theory is an emerging edge science that describes the complex system with a random structure and has been widely used in physics, chemistry, geography, economics and many other fields. On the basis of summarizing and analyzing previous published literature works, this paper expounded the research situation and significance of risk measurement in supply chain finance, elaborated the development background, current status and future challenges of fractal theory, proposed the improved fractal volatility model and financial evaluation model, performed risk analysis of supply chain finance through evaluation modeling and elastic fractal dimension, constructed a financial risk measurement model based on fractal theory, and discussed the importance of model parameter estimation, residual test and accuracy examination in risk measurement of supply chain finance. The final empirical analysis shows that the improved fractal volatility model and the proposed financial risk measurement model has better risk measurement ability under different out-of-sample prediction periods, and obtain more accurate conclusion of asymmetry determination of financial assets gains under the common inspection level. The study results of this paper provide a reference for the further researches on risk measurement of supply chain finance based on fractal theory.

Many supply chain finance problems can be fundamentally solved by using blockchain. The current technical challenge of applying blockchain in supply chain finance is the lack of systematic privacy protection architecture. Based on the architecture of Julongchain, through the nonlinear principal component analysis in private data feature extraction, this paper proposed a new type of privacy protection architecture based on specific supply chain financial system. This privacy protection solution split privacy data by decision machine, then mixed data using mixed mechanism, finally determined the characteristic weight of privacy data by applying the decentralized decision institution.

Supply chain finance business as a comprehensive financial solution for small and medium-sized enterprises or small and micro enterprises has been for many years, but in the new era of the information wave, the traditional model of supply chain finance has revealed its irreconcilable drawbacks, and the arrival of block chain technology seems to bring new solutions. Block chain technology has the advantages of immutable information, decentralization, strong traceability and so on. It can break the single vertical transaction upstream and downstream of enterprises, promote the upgrade of network structure, and create a financial industry chain that efficiently delivers value, so as to achieve a win-win situation among all participants based on credible and verifiable trade relations. Based on this, this paper gives an overview of the supply chain finance model and block chain technology, and analyzes the application of block chain technology in supply chain finance.

This paper focuses on the most important three-party participants in supply chain finance, builds a dynamic evolutionary game model of financial institutions, core enterprises and small and mediumsized enterprises, compares the strategic changes of the three parties before and after the introduction of blockchain technology, and discusses how blockchain technology can empower supply chain finance. The mechanism of action and numerical simulation analysis were carried out with the help of Matlab. The study found that the application of blockchain technology can effectively break “information barriers” and help financial institutions build a credit system; strengthen the cross-level transfer of core corporate credit to solve credit problems; reduce the financing cost of small and medium-sized enterprises to improve financing efficiency, thus achieving a stable state.