Text|Spring is safe
Editor|Wen Zhiyuan
Since 2014, Yonghui Supermarket has begun to get involved in the financial industry, and in 2015, it launched the "One Road, One Belt" Internet financial model, and in the same year, Yonghui Supermarket set up a financial division;
In 2016, he applied for two financial licenses and officially entered the field of supply chain finance.
First, the motivation for the implementation of supply chain finance of Yonghui Supermarket
(1) Macro analysis
1. Technical support
According to relevant data, supply chain finance appeared earlier than the Internet.
However, in the first few years, little success was achieved, until the rapid development of the Internet and the increasing penetration rate, supply chain finance began to slowly develop.
Ultimately, it is technology that plays a key role.
Supply chain finance can be widely implemented, thanks to the development of science and technology and big data networks.
Due to the obvious characteristics of the supermarket chain industry, Yonghui Supermarket facilitates the centralized management and analysis of the transaction data of small and medium-sized suppliers.
A supplier service system - "Supply Zero Online" has been established, which is engaged in the pre-initiation of orders to online bill verification during the event, and then the return and exchange management and archiving after the event.
It is convenient for suppliers and Yonghui Supermarket to understand the most real transaction data.
Yonghui Supermarket also combines the supplier service system with the mobile office service platform "Huixin" to realize the mobile office function of the supplier service system.
The platform relies on the information storage and information interaction functions of the Internet to provide great technical support for Yonghui Supermarket to implement supply chain finance.
If the supplier service system is the cornerstone of Yonghui Supermarket's early supply chain finance, then today's big data and blockchain technology are the direction of Yonghui Supermarket's innovative supply chain finance.
Big data technology can provide technical support for supply chain finance in terms of risk control and information tracking, and is widely recognized because of its unique characteristics of blockchain technology.
If it is applied to the field of supply chain finance, Yonghui Supermarket may create a broader development space for supply chain finance through the application of blockchain technology.
2. Economic factors
From the perspective of the market size of supply chain finance in recent years, the market share of supply chain finance is not limited to a single industry, and leading enterprises in various industries hope to get a piece of the pie.
As the core enterprise of supply chain finance, supermarket chains have a large number of suppliers, which have natural advantages in their professional fields, although these suppliers are diverse.
However, the capital problems caused by the market economy environment are common, which has given birth to the development of supply chain finance to a certain extent.
The years when Yonghui Supermarket vigorously developed supply chain finance were precisely the years of diversified transformation of supply chain finance, as found in the 2017 China Supply Chain Finance Survey.
Among them, 82% of the interviewed companies in the industry believe that the current macroeconomic environment of supply chain finance is favorable and is in a stage of steady rise.
As of 2019, the market size of mainland supply chain finance has reached 23 trillion yuan, and it is predicted that in 2024, the market size of mainland supply chain finance will exceed 40 trillion yuan.
It can be seen that supply chain finance has always had great market potential since its development, and with the change of consumption patterns and the rise of consumption levels, the implementation of supply chain finance of Yonghui Supermarket is inseparable from the promotion of economic factors.
In the future development, Yonghui Supermarket can still rely on the continuous changes in economic factors and market rules.
Continuously make greater achievements in the field of supply chain finance, and inject fresher vitality into the development of enterprises.
(2) Microscopic analysis
Chain supermarkets are affected by the macro environment and the downward pressure on the industry, in order to comply with market demand and reduce the risks caused by external factors to their own development.
Yonghui Supermarket chooses to continue to innovate and change, actively increase business forms, stabilize financial status, and develop financial business.
Manage different business forms by platform and actively promote the development of online business clusters.
Integrate the supply chain, strengthen the management of capital flow and information flow, and use high-quality resources to empower enterprise development.
The strategic model and development direction of Yonghui Supermarket provide certain support for the stable operation of supply chain finance.
In addition, the financing difficulties of small and medium-sized enterprises are also one of the motivations for Yonghui Supermarket to implement supply chain finance.
Looking at the annual financial report of Yonghui Supermarket, it can be seen that the procurement amount of the top five suppliers of Yonghui Supermarket only accounts for about 5%.
Moreover, according to the business model of Yonghui Supermarket, the probability of fresh food business is higher.
This shows that the number of upstream suppliers of Yonghui Supermarket is large and the supplier network is complex.
Yonghui Supermarket hopes to cooperate with suppliers to strengthen high-quality brands, provide stable funds for suppliers while enhancing their own corporate value, and realize stable strategic cooperation with suppliers for mutual benefit.
This strategic development direction coincides with the core enterprises to stabilize the supply side through supply chain finance and form a community of interests.
In line with the goal of increasing the right to speak, the implementation and development of supply chain finance in Yonghui Supermarket has become an inevitable trend.
Second, Yonghui supermarket supply chain finance implementation path analysis
(1) Batch credit granting by China Guangfa Bank
The cooperation between Yonghui Supermarket and China Guangfa Bank is the earliest participation of Yonghui Supermarket in supply chain finance as a core enterprise.
Although it is not particularly mature, it also fully demonstrates the determination of Yonghui Supermarket to prepare for the development of supply chain finance.
The batch credit granting of Yonghui Supermarket by China Guangfa Bank is still in the stage of using the credit qualifications of core enterprises and the upstream control power of core enterprises to provide funds.
As a large-scale chain supermarket, Yonghui Supermarket has a complex supplier group but still has certain classification standards.
And suppliers with smaller annual sales revenue account for a considerable proportion.
Since CGB is a capital provider of external financing, some enterprises with small supply and unable to understand their actual situation through core enterprises are not included in the scope of credit.
In addition, although some suppliers have established a relatively stable cooperative relationship with Yonghui Supermarket, they are large in scale and can control the flow of funds well, so such suppliers are not within the scope of credit.
In addition to formulating standardized supplier classification standards, CGB's cash management system and the above-mentioned Yonghui Supermarket's "supplier service system" worked together to provide risk control support for this credit facility.
CGB's intervention in the trade link of Yonghui Supermarket can effectively detect the capital flow of target customers.
And through the perfect information storage and sales process of Yonghui Supermarket, it reduces its own bank loan risks, and provides financial support for eligible target customer groups.
At the same time, Yonghui Supermarket provided relevant risk control measures for the stable implementation of supply chain finance.
Including the annual supply accounting based on comprehensive judgment, CGB as the sole account for payment, and CGB can supervise the transactions between Yonghui Supermarket and suppliers through the supplier service system of Yonghui Supermarket.
The main features of the cooperation between China Guangfa Bank and Yonghui Supermarket are that it strengthens the control of the trade link, weakens the demand for guarantees, and provides more convenient financing services for suppliers.
Strict classification standards, strong system support and perfect risk response measures have contributed to a win-win situation for all three parties.
Through its core enterprise Yonghui Supermarket, China Guangfa Bank has effectively controlled credit risks, expanded its small business customer base, and increased its business income accordingly.
Suppliers got rid of the lack of funds and expanded their sales.
For Yonghui Supermarket, it can not only stabilize the cooperative relationship with suppliers, but also help Yonghui Supermarket to avoid the risk problems caused by the mismatch between the amount of funds and the supplier's ability and improve its competitiveness.
(2) Yonghui Supermarket self-built financial division
External financing tends to have a long cycle and cumbersome processes.
Therefore, Yonghui Supermarket established Yonghui Finance and built its own financial division to provide internal financing for small and medium-sized suppliers with capital needs.
Internal financing mainly adopts the accounts receivable financing model, and the real trade transaction between the core enterprise and the supplier is the precondition.
Financial support for small and medium-sized suppliers through its own Financial Division.
This method is not limited by the repayment conditions of commercial banking institutions, and provides a more flexible and efficient financing method for small and medium-sized suppliers.
Thus, it stabilizes the upstream supplier group of Yonghui Supermarket as a core enterprise, drives the capital operation of all parties, improves the utilization rate of funds, and provides favorable conditions for the operating and financial status of Yonghui Supermarket.
This financing method combines the accounts receivable financing model, which is typical of internal financing and supply chain finance, to provide financial support to suppliers.
In addition, Yonghui Supermarket has successively developed a series of financing products to finance small and medium-sized enterprises by taking advantage of the financial license obtained by Yonghui Finance.
"Huishang Supermarket" and "Huishang" are the most representative supply chain financial products of Yonghui Supermarket as the core enterprise.
"Huishang Supermarket" adopts the accounts receivable financing model, and its product positioning is to provide financing services for omni-channel small and medium-sized enterprises, but the users are mainly suppliers of Yonghui Supermarket.
The financial product belongs to the independent financial division of Yonghui Supermarket, and is a stable cooperative supplier of Yonghui Supermarket for customers.
Therefore, future financial and information flows are stable and predictable.
Therefore, Yonghui Supermarket can understand the cash flow problems of suppliers in real time through this product, helping core enterprises make more accurate judgments on procurement plans and capital conditions.
Solving the problem of self-payment collection and supplier financing is not only the basic measure for Yonghui Supermarket, as a core enterprise, to provide a stable capital environment for the upstream.
It is also the key to improving financial quality and optimizing financing efficiency of Yonghui Supermarket.
The operation mode of "Huifu" products is basically the same as that of "Huishang Supermarket", both adopt the accounts receivable financing model, and the difference with "Huishang Supermarket" is that "Huifu" is the first supply chain financial product for the company.
Small and medium-sized merchants in various entities can meet their financing needs through "Huifu".
Its internal principle is basically the same as the internal financing process of Yonghui Supermarket, and the whole process is operated online.
The amount of financing is also calculated in real time based on the data of the supplier service system and the intelligent risk control model, and the repayment method and interest are consistent with those of "Huishang Supermarket".