Study On The Supply Chain Finance Management Of Wood Processing Industry

Wood processing industry plays an important role in the economic and social development of Fujian.Fujian is a province of Forestry,the province's forestry industry output value reached 256 billion yuan in 2011,ranking the fourth in the whole country.Wood processing industry involves long industry chain related industries and more.the total number of farmers involved in forest from Fujian Province accounts for about three-quarters of the population,so the development of wood processing industry increasese the farmers' income and promote economic and social development in Fujian forestry.Since banks reluctance to lend to SMEs,the lack of multi-level capital market and other external financing environment for SMEs,the wood processing industry has been facing the problem of financing,has attracted wide attention.Domestic banks in the steel,petrochemical,automotive and other industries to carry a few financial services supply chain solves the problem of financing SMEs.However,due to the unique nature of the timber industry,wood processing products,product differentiation and other reasons,commercial banks have not yet cultivating supply chain finance in timber processing industry.In view of the supply chain financial products to solve the problem of financing small and medium enterprises in the innovation role of research in-depth understanding of the wood processing industry supply chain,based on the characteristics of the wood processing industry supply chain finance research,whichwill develop commercial banks timber supply chain finance products,wood processing industry enterprises through financial innovation financing,the government designed to support the development of SMEs and financial policies to provide theoretical support and policy advice to promote the development and expansion of timber processing industry is also important.The core of financial management of supply chain is the supply chain finance risk management.This study from the wood processing industry supply chain structure,partnership,information sharing and supply chain financial risks and other aspects,in-depth research on Putian wood processing enterprises through the questionnaire survey and the interview,a comprehensive review of the wood processing industry supply chain financial structure,financial product demand,partnership,information sharing and supply chain financial risk situations.On this basis,using structural equation modeling(SEM)an empirical research on the relationship of wood processing industry partnership,information sharing and supply chain finance three;on the other hand,using case analysis method,analysis of supply chain finance,inventory pledge financing and accounts receivable financing the two financing mode based on,proposed financial solutions to financing difficulties of wood processing enterprises.Finally,from five angles of wood processing industry supply chain of small and medium enterprises,the core enterprise,commercial bank,the third party logistics and the government proposed to strengthen the wood processing industry supply chain finance management policy recommendations.First,the research in theoretical basis of the literature review,the financial supply chain,through the basic situation,the supply chain structure,wood processing industry supply chain financial behavior subject,the wood processing industry mainly mode,function value,financial risk analysis.The study found:(1)the wood processing industry overall development situation is favorable,enterprises need to have higher financing ability,but the current structure of enterprise financing liabilities are not reasonable,financing risk is relatively high;(2)the wood processing industry supply chain of China is mainly composed of wood resource suppliers,timber processing enterprises,wood products distributors and end users,in the supply chain structure,there are complex,dynamic,cross and risk characteristics;(3)the wood processing industry supply chain financial behavior subject,including the core enterprise supply chain of small and medium enterprises,commercial banks and the third party logistics enterprises;(4)the main mode of wood processing industry supply chain finance is summed up as stock financing,accounts receivable financing and the advance payment financing;(5)the wood processing industry supply chain finance risk mainly includes macroeconomic and industry risk,supply chain risk,credit risk,collateral or pledge risk and operational risk.Second,this study through the field investigation and questionnaire survey of wood processing industry in Putian City,Fujian Province,the supply chain enterprises,in-depth analysis of wood processing industry supply chain enterprise basic information,supply chain finance,supply chain partnership,information sharing,wood processing industry supply chain finance risk and enterprise to use third party logistics status.The investigation found:(1)the majority of wood processing industry supply chain enterprises to private enterprises and individual enterprises as the main body of the small and medium-sized enterprise,enterprise flowing funds generally tight,financing ability is limited,there is almost no use of supply chain finance product;(2)between wood processing enterprises and the upstream and downstream partners with the ideal state there is a large gap,trust degree is not very high in some ways;most enterprises recognized and its supply chain partners share the job information,strategic information and logistics information,but this share is not without reservation,but more enterprises consider their own interests,particularly reluctant to share financial information;(3)the majority of wood processing enterprises the future development prospects of economic and trade,finance,credit,management status and the status of the enterprise market and development prospect of the enterprise's own good;(4)the enterprise that can be pledged stock most easy storage,easy measurement,liquidity strong,sales channels,sales,market prices relatively stable,the market potential demand for larger;(5)occurs debtors,most debtors creditors debtor's credit receivables,business conditions,the ability to perform the contract based on a better understanding of trade;(6)third-party logistics has penetrated enterprise and the supply chain logistics activities between enterprises.Third,using the structural equation model of the wood processing industry supply chain partnership,information sharing and supply chain finance risk research,we draw the following conclusions:(1)wood processing industry in Fujian Province from the current supply chain partnerships degree look,enterprise and supply chain level of mutual trust between the partners,information sharing is not very high,there is a gap with the ideal state;(2)from the supply chain partnership between the information sharing effect level,from the overall perspective,supply chain partnership has significant positive effect on the level of information sharing;(3)information sharing on the supply chain financial risk has a negative impact;(4)partnership have a significant negative impact on the financial risk of supply chain,is the main cause of indirect effects on the supply chain financial risk through the intermediary variable information sharing;(5)as partners of the partnership and information sharing can influence the supply chain finance and downstream;(6)effects of partnerships and information sharing for the inventory risk less than the risk of accounts receivable.Fourth,the use of case studies explore ways based wood processing industry supply chain finance inventory and accounts receivable financing pledge pledge financing modes,select two wood processing enterprises in the carding status quo business,supply chain relationships and Financing Status based on the design for your enterprise credit programs,business processes,wood processing industry enterprises to solve the cash flow gap to provide supply chain finance solutions.Fifth,according to the financial status of wood processing industry chain,supply the empirical analysis and case analysis,from the supply chain of small and medium enterprises,the core enterprise,commercial bank,the third party logistics enterprise and government are put forward countermeasures and suggestions to enhance the wood processing industry financial supply chain management.