Research On The Risk Management Of The Supply Chain Financing In Food Industry

The food industry is an extremely important industry to promote the development of our national economy, play an important role promoting in economic growth, solving the surplus labor force, improving people’s living level. At the same time, the investment of the state and the huge consumption potential can also promoted the development of food enterprises. The average annual growth of the total industrial output value, the number of food enterprises and the rate of investment in fixed assets were 14.77%, 7.91% and 31.53%, each index has exceed the planning objectives after 2011. In 2013, the food industry added value is 9823.837 billions, the growth rate of 9.7% is similar to industry, the growth in the number of enterprises is 9.1%. So, food enterprises is in the stage of rapid development. However, there are many small and medium enterprises, its own funds is hard to meet the needs of enterprise development. The financing difficult phenomenon is existed because of its own restrictions.The supply chain financ ing(SCF) is a new financ ing method, it can better solve the financ ing problem of the small and medium sized enterprises from the whole supply chain perspective. Compared with the traditional mode of financing, it is worthy to discuss the characteristic and the advantage of SCF, different financ ing enterprise whether has the problems of different financ ing ways. While, there are many trade links in the food industry supply chain, any trading links may appear problem, and can bring the risk to the whole supply chain financ ing. The SCF is successful applied in iron and steel, automobile and other heavy industry in our country. Now, it is gradually applied in medic ine, agric ulture, food industry and so on. While, but now there has been no study on the food industry supply chain financing. It has a meaningful theoretical and practical significance to discuss what risk can effect the SCF of the food industry, what kind of risk will produced by different ways of financ ing, and how to evaluate and effective management to the risks.To analysis the advantage of the supply chain and explore the suitable financ ing mode of the different situation of enterprises according to the demand of financ ing demand and predicament of the food enterprises, and analysis the main risk-credit risk. Taking the 21 food enterprises of small and medium-s ized as samples, from the four aspects of the situation of the financing enterprises and core enterprise, the condition of trading pledge, the operation condition of the supply chain to credit risk evaluation system. Us ing princ ipal component analysis and two-Logistic regression model to measure the credit risk, and the model has test results. The conclusions are:(1) The influence of the profitability, operation ability and debt paying ability of the financing corporate are significant to credit risks of the SCF in food industry.(2)The influence of core profitability and solvency are significant to credit risks of the SCF in food industry.(3) The features of pledge and the close relationship between each transaction are significant to credit risks of the SCF in food industry.(4) The status of the supply chain, the position of the core industry has little effect on the risks of the SCF. And through the specific case to illustrate the SCF can better to solve the fund problem of the small and medium enterprises. Finally, putting forward the suggestions from the macro policy environment, banks and other financ ial institutions and financing enterprise, Only through the joint efforts of the government, financial institutions and enterprises, can the SCF of the food industries is able to solve the financing problem of small and medium-s ized enterprises.