The Impact Of Supply Chain Integration On Enterprise Financial Performance

With the advancement of science and technology and the development of the sharing economy,the environment of production and operation faced by enterprises is becoming increasingly complex.At the same time,the changes in resources and market brought about by economic globalization have also brought new challenges and opportunities to enterprise development.In this situation,appropriate supply chain management becomes one of the important ways for enterprises to improve their competitiveness.As an important part of supply chain management,supply chain integration plays an important role in the sustainable development of the entire supply chain.As the bellwether in innovative development,high-tech enterprises are playing an increasingly important role in realizing national technological innovation,optimizing industrial structure and enhancing competitiveness.The short product life cycle and high personalized demand of customers also enhance the urgency of supply chain integration.Therefore,this paper chooses high-tech manufacturing enterprises as the research object to explore the impact of supply chain integration on their financial performance,so as to contribute to the supply chain management and performance improvement of high-tech manufacturing enterprises.Firstly,this paper sorts out the research status of domestic and foreign scholars,classifies and summarizes the research on supply chain integration,financial performance and the relationship between them.In the existing research,most scholars believe that supply chain integration plays a positive role in promoting the financial performance of enterprises,but some scholars believe that there are other relationships between the two,such as negative correlation or inverted U-type relationship.At the same time,most scholars’ research in the past has focused on a wide range of manufacturing,agriculture,retail industry and other fields,but few specifically take high-tech enterprises as research objects.Then,this paper selects the high-tech enterprises in the manufacturing industry of A-share listed in Shanghai and Shenzhen stock markets from 2014 to 2017 as the research object.This paper chooses the period expense rate,inventory turnover rate,net sales rate,total return on assets,and operating profit rate as indicators of financial performance of the company,and takes R&D investment,company size,asset-liability ratio,company growth and the nature of controlling shareholders as the control variables.This paper studies the impact of supply chain integration on corporate financial performance from two aspects: supplier integration and customer integration.The research model is analyzed by SPSS20.0 and Stata14.0 software.Study found : supplier integration and customer integration have different impacts on the financial performance of high-tech manufacturing enterprises.High-tech manufacturing enterprises can reduce the period expenses of enterprises and increase the inventory turnover rate through supplier integration,but it is not conducive to the improvement of corporate net profit margin,total return on assets and operating profit margin;through customer integration,high-tech manufacturing enterprises can promote the reduction of expense ratio and the improvement of inventory turnover rate during the period,and further have a positive impact on the improvement of net profit rate of sales,return rate of total assets and operating margin of the enterprise,so as to improve the overall financial performance of the enterprise;The company’s growth plays a significant role in the process of supply chain integration affecting the financial performance of high-tech manufacturing enterprises.The higher the growth of hightech manufacturing enterprises,the more the negative impact of supplier integration on enterprise financial performance will be weakened,and the stronger the positive impact of customer integration on enterprise financial performance.Finally,based on the relevant theories and the results of empirical research,this paper gives some suggestions on how to improve the financial performance of hightech manufacturing enterprises in supply chain management: first,rationally plan the relationship with suppliers;second,further optimize the relationship with customers;third,enhance the research and development capabilities of enterprises,and continuously promote technological innovation;fourth,improve supply chain risk management.