Supply chain belongs to a strategic cooperative body. As the main body of cooperative game, enterprises in the supply chain are affected by their own interests. At the same time, due to political, economic and legal factors such as information asymmetry, information distortion and market uncertainty, various risks exist. The following is the basic risk knowledge of supply chain management that I have provided for you. You are welcome to refer to it.
1, coordinating risks
Supply chain belongs to a strategic cooperative body. As the main body of cooperative game, enterprises in the supply chain are affected by their own interests. At the same time, due to political, economic and legal factors such as information asymmetry, information distortion and market uncertainty, various risks exist.
When the scale of supply chain becomes larger and the structure becomes more and more complex, the possibility of delayed and inaccurate information transmission will increase, and the whole supply chain will be in trouble. Coordination risk in supply chain management is the result of rational members' optimization behavior. Every member is a rational person. In order to maximize their own interests, they will hide some sensitive information, and information involving trade secrets will not be leaked. In order to meet the needs of consumers, some public information (such as the number of consumers' orders) will be exaggerated, which will distort the information and cause information risks. From the perspective of the whole supply chain, the maximization of the interests of each member does not necessarily bring the maximization of the interests of the whole supply chain. Often this "internal friction" will greatly affect the overall operation level and competitiveness of the supply chain.
In order to make enterprises in the supply chain obtain satisfactory results from cooperation, certain measures must be taken to avoid risks in supply chain operation, such as improving information transparency and enjoyment, optimizing contract mode and establishing supervision and control mechanism. In particular, it is necessary to implement incentives at all stages of enterprise cooperation through the operation of incentive mechanism to make the cooperation between supply chain enterprises more effective.
Usually, the overall coordination of the supply chain needs a core enterprise or an authoritative enterprise. Although it does not rely on authority to allocate resources like enterprises, there must be an enterprise similar to an authority center to carry out coordination and initiative activities. This core enterprise is also a rational market subject, and its decision-making behavior on the supply chain will inevitably safeguard vested interests.
Wal-Mart's supply chain is a typical large-scale retail supply chain, and the whole chain is centered on Wal-Mart retail enterprises. This organizational form gives Wal-Mart a unique advantage in preventing the inherent risks in the supply chain. In the eyes of suppliers, Wal-Mart is a difficult customer, because he thinks he is bargaining for customers, and he doesn't have to sympathize with suppliers. All they want is the lowest price. The dominant position makes Wal-Mart have an obvious advantage in communication with suppliers. He asked every enterprise to ensure the quality of the standard at the lowest price, to keep pace with Wal-Mart's information by using new technologies, to update its own capabilities in time without being eliminated, and so on. By requiring all suppliers to follow their own standards and requirements, their values will be subtly transplanted into suppliers' enterprises, which will increase the cultural characteristics of enterprises in the supply chain and gradually reduce the friction and risks caused by cultural differences between enterprises.
2, the risk of profit distribution
Supply chain is a dynamic form of alliance. Without sufficient profit space and reasonable profit distribution scheme, it is difficult for enterprises to unite closely. In today's meager profit era, the profit margin of order production driven by terminal demand is not thick. If the supply chain cannot effectively create profit space, it will directly question the existence of the supply chain.
Enterprises in the supply chain are the same stakeholders. Under the condition that the overall profit of the supply chain is certain, the increase of profits of some enterprises will lead to the decrease of profits of other enterprises, and the low profit level of some enterprises will lead to negative cooperation or even withdrawal from the supply chain, which will lead to the collapse of the supply chain.
In view of this, on the one hand, Wal-Mart tries its best to reduce costs and gain more profit space; On the other hand, the supply chain profits due to all enterprises should be distributed fairly, transparently and reasonably, thus eliminating the risk that the supply chain will fall apart due to the distribution of benefits.
3. Capital risk
Some enterprises may occupy a lot of money in the production and operation of upstream and downstream enterprises. If their financial situation is not stable enough, it will lead to a fatal blow to the whole supply chain at any time.
The upstream and downstream enterprises in the supply chain provide credit to each other, and all enterprises need to weigh the response speed and efficiency. Once the enterprise has financial crisis, the upstream products can't be exported normally, and the downstream products will be affected by the delay in the supply of inputs, which will lead to a link break in the chain. The fracture of one link will spread to the whole supply chain at a very fast speed, just like dominoes, the whole supply chain will face collapse.
4. Safety stock risk in supply chain
Proper inventory is the premise of the smooth production and operation activities of manufacturers, and too much inventory investment makes manufacturers bear too much storage costs and affect the profit level; Too little inventory will increase the risk of insufficient inventory of manufacturers. Generally speaking, in order to prevent and reduce the cost of inventory shortage, manufacturers need to determine an additional safety guarantee inventory on the basis of normal turnover inventory.
Generally speaking, when manufacturers deal with inventory information, the gap between companies affects the effective circulation of information, and the batch processing of information makes the "acceleration principle" in the company come into effect, and the demand information is often distorted or delayed, thus causing the typical reaction of buyers and production planners-"lead time or safety inventory syndrome". The effect is continuously strengthened until the excess part is increased and the corresponding cost is increased.
Excess capacity continues to spread to the whole supply chain, and distorted demand data begins to cause the second effect-"inventory reduction syndrome", and manufacturers have to choose to permanently reduce the sales price of products and erode corporate profits. The former effect leads to excessive inventory, and the latter result is caused by the company's efforts to find a way out. These two effects will continue to exist and promote each other.
5. External environmental risks
There is another risk from policy. The expectation of government economic policy will affect the strategic behavior between upstream and downstream entities in the supply chain. For example, the government's minimum tolerance line for industry manipulation and monopoly will become the boundary of the supply chain, thus restricting the development of supply chain members in a closer direction.
Expanding content: the construction of risk prevention mechanism of financial supply chain
Abstract: Financial supply chain emphasizes the integration and coordination of supply chain capital flow, logistics and information flow, which is a new research perspective of supply chain management. This paper aims to improve the coordination of capital flow, logistics and information flow in the supply chain, and plans to build a risk prevention mechanism of financial supply chain led by third-party logistics enterprises to provide reference for improving the management level of supply chain.
Keywords: supply chain management, financial supply chain risk management
In order to adapt to modern market competition and bring economies of scale, supply chain, a commercial operation mode, came into being. It connects suppliers, manufacturers, distributors, retailers and end users into a functional network. Through the control and integration of information flow, logistics and capital flow, the enterprises in the supply chain are connected into a close interest entity, and the product inventory and commercial transaction time are minimized. Practice has proved that strengthening supply chain management is an effective way to enhance its competitiveness. Therefore, the research and practice on the composition, operation and coordination of supply chain has aroused widespread concern in academic and business circles at home and abroad. In the existing research results, supply chain management focuses on the design and optimization of supply chain logistics and information flow management mechanism, reduces operating costs and improves efficiency by integrating logistics and information flow, and pays less attention to the capital flow accompanying logistics and information flow.
The supply chain that emphasizes the integration and coordination of capital flow in logistics and information flow is the financial supply chain. In the operation of supply chain, the circulation and appreciation of capital flow is a process from cash to reserve funds, production funds, finished goods funds, settlement funds and finally to cash. Through the coordination and integration of capital flow, logistics and information flow, the smooth operation of supply chain and the appreciation of funds are guaranteed. Compared with the capital flow management of a single enterprise, the scope of financial supply chain management is wider, the uncertain factors it faces are more complicated and the influence is more profound. Therefore, in order to implement the risk prevention of financial supply chain, financial risk and supply chain risk should be considered together.
First, the definition of financial supply chain risk
The risk faced by an enterprise in operation refers to the deviation between the actual income and the expected income of the enterprise, emphasizing the possibility of causing economic losses. Financial supply chain risk refers to the risk that the supply chain is delayed or interrupted, the coordination of capital flow and logistics is reduced, the financial cost of the supply chain is increased, and the supply of funds is insufficient due to the influence of various unpredictable and uncertain factors.
According to the sources of financial supply chain risks, they can be divided into two categories: exogenous risks and endogenous risks.
Exogenous risk is mainly the possibility that the change of external economic and financial environment will affect the smooth coordination of supply chain capital flow and logistics. Mainly due to the increase in financing costs of enterprises in the supply chain caused by changes in market interest rates and exchange rates; Or macroeconomic policy adjustment, legal revision and other factors lead to the interruption of product demand, and it is difficult to realize the value-added of supply chain, which leads to the risk of slow or even interrupted capital flow.
Endogenous risks are mainly financial credit risk, trade credit risk and information risk caused by incomplete cooperation or information asymmetry among enterprises in the supply chain, such as the termination of loans by banks due to enterprise default, the difficulty of accounts receivable collection due to inaccurate customer credit rating, and the distortion of information transmission about funds.
Understanding the risks of financial supply chain is helpful to prevent and control risks in an all-round way. The task of the risk prevention mechanism of financial supply chain is to strengthen the endogenous risk early warning mechanism with less resistance and the sensitivity to exogenous risks. Therefore, it is necessary to strengthen the coordination of capital flow, information flow and logistics, and enhance the synergistic effect of supply chain.
Second, the construction of risk prevention mechanism of financial supply chain
1, the construction of risk prevention mechanism of financial supply chain
As mentioned above, the financial supply chain highlights the "blood" role of capital flow in the supply chain and emphasizes the coordination of capital flow with logistics and information flow. How to achieve coordination, and on this basis, improve the viability and flexibility of the supply chain in the constantly changing and unpredictable market environment, prevent the slow or interrupted circulation of funds, ensure the safety of funds, and realize the preservation and appreciation of value is the goal of constructing the risk prevention mechanism of financial supply chain.
Therefore, to enhance the risk prevention ability of financial supply chain, the starting point and the end result must be to improve the coordination of capital flow, logistics and information flow.
In the supply chain network composed of suppliers of raw materials and intermediate products, product manufacturers, distributors, retailers and third-party logistics enterprises, logistics services such as warehousing, transportation and distribution are provided by third-party logistics enterprises. In addition, it will also play an important role in the supply chain network, while other enterprises will focus on production, sales and other core businesses. In the process of raw material supply, product manufacturing and sales, third-party logistics enterprises can provide warehousing, transportation and distribution services while obtaining the supply and demand information of raw materials and products in time. That is to say, starting from retailers connecting consumers, the information about product demand and inventory information will be fed back to manufacturing enterprises and suppliers in time, so that manufacturing enterprises can adjust the production and demand of raw materials and intermediate products in time. Real-time and reliable product demand and inventory information can effectively reduce trade credit risk and adapt to changes in market demand. This integrated and interactive state of logistics and information flow realizes the coordination of logistics and information flow. On this basis, third-party logistics enterprises provide warehousing services for other enterprises in the supply chain, and integrate financial business with logistics business. For example, logistics enterprises can provide trade agents for suppliers, manufacturers and sellers, sign purchase and sale contracts and manage receipts and payments, and in the process, systematically analyze relevant capital data, implement enterprise credit rating, identify risks on the basis of analyzing financial situation, analyze the impact of risks on supply chain, and feed back to other chain enterprises in time; In addition, according to the financial credit rating evaluation of enterprises in the supply chain, a comprehensive financial credit system in the supply chain is established to provide financial services such as entrusted loans and guarantees for other enterprises. This can not only avoid unnecessary duplication and high financial logistics costs caused by establishing a separate financial credit system for chain enterprises, but also overcome the disadvantages that a single enterprise only considers its own interests and lacks overall awareness in financial service negotiations with banks. This integrated management of logistics services and financial services, with the bridge of logistics and information flow erected by supply, production and sales as the link, realizes the coordination of logistics, capital flow and information flow, which is of great benefit to reducing the operating cost, financial credit risk and information risk of supply chain and improving the sensitivity of supply chain to exogenous risks.
2. Problems that need to be solved urgently to realize the risk prevention mechanism.
The improvement of the business ability of the third-party logistics enterprises. In the above-mentioned risk prevention mechanism, the third-party logistics enterprises play multiple important roles, such as "logistics service provider", "financial service provider" and "information provider", which puts high demands on the business ability of logistics enterprises. The implementation of these businesses will also directly determine the success or failure of supply chain operation and the effectiveness of risk prevention mechanism.
Timely and accurate information transmission. The transmission of information flow covers all aspects of supply chain operation, which is collected in the information center of third-party logistics enterprises, analyzed, processed and sorted, and then fed back to all chain enterprises. If the information containing the capital status is distorted in the transmission process, it will bring about the "bullwhip effect", which will not only prevent risks, but also cause greater losses. Therefore, timely and accurate information transmission is the premise of implementing risk prevention mechanism.
Fair distribution of income. Supply chain is the same body of interests formed by enterprises, but it does not exclude the realization of individual interests, otherwise there will be "immoral behavior" of individual enterprises due to lack of incentives, and even the disintegration of supply chain. The fair distribution of income among enterprises in the chain is the most intuitive performance to realize * * * *, and it is also the fundamental guarantee to ensure the smooth implementation of the risk prevention mechanism of financial supply chain. It is an effective way to realize the fair distribution of income by determining the principle of income distribution through consultation and adjusting the income distribution scheme reasonably in operation.
Third, establish relevant safeguard mechanisms.
To prevent risks in the financial supply chain and form a win-win situation for enterprises to take risks and enjoy benefits, chain enterprises should maintain a high degree of trust, which can be guaranteed by concluding contracts and establishing information technology platforms.
1. Guarantee trust by concluding various contracts.
Under the condition of market economy, the basic form of maintaining cooperative relationship between equal stakeholders is contract, which will provide mandatory implementation rules for supply chain operation and ensure that all parties provide complete information. Therefore, at the beginning of the establishment of the supply chain, we should conclude various contracts through consultation and cooperation negotiation on the principle of equality and mutual benefit. In the process of operation, enterprises in the supply chain should strictly abide by the contract, ensure a high degree of information enjoyment and improve coordination. Therefore, in the process of selecting member enterprises, core enterprises should take credit evaluation as an important standard, strictly screen the enterprises to join, externalize the original related transactions between enterprises into contract transactions, avoid friction as much as possible, and improve the operation efficiency of supply chain.
2. Establish an information technology platform to promote trust.
In order to ensure timely and accurate information transmission, realize information sharing and promote trust among members, enterprises in the supply chain can rely on internet technology, use information processing technologies such as EDI through ERP system platform, and establish an information network with high sharing of material and capital data, thus ensuring the coordination of logistics, capital flow and information flow, and realizing the seamless integration of supply chain financial services with logistics and information flow activities. This requires supply chain enterprises to increase the investment in information management hardware and the training of relevant professionals, so as to speed up the transaction processing flow, reduce the information risk and cost, and achieve a qualitative leap in information transmission and communication.
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