白酒行业供应链融资产品优化研究
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摘要
近年来我国白酒产业正处于蓬勃发展的阶段,整个产业链的销售收入、利润规模等都得到了大幅提升,但是白酒产业链上的中小企业供应商和经销商在资金筹措上一直面临着巨大压力,究其原因,一方面是由于企业自身存在的一些问题及资本运作经验不足,另一方面则是因为商业银行现有融资产品的政策限制或产品设计的缺陷造成企业融资渠道狭窄,最终导致大量白酒制造业的上下游配套企业(尤其是中小企业)融资困难,一定程度上制约了白酒行业供应链发展的连续性、稳定性和效率性,同时也使商业银行丧失了扩大业务群、拓展业务的机会。
虽然近年来各家商业银行竞相开展供应链融资业务,推出的各类供应链融资产品业务名目繁多,但实际效果却不甚理想。由于供应链融资产品不同于传统信贷产品,其产品设计原理必须依托供应链上物流、信息流、资金流的传递而运用,不同的行业其物流、信息流、资金流,虽然存在一定的共性但是由于行业地位、行业发展等不同,行际差异也相当大,因此不能像传统信贷产品一样进行简单套用。本文从管理实践出发,主要站在商业银行的角度,旨在通过对“泸州老窖”白酒供应链上物流、信息流、资金流特性的深入分析,梳理制约白酒产业链提升的因素,揭示可能对商业银行开展供应链融资业务带来的潜在商机和风险,在现有商业银行供应链融资产品基础上优化其流程及风险控制措施,力图优化白酒行业供应链融资的解决措施,因而具有一定创新性和现实意义。
本论文分为三个部分进行分析：
第一部分是研究的基础工作,包括第一章的绪论部分,主要介绍研究背景,研究意义及研究思路等；第二章介绍论文的理论基础,从商业银行的角度提炼了供应链融资、供应链融资产品的内涵,介绍了供应链融资的特点、市场价值及供应链融资产品的品种及与传统融资产品的差异。
第二部分是文章的主体部分,包括第三章和第四章。
第三章主要对全国整个白酒行业的现状和发展趋势进行简要介绍,并以“泸州老窖”供应链为视角,分析其供应链上各主要环节的企业特点、资金结算特点和在产业链中的地位及各环节的融资需求和现状,找出融资中面临的问题和原因。‘
第四章是在前几章的基础上,根据白酒行业供应链的特点对现有供应链融资产品进行优化,对产品在各环节可能会出现的风险进行分析,并制定相应的风险控制措施。
第三部分是文章的总结,包括第五章,对本文研究的主要成果进行总结,对进一步的研究进行了展望。
Chinese liquor industry has boomed in recent years. Accordingly, sales incomes and net profits also have increased significantly. However, many small suppliers and dealers still have difficulties in financing. On one hand the reasons for the problem are lack of the experience of capital operation and many unsolved problems of the businesses themselves; on the other hand financing products from banks limited by policy and defects of the financing products bring business about a great pressure of financing. At last, many downstream supplementary enterprises of liquor manufacturing have difficulty in financing, especially small and medium-sized enterprises. To a certain extent, the continuity, stability and effectivity of the supply chains are restrained, at the same time the banks loss the chances of extending their business.
In recent years the banks have competed to provide a variety of products and services to extend the business of financing for the supply chains and the projects, but the actual effects is bad. it is still unwise to copy the way of traditional credit products since financing products are quite different from the traditional ones. The design principle of financing products is to adapt to the logistics, information strains and fund strains. Different businesses are quite different in their market positions and developments in spite of some similarities. This thesis, emphasizing on the practice of management, from the perspective of commercial banks, intends to optimize the process and risk-control measures on the basis of the current financing products of the commercial banks by analyzing the logistics, information and fund strains of Luzhou Laojiao. It also goes further to analyze the business opportunities and risks which would bring the business with financing from the commercial banks. It also tries hard to provide operatable methods to solve the problem of financing of liquor supply chains.
This thesis is divided into three parts.
The first part is the basis of the research. The introduction of chapter one is about the research background, the significance and methods. Chapter two is literature review. It elaborates the connotations of financing and financing products of supply chains from the perspective of commercial banks. And then it introduces the characteristics, and market value of supply chain finance, the types of supply chain finance products and the differences between these and the traditional ones.
The second part is the body of this thesis. It includes chapter three and chapter four.
Chapter three gives a brief introduction to the current situation and trend of China's liquor industry. It keeps an eye on the supply chain of Luzhou Laojiao and analyzes the characteristics of the company and currency settlements of the main links of the supply chain so as to find out both the problems and the reasons in financing.
Chapter four, based on the previous chapters, provides the financial products mix for the supply chain, analyzes the possible risks of each link and then provides the risk-avoiding measures. Finally, it predicts the profits of the products.
The third part, chapter five, is a conclusion of the thesis. It concludes the findings of this research and the implications for further researches.
虽然近年来各家商业银行竞相开展供应链融资业务,推出的各类供应链融资产品业务名目繁多,但实际效果却不甚理想。由于供应链融资产品不同于传统信贷产品,其产品设计原理必须依托供应链上物流、信息流、资金流的传递而运用,不同的行业其物流、信息流、资金流,虽然存在一定的共性但是由于行业地位、行业发展等不同,行际差异也相当大,因此不能像传统信贷产品一样进行简单套用。本文从管理实践出发,主要站在商业银行的角度,旨在通过对“泸州老窖”白酒供应链上物流、信息流、资金流特性的深入分析,梳理制约白酒产业链提升的因素,揭示可能对商业银行开展供应链融资业务带来的潜在商机和风险,在现有商业银行供应链融资产品基础上优化其流程及风险控制措施,力图优化白酒行业供应链融资的解决措施,因而具有一定创新性和现实意义。
本论文分为三个部分进行分析：
第一部分是研究的基础工作,包括第一章的绪论部分,主要介绍研究背景,研究意义及研究思路等；第二章介绍论文的理论基础,从商业银行的角度提炼了供应链融资、供应链融资产品的内涵,介绍了供应链融资的特点、市场价值及供应链融资产品的品种及与传统融资产品的差异。
第二部分是文章的主体部分,包括第三章和第四章。
第三章主要对全国整个白酒行业的现状和发展趋势进行简要介绍,并以“泸州老窖”供应链为视角,分析其供应链上各主要环节的企业特点、资金结算特点和在产业链中的地位及各环节的融资需求和现状,找出融资中面临的问题和原因。‘
第四章是在前几章的基础上,根据白酒行业供应链的特点对现有供应链融资产品进行优化,对产品在各环节可能会出现的风险进行分析,并制定相应的风险控制措施。
第三部分是文章的总结,包括第五章,对本文研究的主要成果进行总结,对进一步的研究进行了展望。
Chinese liquor industry has boomed in recent years. Accordingly, sales incomes and net profits also have increased significantly. However, many small suppliers and dealers still have difficulties in financing. On one hand the reasons for the problem are lack of the experience of capital operation and many unsolved problems of the businesses themselves; on the other hand financing products from banks limited by policy and defects of the financing products bring business about a great pressure of financing. At last, many downstream supplementary enterprises of liquor manufacturing have difficulty in financing, especially small and medium-sized enterprises. To a certain extent, the continuity, stability and effectivity of the supply chains are restrained, at the same time the banks loss the chances of extending their business.
In recent years the banks have competed to provide a variety of products and services to extend the business of financing for the supply chains and the projects, but the actual effects is bad. it is still unwise to copy the way of traditional credit products since financing products are quite different from the traditional ones. The design principle of financing products is to adapt to the logistics, information strains and fund strains. Different businesses are quite different in their market positions and developments in spite of some similarities. This thesis, emphasizing on the practice of management, from the perspective of commercial banks, intends to optimize the process and risk-control measures on the basis of the current financing products of the commercial banks by analyzing the logistics, information and fund strains of Luzhou Laojiao. It also goes further to analyze the business opportunities and risks which would bring the business with financing from the commercial banks. It also tries hard to provide operatable methods to solve the problem of financing of liquor supply chains.
This thesis is divided into three parts.
The first part is the basis of the research. The introduction of chapter one is about the research background, the significance and methods. Chapter two is literature review. It elaborates the connotations of financing and financing products of supply chains from the perspective of commercial banks. And then it introduces the characteristics, and market value of supply chain finance, the types of supply chain finance products and the differences between these and the traditional ones.
The second part is the body of this thesis. It includes chapter three and chapter four.
Chapter three gives a brief introduction to the current situation and trend of China's liquor industry. It keeps an eye on the supply chain of Luzhou Laojiao and analyzes the characteristics of the company and currency settlements of the main links of the supply chain so as to find out both the problems and the reasons in financing.
Chapter four, based on the previous chapters, provides the financial products mix for the supply chain, analyzes the possible risks of each link and then provides the risk-avoiding measures. Finally, it predicts the profits of the products.
The third part, chapter five, is a conclusion of the thesis. It concludes the findings of this research and the implications for further researches.
引文
②陈忠.中小企业供应链金融融资模式的探讨[D],北京交通大学,2008
③周纯敏.基于供应链金融的融资产品优化研究[D],上海海洋大学.2009
④冯懃,周小斌.供应链融资模式与银行供应链融资业务品牌分析[J],福建论坛(社科教育版),2009.(10)：45-46
⑦范来萍.供应链融资：突破中小企业银行融资瓶颈的有效路径[D],浙江师范大学,2009
[1]http://www.cei.gov.cn/
[2]陈忠.中小企业供应链金融融资模式的探讨[D].北京交通大学,2008
[3]周纯敏.基于供应链金融的融资产品优化研究[D].上海海洋大学,2009
[4]冯懃,周小斌.供应链融资模式与银行供应链融资业务品牌分析[J].福建论坛(社科教育版),2009,(10)：45-46
[5]范来萍.供应链融资：突破中小企业银行融资瓶颈的有效路径[D].浙江师范大学,2009
[6]李娜.浅析商业银行在供应链贸易融资中的商机和风险防范[J].广西金融研究,2008,(3)：49-50
[7]李霞.供应链融资的风险防范研究[J].物流与采购研究,2009,(10)：116-117
[8]原毅军,董晓炜,张蒙蒙.基于供应链的商业银行贸易融资模式创新[J].现代管理科学,2008,(8)：96-98
[9]曾敏刚,邹莹莹.物流金融在汽车行业供应链中的应用[J].中国发展进程中的管理科学与工程,2008,(1)：450-454
[10]杨米沙.论银行供应链融资市场与产品营销特点[J].金融理论与实践,2008,(8)：66-68
[11]马佳.供应链金融融资模式分析及风险控制[D].天津大学,2008
[12]苏莹.交通银行供应链金融研究[D].合肥工业大学,2009
[13]李彤.深发展：供应链金融.商界(评论),2007,(10)
[14]张荣刚,梁琦.产业集群内中小企业融资环境实证分析.生产力研究,2007,(01)
[15]闫俊宏,许祥秦.基于供应链金融的中小企业融资模式分析.上海金融,2007,(02)
[16]杨宴忠.论商业银行供应链金融的风险防范.金融管理与研究,2007,(11)
[17]李娜.浅析商业银行在供应链贸易融资中的商机和风险防范.广西金融研究,2008,(03)
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[21]深圳发展银行-中欧国际工商学院“供应链金融”课题组.供应链金融-新经济下的新金融.上海远东出版社,2009
[22]才金卉.商业银行国际贸易融资业务风险及对策.沈阳大学学报,2008,(05)
[23]何自力.授信额度核定的逻辑：一个共生理论的视角.金融论坛,2007,(01)
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④冯懃,周小斌.供应链融资模式与银行供应链融资业务品牌分析[J],福建论坛(社科教育版),2009.(10)：45-46
⑦范来萍.供应链融资：突破中小企业银行融资瓶颈的有效路径[D],浙江师范大学,2009
[1]http://www.cei.gov.cn/
[2]陈忠.中小企业供应链金融融资模式的探讨[D].北京交通大学,2008
[3]周纯敏.基于供应链金融的融资产品优化研究[D].上海海洋大学,2009
[4]冯懃,周小斌.供应链融资模式与银行供应链融资业务品牌分析[J].福建论坛(社科教育版),2009,(10)：45-46
[5]范来萍.供应链融资：突破中小企业银行融资瓶颈的有效路径[D].浙江师范大学,2009
[6]李娜.浅析商业银行在供应链贸易融资中的商机和风险防范[J].广西金融研究,2008,(3)：49-50
[7]李霞.供应链融资的风险防范研究[J].物流与采购研究,2009,(10)：116-117
[8]原毅军,董晓炜,张蒙蒙.基于供应链的商业银行贸易融资模式创新[J].现代管理科学,2008,(8)：96-98
[9]曾敏刚,邹莹莹.物流金融在汽车行业供应链中的应用[J].中国发展进程中的管理科学与工程,2008,(1)：450-454
[10]杨米沙.论银行供应链融资市场与产品营销特点[J].金融理论与实践,2008,(8)：66-68
[11]马佳.供应链金融融资模式分析及风险控制[D].天津大学,2008
[12]苏莹.交通银行供应链金融研究[D].合肥工业大学,2009
[13]李彤.深发展：供应链金融.商界(评论),2007,(10)
[14]张荣刚,梁琦.产业集群内中小企业融资环境实证分析.生产力研究,2007,(01)
[15]闫俊宏,许祥秦.基于供应链金融的中小企业融资模式分析.上海金融,2007,(02)
[16]杨宴忠.论商业银行供应链金融的风险防范.金融管理与研究,2007,(11)
[17]李娜.浅析商业银行在供应链贸易融资中的商机和风险防范.广西金融研究,2008,(03)
[18]刘长宏.关于创建中小企业“1+N”授信模式的研究.金融论坛,2008,(02)
[19]宋炳方.商业银行供应链融资业务.北京经济管理出版社,2008.131-145
[20]冯瑶.供应链金融：实现多方共赢的金融创新服务.新金融,2008,(02)
[21]深圳发展银行-中欧国际工商学院“供应链金融”课题组.供应链金融-新经济下的新金融.上海远东出版社,2009
[22]才金卉.商业银行国际贸易融资业务风险及对策.沈阳大学学报,2008,(05)
[23]何自力.授信额度核定的逻辑：一个共生理论的视角.金融论坛,2007,(01)
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