供应链金融是随着“互联网+”战略的提出而发展起来的，供应链上下游企业逐 步从线下走向线上，逐步实现“品牌、商品、渠道、制造、营销、物流 、交易、 支付”等商业要素的在线化和数字化，客观上促进了供应链金融业务的快速发展。 供应链金融业务的核心商业模式就是将供应链的上下游企业、供应链平台、供应 链核 心企业以及物流企业等连接在一起，通过引入第三方融资平台或金融机构， 为供应链上下游的客户提供方便快捷的信贷金融服务的一种业务模式。该模式与 传统金融信贷业务相 比有着客户准入门槛低、业务流程简便、资金效率高、风险 和资金成本低等优势，在解决中小企业融资难、融资贵问题的同时也可以帮助外 部金融机构更快更高效的获取低风险 的信贷客户，是一种多赢的商业模式，有利 于供应链的长期稳定健康发展。供应链金融本身在融资风险控制、客户群体、信 息沉淀、资金闭环、还款方式上与传统金融有着本质 区别，对供应链产业平台、 供应链上下游企业、合作金融机构都有明显的产业价值。但目前我国的产业发展 态势并不好，业务增速慢、体量小、金融渗透率低的问题凸显，而且 行业覆盖面 也较窄。而新兴的互联网电商平台或者互联网科技企业正逐渐成长为供应链的核 心企业，该类公司有着天然的技术优势和互联网运营模式，如何充分利用其互联 网、 大数据、云计算等优势破局发展供应链金融业务将对解决整个供应链金融发 展以及中小微企业融资问题带来新的思路和价值。 本文先是通过分析研究供应链金融的相关理论，结 合互联网的特点、供应链 金融的业务模式、业务运营风险和当前国内典型供应链平台、金融机构供应链金 融业务的发展现状，对比当前国内互联网+供应链金融的几种商业模式， 进而提 出共性的问题和可行的优化策略；其次，通过对A公司互联网供应链金融业务的 发展现状、商业模式、产品设计、合作客户反馈等方面进行完整调研，从而指出 A公司当前 供应金融业务发展过程中存在的显著问题，包括集团公司内部缺乏统 一管理、基础设施重复建设，平台客户供应链金融产品使用转化率低、行业市场 覆盖面窄、产品体验差、支 用频次低等问题；再次，有针对性的分析A公司当前 问题的成因，并提出未来其互联网+供应链金融业务发展的优化策略和可落地可 执行的保障措施和整改建议。包括业务发展思 路调整、差异化产品研发、大数据 产品营销、大数据智能风控以及组织结构保障等。最后，对本文的研究观点进行 总结，明确相关研究价值和推广局限。 本文以A互联网平台公 司的供应链金融业务实例作为研究对象，将互联网技 术手段赋能供应链金融业务的优化策略纳入研究范围，目的是为探索A公司业务 问题背后深层次的原因并找出行之有效的改善 方法，希望能够对与A公司一样面 3 临发展困境和问题的国内其他电商平台未来互联网+供应链金融业务的发展规划 起到借鉴作用。 关键词：互联网；供应链金融；大数据；优化 策略； 4 Abstract Supply chain finance is put forward with "Internet +" strategy, supply chain upstream and downstream enterprises gradually from offline to online, and gradually achieve "brand, product, channel, manufacturing, marketing, logistics, trading, payment" business elements such as online and digital, objectively promoted the rapid development of supply chain finance business. The core business model of supply chain finance is a financing model that connects the upstream and downstream enterprises of the supply chain, the supply chain platform, the core enterprises of the supply chain and the logistics enterprises together, and provides customers on the supply chain platform with low threshold and flexible financial products and services by introducing external financial institutions. The model compared with the traditional credit business with low barriers to entry, customer business process is simple, capital of high efficiency, low risk and cost of capital advantage, in solving the financing difficulties of small and medium- sized enterprises, financing at the same time can also help your problem faster and more efficient access to external financial institutions low-risk credit customers, is a win-win business model, and is conducive to long-term, stable and healthy development of the supply chain. Supply chain finance itself is fundamentally different from traditional finance in financing risk control, customer group, information precipitation, capital closed-loop and repayment mode, which has obvious industrial value for supply chain industrial platform, upstream and downstream enterprises of the supply chain and cooperative financial institutions. However, the current industrial development trend in China is not good. The problems of slow business growth, small size and low financial penetration are prominent. Moreover, the coverage of the industry is also narrow. First in this paper, through the analysis and research of supply chain finance related theory, combined with the characteristics of the Internet, supply chain finance business model, business operational risk, and the current domestic typical supply chain platform, financial institutions, financial supply chain business development present situation, comparing several current domestic Internet + financial supply chain business model, and then put forward the common problems and feasible optimization strategy; Secondly, through the Internet A company supply chain finance business development present situation, business model, product design, such as partners for A complete analysis, and points out that A company's current supply significant problems 5 of the development of financial business, including group co., LTD. The lack of unified management and deployment, infrastructure redundant construction, customer supply chain finance business problems such as low conversion rate, industry market coverage narrow; Thirdly, based on the above problems, the optimization strategy of company A's future Internet + supply chain finance business development was explored and studied, and the feasible guarantee measures and rectification Suggestions were put forward, including business development idea adjustment, differentiated product research and development, product marketing strategy upgrade, and organizational structure guarantee. Finally, this paper summarizes the research points of view, and makes clear the research value and promotion limitations. Based on the Internet from A company as the research object, supply chain finance business instances will be Internet + optimization strategy of supply chain finance business into the research scope, the aim is to explore the deep reasons behind A company business problems and find out effective method to improve, and as A company to face A dilemma and problems of other domestic electric business platform for the future Internet + be used for reference in the development of supply chain finance business planning. Key words: Internet; Supply chain finance; Big data; Optimization strategy; I 目 录 1. 绪论 . 1 1.1 研究的背景和意义 ... 1 1.1.1 研究背景 ........... 1 1.1.2 研究意义 ........... 3 1.2 研究现状 .............................. 7 1.2.1 国外研究现状 ... 7 1.2.2 国内研究现状 ... 9 1.2.3 文 献评述 ......... 10 1.3 本文的研究思路和方法 ........................ 11 1.3.1 研究思路 ......... 11 1.3.2 研究方法 ......... 11 2. 互联网+供应链金融理论概述 ................... 12 2.1 什么是供应链金融 . 12 2.2 互联网+供应链金融理论 ..................... 12 2.2.1 自偿性融资理论 ............................ 13 2.2.2 信息不对称理论 ............................ 13 2.2.3 平台金融理论 . 14 2.2.4 客户需求理论 . 14 2.3 互联网+供应链金融的业务运营风险 14 2.3.1 互联网+供应 链金融的市场风险 .. 15 2.3.2 互联网+供应链金融的产业风险 .. 15 2.3.3 互联网+供应链上下游企业信用风险 ......................... 15 2.3.4 互联网+供应链金融的操 作风险 .. 16 2.3.5 互联网+供应链金融的技术风险 .. 16 2.3.6 互联网+供应链金融的监管风险 .. 16 2.4 互联网供应链平台业务优化策略及对比 ........................... 16 3. A公司互联网+供应链金融业务现状及问题 ........................... 22 3.1 A公司简介 ............. 22 3.2 A公司互联网+供应链金 融业务现状 .. 23 3.2.1 运用大数据完善客户画像 ............ 23 3.2.2 客户信用评级 . 24 3.2.3 打造供应链贷款流水线 ................ 25 II 3.3 A公司供应链金融业 务发展存在的问题 ........................... 26 3.3.1 供应链金融业务缺乏统一管理 .... 26 3.3.2 基础设施资源浪费 ........................ 27 3