Economic supply chain management of advanced manufacturing industry based on blockchain technology

Abstract

AbstractAdvanced manufacturing industry is the core of modern manufacturing industry, which is related to the overall situation of the whole national economic and social development. This study mainly discusses the advanced manufacturing economic supply chain management under the blockchain (BC) technology. The smart contract function in the BC will strengthen the execution of credit agreements between enterprises. In the application scenario of smart contract, as long as one party performs its economic activities, the system will force the other party to perform the contract directly, which improves the credibility of all parties in the chain and reduces the risk of default. To avoid false trade, commercial factoring risk management, one is to establish a cooperative relationship with banks. The second is to issue asset securitization products. Third, cooperate with internet financial platform. In 2018, under the background of slower growth in operating income, the balance of accounts receivable of enterprises fell more, and 2019 performance it began to pick up, and the substantial increase in operating income has also brought about a substantial increase in accounts receivable. Since then, operating income has maintained a rapid growth rate, but the balance of accounts receivable has not increased significantly, but has decreased slightly. After the implementation of supply chain financing, the proportion of accounts receivable of B advanced manufacturing company in operating revenue has decreased from 23.17% in 2018 to 13.45% in 2020. The implementation of supply chain financing designed in this study helps advanced manufacturing companies to control the balance of accounts receivable.