INNOVATIVE SUPPLY CHAIN FINANCING TO PROMOTE JEWELRY INDUSTRIAL TRANSFORMATION AND UPGRADING: A CASE STUDY ON THE HY JEWELRY COMPANY

Abstract

I entered the jewelry industry in 1994 and witnessed China's jewelry industry has been developing by leaps and bounds since the country's reform and opening up. Today, however, the jewelry market is facing increasingly fierce competition as it has gradually become saturated. As a result, it is urgent for jewelry companies to align their competition strategies and more importantly, to solve financing problems by expanding financing channels. Only in this way can they find policies and countermeasures to promote the sustainable development of the jewelry industry. While modern enterprises generally take supply chain finance into consideration when dealing with financing problems, this new financing method is not quite common in the jewelry industry. For this reason, there are currently few jewelry companies in the industry that can obtain financing through the supply chain finance method. Based on the relevant literature put forward by scholars in China and abroad, this paper presents an in-depth and comprehensive analysis of the characteristics of supply chain financing. At the same time, according to Porter（2012） Five Forces Model, this paper also analyzes the methods and solutions that HY jewelry Company adopts in formulating and implementing its competitive strategy for supply chain financing, with a view to promoting the healthy development of the jewelry industry.