Digitalization of Supply Chains: Innovative SME Financing Models in the Concrete Industry
Rong Hu
Pangu Cloud Chain (Tianjin) Digital Technology Co. Ltd., Tianjin, China
Ao Chen
Pangu Cloud Chain (Tianjin) Digital Technology Co. Ltd., Tianjin, China
Hao Qu
Pangu Cloud Chain (Tianjin) Digital Technology Co. Ltd., Tianjin, China
ABSTRACT:
This study examines the impact of supply chain digitalization on financing models for SMEs in the concrete industry. By integrating blockchain and Internet of Things (IoT) technologies, we developed a digital platform that enhances the transparency, efficiency, and accuracy of credit assessments. The findings reveal that digitalization facilitates access to financing for SMEs by leveraging real-time data for precise risk evaluations and customized financial solutions. The research highlights how digital platforms can transform traditional financing barriers, enabling SMEs to seize new opportunities and increase competitiveness in the market. Future research should focus on enhancing data security and extending the model to other sectors. This study contributes to understanding the transformative potential of digital technologies in SME financing.
Published in: International Journal of Research in Engineering, Science and Management (Volume 7, Issue 12, December 2024)
Page(s): 122-127
Date of Publication: 26/12/2024
Publisher: IJRESM
Cite as: Rong Hu, Ao Chen, Hao Qu, “Digitalization of Supply Chains: Innovative SME Financing Models in the Concrete Industry,” in International Journal of Research in Engineering, Science and Management, vol. 7, no. 12, pp. 122-127, December 2024.