{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,31]],"date-time":"2026-01-31T03:57:49Z","timestamp":1769831869266,"version":"3.49.0"},"reference-count":78,"publisher":"MDPI AG","issue":"6","license":[{"start":{"date-parts":[[2023,6,1]],"date-time":"2023-06-01T00:00:00Z","timestamp":1685577600000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"Incheon National University Research Grant"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Systems"],"abstract":"<jats:p>SCF (Supply Chain Finance), as an emerging technology-driven financial optimization approach, has grown quickly worldwide with the development of information technology. China is one noteworthy country influenced by SCF development; its traditional financial market structure dominated by banks is undergoing change. The E-commerce-centered SCF has evolved into the representative capital provider in the new financial \u201cBlue Ocean\u201d market. For capturing competitiveness, Chinese JD (Jingdong) SCF practice backed to JD E-commerce is a typical example involving business model innovations, but with few previous related studies on this aspect. Therefore, to fill the research gap, this paper introduces a hybrid theoretical analysis of the BMC (Business Model Canvas) considering a three-layer strategic innovation structure and financial analysis regarding a modified competitive advantages-gaining model to comprehensively explore the recent innovative development and transformation of JD SCF business based on the perspective of competitive advantages. This study identifies JD SCF\u2019s two times of business model innovations that benefit from its sustainable development; verifies that \u201ccost\u201d, \u201cdifferentiation\u201d, and \u201cfocused strategy\u201d are three means for JD SCF practice gaining competitiveness at different development stages and simultaneously emphasizes that the latter two are influenced by business model innovation. The mixed analysis work in this paper may contribute both theoretical and practical implications.<\/jats:p>","DOI":"10.3390\/systems11060278","type":"journal-article","created":{"date-parts":[[2023,6,1]],"date-time":"2023-06-01T02:12:45Z","timestamp":1685585565000},"page":"278","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":7,"title":["Supply Chain Finance Business Model Innovation: Case Study on a Chinese E-Commerce-Centered SCF Adopter"],"prefix":"10.3390","volume":"11","author":[{"given":"Lele","family":"Zhou","sequence":"first","affiliation":[{"name":"Graduate School of Logistics, Incheon National University, Incheon 22012, Republic of Korea"}]},{"given":"Hyangsook","family":"Lee","sequence":"additional","affiliation":[{"name":"Graduate School of Logistics, Incheon National University, Incheon 22012, Republic of Korea"}]}],"member":"1968","published-online":{"date-parts":[[2023,6,1]]},"reference":[{"key":"ref_1","first-page":"3653","article-title":"Research on the Design of Supply Chain Financial Ecology Model and Risk Management","volume":"28","author":"Shen","year":"2019","journal-title":"Ekoloji"},{"key":"ref_2","unstructured":"Cronie, G., and Sales, H. 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