Exploring the innovative side of supply chain 5.0 - a human-centric, sustainable, resilient, value-oriented supply chain finance model for MSMEs in China

Since 2018, a series of global disruptions-the US-China trade war, the COVID-19 pandemic, the Russian-Ukrainian war, and the Israeli-Palestinian conflict-have eroded global economic stability, leading to heightened uncertainty. The world now faces challenges such as high inflation accompanied by staggered deflation, prolonged interest rate hikes, geopolitical conflicts, the devastation of wars, energy and food crises, economic restructuring, and volatile currency fluctuations. These factors led to chaotic and significant supply chain disruptions, further destabilised by structural shifts in global logistics, escalating tariffs, and technological conflicts such as the 'chip war.' These instabilities have directly stunted economic growth and unbalanced the international landscape. The current global environment presents unprecedented challenges for businesses, policymakers, and individuals. Amid these challenges, there is an urgent need for a technology-driven, finance-empowered, and value-oriented approach to supply chain development, aligned with the principles of a human-centric, sustainable, and resilient Supply Chain 5.0. Through a qualitative exploratory study involving field investigations and interviews with industry experts, corporate executives, and academics, two key conceptualisations were developed: an innovative supply chain finance model that underpins the creation of resilient and sustainable supply chains, which is essential for advancing digital innovation in supply chain finance, and a novel approach to FinTech driven, human-centric supply chain finance. Additionally, the study introduced a hypothetical construct of a human-centric and value chain-oriented Supply Chain 5.0 ecosystem. These models and their associated theoretical concepts provide a new perspective on the innovative digital transformation required to achieve and realise a sustainable Supply Chain 5.0. This study provides valuable insights for practical implementation and future academic research, establishing a foundation for the further exploration of technologies, systems, and the global applicability of Supply Chain 5.0 and the new-generation supply chain finance that underpins it, thereby addressing both practical implementation and theoretical advancement in the field.