With the rapid development of the Internet, economic and financial development has also been driven. In recent years, the rise of e‐commerce is obvious to all, and the operation mode of supply chain finance also plays a key role in the rise of e‐commerce. With Internet finance, supply chain plays a role. The supply chain is still in the development stage. Taking JD.COM as a specific case, JD.COM, as the upstream and downstream of Unicom's industrial chain, not only effectively reduced the cost of the whole industrial chain, but also met the consumer demand, stimulated the market and effectively improved the financing efficiency of small and medium‐sized enterprises, and rationally used the advantages of supply chain finance to seize opportunities, thus achieving great success in recent years. While applying supply chain finance to achieve win‐win results in many aspects, JD.COM is also faced with industry competition and certain supply chain financing risks. Based on the analysis of the actual case of JD.COM, it is suggested to invest in technology development, improve the construction of credit system and policy system, and reasonably avoid platform risks and industry risks.