资金约束下不同供应链融资渠道的订货决策分析

发布时间：2018-08-02 07:33

【摘要】：随着近年来经济与社会的迅猛发展,竞争的模式由企业与企业之间竞争逐渐开始转化为由企业上下游之间组成的供应链系统之间的竞争。供应链中存在着非常多的中小节点企业,这些中小企业常常受到资金约束的制约。尤其是处于供应链下游的中小零售商,经常由于资金不足无法按照市场需求实现最优的订货量,损害零售商的收益,严重时甚至损害供应链整体绩效。资金约束对企业的运营和决策都有着重要的影响。通过现有的理论研究可以发现,供应链中的中小零售商在面对资金约束的限制时,主要有三种选择方式：无供应链融资、供应链内部融资和供应链预付账款融资,这三种方式都会影响到企业的资金状况以及企业的收益,进而影响到供应链整体收益,现实中企业的运作也是如此。但是,目前综合研究这三种方式对供应链成员最优订货决策以及供应链整体收益影响的成果不多。基于此背景,本文探讨由单一制造商和单一零售商组成的二级供应链,从供应链中小零售商面临资金约束入手,分析现有的供应链融资渠道,并且重点介绍适用于中小零售商的供应链预付账款融资模式。本文构建三种不同方式下的供应链收益模型,基于供应链整体角度,进行最优订货量决策分析,并讨论出使供应链整体收益最大化的融资方式。最后,对三种融资方式的收益模型进行数值分析,得出不同融资渠道下的最优订货量,计算出不同融资渠道下供应链整体收益,并给出不同情况下应选择何种融资渠道以使供应链整体收益最大化。案例分析的结果验证了模型的结论。论文研究结果表明：当零售商面对资金约束时,无论是供应链内部融资的、还是供应链预付账款融资的订货决策,都可为整个供应链创造出新的价值：在不考虑制造商商业信用额度限制的情况下,供应链内部融资的最优订货决策优于供应链预付账款融资的最优订货决策；但是,由于供应链内部融资本身具有一定的局限性,它只能在一定范围内存在,在制造商给予的商业信用额度小于某一临界值时,供应链预付账款融资的最优订货决策优于供应链内部融资的最优订货决策,现实经济环境中这种情况是普遍存在的。本文为资金约束下供应链的订货决策问题,提供了可行的方案,为企业决策者提供定量化的决策支持。
[Abstract]:With the rapid development of economy and society in recent years, the mode of competition has gradually changed from competition between enterprises to competition between supply chain systems composed of upstream and downstream enterprises. There are many small and medium-sized enterprises in the supply chain, which are often restricted by financial constraints. Especially the small and medium-sized retailers in the downstream of the supply chain are often unable to achieve the optimal order quantity according to the market demand due to lack of funds which damages the retailer's income and even the overall performance of the supply chain. Capital constraints have an important impact on the operation and decision-making of enterprises. Through the existing theoretical research, it can be found that there are three main options for small and medium-sized retailers in the supply chain: no supply chain financing, supply chain internal financing and supply chain prepayment financing, when facing the limitation of capital constraints, there are three main options: no supply chain financing, supply chain internal financing and supply chain prepayment financing. These three ways will affect the financial situation of the enterprise and the income of the enterprise, and then affect the overall income of the supply chain. In reality, the operation of the enterprise is the same. However, at present, the results of comprehensive study on the influence of these three methods on the optimal ordering decision of supply chain members and the overall income of supply chain are few. Based on this background, this paper discusses the secondary supply chain which consists of a single manufacturer and a single retailer. Starting with the financial constraints faced by small retailers in the supply chain, this paper analyzes the existing supply chain financing channels. It also focuses on the supply chain prepayment financing model for small and medium retailers. In this paper, three different supply chain revenue models are constructed, based on the supply chain overall perspective, the optimal order quantity decision analysis is carried out, and the financing method to maximize the supply chain overall income is discussed. Finally, through the numerical analysis of three kinds of revenue models, the optimal order quantity under different financing channels is obtained, and the overall income of supply chain under different financing channels is calculated. What financing channels should be chosen under different circumstances to maximize the overall revenue of the supply chain is also given. The result of case analysis verifies the conclusion of the model. The results show that: when retailers face financial constraints, whether it is the supply chain internal financing, or the supply chain pre-payment financing order decision. Both can create new value for the whole supply chain: the optimal order decision for financing within the supply chain is superior to the optimal order decision for pre-payment financing in the supply chain without taking into account the manufacturer's commercial credit limit; however, Because the internal financing of the supply chain has its own limitations, it can only exist in a certain range, when the commercial credit line given by the manufacturer is less than a certain critical value, The optimal ordering decision of prepayment financing in supply chain is better than the optimal order decision in supply chain internal financing. This kind of situation is common in the real economic environment. This paper provides a feasible scheme for ordering decision of supply chain under financial constraints, and provides quantitative decision support for enterprise decision makers.
【学位授予单位】：东北大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F274;F832.4

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