订单融资下看涨期权契约的供应链协调研究

发布时间：2018-03-16 22:42

本文选题：供应链协调　切入点：看涨期权契约　出处：《天津大学》2016年硕士论文　论文类型：学位论文

【摘要】：随着客户的需求要素成为供应链决策中主要考虑因素,零售商占主导的二级供应链协调问题逐渐受到研究者的重视。另外,随着中小企业融资难、融资贵的问题不断升级,有关资金约束型供应链的研究也被学术界重视。因此解决零售商占主导,供应商初始资金有限的二级供应链的协调问题就显得尤为重要。本文以资金约束型供应链的协调问题作为研究目标,拟研究以下三方面问题:1.供应链在何种状态下通过何种方式可实现协调。2.在供应链协调状态时,供应链总利润如何在合作双方中进行分配,其分配规律如何。3.供应商的初始资金对模型的协调以及利润的分配有何影响,其运作规律如何。本文通过订单融资下看涨期权契约模型来研究零售商占主导供应商初始资金有限的二级供应链的协调问题。在确定供应商的最优决策时,发现其决策函数是分段函数,故针对不同的区间分别建立“订单协调模式一”与“订单协调模式二”,得到如下结论:对于“订单协调模式一”,该协调模式能够协调所有类型的供应链。随着期权执行价的单调增加,零售商所分配到的利润单调下降,供应商所分配到的利润单调增加。供应商初始资金越大则可选择的协调方案就越多,供应商可分配到的最大利润随之增多,零售商可获得的最小利润随之减少。对于“订单协调模式二”,该协调模式只能协调有资金约束的供应链。随着期权执行价的单调增加,零售商所分配到的利润单调下降,供应商所分配到的利润单调增加。当供应商初始资金大于某一临界值时,随着初始资金的增多,可供选择的协调方案就越少,供应商可分配到的最小利润随之增多,零售商可分配到的最大利润随之减少。最后本文通过MATLAB对模型进行量化模拟分析,证实了理论证明的正确性。本文的研究发现对实际决策具有参考意义。
[Abstract]:As customer demand factors become the main consideration in supply chain decision, the problem of secondary supply chain coordination, which is dominated by retailers, has been paid more and more attention by researchers. In addition, with the difficulty of financing for small and medium-sized enterprises, the problem of expensive financing continues to escalate. The research on the capital constrained supply chain has also been paid attention to by the academic community. The coordination problem of the two-level supply chain with limited initial capital is particularly important. This paper intends to study the following three aspects: 1. How can the supply chain coordinate under what conditions. 2. How to distribute the total profits of the supply chain between the two partners in the supply chain coordination. How about its distribution law. 3. How does the initial capital of the supplier affect the coordination of the model and the distribution of profits, In this paper, we study the coordination of secondary supply chain in which retailers have limited initial capital by using call options contract model under order financing. When we determine the optimal decision of suppliers, It is found that its decision function is a piecewise function, Therefore, "order coordination mode I" and "order coordination mode II" are established for different intervals, and the conclusion is as follows: for "order coordination mode one", the coordination mode can coordinate all types of supply chain. The monotonous increase in the executive price, The profit of the retailer decreases monotonously, the profit of the supplier increases monotonously. The larger the initial capital of the supplier, the more the coordination scheme can be chosen, and the more the maximum profit that the supplier can distribute, the more the maximum profit can be allocated to the supplier. For order coordination mode 2, this coordination mode can only coordinate the supply chain with financial constraints. With the monotonous increase of option execution price, the profit allocated by the retailer decreases monotonously. When the initial capital of the supplier is greater than a certain critical value, with the increase of the initial fund, there are fewer coordination schemes available, and the minimum profit that the supplier can distribute increases. The maximum profit that retailers can allocate is reduced. Finally, the quantitative simulation analysis of the model is carried out by MATLAB, which proves the correctness of the theoretical proof. The findings of this paper have reference significance for practical decision making.
【学位授予单位】：天津大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F274;F724.5

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