考慮提前支付的供應(yīng)鏈成員內(nèi)部融資策略研究
發(fā)布時(shí)間:2018-09-03 14:32
【摘要】:資金約束會(huì)影響供應(yīng)鏈各成員企業(yè)及系統(tǒng)的盈利能力與競爭力,而供應(yīng)鏈成員內(nèi)部融資作為一種緩解成員企業(yè)資金壓力的有效手段在實(shí)踐中已得到了廣泛的應(yīng)用。通過供應(yīng)鏈成員內(nèi)部融資,資金充足的成員企業(yè)通過提前付款或延期付款的方式幫助資金約束的成員企業(yè)緩解資金問題。相對于依賴銀行的外部融資,供應(yīng)鏈成員內(nèi)部融資不需要額外的固定資產(chǎn)作為抵押,并且供應(yīng)鏈中作為提供融資的一方企業(yè)更了解融資企業(yè)生產(chǎn)成本、市場需求、信譽(yù)等各方面的信息,融資風(fēng)險(xiǎn)較好控制。本文從供應(yīng)鏈內(nèi)部融資的角度研究資金約束的供應(yīng)商設(shè)計(jì)一定的預(yù)訂價(jià)格折扣,吸引零售商提前訂購部分產(chǎn)品并提前支付貨款,從而緩解自身資金壓力的問題。本文的主要研究內(nèi)容包括以下三個(gè)方面:(1)介紹供應(yīng)鏈融資的理論基礎(chǔ)交易信用理論,分析供應(yīng)鏈內(nèi)外部融資的模式,總結(jié)供應(yīng)鏈內(nèi)部融資的優(yōu)勢。分析現(xiàn)有文獻(xiàn)對于供應(yīng)鏈融資問題的研究,在此基礎(chǔ)上找到本文研究的切入點(diǎn)。(2)對面向單一供應(yīng)商的零售商提前付款融資模式進(jìn)行分析。研究不同價(jià)格折扣下零售商的最優(yōu)提前付款決策和供應(yīng)商的最優(yōu)生產(chǎn)決策;進(jìn)一步分析得出價(jià)格折扣一定,供應(yīng)商不同資金水平下的最優(yōu)提前付款額和最優(yōu)生產(chǎn)量,以及供應(yīng)商不同資金水平對供應(yīng)鏈整體績效的影響。(3)考慮多供應(yīng)商的情況,即資金約束的供應(yīng)商存在替代競爭者,不同價(jià)格折扣以及不同資金水平下零售商的最優(yōu)提前付款決策和供應(yīng)商的最優(yōu)生產(chǎn)決策,并與單供應(yīng)商的最優(yōu)決策進(jìn)行比較,分析得出替代競爭者的存在對于供應(yīng)鏈內(nèi)部融資的影響。最后通過企業(yè)應(yīng)用分析,驗(yàn)證前文結(jié)論的合理性和可行性,為中小企業(yè)融資提供參照。
[Abstract]:Capital constraints will affect the profitability and competitiveness of supply chain member enterprises and systems. As an effective means to alleviate the financial pressure of supply chain members, the internal financing of supply chain members has been widely used in practice. Through the internal financing of supply chain members, the well-funded member enterprises can help the member enterprises with capital constraints to alleviate the financial problems by the way of early payment or deferred payment. Compared with external financing by banks, internal financing of supply chain members does not require additional fixed assets as collateral, and enterprises in the supply chain as a party to provide financing have a better understanding of the production costs and market requirements of financing enterprises. Credibility and other aspects of information, financing risk better control. In this paper, from the point of view of financing in the supply chain, we study the problem that the suppliers with capital constraints design a certain discount of reservation price, so as to attract retailers to order some products in advance and pay for the goods in advance, so as to alleviate the pressure of their own capital. The main contents of this paper include the following three aspects: (1) introduce the theoretical basis of supply chain financing transaction credit theory, analyze the supply chain internal and external financing mode, summarize the advantages of supply chain internal financing. On the basis of analyzing the existing literature on supply chain financing, we find the breakthrough point of this paper. (2) analyze the financing mode of retailer's advance payment for a single supplier. This paper studies the optimal early payment decision of retailers and the optimal production decision of suppliers under different price discounts, and further analyses the optimal amount of early payment and optimal production under certain price discounts and different funding levels of suppliers. And the impact of different funding levels of suppliers on the overall performance of the supply chain. (3) considering the situation of multiple suppliers, that is, suppliers with financial constraints have alternative competitors, Under different price discounts and different funding levels, the retailer's optimal early payment decision and the supplier's optimal production decision are compared with the single supplier's optimal decision. The influence of substitute competitors on internal financing of supply chain is analyzed. Finally, the rationality and feasibility of the above conclusions are verified by enterprise application analysis, which provides a reference for SME financing.
【學(xué)位授予單位】:東北大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2014
【分類號(hào)】:F274;F275
[Abstract]:Capital constraints will affect the profitability and competitiveness of supply chain member enterprises and systems. As an effective means to alleviate the financial pressure of supply chain members, the internal financing of supply chain members has been widely used in practice. Through the internal financing of supply chain members, the well-funded member enterprises can help the member enterprises with capital constraints to alleviate the financial problems by the way of early payment or deferred payment. Compared with external financing by banks, internal financing of supply chain members does not require additional fixed assets as collateral, and enterprises in the supply chain as a party to provide financing have a better understanding of the production costs and market requirements of financing enterprises. Credibility and other aspects of information, financing risk better control. In this paper, from the point of view of financing in the supply chain, we study the problem that the suppliers with capital constraints design a certain discount of reservation price, so as to attract retailers to order some products in advance and pay for the goods in advance, so as to alleviate the pressure of their own capital. The main contents of this paper include the following three aspects: (1) introduce the theoretical basis of supply chain financing transaction credit theory, analyze the supply chain internal and external financing mode, summarize the advantages of supply chain internal financing. On the basis of analyzing the existing literature on supply chain financing, we find the breakthrough point of this paper. (2) analyze the financing mode of retailer's advance payment for a single supplier. This paper studies the optimal early payment decision of retailers and the optimal production decision of suppliers under different price discounts, and further analyses the optimal amount of early payment and optimal production under certain price discounts and different funding levels of suppliers. And the impact of different funding levels of suppliers on the overall performance of the supply chain. (3) considering the situation of multiple suppliers, that is, suppliers with financial constraints have alternative competitors, Under different price discounts and different funding levels, the retailer's optimal early payment decision and the supplier's optimal production decision are compared with the single supplier's optimal decision. The influence of substitute competitors on internal financing of supply chain is analyzed. Finally, the rationality and feasibility of the above conclusions are verified by enterprise application analysis, which provides a reference for SME financing.
【學(xué)位授予單位】:東北大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2014
【分類號(hào)】:F274;F275
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