预售融资模式下资金约束供应链的运营决策研究  

Research on Operation Decision for a Capital-constrained Supply Chain under Presale Financing Mode

作　　者：王志宏[1] 朱友琼 李悦[1] WANG Zhihong;ZHU Youqiong;LI Yue(Glorious Sun School of Business and Management,Donghua University,Shanghai 200051,China)

机构地区：[1]东华大学旭日工商管理学院,上海200051

出　　处：《物流科技》2023年第5期123-128,共6页Logistics Sci-Tech

基　　金：上海市哲学社会科学规划课题项目(2017BGL014);中央高校基本科研业务费专项资金项目(2232020B-04、2232018H-07)。

摘　　要：预售融资可以有效缓解制造商的资金约束问题,进而保证整个供应链的正常运作。文章考虑一个资金约束制造商和两个零售商所组成的供应链,研究预售融资模式下供应链的运营决策问题,探讨预售融资的价值。研究表明:预售融资可以有效提高资金约束制造商的产能水平,并且使零售商为其分担一部分库存风险;制造商的最优生产量和零售商的最优预购量受到制造商的自有资金水平、价格折扣和参与预售的零售商的市场占有率等参数的影响。此外,对两个零售商来说,参与预售的零售商对不参与预售的零售商的正或负影响非常依赖制造商自有资金大小。Presale financing can effectively alleviate the fund constraints of manufacturers and ensure the normal operation of the whole supply chain. Based on the above background, we consider a supply chain consisting of a capital-constrained manufacturer and two retailers, and explore the supply chain’s operation decisions under presale financing, and discuss the value of presale financing. The research shows that presale financing can effectively increase the production capacity of capital-constrained manufacturers and enable retailers to share part of the inventory risk. The manufacturer’s optimal production and the retailer’s optimal pre-order quantity are affected by the manufacturer’s own capital level, price discount and the market share of the retailer participating in the presale. Moreover, depending on the manufacturer’s own capital level, the retailer not involved in presale will be affected positively(negatively) by the retailer involved in presale.

关 键 词：供应链 资金约束制造商 预售融资 

分 类 号：F273.7[经济管理—企业管理]