Evaluation And Simulation Optimization Of Dairy Distributor Pool Factoring Financing Mode

Our country has made remarkable achievement in dairy industry development: well managed of dairy processing enterprises,important position in the world,and growth of dairy products import and export trade.Due to different kinds of brands and serious homogeneity of dairy products,the competition in dairy industry becomes fiercer than before.The marketing efficiency of dairy distributor becomes the important factor of influencing market competitive advantage.As the core of dairy products' sales chain,dairy distributor plays an important role in constructing regional sale network,feed-backing demand information of regional market,and adding value of dairy supply chain.During the process of dairy distributor operation,capital expense and income occur at different time,which brings the issue of capital shortage.Fortunately,supply chain finance business provides effective ways for resolving this problem.The research of this dissertation is divided into three parts which includes: Firstly,summarize literature and monograph of supply chain finance,establish the research direction and emphasis of this dissertation.Secondly,make questionnaire survey upon dairy distributors,the collected data is the basis for the analysis of structural equation modeling(SEM)of supply chain financing modes evaluation of dairy distributor.Thirdly,participate in the business practice of Firmus distributor Company A,and further collect the information of cooperative retailers,operation process,and operation state.On the basis of collected information,this dissertation builds the System Dynamics model of dairy distributor pool factoring.Following above three researching stages,we come to conclusions below:(1)This dissertation uses SEM to evaluate the supply chain financing modes of dairy distributor,and finds that pool factoring mode makes dairy distributor obtain fund support easier than others in 5 feasible supply chain financing modes from financial institutions.The reasons are shown below:The influence degree of accounts receivable on supply chain financing ability is higher than inventory does,the standardized total effect of accounts receivable is 0.314,higher than the standardized total effect of inventory 0.205;The influence degree of downstream cooperation factor on supply chain financing ability is higher than upstream cooperation does.The standardized total effect of downstream cooperation is 0.467,higher than the standardized total effect of upstream cooperation 0.326.(2)In the System Dynamics model of dairy distributor pool factoring,this dissertation uses joint multi-parameter simulation optimization,and finds that credit sale proportion and accounts receivable turnover period are key indictors in evaluating dairy distributor's pool factoring ability.Credit sale proportion is more important than accounts receivable in evaluating dairy distributor's pool factoring ability.In other words,when we increase credit sale proportion and accounts receivable turnover period at the same percentage,credit sale proportion brings more accounts receivable in pool than accounts receivable turnover period does,and the financing ability of dairy distributor's pool factoring enhances more.(3)In the System Dynamics model of dairy distributor pool factoring,this dissertation uses joint multi-parameter simulation optimization,and finds that we should use alternant optimization strategy between credit sale proportion and sales expense rate to keep the best repayment ability in different stages.For the dairy distributor with the initial values of 0.797(credit sale proportion)and 0.101(sales expense rate),we should alter the values of credit sale proportion and sales expense rate as sequence below: sales expense rate[0.07575,0.101],credit sale proportion[0.59775,0.797],sales expense rate [0.02525,0.07575),credit sale proportion[0.19925,0.59775)?By analyzing the existed thesis,the innovations of this dissertation are shown as below:(1)This dissertation innovatively builds evaluation model of dairy distributor supply chain financing modes bases on crediting assets and correlated organizations cooperation,and provide scientific evidence for dairy supply chain financing modes decision-making of dairy distributor,and fills up the research gap of supply chain financing modes evaluation.This dissertation builds evaluation model of dairy distributor supply chain financing modes on the basis of crediting assets and correlated organization cooperation,compares different crediting assets and correlated organization cooperation influence degree upon dairy distributor supply chain financing ability by developing scale and SEM test.The conclusions provide scientific evidence for dairy distributor decisions,and prove that pool factoring is more feasible to dairy distributor than the other four supply chain financing modes.(2)This dissertation firstly uses System Dynamics to build dairy distributor pool factoring model.To be specific,this dissertation uses Rate-variable Fundamental In-tree modeling approach to build System Dynamics model of dairy distributor pool factoring financing mode,and passes through principal vector ring analysis and kinds of model tests.This dissertation builds eight Rate-variable Fundamental In-tree models,and builds the integrated SD model of pool factoring mode through nested operation.The SD model well depicts the operation process of dairy distributor and the loan management process of financial organization.We could analyze the one way variable change and two way variable changes through this model,and analyze dynamic balance process of multi-variable with constraint conditions.This SD model provides decision-making support for pool factoring of financial organization and operation management of dairy distributor.(3)This dissertation initiatively integrally raises multi-sensitive parameters joint simulation optimization in the System Dynamics model,takes mutual influence of sensitive parameters into account,rectifies the deficiency of single sensitve parameter simulation optimization,.Multi-sensitive parameters joint simulation optimization could help decision-maker takes coordination of sole policy into account,and makes comprehensive policy.Through multi-sensitive parameters joint simulation optimization,this dissertation gets two important conclusions of dairy distributor: pool factoring financing ability optimization policy and repaying ability optimization policy.During the researching process of using multi-sensitive parameters joint simulation optimization,finds that if there were “Constraint-Dominant” relationship among the sensitive parameters,the dominant sensitive parameter optimization imposes “Crowding-out Effect” on the constraint sensitive parameter optimization.