The Study On Coordination Optimization Of Reverse Leading Supply Chain Based On The Supply Chain Finance

The famous American economist Christopher had ever said:"There’s onlysupply chain and there’s no enterprise in the market. The true competition exists insupply chains instead of enterprises."With the improvement of economy in thecountry and constant optimal adjustment of industrial structure, supply chaincollaborative optimization gradually attracts the attention of many people. At thesame time, the increasing fierce marketing competition and vertiginous marketenvironment make the terminal company closer to market and easier to get thedemand information of consumers dominate the whole supply chain. In last few years,Gome, Suning, Wal-mart and some e-commerce platforms such as the rise ofJingdong Mall are typical examples. These terminal enterprises dominant the supplychain due to their powerful logistic distribution systems and the first-class informationcommunication systems, and this kind of supply chain named reverse leading supplychain is quite different from the traditional supply chain in which manufacturersoccupy the core position. This dissertation studies coordination optimization ofreverse leading supply chain.MSE(medium-sized enterprises) contribute to the development of nationaleconomy, but their difficulties in loan have become key problems that can weakentheir development. In recent years, supply chain finance emergence not only is theprogress of China’s banking industry, but also provides a good opportunity to solvethe problem of loan difficulties of MSE. Except from promoting the integration ofsupply chain collaborative optimization, it can also effectively improve the efficiencyof funds, make supply chain more economical, enhance the competitiveness of supplychain.As to supply chain finance, we take reverse leading supply chain as the mainresearch object and study the funding decisions on coordinated optimization problemin a three-level supply chain including only one supplier and one manufacturer,oneretailer. In the coordination of manufacturer-retailer supply chain, how to maximizethe utilization efficiency of capital in supply chain is considered while avoid marketrisks by the option contract based on the newsboy model. And the result shows that the manufacturer would maintain its circulating fund at certain level to decrease thecost of financing, which would bring problems to the upstream supplier’s paymentcollection. As to supplier-manufacturer coordination, the manufacturer would conductthe problem about funds shortage to the supplier through accounts payable. Whichwould increase the supplier’s accounts receivable and make supplier face the problemof funds shortage in short term. What’s more, the accounts receivable financing isintroduced and loan-to-value ratio is calculated using FAHP model. And it iscompared with traditional loan-to-value ratio. The results testify that, the MSE inupstream can better solve the financial problem by accounts receivable financing withthe existence of core enterprise in supply chain.