Decision Of Ordering And Financing Strategies For Retailers And The Study Of Logistics Business Credit Under Capital Constrained

Currently, the inventory financing mode which is based on the regulatory commission can remit difficult problem that supply chain downstream retailers under the constraint of a procurement funds financing. However, in recent years, the frequent events of supply chain finance risk decrease the size of the business model. For example, some sell seconds at the best quality prices, such as wool instead of cashmere, brick instead of color TV, and steel trade industry repeat pledge in eastern China. In this model, the ownership of cargo belongs to borrowing venture, and 3PL’ responsibility is supervising where the cargo to go. Bank, as the main body bear risk, will take some risks when the borrowing venture break a contract,because it is difficult to liquidate cargo. Then, is there a model can solve this problem? The answer is unified credit model. Not only this financing mode can solve shopkeeper’s financing problem, but also the bank can transfer lending risk to logistics enterprise. Due to more fully information of supply chain the logistics enterprise grasping than bank.,this mode is able to bring more logistics service revenue and huge financing income probably.Based on the above background, sales contraposing retailers has characteristic that Short sales cycle, Sales prices are relatively constant and uncertainty needs of the market. In researching single cycle and secondary supply chain system composed by single manufacturer and single retailer, we find that there is Stackelberg game between shopkeeper and manufacturers.We research financing decisions and logistics enterprises by building expected revenue models when retailers are constrained by purchase capital and facing stochastic market demand.. In particular, this paper study the following question:1. For choosing a more suitable financing models, compare the total profits of banks and logistics companies and financing costs for retailers under regulatory supervision with unified credit comparison; 2, under the unified credit model, analyze retailer’s optimal ordering and financing decisions when funding constraint retailers are in the initial own funds at different levels; 3, in the unified credit mode, study the logistics companies credit decisions when retailers choose financing. Logistics companies give or not the retailer credit when the retailers select to be a borrower.Through these studies, draw the following conclusions:1, from the supply chain perspective, the unified credit model is more suitable for solving the problem of retailers bound by the procurement funds. Compared with the delegate regulatory approach, when the cost of financing are the same for retailers, gross profit of banks and logistic enterprises is larger under the unified credit model when the cost of financing is the same for retailers; under regulatory commission mode, higher financing cost is higher for retailers.2, under the unified credit mode, optimal procurement and financing decisions are different when the retailer’s initial own funds are constraint and at different levels. When the retailer’s own funds are sufficient to cover the initial selection of the optimal financing procurement consuming, retailers will not take financing strategy, and Optimal purchases only depend on the initial own funds; when retailer’s initial own capital is insufficient to pay the optimal procurement costs, retailers will adopt financing strategies. Optimal purchases are due to maximize profits.3, under the unified credit mode, logistics enterprise’s credit decision is update to comparison the relative size of the logistics enterprises and logistics service principal, interest costs of financing and logistics companies expected sales, revenue of more than three residual value of the goods in the sales end of the period. At the end of the sales period,when retailer’s revenue of sales and the residual value of the goods can not cover the cost of financing costs and logistics services logistics enterprises, logistics enterprises should not provide financing services to retailers; When the sales revenue and the goods residual can cover the cost of financing the cost of logistics enterprises and logistics services, but they are not sufficient to cover the logistics’expected income, logistics companies can operate according to their own circumstances, to choose whether to provide financing services for retailers;When sales revenue and the goods’residual value can cover the expected income of logistics enterprises, logistics enterprises should provide financing services to retailers. In addition, by requiring retailers to increase the amount of initial capital and improving their products in the market price of the remaining treatment, logistics companies can reduce their risk financing.