Financing Research Of Retailers Short-term Delayed Payment Based On Multi-suppliers’ Choice

As one of the important resources of the operation enterprises, funds is often the major factor affecting supporting enterprises, especially small and medium sized and the emerging high-tech enterprises’ development. Since early 1980 s, the development of SMEs has become a new force in C hina’s national economy. But financing difficulties and the behavior of short-term financing have been a major bottleneck hinder the development of SMEs in China. Given the characts of the current stage of SMEs, trade finance has become well adapted to the development of SMEs financing. Through the supply chain enterprise trade credit, it can effectively play the role of supply chain financial synergy, deploy the funds remaining in the supply chain, and promote the effective functioning of the entire supply chain.This paper considers a supply chain system consists of a single retailer and two suppliers. In this system, retailers place orders without its own funds to pay the purchase price; in the presence of multiple vendors, suppliers have agreed to provide trade credit and markdown allowances to retailers. For the goods retailers not to sell out, suppliers give retailers markdown allowance below wholesale price. This paper establishes financing cost model of retailers, analyzing and comparing the financing cost between the direct bank financing and the choice of trade credit financing. On this basis, in the decentralized decision-making, explore the impact of suppliers’ cooperation and compete to the combined profits of the supply chain and retailer profit. And research the role of the slow- moving markdown allowance rate for the supply chain coordinating.In this paper, combining theory with empirical and comparative analysis method is used. By setting numerical model variables, the model is simulation. Compare with retailers and suppliers’ profits and the impact on the overall profit of supply chain in different financing.The results show that under the centralized and decentralized decision-making situation, whether suppliers cooperation or competition, trade credit is beneficial to reduce the cost of the retailer’s financing; when information asymmetry, the competition will make other suppliers be eliminated by retailers, and only one will get the optimal order quantity with retailers. Markdown allowance rate has increased function property. Suppliers can make the supply chain by adjusting the markdown allowance rate to achieve optimal joint profits.