Research On Supply Chain Financing Led By Core Enterprises

Currently, the research of logistics and information flow in supply chain management has been widely discussed, yet the study on financial flow in supply chain has been less. Supply chain financing has been a new orientation of the development of supply chain management and financial theory in recent years, which is an effective means to solve the financing problem of small and medium sized enterprises and reduce the cost of funding in supply chain. The limitations have been seen in the existed supply chain financing mode. Specifically, their business relies on core enterprise, nonetheless they hasn’t make full use of the coordination ability of the core enterprise in the supply chain, meanwhile the financing problem of small and medium enterprises has yet been solved. Hence the relevant researches of SCF were operated from the perspectives of core enterprises.Firstly, under the guidance of the basic theory of supply chain financing (SCF). the existing supply chain financing modes have been analyzed in this thesis, the external demands for core enterprises are verified and their internal demands for the supply chain operation are also been analyzed and illustrated. The financial service organizations were established and have been directly operated in the supply chains of small and medium sized enterprises, that is the supply chain financing pattern led by core enterprises. Moreover, the specific operation models (logistics supervisor agent financing mode and the core enterprise business factoring mode) were researched and analyzed.Then, as to the optimization of the capital cost, the approach of mathematical modeling is utilized, the external financing mode and the financing mode for supply chain are established. The conclusion was drawn that the core enterprises can lower the fellow financing enterprises costs effectively through their own advantages in fund channel.Finally, as to the problems of SCF on the decision of supply chain operation. A hypothesis was put forward that a supply chain system was composed of one supplier (core enterprise) and one retailer, and considered that the demand was a function of price. The financial service provided by the suppliers are regarded as an instrument for coordination into the operating strategies for the supply chain. The Stackelberg game approach was implemented with the purpose of striking the balance of the best strategy for the suppliers and comparatively analyzed the distinctions between the independent decentralization and the decision for central supply chains. Through the analysis of examples, a phenomenon was found out that the general effectiveness can be improved when the suppliers provide supply chain services so as to realize the best Pareto. Through the sensitivity analysis, the influences on the outcomes of each parameters were analyzed. A similar result was found that the products prices can be reduced and the demand can be increased when the core enterprises offer financing service of supply chain. Moreover, under certain circumanstances. the overall profits of the central supply chain are surpassed by that of the supply chain.