Research On The Performance Of Different Agricultural Supply Chain Financial Models And Influencing Factors

The development of agricultural modernization is inseparable from the strong financial support.Financing difficulties are the main bottleneck that China's agricultural face now.The rapid development of supply chain finance provides an effective solution to the problem of capital constraints in agricultural supply chain.Analyzing the effect and influencing factors of different supply chain financial models can provide theoretical reference for the design and popularization of agricultural supply chain financial products and services,and indirectly contribute to the development of agricultural modernization.Based on the above background,this paper studies the influence of capital constraints on cooperatives,core enterprises and distributors in agricultural supply chain by means of system dynamics.Then puts forward the solution to the problem of capital constraint-Supply chain finance and study the change of the supply chain members' performance,the main factors influencing the financing effect of Order financing model and Confirming warehouse financing model.Firstly,the research status of supply chain finance at home and abroad is analyzed through the reading and combing of related literature,and then the research content and research framework of this paper are put forward.Secondly,summarize the theoretical knowledge involved combining with the research content,such as supply chain finance,agricultural supply chain,system dynamics,etc.Then analyze the impact of capital constraints on the performance of agricultural supply chain members.Taking the vegetable supply chain as an example to establish the Dynamic model of agricultural supply chain under the restriction of capital and simulate the cooperative's and distributor's different performance under capital constraints state and no capital constraints state respectively.It is found that facing with the demand growth of downstream,cooperative's speed of scale expansion is delayed by the capital constraint.The constraints also hinder the cooperative to increase production and get more profit.Meanwhile,core business' s sales rate,out of stock rate are also impacted directly;capital constraints bring out-of-stock to distributor,the inventory is difficult to achieve the desired state,the amount of cash growth is slow.Order financing,which is provided to solute cooperative's capital constraints is analyzed in Chapter 4.Add variables related to order financing in the cooperative capital constraint model in third chapter and compares the performance of cooperatives and core business in order financing and non-financing state.It is found that order financing can effectively solvethe problems caused by the capital constraints of cooperative.And the financing ratio and the financing term are the two factors which have significant effect on supply chain members performance: the higher the proportion of financing is,the faster the cooperative can adjust it's scale,so as to bring more returns to itself and the core business;the longer the financing period is,the less amount cooperatives need to repay each period,then the smaller capital pressure is,and thus cooperative is able to get more cash accumulation.Confirming warehouse financing,which is provided to solute distributor's capital constraints is analyzed in Chapter 5.Add variables related to confirming warehouse financing in the distributor capital constraint model in third chapter and compares the performance of distributor in confirming warehouse financing and non-financing state.The simulation shows that the cash accumulation of the distributor has increased rapidly and the inventory level has been significantly improved compared with the non-financing situation,and the out-of-stock phenomenon has been restrained.It is also found that the effect of the implementation of confirming warehouse financing is closely related to the initial cash amount of the distributor and the pledge rate.The less the initial cash amount is,the more obvious the improvement effect of the financing on the distributor's capital constraint problem is.The pledge rate should be set at reasonable level,too high or too low can both bring negative impact.The research conclusions are summarized in Chapter 6,and puts forward the policy suggestions at the macro level in order to promote the application and popularization of supply chain finance in China's agricultural supply chain.