Decision-making Of Capital-constraint Supply Chain Under Credit Guarantee

Most of the enterprises in the supply chain are small and medium-sized enterprises.These small and medium-sized enterprises often need to finance for their own development needs.However,the financing difficulties of SMEs have always been problems in the Chinese economic development.In order to solve the financing problem existing in small and medium-sized enterprises in the supply chain,many financing models based on supply chain have been applied to solve the problem of capital-constraint supply chain in recent years,which has effectively reduced the financing difficulty of SMEs in the supply chain and enhance the overall efficiency of the supply chain.Credit guarantee actually belongs to a third party guarantee.The basic function of the credit guarantee is to guarantee the creditor's rights realization and promote the flow of capital and other factors of production.The financing model based on credit guarantee in the supply chain takes advantages of the financial capability and credit rating of the core enterprises in the supply chain to provide guarantees for SMEs and finally effectively solve the problem of high financing costs for SMEs in the supply chain.The problem studies in this thesis is that in the supply chain system,when the retailer faces financial constraints,the supplier helps the retailer to obtain loans from bank financial institutions through credit guarantees.This thesis first analyzes the supply chain decision-making model considering the bank's bankruptcy cost in the credit guarantee mode,and then introduces the supply chain contract to improve the supply chain efficiency.In order to extend the research,this thesis studies the supply chain decision model based on credit guarantee under asymmetric information.Through the numerical analysis,the main conclusions drawn from this thesis are as follows: when all the members in the supply chain have complete information and the retailer is facing financial constraints as well as the supplier provides credit guarantee,the supplier can make use of the proportion of guarantee to improve its own profit and reduce the profit of the retailer,resulting in the supply chain instability;under the asymmetric information environment,suppliers and banks will set higher wholesale prices and lending rates for retailers with high self-owned funds,and set smaller wholesale prices and lending rates for retailers with low self-owned funds,to avoid retailers using information asymmetry to misrepresent the type of their own funds;after the introduction of the supply chain contract(?,T),the overall level of profitability of all members in the supply chain system can be improved whether in the context of symmetric information or asymmetric information.The conclusion of this thesis can provide the best decision-making scheme for managers in the supply chain system where retailers face financial constraints under the credit guarantee financing model and adjust the decision-making according to various factors.At the same time,the results of this thesis can also guide the financial institutions that provide loans to supply chain members in the credit guarantee model and make the best loan decision under different circumstances.