Research On Ordering Decision Of Supply Chain Based On Recourse Right

Supply Chain Finance(SCF)is a new type of financial business based on the real trade between upstream and downstream supply chains,which penetrates business and optimizes cash flow.In the retailer-dominated supply chain,when dealing with retailers,retailers tend to delay payment due to suppliers' weak position,which inevitably results in accounts receivable.For the suppliers of these small and medium-sized enterprises,accounts receivable generally have a payment period of 3-9 months,and occupy a large proportion of their current assets.Suppliers lack liquidity.Gold has seriously affected the normal operation activities.The financing difficulty of SMEs has become a global problem.Due to the lack of collateral assets,poor credit situation and high financing risk,banks and other financial institutions are reluctant to lend to SMEs.The emergence of supply chain finance has expanded the financing channels of SMEs,brought new solutions to the financing difficulties of SMEs,and diversified the financing sources of SMEs facing capital constraints.Financial service providers make use of the credit that runs through all links of the supply chain from the beginning to the end,so as to effectively control the materiel flow,capital flow and information flow in the supply chain,so as to limit the use of funds within a controllable range,so as to improve the efficiency of the whole supply chain.On the basis of summarizing the relevant literature,this paper studies a two-level supply chain system(suppliers are facing capital constraints),constructs the expected profit function under non-recourse account receivable factoring financing,recourse account receivable factoring financing and pre-payment financing by retailers.Under the assumption of random market demand,this paper studies retailers and suppliers under three financing modes.The pricing and ordering behavior of the respondent is analyzed quantitatively with an example,and thethree financing modes are compared and analyzed.Finally,the coordination of supply chain under factoring financing of accounts receivable is studied in combination with revenue sharing contract.The research results show that in factoring financing of accounts receivable,the interest rate and the proportion of factoring financing are directly proportional to the supplier's optimal wholesale price and inversely proportional to the retailer's optimal order quantity;for pricing and ordering decisions of retailers and suppliers,the recourse factoring financing is better than non-recourse factoring financing.In the financing mode of retailer's withdrawal payment,the payment ratio of retailer is inversely proportional to the optimal wholesale price of supplier,and directly proportional to the retailer's pricing and ordering volume.Accounts receivable factoring financing and retailer's advance payment can create value for the supply chain,and when the wholesale price is appropriate,the financing method of advance payment is better than the financing of accounts receivable factoring.Generally,the proportion of factoring financing of accounts receivable is higher,so factoring financing of accounts receivable is a better choice for supplier.When the proportion of advance payment is lower,for retailer,factoring financing of accounts receivable is better.To maintain the stability of the supply chain,suppliers can use their good reputation to take account receivable factoring financing to help suppliers obtain sufficient financing.