Research On Global Supply Chain Management Mechanism Considering Exchange Rate Risk

The impact of exchange rate risk on the operation and management of multinational enterprises is becoming more and more important under the increasingly open environment of international trade.With the implementation of the policy of "one belt and one road",China's trade volume will increase,and the task of preventing exchange rate risk will become more important.The semi-annual report of A shares disclosed in 2018 shows that among more than 3500 listed companies,nearly 80% of companies report exchange gains and losses and are affected by exchange rate fluctuations.The total amount involved was over 6.3 billion yuan,and 1226 of them suffered serious losses due to exchange rate fluctuations.As a major processing and trading country,China has close trade ties with other countries in the world.With the gradual progress of RMB internationalization,the scope and frequency of exchange rate fluctuations will be wider and more frequent.Therefore,the research and management of exchange rate risk of multinational enterprises is of more practical significance.From the perspective of supply chain analysis,this paper studies the management mechanism of multinational enterprises in dealing with exchange rate fluctuation risk from two perspectives: the undertaking mechanism and the cooperation mechanism.The first chapter introduces the background and significance of this study,and the technical route of this paper;Chapter Two collates and analyses the relevant literature at home and abroad,mainly involving exchange rate risk,enterprise response measures,supply chain coordination and supply chain structure.By reviewing the existing research results,it shows that the research value of this paper.Chapter Three explores the impact of exchange rate risk-taking mechanism on supply chain decision-making and performance from the perspective of the dominant structure of supply chain operation;Chapter Four studies the three management strategies adopted by enterprises to deal with exchange rate risk from the perspective of supply chain cooperation: no measures,manufacturer's response alone,supply chain coordination response.The fifth chapter is a summary of the research conclusions and results of the article,and puts forward further expandable research directions in the future.Through the model study,this paper finds that: On the bearing mechanism of enterprises to deal with exchange rate risk,although the supplier or retailer-led exchange rate risk-taking mechanism will not bring operational differences to the supplier-led supply chain which is consistent with the conclusions of Arcelus et al.But retailer-led exchange rate risk-taking has a substantial impact on supply chain operation.Furthermore,we propose a revenue sharing contract to adjust the impact of exchange rate risk taking,and find a cooperative way to deal with the risk.On the cooperative mechanism of supply chain for enterprises to deal with exchange rate risk,no matter how the exchange rate changes,the manufacturer alone is not the best choice.When exchange rate fluctuation is small,the original plan should be maintained,and when exchange rate fluctuation is large,the supply chain should coordinate with each other;In addition,it is found that supply chain coordination strategy plays a more significant role in exchange rate instability market than exchange rate stability market.