Study On Two-level Supply Chain Operation And Financing Decisions Under Trade Credit Contract

In recent years,with the penetration of the thought of supply chain management in enterprises,there has been more and more related theories and researches.Most of the research on traditional supply chain management is based on the assumption of sufficient capital.However,with the rapid development of China's economy,the competition between supply chains has intensified,and more and more enterprises begin to face capital constraints.At the same time,both theory and practice fully show that the sales efforts of enterprises can affect the market demand of products and increase the expected profit of the supply chain.Based on this,this thesis studies the supply chain operation and financing decisions under the trade credit contract,and discusses the influence of sales effort on the decision of capital constrained supply chain.In this thesis,a two-stage supply chain operation and financing decision-making model based on stackelberg game is established,in which the retailer is a capital-constrained enterprise and the supplier can provide trade credit financing for her.First,this thesis study the retailer's optimal order decision and the supplier's contract clause design decision under the limited and unlimited liability trade credit contract.Studies have shown that limited liability contracts lead retailers to order more products,which brings more benefits to the supply chain.Under the limited liability trade credit contract,the overall performance of the supply chain will first decrease and then remain unchanged with the increase of the retailer's initial capital level.In the fourth chapter,the supply chain operation and financing decision model considering retailers' sales effort is further established,and the retailer's capital allocation as well as order decision under different capital levels are obtained.The research shows that under the limited liability contract,the retailer will give priority to the promotion activities.When the deterministic demand for products brought by promotion reaches the optimal level,retailers no longer increase marketing investment,but spend the remaining funds on product procurement.In this thesis,the sales effort is embedded into the traditional trade credit financing model,which effectively solves the problem of joint decision-making of purchasing,marketing and financing.