基于现金流管理的单向可替代产品制造/再制造生产决策研究

Manufacturing/remanufacturing Production Decisions of One-Way Substitution Products Based on Cash Flow Management

针对多周期的制造/再制造生产计划问题,考虑到新品和再制品之间的单向替代关系,通过整合一个确定的现金流管理模型和生产运作管理模型,构建综合决策的混合整数规划模型,并利用数值算例验证了集成模型的合理性和适用性。结果表明:(1)单向替代关系减少新品销售量的同时,大大提高了再制品的需求满足程度,尽管使企业承担较高的流动风险,却带来更高的投资回报;(2)灵活还款计划在增加生产运作成本的同时,也降低了短期贷款成本,而整体的现金流入量更大,最终使得企业获得更高的期末现金等价物头寸;(3)与延长应付账款信用期限相比,加快应收账款周转速度能够更好地增加资金可使用量,改善企业的经营状况。

A mixed integer programming model is proposed by combining a deterministic cash flow management model with an operation management model to study a multi-period manufacturing/remanufacturing production planning problem considering one-way substitution strategy between new and remanufactured products.Furthermore,a numerical example is provided to illustrate reasonability and applicability of the proposed integrating model.The results show that:(1)the One-way substitution strategy slightly reduces sales of new product and greatly improves the demand satisfaction of remanufactured product,which makes firms take a higher liquidity risk but brings more capital in return;(2)a flexible amortizations plan increases production operations cost,but also reduces short-term loan cost,and the larger overall cash inflows ultimately makes firms obtain a higher position of cash equivalents at the end of the period;(3)compared with extending credit period of accounts payable,it is more efficacious to increase available amounts of capital,and then to improve operating conditions through accelerating turnovers of accounts receivable.