基于供应链视角的钢铁上市公司库存绩效实证研究

Empirical Study on Inventory Performance of Chinese Iron & Steel Public- listed Enterprises from Supply Chain Lens

近年来，在产能过剩和市场需求萎缩的形势下，库存成为钢铁企业亟需解决的问题。本文采用钢铁行业36家上市公司2001～2011年度的面板数据构建模型，从供应链视角研究了供应链集中度、提前期对库存绩效的影响。研究发现，采购提前期越长，库存周转率越低；采购集中度、销售集中度越高，库存周转率越高；但销售提前期对库存周转率无显著影响。本研究结果以期为钢铁企业降低库存提供实证性指导及决策支持，并丰富了供应链管理的客观数据研究。

In recent years, most of the public - limed companies in Chinese iron ＆ steal industry backlog large inventory under the situation of excessive production capacity and shrinking market demand. This study investigates how supply chain concentration and lead- time influence inventory turnover through borrowing supply chain lens. Pand data from 36 public - listed iron ＆steal companies and from 2001 to 2011 reveals that purchasing ＆ sales concentration positively influence inventory turnover. Concerning supply chain lead- thne, we find that purchasing lead- time significantly impacts inventory turnover, however, sales lead - time does not. rFne findings hvm this study enrich the objective data research in the supply chain management, and provide gu/delines or inventory management decision- mak- ing support for those practitioners from domestic iron ＆ steal industry.