考虑保证金率的资金约束零售商运营决策

Operational Decision of Capital-Constrained Retailer with Consideration of Margin Rate

在供应商和资金不足的零售商组成的资金约束供应链中,供应商愿意为资金不足的零售商提供商业信用合同,零售商可以一定比例支付初始保证金,并且供应商允许零售商延迟支付剩余款项.研究了当零售商的初始运营资金处于不同水平时零售商的最优订购决策,讨论了保证金率和初始运营资金等参数对零售商决策和供应链利润的影响.结果表明:零售商在初始运营资金不足的情况下,采用部分商业信用合同会使双方的收益都提高;当零售商存在破产风险且承担有限责任时,商业信用能激励零售商提高订购量,且初始运营资金越少订购量越大.

In the capital-constraint supply chain composed of one supplier and one capital-constrained retailer, the retailer＇s own capital is taken as a constraint condition while supplier allows retailer to take on partial trade credit. It means that retailer needs to pay a certain margin so that it can make a delayed payment to supplier. The retailer＇s best ordering decision is studied when the retailer＇s own capitals are on different level, analyzing the decision of retailer and the effect to profit of setting the margin rate and own capital. It finds that taking on partial trade credit from supplier would greatly improve the profit of all members in supply chain. And it also shows trade credit can encourage a capital-constrained retailer with limited liability to make a greater ordering level which is decreasing in the retailer＇s working capital.