【摘要】：預(yù)付賬款融資是供應(yīng)鏈金融的重要模式之一，能夠幫助企業(yè)解決采購過程中遇到的資金瓶頸問題，給各參與方增加利潤，因而得到廣泛關(guān)注和應(yīng)用。本文主要做了供應(yīng)鏈金融預(yù)付賬款融資模式中核心企業(yè)的操作策略研究，力圖找到一種能夠持續(xù)實(shí)現(xiàn)核心企業(yè)利潤最大化的操作方案，來為企業(yè)經(jīng)營決策提供理論參考。 為了實(shí)現(xiàn)上述目的，本文首先系統(tǒng)地闡述了供應(yīng)鏈金融概念，介紹了委托代理、交易成本、自償性貿(mào)易相關(guān)基礎(chǔ)理論，分析比較了預(yù)付賬款、存貨類和應(yīng)收賬款三類供應(yīng)鏈金融融資模式，為全文的研究奠定了理論基礎(chǔ)。 其次，基于預(yù)付賬款融資三方參與模式，在分析各參與方期望利潤的基礎(chǔ)上，建立了基于隨機(jī)市場需求的基礎(chǔ)模型、考慮回購違約的特殊模型和保證回購條件下的改進(jìn)模型；通過對(duì)模型的對(duì)比分析，發(fā)現(xiàn)了供應(yīng)鏈總利潤的大小最終取決于回購率的大小。 然后，基于期望利潤模型，分系統(tǒng)決策和單獨(dú)決策，分別求出了利潤最大化時(shí)各種模型中參數(shù)表達(dá)式；通過對(duì)預(yù)付賬款融資與傳統(tǒng)供應(yīng)鏈貿(mào)易的利潤比較，，得出了運(yùn)作預(yù)付賬款融資的參與約束；在預(yù)付賬款融資中，給出了解決出現(xiàn)大量回購產(chǎn)品的參考策略，即回購違約策略和避免出現(xiàn)大量回購產(chǎn)品的方案，即激勵(lì)、促銷和組建戰(zhàn)略聯(lián)盟三種方案。這為預(yù)付賬款融資模式的理論研究提供了思路，也為實(shí)際操提了供決策參考。 最后，基于前文的理論研究，做了案例分析。在分析各參與方風(fēng)險(xiǎn)的基礎(chǔ)上，結(jié)合所建立的模型，提出一般、特殊和改進(jìn)三種操作方案；再帶入仿真數(shù)據(jù)，得到以下結(jié)論：無論是系統(tǒng)決策還是單獨(dú)決策，改進(jìn)方案中的供應(yīng)鏈總利潤、核心企業(yè)期望利潤和供應(yīng)商總利潤都是大于基礎(chǔ)方案的；核心企業(yè)會(huì)選擇改進(jìn)方案中的單獨(dú)決策作為最優(yōu)操作策略。同時(shí)說明改進(jìn)模型相對(duì)基礎(chǔ)模型具有優(yōu)化作用；對(duì)于特殊模型具有替代作用；驗(yàn)證了改進(jìn)方案能夠作為預(yù)付賬款融資操作參考的通用方案。
[Abstract]:Pre-payment financing is one of the important models of supply chain finance, which can help enterprises solve the problem of capital bottleneck in purchasing process, increase profits for each participant, and thus get wide attention and application. This paper mainly studies the operation strategy of the core enterprise in the financing mode of supply chain finance prepaid account, and tries to find a kind of operation plan which can continuously realize the profit maximization of the core enterprise, to provide the theory reference for the enterprise management decision. In order to achieve the above purpose, this paper firstly introduces the concept of supply chain finance, introduces the basic theories of principal-agent, transaction cost, self-compensation trade, and analyzes and compares the prepaid accounts. Inventory and accounts receivable three types of supply chain financial financing model, for the full study of the theoretical basis. Secondly, based on the three-party participation model of pre-payment financing, based on the analysis of the expected profits of the participants, the paper establishes the basic model based on the demand of random market, considering the special model of repurchase default and the improved model under the condition of guaranteed repurchase. Through the comparison and analysis of the model, it is found that the total profit of the supply chain depends on the repurchase rate. Then, based on the expected profit model, sub-system decision and individual decision, the parametric expressions of each model are obtained respectively when the profit is maximized. By comparing the prepaid account financing with the profit of the traditional supply chain trade, the participation constraints of the operation prepaid account financing are obtained. In the financing of prepaid accounts, the paper gives the reference strategy to solve the problem of repurchase products, that is, the strategy of repurchase breach of contract and the scheme of avoiding a large number of repurchase products, which are incentive, promotion and forming strategic alliance. This provides a theoretical approach for the research of prepayment financing mode, and also provides a reference for decision-making. Finally, based on the previous theoretical research, a case study is made. On the basis of analyzing the risks of each participant, combined with the established model, three kinds of operation schemes, general, special and improved, are put forward. Then bring the simulation data into the simulation data and get the following conclusions: the total profit of the supply chain in the improved scheme, the expected profit of the core enterprise and the total profit of the supplier are all larger than that of the basic scheme, regardless of the system decision or the individual decision; The core enterprise chooses the individual decision in the improvement scheme as the optimal operation strategy. At the same time, it shows that the improved model can optimize the basic model, replace the special model, and verify that the improved model can be used as a general reference for the prepayment financing operation.
【學(xué)位授予單位】：重慶交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F831

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