考虑信用融资的期权和实物产品最优组合采购策略

分析由零售商和银行组成的供应链系统, 在零售商面临资金约束的条件下, 通过引入期权采购和信用融资的组合方式, 实现企业的资金风险降低和运作效率提升. 通过建立博弈模型分析得出零售商的最优实物产品采购量和最优期权采购量的显性表达式, 证明银行的最优信用借款利率的存在性和唯一性条件. 通过比较存在资金约束情形下的其他运作方式, 发现信用融资是最有效的决策方式, 可以提升零售商的绩效, 最大可能实现全局最优.

Optimal option and fixed order decisions with trade credit consideration

The paper analyzes the purchasing policy for a supply chain with a retailer and a bank, in which the retailer has financial constraints. By introducing the option procurement and trade credit, the performance improvement and risk reduction are realized. By analyzing the optimal option and fixed order quantities for the retailer and the optimal loan rate for the bank, the explicit expressions and existence conditions are obtained. By comparing the other ways under financial constraint, it is found that trade credit is the most efficient way for the retailer to improve the performance and to realize the global optimum.