考虑3PL企业融资服务的双渠道制造商定价与融资决策

doi:10.3969/j.issn.1007-7375.2022.04.004

摘要/Abstract

摘要： 在由一个制造商、一个传统零售商和一个3PL企业组成的双渠道供应链中，制造商占主导地位且存在资金约束，传统零售商和3PL企业分别为传统渠道和直销渠道提供运输服务。构建Stackelberg博弈模型对比分析制造商无资金约束、向零售商融资和向3PL企业融资3种情形下双渠道供应链定价和内部融资决策问题。研究表明，当运输服务费用较高时，制造商始终选择向3PL企业融资；当运输服务费用较低时，若直销渠道市场份额也较低，则制造商倾向于向零售商融资；若直销渠道市场份额较高，则制造商倾向于向3PL企业融资。

关键词: 双渠道, 供应链, 资金约束, 第三方物流, 内部融资

Abstract: In the dual channel supply chain composed of a manufacturer, a traditional retailer and a 3PL enterprise, the manufacturer is dominant and has capital constraints. The traditional retailer and 3PL enterprise provide transportation services for the traditional channel and the direct channel respectively. A Stackelberg game model is constructed and three situations compared and analyzed: the manufacturer having no capital constraints, financing from the retailer and financing from the 3PL enterprise. The pricing and internal financing decision of dual channel supply chain are discussed. The results show that: when the transportation service cost is high, manufacturers always choose to finance from 3PL enterprises; when the transportation service cost is low, if the direct channel market share is high, manufacturers tend to finance from 3PL enterprises; if the direct channel market share is low, manufacturers tend to finance from retailers.

Key words: dual channel, supply chain, capital constraint, 3PL(third-party logistics), internal financing

中图分类号:

F274

梁喜, 赵英杰. 考虑3PL企业融资服务的双渠道制造商定价与融资决策[J]. 工业工程, 2022, 25(4): 28-35.

LIANG Xi, ZHAO Yingjie. Dual-channel Manufacturer Pricing and Financing Decisions Considering 3PL Corporate Financing Service[J]. Industrial Engineering Journal, 2022, 25(4): 28-35.

参考文献

[1] CHEN X F, CAI G H. Joint logistics and financial services by a 3PL firm[J]. European Journal of Operational Research, 2011, 214(3): 579-587
[2] KOUVELIS P, ZHAO W. Financing the newsvendor: supplier vs. bank, and the structure of optimal trade credit contracts[J]. Operations Research, 2012, 60(3): 566-580
[3] YAN N, SUN B. Coordinating loan strategies for supply chain financing with limited credit[J]. OR Spectrum, 2013, 35: 1039-1058.
[4] CAI G, Chen X , XIAO Z. The roles of bank and trade credits: theoretical analysis and empirical evidence[J]. Production and Operations Management, 2014, 23(4): 583-598.
[5] YANG H, ZHOU W, SHAO L, et al. Equilibrium evolution in a two-echelon supply chain with financially constrained retailers: the impact of equity financing[J]. International Journal of Production Economics, 2017, 185: 139-149.
[6] ZHEN X, SHI D, LI Y, et al. Manufacturer's financing strategy in a dual-channel supply chain: tthird-party platform, bank, and retailer credit financing[J/OL]. Transportation Research Part E: Logistics and Transportation Review, 2020, (2020-01). https://doi.org/10.1016/j.tre.2019.101820.
[7] WEI J, LUO J W, ZHANG Q H. Optimal ordering and financing decisions under advance selling and delayed payment for a capital-constrained supply chain[J]. Journal of the Operational Research Society, 2018, 69: 1978-1993
[8] 金伟, 骆建文. 基于双边资金约束供应链的均衡组合融资策略[J]. 系统工程理论与实践, 2017, 37(6): 1441-1451.
JIN Wei, LUO Jianwen. Equilibrium financing portfolio strategies for a supply chain with bilateral capital constraints [J]. System Engineering - Theory and Practice 2017, 37 (6): 1441-1451.
[9] 李波, 安思敏, 侯棚文. 风险规避零售商在资金约束供应链中的融资渠道选择策略[J]. 工业工程与管理, 2018, 23(6): 87-94, 115
LI Bo, AN Simin, HOU Pengwen. Financing channel selection policies of the risk-averse retailer in a capital constrained supply chain[J]. Industrial Engineering and Management, 2018, 23(6): 87-94, 115
[10] 杨浩雄, 段炜钰. 面向制造商资金约束的绿色供应链融资策略研究[J]. 运筹与管理, 2019, 28(8): 126-133
YANG Haoxiong, DUAN Weiyu. Research on financing mode for capital constrained manufacture in green supply chain[J]. Operations Research and Management Science, 2019, 28(8): 126-133
[11] CHIANG W Y K, CHHAJED D, HESS J D. Direct marketing, indirect profits: a strategic analysis of dual-channel supply-chain design[J]. Management Science, 2003, 49(1): 1-20
[12] YAO D Q, LIU J J. Competitive pricing of mixed retail and e-tail distribution channels[J]. Omega, 2005, 33(3): 235-247
[13] ARYA A, MITTENDOR B, YOON D H. Friction in related-party trade when a rival is also a customer[J]. Management Science, 2008, 54(11): 1850-1860
[14] CAI G S. Channel selection and coordination in dual-channel supply chains[J]. Journal of Retailing, 2010, 86(1): 22-36
[15] ERJIANG E, GENG P, XIN T, et al. Online cooperative promotion and cost sharing policy under supply chain competition[J]. Mathematical Problems in Engineering, 2016(1): 1-11
[16] 张小娟, 王勇. 零售商资金约束的双渠道供应链决策[J]. 控制与决策, 2014(2): 299-306
ZHANG Xiaojuan, WANG Yong. Dual-channel supply chain decision with retailer's capital constraint[J]. Control and Decision, 2014(2): 299-306
[17] 肖肖, 骆建文. 面向资金约束制造商的双渠道供应链融资策略[J]. 系统管理学报, 2016, 25(1): 121-128, 138
XIAO Xiao, LUO Jianwen. Dual-channel supply chain financing strategies for capital constrained manufacturers in the dual-channel supply chain[J]. Journal of Systems & Management, 2016, 25(1): 121-128, 138
[18] 赵亮, 庄新田, 石军. 制造商资金约束下的双渠道供应链协调[J]. 东北大学学报(自然科学版), 2018, 39(2): 288-292
ZHAO Liang, ZHUANG Xintian, SHI Jun. Dual-channel supply chain coordination with manufacturer's capital constraint[J]. Journal of Northeastern University (Natural Science), 2018, 39(2): 288-292
[19] 李建苗, 李向荣, 张克勇, 等. 新零售模式下在线零售商融资均衡与协调策略研究[J]. 中国管理科学, 2021, 29(4): 57-69
LI Jianmiao, LI Xiangrong, ZHANG Keyong, et al. Financing online retailers about equilibrium and coordinating strategy under the new retail[J]. Chinese Journal of Management Science, 2021, 29(4): 57-69
[20] 周永务, 张雄, 李璐. 制造商资金约束的双渠道供应链定价与融资决策[J]. 系统工程学报, 2020, 35(5): 670-688
ZHOU Yongwu, ZHANG Xiong, LI Lu. Dual-channel supply chain pricing and financing decision with manufacturer's capital constraint[J]. Journal of Systems Engineering, 2020, 35(5): 670-688