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Optimal Financing and Production Decisions for a Supply Chain with Buyer-backed Purchase Order Financing Contract

Yuan Cao, Ji-Hong Zhang, Xiao-Yu Ma
2019 IEEE Access  
In this contract, the retailer provides credit guarantee for the supplier's loan. As the loan guarantor, the retailer determines the amount of credit guarantee.  ...  In addition, we show that how the optimal decisions are affected by the supplier's initial capital and supply chain members' inventory risk.  ...  The authors model a supplier's inventory replenishment problem as a multi-stage dynamic program and derive the supplier's optimal inventory policy for two cases: no access to external financing, and access  ... 
doi:10.1109/access.2019.2935741 fatcat:5pnejveci5cszbamsj2vx7xvcm

Purchase Order Financing: Credit, Commitment, and Supply Chain Consequences

Matthew Reindorp, Fehmi Tanrisever, Anne Lange
2018 Operations Research  
We assume a newsvendor model of operations and analyze the strategic interaction of the two parties as a sequential game.  ...  Key parameters in our model are the supplier's ex ante credit limit, her informational transparency-which conditions the amount of additional capital released by the commitment-and the demand characteristics  ...  Acknowledgments The authors thank the associate editor and two anonymous referees for suggestions that entailed many significant improvements in the text.  ... 
doi:10.1287/opre.2018.1727 fatcat:a3waqk52kzdj5gwvjw7orqjv6i

Impact of Loss-Aversion on a Financially-Constrained Supply Chain

2019 Sustainability  
It is assumed that the bank provides a loan to the retailer considering the supplier's credit guarantee for the retailer.  ...  The supplier's credit guarantee implies that, if the retailer goes bankrupt after the sales season, then a pre-guaranteed proportion of the retailer's loan is repaid by the supplier.  ...  Funding: This work was supported by the 2019 Hongik University Research Fund. Conflicts of Interest: The authors declare no conflict of interest.  ... 
doi:10.3390/su11092680 fatcat:ur3r3qhuszgshatla22k5fxmcq

Study on the Selection Strategy of Supply Chain Financing Modes Based on the Retailer's Trade Grade

Jianjun Yu, Dan Zhu
2018 Sustainability  
In the presence of bankruptcy risk for the retailer, we model their strategic interaction as a Stackelberg game with the supplier as the leader and analyze the optimal decisions for each participant.  ...  In the supply chain financing (SCF) system composed of a capital-constrained retailer, a supplier and a commercial bank, we design two different limited financing modes (internal financing and external  ...  Conflicts of Interest: The authors declare no conflicts of interest.  ... 
doi:10.3390/su10093045 fatcat:ibljgyty7fdrjiebab6kic3fni

The Optimal Strategies of Risk-Averse Newsvendor Model for a Dyadic Supply Chain with Financing Service

Jianxin Chen
2017 Discrete Dynamics in Nature and Society  
It is found that the order quantity decreases in the degree of risk aversion. The optimal order quantity is decreasing in initial budget, wholesale price, and interest rate.  ...  Different from the existing research, we analyze how the financing service of bank loan impacts the risk-averse newsvendor's decision and how the risk-averse behavior of the retailer influences the optimal  ...  To some extent, bank financing service can provoke the retailer to order more. The Supplier's Model.  ... 
doi:10.1155/2017/4861515 fatcat:qqafpc6qxrh4laithksvrtq4oa

Independence of Capacity Ordering and Financial Subsidies to Risky Suppliers

Volodymyr Babich
2010 Manufacturing & Service Operations Management  
Conditions are presented for the optimal subsidy policy to have a "subsidize-up-to" structure and for the optimal ordering decisions to be newsvendor fractiles.  ...  addresses the following questions: What is the optimal joint capacity ordering and financial subsidy policy for the manufacturer?  ...  The GBM process for the assets, besides being well-studied and accepted in finance literature, facilitates calculations of the optimal policies in this paper.  ... 
doi:10.1287/msom.1090.0284 fatcat:w2rcryrbifhm3awlqa5cjnwdau

Coordination Scheme for Restructuring Business Operation of the Single Period Newsvendor Problem

Chiuh-Cheng Chyu, I-Ping Huang
2013 Mathematical Problems in Engineering  
The aim of this research is to propose a satisfying compromise based on consignment policy to resolve the revenue-sharing conflict in Model 2 due to the additional revenue.  ...  This paper presents a coordination scheme for a single period newsvendor problem when both supplier and retailer of the supply chain agree to change the business operation from a market decision power  ...  Acknowledgments The authors are grateful to the referees for their constructive comments and helpful suggestions that led to significant improvement in the content and presentation of the paper.  ... 
doi:10.1155/2013/308187 fatcat:jzmxi6qklfa25dsaicougqx7u4

Research on Supply Chain Model Based on Guaranteed Financing

Bian Ying-Jin
2020 Scholars Journal of Economics Business and Management  
This paper considers the retailer's initial capital, as well as the residual value of unsold goods, and so on, and studies how retailers make optimal order decisions in the face of initial shortage of  ...  This paper considers the three-tier supply chain model of retailers facing the problem of capital constraints, designs a credit guarantee financing contract for retailers, and enables retailers to obtain  ...  In the model of single supplier, single retailer, and bank, the core enterprise provides the retailer with conditional financing guarantee and discusses the financing decision of the supplier's credit  ... 
doi:10.36347/sjebm.2020.v07i02.003 fatcat:hb42b4rjtvditctfka73wdb3j4

A financing model with rebate contract in a capital-constrained supply chain

Jizhou Zhan
2020 Reserche operationelle  
This study shows that retailer's optimal order quantity increases with MOQ level and decreases with rebate rate, while supplier's optimal wholesale price shows an opposite tendency.  ...  In a two-level supply chain that includes one supplier and one capital-constrained retailer, this paper investigates a new bank financing model (Model N), in which, the supplier requires the retailer to  ...  .) between one buyer and one vendor in the supply chain, and an external financing channel that refers to the the financing service from a third party, in which, the bank financing based on newsvendor  ... 
doi:10.1051/ro/2020020 fatcat:tsljvut3cvafpkz63coixjqzx4

Loss-averse supply chain decisions with a capital constrained retailer

Wenyan Zhuo, ,School of Marketing and Logistics Management, Nanjing University of Finance and Economics, Nanjing, Jiangsu Province 210023, China, Honglin Yang, Leopoldo Eduardo Cárdenas-Barrón, Hong Wan, ,School of Business Administration, Hunan University, Changsha, Hunan Province 410082, China, ,Department of Industrial and Systems Engineering, School of Engineering and Sciences, Tecnológico de Monterrey, E. Garza Sada 2501 Sur, C.P. 64849, Monterrey, Nuevo León, México, ,School of Business, State University of New York at Oswego, Oswego, NY 13126, USA
2017 Journal of Industrial and Management Optimization  
This paper investigates the optimal decisions of both the supplier and the capital constrained retailer being loss aversion decision makers under different financing strategies.  ...  In real-world transactions, capital constraints restrict the rapid development of the enterprises in the supply chain. The loss aversion behaviors of enterprises directly affect the decision making.  ...  [6] studied the loss-averse retailer's and the risk-neutral supplier's optimal policies under option contracts.  ... 
doi:10.3934/jimo.2019131 fatcat:zwhgbyprfrgxdn7xcdmrmcu5vu

Optimal Decisions and Financing Strategies Selection of Supply Chain with Capital Constraint

Bo Wang, De-Chun Huang, Hai-yan Li, Ji-Yong Ding
2016 Mathematical Problems in Engineering  
Results show that both of the two modes can create new value and profit for the supply chain with capital constraint and achieve optimal production under "newsvendor" mode; the supply chain has the better  ...  Under the RPFM, the retailer places order in advance for a discount price and makes prepayment; manufacturer is able to finance from a bank as production quantity cannot satisfy the second-order quantity  ...  Acknowledgments This work is supported by the National Natural Science Foundation of China (no. 71573072).  ... 
doi:10.1155/2016/6597259 fatcat:6kg6wk5yvfhnxhglkvjx22iwpe

Optimal Decision of Deferred Payment Supply Chain considering Bilateral Risk-Aversion Degree

Liu Liang, Li Futou
2018 Mathematical Problems in Engineering  
aversion; the supplier's expected profit decreases with the increase in the degree of risk aversion, yet the optimal wholesale price is determined by the degree of risk aversion of supplier and retailer  ...  According to this criterion, the retailer's optimal order quantity and the supplier's optimal wholesale price per unit product were investigated under decentralized decision-making.  ...  After that, Huang [14] developed the buyer's inventory model and obtained the buyer's optimal cycle time and optimal payment time under the supplier's trade credit policy and cash-discount policy.  ... 
doi:10.1155/2018/2721508 fatcat:2so3sky6enhgzejhh4slbll7mu

Bank Credit Financing and Trade Credit Financing Based on Carbon Emission Trading

Hao Sun, Guangkuo Gao, Arunava Majumder
2022 Mathematical Problems in Engineering  
We studied a supply chain financing (SCF) system with one capital-constrained manufacturer and one capital-rich supplier, in which manufacturers can choose bank credit financing (BCF) or trade credit financing  ...  The research shows that the emission reduction level of manufacturers increases with the increase in carbon emission trading price, and the output of manufacturers increases with the increase in emission  ...  , we can obtain the supplier's optimal wholesale price w T , as shown in Proposition 4  ... 
doi:10.1155/2022/6781650 fatcat:cm4wbix6lffjtgaezscpjxxkfe

Why and How Does a Supplier Choose Factoring Finance?

Chunying Tian, Dongyan Chen, Zhaobo Chen, Ding Zhang
2020 Mathematical Problems in Engineering  
If the target profit is lower than a certain level, the supplier's financial choice will switch from recourse factoring to nonrecourse factoring in the case finance ratio is relatively low; otherwise,  ...  In particular, we identify the conditions on which factoring may bring benefits (including financial benefit, guarantee benefit, and receivables management benefit) to the supplier.  ...  Based on [21] , by trading the supplier's cash retention policy as an external parameter, Lekkakos and Serrano [23] analytically show the optimality of a base-stock policy.  ... 
doi:10.1155/2020/9258646 fatcat:6dd5ku4wqfcbhmmekij273sejq

Joint logistics and financial services by a 3PL firm

Xiangfeng Chen, Gangshu (George) Cai
2011 European Journal of Operational Research  
We further demonstrate that, for all players, both the control role and supplier credit models can outperform the classic newsvendor model without budget constraint.  ...  In comparison with a supplier credit model where the supplier provides the trade credit, the control role model yields a better performance for the supply chain as long as the 3PL firm's marginal profit  ...  The second author acknowledges support from the National Science Foundation (NSF) through Grant CMMI-0927591.  ... 
doi:10.1016/j.ejor.2011.05.010 fatcat:f4ewaejh6japvnr7oxdoyuzwcq
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