消费金融下供应链运营策略研究

Research on the Decision-Making of Supply Chain Entities Led by E-Commerce Platforms Considering Consumer Finance

摘要: 将消费金融与供应链金融相结合，基于消费者效用理论，构建电商平台作为主导者的三级供应链系统的博弈模型，分析了银行、供应商、电商三个主体的最优决策方案。研究发现：供应商有无资金约束时最主要的不同在于适用的利率不同，当银行利率等于无风险利率时，无论供应商是否存在资金约束，电商平台的最优决策是一定的。加入消费金融作为考量因素后，当分期付款违约率在一定范围内时，电商平台的利润空间增加，供应商的利润占比减小。数值分析结果显示最优零售价格敏感系数随着缺陷率的增加先大后小，最优批发价格敏感系数随着缺陷率的增大先小后大；顾客分期付款履约率与最佳零售价格反向变化；最优批发价格w关于Rd的敏感系数大于最优零售价格p关于Rd的敏感系数。

Abstract: Based on the theory of consumer utility, we combine consumer finance with supply chain finance and build a game model of three-tier supply chain system with e-commerce platform as the leader, analyzing the optimal decision-making scheme of banks, suppliers and e-commerce. The study found that the main difference between suppliers with or without funding constraints is that the supplier’s profit structure is different and the applicable interest rates are different. When the bank interest rate is equal to the risk-free interest rate, regardless of whether the supplier has funding constraints, the retailer’s optimal decision is certain. Through numerical analysis, it is found that the optimal retail price sensitivity coefficient first increases and then decreases with the increase of the defect rate, and the optimal wholesale price sensitivity coefficient first decreases and then increases with the increase of the defect rate; the customer installment performance rate is inverse to the best retail price. The sensitivity coefficient of the optimal wholesale price w with respect to Rd is greater than the sensitivity coefficient of the optimal retail price p with respect to R_d.