CAJ | 학술논문

在最初的保理中, 核心企业提供信用的回报往往是体现在整体供应链绩效和运营效率上, 而不是直接收取担保费用.文章研究的是基于保理融资下的新业务——订单转保理模式. 描述了订单转保理融资模式下的整个供应链运作现状, 考虑供应链中零售商为供应商提供信用担保, 通过设定保理回报率收取担保费用, 以收益最大化为目标建立了单周期报童模型, 探讨了该融资模式对供应链绩效和效率的影响及保理回报率对订货决策的影响. 研究发现, 订单转保理模式能够提高供应链整体绩效, 使得供应链多方共赢, 但并不能明显改善供应链效率, 说明该模式下协调依旧需要发挥重要作用. 另外, 零售商愿意提供信用担保, 使得供应商获得贷款从而更好地匹配市场需求, 但通过设定保理回报率获得担保费用的方式, 反而会降低零售商的收益.
재최초적보리중, 핵심기업제공신용적회보왕왕시체현재정체공응련적효화운영효솔상, 이불시직접수취담보비용.문장연구적시기우보리융자하적신업무——정단전보리모식. 묘술료정단전보리융자모식하적정개공응련운작현상, 고필공응련중령수상위공응상제공신용담보, 통과설정보리회보솔수취담보비용, 이수익최대화위목표건립료단주기보동모형, 탐토료해융자모식대공응련적효화효솔적영향급보리회보솔대정화결책적영향. 연구발현, 정단전보리모식능구제고공응련정체적효, 사득공응련다방공영, 단병불능명현개선공응련효솔, 설명해모식하협조의구수요발휘중요작용. 령외, 령수상원의제공신용담보, 사득공응상획득대관종이경호지필배시장수구, 단통과설정보리회보솔획득담보비용적방식, 반이회강저령수상적수익.
In the initial factoring, core enterprise credit returns tend to be reflected in the overall supply chain performance and operating efficiency, rather than guarantee cost. This paper studies the new business under the factoring financing — the order-to-factoring mode. This paper describes the operational status of the entire supply chain in the order-to-factoring mode, and considers it that in the supply chain the retailer provides credit guarantee for the supplier to get the guarantee cost by setting the rate of factoring return. Moreover, it establishes the single cycle newsvendor model with profit maximization as the goal to investigate the financing mode＇s effect on supply chain performance and efficiency and the rate of factoring return＇s effect on ordering decision. Research shows that the order-to-factoring mode can improve the supply chain performance for win-win. However, it doesn＇t have a significant influence on supply chain efficiency, which means that coordination still needs to play an important role. On the other hand, the retailer has willingness to give security to make his supply chain match supply and demand better, but it will reduce the retailer＇s revenue instead by setting the rate of factoring return.