Account Receivable Financing Of Supply Chain Finance Services Research

In the context of the supply chain, it has become an essential requirement for the stability of supply chain to enhance the financing ability and reduce the financing cost for small and medium enterprises through the innovative financial products. Supply chain finance(SCF) is a systematical project offered by commercial bank, providing capital for the supply chain and reducing related cost. SCF is a innovated financial product, which arises from the combination of the supply chain management and finance research.The innovative way of risk management in SCF is using the chattel or the rights in the production process of the supply chain as security, by which enterprises in up river and down river can all benefit from the excellent credit of the core enterprises. The innovative way of marketing in SCF is guiding by the medium and small enterprises market to solve their capital problem consequently.SCF promotes the goods flow, logistics flow and information flow to integrate effectively. To the enterprises, the financing problems can be solved*by SCF. And SCF makes the liquid money more effectively. Moreover, it reduces the risk of settlement, improves the professional level of management and efficiency. For financial institutions, through SCF could extend customer scope, open up new source of profit and reduce the risk of information asymmetry. To the logistics firms, can increase financial support functions, increase enterprise added value and enhance competitiveness.Firstly, the prologue mainly introduces the background and significance of selecting the topic, the research contents and method. Secondly, this article reviews the correlative research about the SCF to summarize the achievement. Thirdly, this article introduce the SCF model briefly, and divide it into three models:Advance payment Financing(APF), Inventory Financing(IF) and Accounts Receivable Financing(ARF).The article has as specific search to each model from demands, mechanism, benefits and risks of partners, compares the differences and summarizes the common characters of SCF models. And compare between the SCF model and loan model financing so that show the advantages of SCF. Fourthly, this article has quantitative investigation of ARF model which is a representative model of SCF. And establish the pricing game model between manufacturer and bank, using Stackelberg analysis method, and access to the pricing decision of different parties. Then establish the pricing the revenue model of the ARF model, and obtain the feasible domain of financing frequency. Finally, use the joint optimization method, finds the optimal solution of financing frequency, and develops the compensation strategy in accordance with Kaldor-Hicks Improvement.This article discuss the SCF on the basis of logistic management, theory of game, finance and so on. And make a quantitative and qualitative evaluation and integrate theory with practice so as to help people understand SCF better and provide decision-making support for financial institutions, upside and downside members of supply chain.