Research On Operation Strategy Of Core Enterprise Based On Prepayments Financing Mode

Prepayments financing is one important mode of supply chain finance, becausethat it can help enterprises to solve the bottleneck problem of funding in procurementprocess and help the involved parties to increase profits, which has attracted muchattention and application. This thesis mainly made research on operation strategy inprepayments financing model of the core enterprise, trying to find a general operationscheme to realize profit maximization of the core enterprise, and so as to provide atheoretical reference for business decision-making.To achieve this purpose, firstly， the thesis systematic introduced the concept ofsupply chain finance and related basic theory such as commission agents, transactioncosts, and self-liquidating trade, analysis and comparison of three kinds of class supplychain finance financing model，namely，prepayments, inventories and accountsreceivable，which laid a theoretical foundation for the full text of the study.Secondly, based on prepayments tripartite financing model, participants in theanalysis of the expected profit, established the basis for considering-stochastic demandmodel, consider the repurchase of default and warranties repurchase particular modelimproved model; through the model comparative analysis, found that the size of thetotal supply chain profits ultimately depends on the size of the repurchase amount.Then, based on expected profit model, subsystems and individual decision-making, were obtained when a variety of profit maximization model parameterexpression; prepayment financing through traditional supply chain trading profits withthe contrast, obtained operation Prepaid receivable financing the participationconstraint; financing in prepayments, made a large number of core enterprise solutionrepurchase product strategy, namely breach of contract or through a buybackincentives, promotions and the formation of strategic alliances three improved schemereduces repo rate. Prepayments financing model for the theoretical study providesideas, but also to provide decision support for practical operation.Finally, done a case study based on the foregoing theoretical research. Partiesinvolved in the analysis of risk, based on the combination of the model presented ingeneral, and improve the operation of the three special programs; further into thesimulation data, obtained simulation results：namely, whether the system or individualdecision-making in improved program， the total supply chain profits, the coreenterprise and supplier expected profit is always greater than the total profits in based programs; core enterprise will choose to refine the program of individualdecision-making as the optimal operating strategy. Improved model also shows therelative role of the base model with optimized; For special model has a substitutioneffect; verified the improved scheme can be used as a reference prepayments financingoperation general scheme.