Commodity Option And Risk Management Research On Agricultural Supply Chain Under Capital Constraint

As the basic guarantee for human’s survival and development,the agricultural supply chain not only have some prominent characteristics,such as seasonal production and harvest,regional storage and transportation,scattered sales and consumption,but also have some disadvantages in its complicated members who are easily influenced by most risk factors.Agricultural supply chain management in our country is still in the infancy,for members in supply chain have different lever,the infrastructure is weak and brittle,the intermediate links are in messy,and the coordination mechanism is bad.These poor disadvantages give rise to the low efficiency of the agricultural supply chain,even increased the uncertainties like the imbalance between supply and demand,the blocked logistical channels, asymmetry information, etc. All these seriously restrict the agricultural modernization in China.Research on the risk management for agricultural supply chain is appearing.Both the natural disaster risk and the man-made risk factors have been taken into consideration in this dissertation.Option contract is an effective risk management tool,which can improve trading flexibility and cooperation depth.In option model,option buyer can get flexible order quantity by paying some premium while option seller obtain certain production fund accordingly,which is valid for people to reduce default behavior,deepen cooperation and promote the stability of agricultural supply chain.Option contract has been employed to improve the tilapia supply chain of Foshan Jushi company in this paper based on summarizing the previous literature and research.In consideration of funding constraints premise agricultural products company,to build a two-stage option model by the composition of agricultural companies and agricultural cooperatives,and to explore the financial constraints under optimal order strategy.To make the model more realistic application,we further introduced agricultural supply chain loans,loans to consider funding constraints situation and further improve the model discussed in consideration of loans,the agricultural products company has wider significance of optimal order strategy. Then, the paper-based method of tilapia trading company in Foshan universally numerical simulation, and analysis of the optimal order policy under different circumstances to determine the model of supply chain optimization to improve the effectiveness and practicality,and universally Foshan Tilapia trading company proposed the development proposal.In this thesis, the characteristics of the option contract and produce organic integration of the financial supply chain and agricultural supply chain of organic integration,from ordering strategy,risk control strategy,numerical reasoning,policy advice and other point on the agricultural supply chain optimization problem is studied,in order to overcome contradictions existing option mode,and create a more rational agricultural development of the situation,to promote the construction of agricultural options market provides a good reference value.