Research On Financing Decision And Coordination Strategy Based On Procurement Executive

In recent years, the development of logistics finance is getting to be a kind of financial information, the small and medium-sized enterprises' financing needs to keep information symmetry with banks or find third party as intermediary. But the credit rating of the current small and medium-sized enterprises is insufficient. So it's very difficult for them to loan from the bank. With the development of theory, such as the theory of financial logistics supply chain coordination, the theory of contract and the theory of risk management, inventory financing mode and warehouse financing receipt mode have been innovated. Procurement Executive financing mode is the innovation of advance payment financing mode, in which the logistics enterprise becomes an intermediate agent between bank and small businesses. It is the modern supply chain service which is different from traditional logistics service.Procurement executive financing mode is the forefront field of logistics finance,which is an effective way to solve the financing difficulty of small and medium enterprises under asymmetric information. It can achieve "win-win”situation.At present the study of logistics finance is focused on the traditional financing mode and the main research is loan-to-value ratio of inventory financing mode.Research of the new financing mode is little. The research on buy back contract to coordinate the supply chain mainly concentrated on the Parameter of specific supply chain structure or the design of a new contract. The research of the key problem of the application condition of the core enterprises' buy back contract is little.Given the demand of procurement executive is fluctuant randomly and the price of procurement executive is fluctuant randomly, the paper applies buy-back strategy and the theory of supply chain coordination and designs the risk-sharing mode of procurement execution. Firstly, the article investigates the loan-to-value ratio decisions of downside-risk-adverse under the two business modes. Secondly, the author respectively analyzes the conditions that contract parameters should be met to ensure the logistics enterprise, bank, financing enterprise participate in risk-sharing business mode of procurement executive.Research shows that buy-back strategy can optimize the supply chain under certain conditions, which provides scientific basis for the design of contract parameters of procurement executive and management ofsupply chain coordination.