Study On Financing Decisions Of Logistics Enterprises In Confirming Storage Mode

The confirming storage financing mode is a kind of typical model of logistics financial modes, can effectively alleviate the liquidity constraints of small and medium-sized enterprises(SMEs), reduce the manufacturer's inventory, improve logistics business volume of logistics enterprises, support financial services in the new field to the capital providers, and speed up business flow, logistics flow, capital flow and information flow in the industrial chain. In recent years with the introduction of "on the small loan company pilot guidance" and the establishment of private banks, our country's financial system began to allow the coexistence and common development of a variety of financial institutions. In the face of strong financing needs of SMEs, the loan amount that logistics enterprises provide to SMEs may be further expanded. In view of the development trend of financial liberalization and the possibility of future logistics financial market situation, this paper assumes that our country's financial policy allows large logistics enterprises to provide independent financial services. Through a comparative analysis of the financial mode of bank providing financial services and the financial mode of logistics enterprises providing financial services, respectively under the condition of no quantity discount and quantity discount, this paper researched dealer's order quantity decision and logistics enterprise's financing decision. How logistics enterprises will choose in the face of the roles of two confirming storage financing modes.Firstly, it analyzed the application environment of confirming storage service and the risks that may occur during the operation of confirming storage, discussed the conditions of logistics enterprises to operate confirming storage service, and compared the financial mode of bank providing financial services and the financial mode of logistics enterprises providing financial services from qualitative aspects.Secondly, under the condition of no quantity discount, based on the newsboy model, it constructed the expected profit models of confirming storage's participants, and determined optimal order quantity of the dealer in uncertain market demand. Considering manufacturer's default risk and the opportunity cost of financing funds, it compared the logistics enterprise's expected profit in these two confirming storage modes, and analyzed the financing service decision of the logistics enterprise.Finally, under the condition of the manufacturer's quantity discount, it analyzed the dealer's optimal order quantity in uncertain market demand when the discount point in different range. Considering manufacturer's default risk, market volatility risk, the opportunity cost of financing funds and quantity discount, it compared the logistics enterprise's expected profit in these two confirming storage modes, and analyzed the logistics enterprise's financing service decision in different range of financing rate.