Research On Pricing And Financing Strategy Of Dual-channel Supply Chain With Capital Constraints

With the rapid development of the entire electricity business industry,many manufacturing enterprises want to obtain potential customers and increase market share.Beside the traditional retail channels,they build the addition of network channels for product direct sales,which forms the dual-channel distribution of the supply chain system.On the other side,in order to alleviate the conflict,manufacturing enterprises of the dual channel sale heterogeneous and alternative products in two different channels.However,with the development of new channels and the potential increase in market demand,manufacturing enterprises and downstream retail enterprises will face enormous financial pressure,dual-channel supply chain members are therefore in a state of risk aversion.Based on this,this paper studies the problem of how to determine the financing strategy to maximize the profitability of the member companies of the dual channel supply chain when faced with the shortage of funds,and consider the substitutes of the dual channel products respectively and the impact of manufacturer 's risk attitude on the Optimal Decision-making of funds in double-channel supply chain.Firstly,we study on the operation strategy of alternative product dual-channel supply chain with retailer's capital restraint Retailer.We analyzed the optimization model of the deferred payment under the capital constraint,and the impact of dual channel product alternatives on retailer financing decisions.Research shows that the increase in product substitution will exacerbate the conflict between the two channels and reduce the revenue of retailers,manufacturers and the entire supply chain.When the retailer has a financial constraint,the manufacturer can effectively coordinate the dual channel supply chain by providing an extension payment contract,but the coordination effect is cost to the manufacturer and the manufacturer's profit.Secondly,we study on the operation strategy of alternative product dual-channel supply chain with manufacturer's capital restraint.We analyzed the optimization model of the deferred payment under the capital constraint,and the impact of dual channel product alternatives on retailer financing decisions,Research shows that,the relative size of the bank's interest rate and price discount factor has a large impact on the choice of the manufacturer's financing model.At the same time,with the increase in product substitution,retailers and manufacturers' profits are declining under the advance payment strategy,and under the bank financing strategy,when the degree of product substitution is large enough,the manufacturer's profit will be substantially reduced,while the retailer's profits will increase significantly.Finally,taking into account with the risk of capital constraints of the manufacturer's dual channel supply chain operation strategy research.This part examines how manufacturers' and retailers will make decisions and how manufacturers' risk aversion levels affect the choice of manufacturers' financing under the non-financing model,the retailer's prepayment model,and the bank financing model,when considering the manufacturer's financial constraints.Research shows that,when manufacturers finance through different financing models under financial constraints,risk-neutral retailers are more likely to work with risk-averse manufacturers,but manufacturers with higher risk aversion couldn't get optimal profit.