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论文编号：	13620
作者编号：	1120180929
上传时间：	2022/12/5 11:04:15
中文题目：	电商平台主导的资金约束供应链融资与运营策略研究
英文题目：	Financing and Operation Strategy of Capital-constrained Supply Chain Led by E-commerce Platform
指导老师：	方磊
中文关键字：	电商平台；资金约束供应链；销售模式；价格竞争；服务水平竞争
英文关键字：	E-commerce platform; capital-constrained supply chain; sales mode; price competition; service level competition
中文摘要：	随着电子商务的出现和不断发展，电子商务平台演化出了多种销售模式，其中，最常见的包括由第三方平台提供的转售模式和寄售模式，还有商家自己搭建在线平台的直营模式。多样化的在线销售模式为商家们提供了不同的选择。同时，在线交易量的逐年上升吸引了越来越多的商家加入线上市场，也出现了越来越多的电子商务平台，造成了商家和商家之间、平台和平台之间激烈的竞争，在竞争环境下的运营决策更为复杂。此外，资金约束常常是制约在线商家发展的重要因素，不同的融资方式对于商家在线销售模式等运营决策有不同的影响，同时商家的不同资金水平对于商家和商家之间、平台和平台之间的竞争格局也会产生影响。本文以电商平台主导的资金约束供应链为研究对象，考虑不同的供应链结构下，供应链成员的最优融资与运营策略，以及资金约束对决策的影响，为现实中不同环境下的电商平台和零售商提出融资与运营策略建议。 基于电商平台主导的资金约束供应链的现实背景，本文对现有的电商平台运营策略研究和资金约束供应链研究进行梳理，分析研究不足，提炼研究问题，以博弈论和数值仿真等研究方法为基础，对具体问题进行建模求解和比较分析，得出对应的管理启示。本文主要包括以下四个研究工作： 首先，考虑由一个电子商务平台和一个资金约束的零售商组成的供应链。平台有两种销售模式：转售模式和寄售模式。零售商可以通过转售模式、寄售模式或两种模式进行销售。同时，资金约束的零售商可以通过向银行或平台融资来完成订货。通过求解三种销售模式中不同融资方式下零售商和平台的最优决策，比较了每种销售模式下的最优融资方式。研究结果表明，无论在哪种销售模式下，平台总能提供比银行更低的利率，零售商和平台在平台融资下利润更高。 其次，考虑由一个资金约束的零售商和一个电子商务平台组成的双渠道供应链。零售商通过线下直营渠道和电商平台销售其产品。电商平台可以提供寄售或转售两种销售模式，并为资金约束的零售商提供贷款融资。通过分别求解在线上渠道选择不同的销售模式下，平台和零售商的最优决策和利润，分析了零售商和平台的销售模式偏好。此外，还进一步扩展了预付款策略和非合作融资策略的模型，提出了管理见解。结果表明，最优订货量和批发价格对零售商和平台的销售模式偏好有较大影响。此外，如果批发价和初始资金较高，预付款策略是平台更好的选择。如果平台采用非合作融资策略，平台总是倾向于选择转售模式，而零售商总是倾向于选择寄售模式。 再次，考虑两个竞争零售商从上游购买产品并分别通过两个寄售平台销售给消费者。这两个零售商在零售价格上存在竞争，同时两个寄售平台在服务水平上存在竞争。任何一个零售商资金约束，都可以寻求外部融资，融资利息会造成采购成本的不对称。研究结果表明，与两个零售商都资金充足的情形相比，当其中一个零售商发生资金约束时，该零售商对应的平台的服务水平的变化和零售价格的变化取决于服务成本系数和需求对对手服务水平的敏感度；当零售商发生资金约束时，一个高的利率会使对应平台采取激进的服务水平调整策略、零售商采取激进的价格调整策略，这反而对零售商是有益的；如果一个零售商资金约束，而另一个零售商资金充足，那么在较高的利率下，潜在市场需求少的零售商的价格可能会高于潜在市场需求多的零售商。 最后，考虑两个竞争零售商从上游购买产品并分别通过各自的直营平台销售给消费者。两个零售商在各自直营平台的服务水平和零售价格两个维度进行竞争。任何一个零售商资金约束，都可以寻求外部融资。研究结果表明，当零售商的资金约束不严重时，无论潜在市场需求是多是少，其利润都可能高于资金充足时的利润；潜在市场需求较少的零售商发生轻微的资金约束时，其利润可能会高于对手零售商的利润。 本文的创新之处包括：首先，本文将融资决策与销售模式选择相结合，探索融资决策对销售模式的影响，拓展了平台销售模式选择领域的研究；其次，本文考虑了资金约束对零售商的价格和平台的服务水平两个维度竞争的影响，丰富了存在竞争的资金约束供应链领域的研究。本文的研究结论为现实中不同供应链结构下的电商平台和资金约束零售商的融资与运营决策提出管理建议与指导。
英文摘要：	With the emergence and continuous development of e-commerce, e-commerce platforms have evolved a variety of sales modes, the most common of which include the resale mode and the consignment mode provided by third-party platforms, as well as the direct sales mode where the sellers build their own online platforms. Diversified online sales modes provide sellers with different choices. At the same time, the increase in online transaction volume has attracted more and more sellers to join the online market, and more and more e-commerce platforms have emerged, resulting in fierce competition not only between sellers but also between platforms. Operating decisions in a competitive environment are more complex. In addition, financial constraint is often an important factor restricting the development of online sellers. Different financing methods have different impacts on operational decisions such as online sales modes of sellers. At the same time, different capital level of sellers affects the competitive landscape between sellers and between platforms. This paper takes the capital-constrained supply chain led by the e-commerce platform as the research object, considers the optimal financing and operation strategies of supply chain members under different supply chain structures, and the impact of financial constraints on decision-making, proposes suggestions on financing and operation strategies for e-commerce platforms and retailers in different environments. Based on the realistic background of the capital-constrained supply chain led by the e-commerce platform, this paper sorts out the existing research on operation strategy of e-commerce platform and the capital-constrained supply chain, analyzes the gap of research, and refines the research problems, bases on research methods such as game theory and numerical simulation, then carries out modeling and comparative analysis of specific problems to obtain corresponding management inspirations. This paper mainly includes the following four research works: Firstly, consider a supply chain consisting of an e-commerce platform and a capital-constrained retailer. The platform has two sales modes: resale mode and consignment mode. The retailer can sell through a resale mode, a consignment mode, or both. At the same time, the retailer with financial constraints can complete purchase by financing from a bank or the platform. By solving the optimal decisions of the retailer and the platform under different financing methods in the three sales modes, the optimal financing methods under each sales mode are compared. The research results show that regardless of the sales mode, the platform can always offer lower interest rates than bank, the retailer and the platform are more profitable under platform financing. Secondly, consider a dual-channel supply chain consisting of a capital-constrained retailer and an e-commerce platform. The retailer sells its products through offline direct sales channel and the e-commerce platform. The platform can offer either consignment or resale sales modes, as well as loan financing for the retailer. By solving the optimal decisions and profits of the platform and the retailer under different sales modes of online channel, the sales mode preferences of the retailer and the platform are analyzed. In addition, the modes for prepayment strategies and non-cooperative financing strategies are further extended to provide management insights. The results show that the optimal order quantity and wholesale price have greater impacts on the sales mode preferences of the retailer and the platform. Also, if the wholesale price and initial capital are higher, the prepayment strategy is a better choice for the platform. If the platform adopts a non-cooperative financing strategy, the platform always tends to choose the resale mode, while the retailer always tends to choose the consignment mode. Thirdly, consider two competing retailers purchasing products from upstream and selling to consumers through two consignment platforms, respectively. The two retailers compete on retail prices, while the two consignment platforms compete on service levels. Any retailer with financial constraints can seek external financing, and financing interest will cause asymmetry in procurement costs. The research results show that, compared with the situation where both retailers are capital-sufficient, when one of the retailers is capital-constrained, changes in the service level of the corresponding platforms and changes in retail prices depend on the service cost coefficient and the sensitivity of demand to the rival’s service level; when retailers have financial constraints, a high interest rate will cause the corresponding platforms to adopt aggressive service level adjustment strategies and retailers to adopt aggressive price adjustment strategies, which is beneficial to platforms and retailers; if one retailer is capital-constrained and another has sufficient funds, then at higher interest rates, retailer with less potential market demand may command higher prices than retailer with more potential market demand. Fourthly, consider two competing retailers purchasing products from upstream and selling to consumers through their respective direct sales platforms. The two retailers compete on service level of their respective direct-operated platforms and retail price. Any retailer with financial constraints can seek external financing. The results show that when a retailer’s capital constraints are not serious, no matter whether the potential market demand is large or small, its profits may be higher than those when funds are sufficient; when a retailer with less potential market demand has a slight financial constraint, its profit may be higher than that of a rival retailer who with more potential market demand. The innovations of this study include: firstly, this study combines financing decision with sales mode selection, explores the impact of financing decision on sales mode selection, and expands the research on platform sales mode selection. Secondly, this study considers the impact of capital constraints on the competition of retailers’ prices and platforms’ service levels, which enriches the research in the field of capital-constrained supply chain with competition. This paper proposes management suggestions and guidance for the financing and operation decisions of e-commerce platforms and capital-constrained retailers under different supply chain structures.
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