信用期限制条件下具有资金约束的库存管理优化模型研究

In recent years, financial supply chain business has gradually risen. This business mainly offers financial service for those enterprises lacking of enough cash flow and unable to get a loan from traditional channels. The enterprise blocked by funds could offer some entities such as inventory and account receivable as pledge to the financial institutions for the financial service. This could solve the capital bottleneck of the enterprise and contribute to the operation stabilization of the company and the whole supply chain. This research project will be implemented according to the following plan. At first, we will investigate the existing finance supply chain business and analyze the realization mechanism of the financing patterns. Then, by integrating the idea and method of the financing patterns into inventory management modeling, we will formulate inventory management models under credit period limitation and capital constraint,respectively for different product demands, different financing patterns and different behavioral choices. At last, we will study the optimization models and ordering policies of inventory operational management under different financing patterns, together with empirical studies. This research project could not only fill the theory gap of inventory management with capital constraint under limited credit period, but also provide effective solutions to funds management for SMEs, which can guarantee their fund safety and balance their operation of the supply and demand. Therefore, this research project has important theoretical value and urgent practical significance.

近年来，金融供应链业务逐渐兴起，该业务主要面向那些需要足够现金流同时又无法及时通过传统渠道获得贷款的企业，其利用企业库存以及应收账款等实物的质押，由融资机构向遭遇资金瓶颈的企业提供融资服务，对于解决企业资金瓶颈，维护企业以及供应链整体稳定运行起到了良好的效果。本项目拟首先通过对现有金融供应链业务的调查研究，分析其融资模式的实现机理，进而将其思想和方法融入到库存管理模型的研究中，分别建立信用期限制条件下不同产品需求、不同融资模式以及基于行为选择的具有资金约束条件的库存管理模型，研究不同融资模式下库存运作管理的优化模型和订货策略，并进行实证研究。本项目不仅可以弥补信用期限制条件下具有资金约束的库存管理领域的理论研究空白，还能为各中小企业的资金管理提供有效的解决方案，以保证企业的资金安全和供需运营平稳。因此本项目的研究具有重要的理论价值和迫切的现实意义。

库存管理问题一直都是供应链管理面临的非常重要的问题，长期以来，库存占用了企业大量的流动资金，对企业或供应链的绩效具有重要影响作用。供应链金融可以帮助供应链上遭遇资金瓶颈的企业渡过资金难关，维持整条供应链的正常运行，保持供应链的竞争力。研究信用期限制条件下具有资金约束的库存管理优化模型研究，对于供应链金融在我国的应用有着十分重要的意义。本报告介绍71471071项目课题在2015-2018年期间，对信用期限制条件下具有资金约束的库存管理研究情况。理论研究方面的主要内容包括：延期支付条件下关于易逝品的最优订货策略研究；银行融资或授信融资模式下资金约束型企业的最优运作策略研究；众筹融资模式下中小创新企业的最优运作策略研究；互联网金融模式下农业供应链中最优运作模式研究。截止2018年底，本项目发表学术期刊论文共17篇，其中国际重要期刊发表论文12篇，国内重要期刊发表论文5篇，另有2篇中文期刊文章录用待发表。本报告还对研究工作的学术交流情况、人才建设和研究生培养情况分别进行了介绍，并对供应链金融未来的研究方向进行了探讨。