Abstract: Accumulated capital pressure faced by the supplier due to the delay payment of the core enterprise will lead to the formulation of supplier chain financing system which consists of the suppler, the core enterprise and the bank. Based on the different scenarios of supplier’s initial capital and the credit period given by the bank, we develop three different models to capture three different cases of the supplier: no loan from the bank, loan from the bank and refund all within the credit period, loan that can’t refund all within the credit period. We identify the optimal ordering strategy of the core enterprise and the optimal produce strategy of the supplier under different conditions. We find that the supplier chain financing, to some extent, can achieve a tripartite win-win situation for the supplier, the bank and the core enterprise: through the delay payment and chain financing, the core enterprise and the supplier can release their capital pressure and also increase their profits; the bank can decrease the loan risk and expand the loan business.

Key words: supply chain finance, supplier chain financing, credit period, supply chain management

摘要： 供应链中由于核心企业延期付款而给上游供应商带来资金压力,供应商、核心企业以及银行组成供应商链式融资系统以缓解供应商资金压力。针对供应商初始资金以及银行给定信用期的不同情况,分别建立了供应商不贷款、贷款且在信用期内收回所有货款以及贷款但在信用期内未收回所有货款三种情形下的数学模型。通过分析得到了核心企业的最优订货策略和供应商的最优生产策略。研究表明供应商链式融资在一定程度上可以达到供应商、核心企业、银行三方共赢的效果:缓解供应商、核心企业资金压力并增加其利润,降低银行贷款风险扩大其贷款业务。

关键词: 供应链金融, 供应商链式融资, 信用期, 供应链管理