Research on the Combination Model of Supply Chain Financing and Credit Insurance Based on Risk Aversion

doi:10.12005/orms.2018.0275

Abstract

Abstract: Based on the supply chain constraint problem, this paper considers a financing system consisting of a capital-constrained retailer, a capital-unconstrained supplier, a risk-averse bank and an insurance company. We first build a risk-averse bank financing model and the combination model of bank financing and credit insurance, respectively. Then we provide the optimal decisions of the financing system members under the two models. Our study shows that the combination model of bank financing and credit insurance can effectively increase the retailer’s credit size as well as decrease the bank’s loss risk in comparison with the traditional risk-averse bank financing model. Therefore, the combination model of bank financing and credit insurance can bring strict Pareto improvement to the financing system. Finally, we use numerical examples to examine the effectiveness of the conclusion.

Key words: supply chain financing, risk aversion, credit insurance, ordering decision

摘要： 针对供应链的资金约束问题,考虑了由一个资金约束的零售商、资金充足的供应商、风险规避型银行以及保险公司组成的供应链融资系统,分别构建了风险规避型银行融资模型以及银行融资与信用保险的组合模型,给出了两种模型中供应链融资系统成员的最优决策。研究表明:与传统风险规避型的银行融资模型相比,银行融资与信用保险的组合模型能够有效地增加零售商的融资规模,并降低银行的损失风险,从而信用保险能够给整个供应链融资系统带来严格帕累托改进。最后,通过数值算例说明了研究结论的有效性。

关键词: 供应链融资, 风险规避, 信用保险, 订货策略

CLC Number:

JIN Wei, LUO Jian-wen. Research on the Combination Model of Supply Chain Financing and Credit Insurance Based on Risk Aversion[J]. Operations Research and Management Science, 2018, 27(12): 19-27.

金伟,骆建文. 考虑风险规避的供应链融资与信用保险组合模型研究[J]. 运筹与管理, 2018, 27(12): 19-27.

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