需求具有价格敏感性下的供应链融资模式选择研究

his paper considered a two-level finance-constrained supply chain including a producer and a retailer. In the supply chain, retailer faces financial constraints, its own working capital is not sufficient to pay for the order, and supplier is the core company which has high credit and enough working capital. So it is necessary for retailer to turn to supplier for delayed payment financing or confirmed warehouse financing. The supplier also needs to finance retailer to improve its own profit. Then a model of wholesale price contract is built which considered the end -consumer demand with price sensitivity. By using the Stackelberg game model, we find out manufacturers’ optimal wholesale price and retailers’ optimal order quantity both in the situation of decentralized decision-making and the situation of centralized decision-making. From the manufacturers’ perspective, we combine the confirmed warehouse financing and the trade credit financing under supply chain coordination. By comparison, we find out, with the change of elastic factor of demand, the manufacturer’s profit also changes in both of these financing models and the supplier can choose to provide the appropriate financing mode to achieve its own profit maximization. When the good’s market demand elasticity is high, providing delay payment financing model for retailer is more favorable for manufacturers. And then we give the manufacturer’s optimal financing model selection strategy.