在保兑倉融資模式下供應商運用銷售獎勵機制於銷貨決策之研究

Abstract

保兑倉是一種結合物流和資金流的創新型融資商業模型。在保兑倉融資模式下，中小企業可以藉由供應鏈中核心企業的資產及信用來對銀行進行應付帳款融資，以解決可能的融資問題；而核心企業也可以實現批量銷售並增加銷售規模的效應；銀行則在透過協力之第三方物流商的監管及核心企業保證回購的前提下，可以降低其融資風險，並擴大其業務服務範圍；最後對於第三方物流商來說，原始的物流業務可擴展增加新型加值服務(包括監管、質押物評估…等)，除可在競爭激烈的物流市場中提升其競爭力，並可拉高獲利能力。 而不同的購銷契約會使得供應鏈成員在保兑倉融資模式下得到不同的效益。因此，本研究將針對保兑倉融資模式，在供應商與經銷商簽訂購銷契約，結合物流與金流的條件下，進行數量模型建構，先後求解原始保兑倉(簡單批發價格契約)及加入銷售獎勵機制後的保兑倉融資模式。主要探討供應商在加入銷售獎勵機制後，能否帶給自身及其他供應鏈成員更好的效益。除此之外，本研究也進一步探討保兑倉融資模式下，相關重要參數的變動及產品需求服從不同分配對供應商與經銷商各自的決策以及供應商、經銷商與銀行三方利潤之影響。 根據研究結果發現，透過銷售獎勵機制的加入，供應商的利潤可以比當提供簡單批發價格契約的利潤來的更高，且供應商可以藉由目標銷售值的變動，找出在經銷商願意接受銷售獎勵機制的情況底下，供應商的利潤能夠最大。而單就貸款利率來說，其值越高對於經銷商與銀行雙方之利潤會呈現正向關係，而對於供應商的利潤則會帶來負面影響。最後，在需求分配的影響性上，當產品需求服從常態分配時，因需求量比較集中，使得經銷商的訂貨量相較於服從均勻分配時來的低，而供應商的最佳目標銷售值在產品需求服從常態分配時也會比服從均勻分配時來的低。

Confirmed Warehouse is a innovative financing business model, which combines products flow and cash flow. In the financial model of confirming warehouse, small- and medium-sized enterprises (SMEs) can use the core enterprise’s assets and credit to do the payable financing from bank, in order to solve the financing problems which often occurred in the past. For the core enterprises, it can also achieve volume sales and increase scale effect. Under the regulation of logistics providers and buyback guarantee from the core enterprises, banks can reduce their financing risk, and expand its business into new area. As for logistics providers, it helps them develop towards value-added services and enhance their competitiveness in the highly competitive logistics market. The contract which use in financial model of confirming warehouse will affect the supply chain members’s benefits. Thus this study is to establish a quantitative model under financial model of confirming warehouse including the limitations of cash flow and products flow and to investigate whether supplier and others supply chain members can get better benefits after applying sales incentive mechanism. In addition, this study also explore how the finance related parameters and different distribution affect the profits of supplier , dealer and bank and decision-making of supplier and dealer. According to the results, adding sales incentive mechanism really does enhance the profits of supplier. And by changing target sales value , supplier can find the largest profits Under the agreement that dealer accept the sales incentives mechanism. And the interest rate has a positive correlation with dealer's and bank's profit, and it has a negative correlation with the supplier’s profit inversely. Finally, when demand follow normal distribution, because of the demand is more concentrated, the order quantity is lower than when demand follow uniform distribution. Therefore, the results of Optimal target sales value in demand follow normal distribution is smaller than when demand follow uniform distribution.