The Coordination Mechanism of Supply Chain Finance Based on Tripartite Game Theory

doi:10.1007/s12204-016-1735-y

Abstract

Abstract: Supply chain finance (SCF) is concerned because of its service efficiency for the real economy. Beside the bank, some enterprises have provided the SCF service. E-commerce platform firms develop small and micro loan system in China. A given small enterprise can apply for a loan through its platform. Based on the latest SCF developments and the relevant literature, this study focuses on the coordination mechanism of SCF. We construct a game theory model including supplier, retailer and financial service provider to analyze the decision making of them. We find the optimal solution to the supplier, retailer and financial service provider.

Key words: supply chain finance (SCF)| coordination mechanism| tripartite game| supply chain

摘要： Supply chain finance (SCF) is concerned because of its service efficiency for the real economy. Beside the bank, some enterprises have provided the SCF service. E-commerce platform firms develop small and micro loan system in China. A given small enterprise can apply for a loan through its platform. Based on the latest SCF developments and the relevant literature, this study focuses on the coordination mechanism of SCF. We construct a game theory model including supplier, retailer and financial service provider to analyze the decision making of them. We find the optimal solution to the supplier, retailer and financial service provider.

关键词: supply chain finance (SCF)| coordination mechanism| tripartite game| supply chain

CLC Number:

F 224

ZHAO Jinshi1,2* (赵金实), DUAN Yongrui3 (段永瑞). The Coordination Mechanism of Supply Chain Finance Based on Tripartite Game Theory[J]. Journal of shanghai Jiaotong University (Science), 2016, 21(3): 370-373.

References 18

[1]	YESCOMBE E R. Principles of project finance [M].San Diego: Academic Press, 2014: 443-480.
[2]	LIU X. Study on subjective credit risk in moral hazardof supply chain finance [C]//2012 International Conferenceon Software Engineering, Knowledge Engineeringand Information Engineering. Berlin: Springer,2012: 845-851.
[3]	FELLENZ M R, AUGUSTENBORG C, BRADY M,et al. Requirements for an evolving model of supplychain finance: A technology and service providers perspective[J]. Communications of the IBIMA, 2009, 10:227-235.
[4]	HU G H, LI F. Study on the function of supply chainfinance for SMEs financing [C]//Proceedings of the 5thInternational Annual Conference on WTO and FinancialEngineering. Hangzhou: [s. n.], 2008: 247-252.
[5]	WANG D, WANG B S. Study of the supply chain financeoperational risk [C]//2011 International Conferenceon Computer Education, Simulation and Modeling.Berlin: Springer, 2011: 434-440.
[6]	ZHANG L, HU H, ZHANG D. A credit risk assessmentmodel based on SVM for small and medium enterprisesin supply chain finance [J]. Financial Innovation,2015(1): 1-21.
[7]	JURGENS K. Financing for Turkish small andmedium-sized enterprises: SMEs restructuring, businessplans, and value-adding chains as tools[C]//Innovation Policies, Business Creation and EconomicDevelopment. NY: Springer, 2009: 233-254.
[8]	RANDALL W S, FARRIS II M T. Supply chain financing:Using cash-to-cash variables to strengthenthe supply chain [J]. International Journal of PhysicalDistribution & Logistics Management, 2009, 39(8):669-689.
[9]	YANG M S. Research on supply chain finance pricingproblem under random demand and permissible delayin payment [J]. Procedia Computer Science, 2013, 17:245-257.
[10]	HE X J, TANG L Y. Exploration on building of visualizationplatform to innovate business operation patternof supply chain finance [J]. Physics Procedia, 201233(2): 1886-1893.
[11]	YANG H L, YU Y, ZHA Y, et al. Optimal financingorder decisions of a supply chain under the retailer’sdelayed payment [J]. Mathematical Problems in Engineering2014. http://dx.doi.org/10.1155/2014/764531(published online).
[12]	SRINIVASA RAGHAVAN N R, MISHRA V K. Shorttermfinancing in a cash-constrained supply chain [J].International Journal of Production Economics, 2011,134(2): 407-412.
[13]	MAHATA G C, Mahata P. Analysis of a fuzzy economicorder quantity model for deteriorating itemsunder retailer partial trade credit financing in a supplychain [J]. Mathematical and Computer Modelling,2011, 53(9/10): 1621-1636.
[14]	WU K. An innovative model of supply chain finance[C]//Proceedings of the 3rd International Conferenceon Risk Management & Global E-Business. Korea:[s. n.], 2009: 492-496.
[15]	LIU X. A multiple criteria decision-making methodfor enterprise supply chain finance cooperative systems[C]//2009 Fourth International Conference onSystems. [s. l.]: IEEE, 2009: 120-125.
[16]	PFOHL H-C, GOMM M. Supply chain finance: Optimizingfinancial flows in supply chains [J]. LogisticsResearch, 2009, 1(3/4): 149-161.
[17]	PAN Y M, ZHAO Y. Study on setting up the creditrisk assessment model of logistics finance [C]//2010International Conference on Logistics Systems and IntelligentManagement. [s. l.]: IEEE, 2010: 1991-1994.
[18]	ANNADURAI K, UTHAYAKUMAR R. Analysis ofpartial trade credit financing in a supply chain byEOQ-based model for decaying items with shortages[J]. International Journal of Advanced ManufacturingTechnology, 2012, 61: 1139-1159.