| 资金约束零售商的订购、促销与融资协同决策分析 |
| Joint decision-making of a capital-constrained retailer on ordering, promotion and financing |
| 摘要点击 1499 全文点击 0 投稿时间：2018-06-06 修订日期：2018-12-18 |
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| 中文关键词 报童问题;促销管理;资金约束;融资决策 |
| 英文关键词 Newsvendor problem; promotion management; capital constraint; financial decision |
| 基金项目 国家自然科学基金项目 |
| 作者 | 单位 | 邮编 | | 代建生 | 昆明理工大学 | 650093 | | 牛清洁 | 重庆大学 | |
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| 中文摘要 |
| 在零售商实施促销努力改善市场需求下，探讨了零售商的融资、订购及促销协同决策问题。构建了资金约束且促销影响需求的报童模型，分别针对有无外部融资机会两种情形，刻画了零售商在不同初始资金和贷款利率下有关商品订购、促销和融资的运营策略，以及是否促销和对外融资的临界条件。通过敏感性分析探讨了零售商的初始资金、金融市场利率、销售价格和采购价格等因素对零售商运营策略及收益的影响。在此基础上，对两种情形下零售商的运营策略、期望收益以及相关因素对零售商策略和收益影响程度的大小进行了比较分析。最后，进一步讨论了零售商对外融资和开展促销活动的条件。本研究有助于解释与促销有关的部分经济现象，并为资金约束零售商的融资及运营管理提供理论借鉴。 |
| 英文摘要 |
| This paper investigated joint decision-making of a retailer on financing, inventory and promoting, where the retailer can exert promotional effort to improve market demand. A newsvendor model was constructed with promotion-dependent demand and with capital constraint. It explored the optimal strategies of the retailer on financing, inventory and promoting in the absence and in the presence of financing, respectively. Besides, it characterized the threshold conditions on financing and promotion, i.e., in what situations the retailer should implement promotional activities, and in what situations the retailer should borrow from the financial market. It explored as well the impact of the factors, such as initial capital of the retailer, interest rate of the financial market, the retail price and the wholesale price and so forth, on the strategies and income of the retailer. Furthermore, it comparatively analyzed the strategies, profits of the retailer, and impact degrees of the factors mentioned-above on the strategies, profits of the retailer between in case of financing and of no financing. Lastly, it discussed the factors which can exert impact on decisions about financing and promotion of the retailer. It is helpful to explain some economic phenomena related to sales promotion, and can provide theoretical references for finance and operations management of the retailers confronted with capital constraint. |
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