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商业现金垫款是一种新兴的融资方式,特别适用于资金不足的中小型生产(零售)商。本文首次对资金受限的生产(零售)商在商业现金垫款模式下进行融资和库存联合决策的问题进行了研究,建立了在该模式下的报童模型。现金垫款模式下报童问题的目标函数不能转化为单决策变量的,这区别于贷款模式下的问题。为得到问题的最优解,文中分析了不同参数条件下的可行域,并针对不同情况给出了模型的最优决策,随后论证了最优决策与分配比例之间的关系。最后通过求解算例验证了结论的有效性并解释了其管理意义。
Commercial cash advances are a new form of financing that is particularly well-suited to under-financed small and medium-sized producers (retailers). This paper, for the first time, studies the issue of joint venture financing and inventory decision-making under the mode of commercial cash advances of limited-funded producers (retailers), and establishes a newsboy model in this mode. The objective function of the newsboy problem under the cash advances model can not be transformed into a single decision variable, which is different from the problem under the loan model. In order to get the optimal solution of the problem, the feasible region under different parameters is analyzed in this paper, and the optimal decision of the model is given for different situations. Then the relationship between the optimal decision and the distribution ratio is demonstrated. Finally, the validity of the conclusion is verified by solving a numerical example and its management significance is explained.