延迟支付方式下的存货质押融资服务定价模型

20071212:200752728.,.:100026788(2007)12200012071,1,2(11,200433;21,200135):,.,.:;;:F276:APricingModelforInventoryImpawnFinancingunderConditionsofPermissibleDelayinPaymentsZHUWen2gui1,ZHUDao2li1,XUZui2(11ManagementSchool,FudanUniversity,Shanghai200433,China;21Transport&CommunicationsSchool,ShanghaiMaritimeUniversity,Shanghai200135,China)Abstract:Thispaperstudiesthepricingmodelforinventoryimpawnfinancingbythirdpartlogisticsproviderwhensupplierpermitstheretailerdelayedpayments.Itformulatesthepricingmethodbasedontheretailerspolicyanalysis.Keywords:delayinpayments;inventoryimpawnfinancing;pricing:2007209226:(70432001):(1978-),,,,:,E2mail:[e-mail];(1946-),,,,,:,E2mail:[e-mail];(1979-),,,,:,.1,,.,.,[1].,,,.,,.,:.,,,,.,.,,,.,.,.Goyal[2],©1994-2009ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.[3].ChungChu[4,5]Gyoal,,Aggarwal.(,Ouyang[6];Chang[7]),.,,HwangShinn[8],SarkerJamal[9],SalamehAbboud[10],.ArcelusSrinivasan[11],Chang[12].,.,[13,14],.,,,,.,.,,;,,.2211:,,,,,.,.,.,,,....:D;I(t)t,0tT;M;Pi,i=1-3;Q;T;h;c;Ie;Ip(),IpIe;S;r,0r1;C;L.212Pi().,,,2200712©1994-2009ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(t),dI(t)dt=-D,I(T)=0,I(t)=D(T-t)),Q=I(0)=DT.:C=+++-.,,,=SPT,=hT0I(t)dtT=hDT2.,.1:P1,,,=cDT(1-r)T=cD(1-r),,,=cDT2(1-r)IpT=cDT(1-r)Ip(1)=cIeT0DtdtT=cDTIe2.,C1=ST+DTh2+cD(1-r)+cDT(1-r)Ip-cDTIe2(2)2:P2,M,TM,=cDTT=cD,,,=cIeT0Dtdt+cDT(M-T)IeT=cDIeM-T2,,C2=ST+DTh2+cD-cDIeM-T2(3)3:P3,M,TM,=cDTT=cD,,,=cD(T-M)2IpT(4)=cIeM0Dtdt+cIeT-M0DtdtT=cDIe[M2+(T-M)2]2T.,,312©1994-2009ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.=ST+DTh2+cD+cD(T-M)2IpT-cDIe[M2+(T-M)2]2T(5)213(2)(3)(5),,dC1dT=-ST2+Dh2+cD(1-r)Ip-12cDIe(6)d2C1dT2=2ST30(7)dC2dT=-ST2+Dh2+cDIe2(8)d2C2dT2=2ST30(9)dC3dT=-S+cDM2(Ip-Ie)T2+Dh2+12cD(2Ip-Ie)(10)d2C3dT2=2[S+cDM2(Ip-Ie)]T30(11)(7),P1,dC1dT=0,,T31=2SDh+2cD(1-r)Ip-cDIe,Dh+2cD(1-r)Ip-cDIe0(12)T31,Dh+2cD(1-r)Ip-cDIe0(13)(13),.(9)(11),P2P3,(8)(10),dC2dTT=M=dC3dTT=M,,T0().dC2dT=0,P2T32=2SDh+cDIe(14)T32M,2SDM2(h+cIe)(15)dC3dT=0,P3T33=2[S+cDM2(Ip-Ie)]Dh+2cDIp-cDIe,Dh+2cDIp-cDIe0(16)T33,Dh+2cDIp-cDIe0(17)(17),.Dh+2cDIp-cDIe0,T33M,2SDM2(h+cIe)(18),:11,:2SDM2(h+cIe),Dh+2cD(1-r)Ip-cDIe0,P1,T3;Dh+2cD(1-r)Ip-cDIe0,C(T3)=min{C1(T31),C2(T32)},P14200712©1994-2009ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(h+cIe),Dh+2cDIp-cDIe0,P1P3,T3;Dh+2cDIp-cDIe0Dh+2cD(1-r)Ip-cDIe0,P1,T3;Dh+2cD(1-r)Ip-cDIe0,C(T3)=min{C1(T31),C3(T33)},P1P3.:(12)(18).214,,Ip,.1,.2SDM2(h+cIe),T3(),Dh+2cD(1-r)Ip-cDIe0,IpcDDh+2cD(1-r)IeP2(),C1(T31)C2(T32)Ip,A1={Ip|C1(T31)C2(T32)}.2SDM2(h+cIe),T3(),Dh+2cD(1-r)Ip-cDIe0,IpcDDh+2cD(1-r)Ie.C1(T31)C3(T33),P1,Ip,A2={Ip|C1(T31)C3(T33)};C1(T31)C3(T33),P3,Ip,A3={Ip|C1(T31)C3(T33)},A3=…A2.,:21,,A4=Ip|IpIeIpcDDh+2cD(1-r)Ie,:2SDM2(h+cIe),maxIpL=cD(1-r)T31Ip,Ip{A1A4},2SDM2(h+cIe),maxIpL=max{L1,L2},,L1=maxIp{cD(1-r)T31Ip},Ip{A1A4}L2maxIpcD(M-T33)2IpT33,Ip{A3A4}31D=5000P,h=3PP,Ie=0101P,S=30,c=25P,r=0102,M=60P365.DM2(h+cIe)439,2SDM2(h+cIe).2,IpcDDh+2cD(1-r)IeIp010048,,A4={Ip|Ip0101},C1(T31)C2(T32)Ip01697,A1={Ip|Ip01697}.(1),cDT31(1-r)Ip,Ip=01697,,01697,.2D=5000P,h=3PP,Ie=0101P,S=30,c=25P,r=0102,M512©1994-2009ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.=10P365.DM2(h+cIe)12,2SDM2(h+cIe).2,IpcDDh+2cD(1-r)IeIp010048,,A4={Ip|Ip0101}.C1(T31)C3(T33)Ip01919,A2={Ip|Ip01919},Ip=01919,L1=1784;C1(T31)C3(T33)Ip01919,A3={Ip|Ip01919},Ip=01919,L2=0146.,01919,.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,,,;,,.,,,,,.:(1),,6200712©1994-2009ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(2),.(3).:[1].:[J].,2004,12:30-31.XuWenli.Itisdifficulttofinanceformediumandsmallenterprises:Abottleneckinthedevelopmentofchineseeconomy[J].ExplorationandFreeViews,2004,12:30-31.[2]GoyalSK.Economicorderquantityunderconditionsofpermissibledelayinpayments[J].TheJournaloftheOperationalResearchSociety,1985,36(4):335-338.[3]AggarwalSP,JaggiCK.Orderingpoliciesofdeterioratingitemsunderpermissibledelayinpayments[J].TheJournaloftheOperationalResearchSociety,1995,46(5):658-662.[4]ChungKJ.Atheoremonthedeterminationofeconomicorderquantityunderconditionsofpermissibledelayinpayment[J].ComputersandOperationsResearch,1998,25(1):49-52.[5]Ch