Supply Chain Finance Decision Analysis with a Partial Credit Guarantee Contract

Considering the risk of SMEs, financial institutions have been cautious about the financing of SMEs. Supply chain finance, through the integration of information chain, capital chain, logistics chain, and so on, forms an internal circulation ecosystem, which is a breakthrough to solve the financing difficulties of SEMs. In the development of supply chain finance in China, the evaluation of the enterprise’s credit, collateral is basically carried out by the bank or the bank commissioned by third parties. Therefore, the main mode of supply chain finance in China is banking-oriented model. At the same time, as the most powerful leading enterprise in the supply chain, the core enterprise can help to improve the whole supply chain with the advantage of information and credit. The credit guarantee financing model, providing credit guarantee for the downstream retailers, gradually appeared.

In the supply chain, only a small number of scholars consider the impact of financial constraints on the supply chain decisions. The research about the decision-making of three echelon supply chain, retailer-manufacturer-bank, is also less. In this paper, the credit guarantee contract is integrated into the supply chain finance model, to study the decision-making of supply chain finance.

This paper studies the decision-making problem of three echelon supply chain, retailer-manufacturer-bank, in centralized and decentralized systems. Through the calculation, it is proved that under the credit guarantee of the core enterprise, the retailer has the optimal ordering strategy, and the core enterprise has the optimal wholesale price. Besides, the optimal profit of the SCF system in centralized system is always higher than the sum of the three SCF participants’ optimal profit in the decentralized system. The retailer’s loan coefficient and the credit guarantee coefficient can narrow the optimal profit gap between the decentralized and centralized system to a certain extent. It is embodied in two aspects. On the one hand, when the retailer’s loan coefficient is consistent with the wholesale price, that the retailer’s loan amount is 0, the optimal profit of the SCF system in centralized system is the same as the sum of the three SCF participants’ optimal profit in the decentralized system. Considering that the principal and interest of the retailer are the retailer’s total sales when the supply chain financial system is balanced, i.e. the retailer’s profit is zero. Hence, the retailer’s loan coefficient can narrow the optimal profit gap between the decentralized and centralized system to a certain extent. On the other hand, the smaller λ is, the narrower optimal profit gap between the decentralized and centralized system is. Considering that the bank’s expect profit is negative when the credit guarantee coefficient is too small, the credit guarantee coefficient can narrow the optimal profit gap between the decentralized and centralized system to a certain extent. There are also shortcomings in this paper. In this paper, the decisions of parameter a and λ are not taken into account in the game model, but the influences on the game result are analyzed. On the other hand, this paper considers a simpler supply chain model. The actual situation is that supply chain finance financing is facing a more complex supply chain system, and involves dynamic evolution.

Article by Yueliang Su and Baoyu Zhong,from South China University of Technology, Guangzhou, China

Full access: http://mrw.so/LnGxX

Identifying Sustainable Practices for Tapping and Sap Collection from Birch Trees

Tapping and collecting sap from birch trees ( Betula , sp.) for the production of beverages and syrup is gaining increased levels of interest. Although the practice of tapping birch trees and collecting sap has been ongoing for millennia across the world, there remain some critical data needed in order to make science-based decisions about the production practices required to optimize yields and ensure sustainable outcomes are achieved in the long-term. In this study, experiments were conducted to determine two pieces of information essential to identify practices necessary to ensure tapping trees for birch sap collection were both sustainable and profitable—the selection of the time to initiate tapping birch trees to obtain maximum yields, and the volume of nonconductive wood (NCW) associated with taphole wounds in birch trees. The yields obtained from various timing treatments varied between sapflow seasons, but indicated that using test tapholes to choose the appropriate ti

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Incorporation of High-Altitude Balloon Experiment in High School Science Classrooms

High-altitude balloon is a balloon, filled usually with helium or hydrogen that ascends into an area called “near space” or stratosphere. The most common type of high-altitude balloons are weather balloons. Other purposes include use as a platform for experiments in the upper atmosphere. Modern balloons generally contain electronic equipment such as radio transmitters, cameras, or satellite navigation systems, such as GPS receivers. The mission of the High-Altitude Balloon Experiment (HABE) is to acquire supporting data, validate enabling technologies, and resolve critical acquisition, tracking, and pointing (ATP) and fire control issues in support of future space-based precision pointing experiments. The use of high-altitude balloons offers a relatively low-cost, low-vibration test platform, a recoverable and reusable payload, worldwide launch capability, and a 'near- space' emulation of the future space systems operational scenarios. More recently, several university

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Esophageal Carcinogenesis

Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=50380#.VDy9v1fHRK0 Author(s) Naoki Watanabe 1 , Masahito Shimizu 2 , Takahiro Kochi 2 , Yohei Shirakami 2 , Takuji Tanaka 1,3* Affiliation(s) 1 Department of Diagnostic Pathology (DDP) & Research Center of Diagnostic Pathology (RC-DiP), Gifu Municipal Hospital, Gifu, Japan . 2 Department of Internal Medicine/Gastroenterology, Gifu University Graduate School of Medicine, Gifu, Japan . 3 Department of Tumor Pathology, Gifu University Graduate School of Medicine, Gifu, Japan . ABSTRACT Esophageal cancer is the sixth leading cause of cancer death and remains one of the least survivable cancers. Esophageal cancers show wide variations in incidence in different pop

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