资金约束供应链的销售策略选择研究

doi:10.16381/j.cnki.issn1003-207x.2023.2069

摘要/Abstract

摘要：

资金短缺问题会导致企业难以正常运营，被迫重新调整管理决策，制约着供应链效率的提高。为研究外部融资时互补品供应链的销售策略选择问题，探讨捆绑销售模式的占优条件。本文在考虑银行信贷融资的前提下，构建了制造商和供应商的决策模型，探究了独立销售和捆绑销售下的最优互补产品价格，并通过对比分析，进一步探讨了互补品销售策略。研究结果表明：首先，随着市场规模的扩大，捆绑销售价格与折扣价格敏感系数的关系由正相关转变为负相关；其次，受需求变化的影响，当产品互补度较低、较高或适中时，制造商均可能会采用捆绑销售；再次，若供应链参与者协商定价，更强的议价能力不一定会激励供应商提高零部件价格。本文关注了企业融资行为对互补品供应链销售策略的影响，丰富了营销和运营管理相关研究理论，也有助于企业根据产品和金融市场变化，及时利用捆绑销售方式，提高决策有效性。

关键词: 资金约束, 供应链, 互补品, 运营决策, 捆绑销售

Abstract:

When facing a shortage of funds， firms cannot operate normally and have to formulate their management strategies again， thus reducing the efficiency of supply chains. Thus， most companies raise capital through external financing schemes， which incurs high debt or default risk. To enhance repayment capacity， some capital-constrained firms often employ bundling selling， bundling complementary products into packages and selling these to customers. Despite reducing uncertainty in demand and process， this bundling selling method might reduce the product prices and sales revenues as well， thus altering the firms’ strategic choices.To study the impacts of selling strategy within a supply chain under external financing modes， it focuses on a supply chain with complementary products and a decision model is built for a manufacturer and a supplier in presence of bank financing. Specifically， the manufacturer first determines the sales model， and subsequently the supply chain members respectively set component or product prices. Then， the manufacturer produces and sells the products， thereby generating sales. In this model， the optimal prices of complementary products under the independent and bundling selling situations are explored， and further the sales strategies are examined through comparative analysis.Through the model analysis， the results are summarized as follows. First， with an increase in market size， the link between the bundling sales price and the sensitivity to discounted price changes from positive to negative. Second， affected by market demand， the manufacturer is likely to choose bundling selling when the product complementarity is low， high， or moderate. Third， a stronger bargaining power does not necessarily incentivize the supplier to increase the component price when the supply chain participants negotiate the price. It focuses on the impact of financing programs on the selling strategy of a supply chain with complementary products， which enriches the studies on marketing and operations management， and also provides managerial insights for companies to know when and how to utilize bundling sales based on product and financial markets， thus improving the effectiveness of their decisions. In the future， it can be extended by considering the impact of other financing modes and loss attitudes.

Key words: capital constraints, supply chain, complementary goods, operation decision, bundling selling

中图分类号:

F273

聂福海,李电生. 资金约束供应链的销售策略选择研究[J]. 中国管理科学, 2026, 34(8): 150-159.

Fuhai Nie,Diansheng Li. Bundling Strategy in a Capital-constrained Supply Chain[J]. Chinese Journal of Management Science, 2026, 34(8): 150-159.

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