Decision-Making of Budget Constrained Manufacturers Investing in Upstream Suppliers Under the Supply Risk of New Technology
Recently,the competitive situation of high-tech industry has been further divided and expand-ed,and the cooperation between upstream suppliers and downstream manufacturers to create product value has become the key to the success of new products.Based on the supply risk caused by the uncertainty of new technology research and development of upstream suppliers,this paper studies the optimal resource allocation strategy of manufacturers investing in suppliers under budget constraints.Firstly,the influence of technology maturity,R&D effort cost of suppliers and financial support of downstream manufacturers on the success of new technology research and development is analyzed,and the R&D success rate function under the complementar-ity of upstream and downstream technologies is constructed.Then,with the help of constructing the game mod-el of manufacturers and suppliers in three stages:Capital investment stage,R&D innovation stage and product listing stage,and comparing and analyzing the effects of single-source investment and decentralized investment on product wholesale price,supplier's effort level,technology success rate and manufacturer's profit.Finally,the optimal investment strategy choices under manufacturer budget constraints are obtained.The findings show that the success rate of supplier new technology R&D always increases with the amount of financial support.Under a single-source investment model,manufacturers allocate their entire budget to upstream suppliers to a-chieve the highest success rate for new technologies.In contrast,under a diversified investment strategy,man-ufacturers tend to invest all funds in suppliers with higher research efficiency when the budget is relatively small.Only with a larger budget,the manufacturer distributes funds evenly between two suppliers.Additional-ly,comparing single-source and diversified investment strategies reveals that as product market competition in-tensifies,diversified investment requires more funds.Thus,under similar budget constraints,manufacturers are more inclined to invest in only one supplier.Finally,by comparing the social welfare of the two investment models,it can be observed that policy recommendations are made from three aspects:Government support for manufacturing innovation,credit support for manufacturers from banks and other financial institutions,and the application of new technologies to assist manufacturers in investment decision-making.
new technologysupply riskbudget constraintsinvestment decisionR&D cooperation
万方数据
维普
