Value of the transaction from the Perspective of Research on Supply Chain Partnership _11934.doc

Value of the transaction from the Perspective of Research on Supply Chain Partnership Summary: Supply Chain Partnership has been the focus of the study the supply chain, the existing research is based on the internal operation of businesses and resources, the concept of transaction cost theory, the theory, the former from the inside to minimize transaction costs, but rather to the latter from the inside to maximize the value of the starting , both of which overlook the internalization of the supply chain costs and value of the transaction. In addition, the supply chain collaboration is not taking into account the members of the research enterprise within and between the two aspects of member enterprises. Therefore, the value of this transaction-based perspective of the supply chain partnerships in conducting research based on transaction value perspective of supply chain relationship model, with a view to the supply chain cooperation between the research to provide a new perspective. Keywords: supply chain Supply chain collaboration transaction value Since the 90s of last century, due to rapid scientific and technological progress and the development of productivity, customer consumption gradually diversified and personalized. Based on time and knowledge of competition forcing companies to go it alone must change the way the play to their strengths on the basis of complementarity with other firms to form partnerships, competition among enterprises to gradually shift the competition in the supply chain, supply chain management has become a academic and business researchers. Supply Chain Management Overview In the study of supply chain management, supply chain cooperation between the research has been the focus of many scholars at home and abroad on the Supply Chain Partnership conducted a study on the suppliers and manufacturers, supply chain, through close co-operation to form a competitive advantage. Existing research is mainly based on the inner workings of business transaction cost theory (TCE) and resource concept theory (RBV), TCE that the Supply Chain Partnership was established to reduce transaction costs, RBV that supply chain collaboration in order to maximize the internal value. Although the TCE and the RBV have made a lot of results, but still can not fully explain the relationship between supply chain collaboration, because, TCE is starting to minimize transaction costs, RBV is to maximize the internal value from the start, TCE and RBV are based on business intrinsic goals, while ignoring the supply chain partnerships in the internalization of costs and value of the transaction. Scholars have recognized that simply can not rely on a perspective to explain the alliance and other cooperative mode of cooperation in the study must use a more dialectical, objective, comprehensive perspective, this perspective should also take into account within the enterprise and between enterprises, also taking into account the cost and value, which can be fully taken into account in the study transaction costs (TC), transaction value (TV), internalizing the cost (HC) and the internalization of values (HV). As the value of the transaction-based perspective (TVL) to simultaneously take into account transaction costs, transaction value, internal costs and internalization of values, and can supply chain member companies from both within and between member enterprises analysis, therefore, this article from the value of the transaction perspective to analyze the supply chain partnership with a view to the supply chain cooperation between the research offers a new perspective. View an overview of transaction value Li extended Zajac and Olsen based on the definition of the so-called transaction value, that is, through alliances of common values to increase, while the theoretical value of the transaction known as the transaction value theory, based on transaction value perspective can also consider transaction costs, transaction value, internalization cost and value internalization. This article will deal value theory for supply chain cooperation between the research, that the cooperative relationship in the supply chain suppliers and manufacturers, and also exist between members of the business value of the transaction, the supply chain partnership work on the same transaction value can be used perspective. In this article, TC refers to the parties in the supply chain co-existence of opportunism in the transaction costs; TV refers to the supply chain co-operation between the parties to the transaction because of the trust and close co-operation generated by shared values; HC refers to the within the enterprise because of organizational rigidity of the limitations of the costs incurred; HV refers to a core competitiveness of enterprises resulting from the internalization of values. Further analysis, TC is related to opportunism, HV regular activities because of the consistency and the efficiency and stability of the resulting, HC and organizational inertia and expertise generated by rigid limitations on, TV is derived from the different organizations to form the innovative and flexible. Therefore, high TC and high-HV will allow businesses to more choices for behavior within the enterprise, high-TV and high-HC will allow businesses to more choices for supply chain collaboration, HC and HV will lead to path-dependent learning core competencies or organization rigidity, TC and the TV will lead to breakthroughs in the path of learning a new core competencies, or the risk of opportunism. Therefore, based on transaction value perspective of supply chain partnerships can be both within the enterprise and between enterprises at two levels, but also take into account the cost and value. In addition, TCE and RBV different, TCE and RBV While internal control can explain the enterprises to reduce transaction costs and enhance competitive advantage, however, can not explain how the supply chain through cooperation between member enterprises to create new value. Based on transaction value of the TCE perspective, adds stress to unilaterally reduce the cost and increase the value of the unilateral RBV emphasized that the members of the supply chain co-operation between enterprises to pursue the maximization of the value of both sides, particularly in view based on the value of the transaction are well answered and exchange organizations in an interdependent relationship, the value is how to generate the. Similarly, from the perspective of transaction value can answer there is dependency between the members of the supply chain through cooperation between enterprises on how to meet the market demand, and to coordinate the interests between different enterprises, the pursuit of the overall interests of the supply chain and to maximize the common interests of members Therefore, from the transaction value perspective on supply chain collaboration has become an inevitable choice. Perspective Based on transaction value analysis of supply chain partnership Supply Chain Partnership is one of research focuses on how to coordinate the relationship between member enterprises, which can achieve the maximization of the overall interests of the supply chain. Can not be ignored is that in the study of the relationship between member enterprises, we must not forget the members of the business as an independent legal person within the enterprise behavior, because the members of the supply chain between enterprises within the enterprise behavior and members of the behavior influence each other, however, scholars have has always stressed the one hand, the neglect of one of the other party, especially in the supply chain relationship of the study, although a lot of trust in the literature have stressed, the importance of social capital, but in the coordination of corporate relations are still the most widely used contract, contracts and other formal management model. Based on this, this article from the value of the transaction taking into account the perspective of the members of the supply chain between enterprises and enterprises to study at two levels within the supply chain partnership is proposed as shown in Figure 1, the supply chain collaboration diagram. (A) Value and Cost According to TCE theory, companies trading in the market that there are transaction costs, in order to reduce transaction costs, companies by the internalization of certain operations to reduce transaction costs, thus there organizational boundaries. However, as time and knowledge-based competition increasingly fierce, the ability to rely on the enterprise itself can not be competitive in the market to succeed, therefore, companies need to outsource some operations to other companies at this time, there will be assets special nature of moral hazard and other transaction costs. In order to reduce transaction costs, companies will be established between the long-term cooperative relationship, through the partnership to reduce transaction costs. Unfortunately, the transaction cost theory, starting from the enterprise to consider how to reduce transaction costs, without considering how to reduce costs between enterprises. A comprehensive view, TCE and RBV are based on market failure and the more effective the internal organization of the assumptions carried out. In fact, we should see is that the enterprise as organizations with a clear boundary in reducing the external transaction costs, emphasizing the value of internalizing the same time, also have internalized the cost of the supply chain between enterprises in generating transaction costs also can be through mutual cooperation has created value of the transaction. Thus, in analyzing the supply chain partnership, we must also consider the value of the transaction, transaction costs, the internalization of values and internalization of costs, what should be done in-house by the enterprise or by the completion of the supply chain co-operation between enterprises, depending on the value and cost of the common effects. When the high value of the transaction, transaction costs and low cases, it should choose the supply chain companies have completed, and when the internalization of high value, low-cost internalization circumstances, enterprises should choose to internalize their own strength to rely on the enterpriseAchieve . (B) Trust and Control Despite the importance of trust in transactions long been recognized that there are many scholars have conducted a study on trust in relationship marketing research has become an important research area. With the in-depth study of the supply chain, many scholars have studied the supply chain of trust for the importance of cooperation that the member enterprises to strengthen the core competitive capabilities, rapid response to market demand and ultimately improve the market competitiveness of the supply chain to foster inter-firm The trust is the core of supply chain management, but they still do not trust a single acceptable definition, its nature and characteristics are also no uniform understanding. And Mayer and others to the trust is defined as a psychological attitude very different, this article draw on Lis view, the trust is defined as the mutually dependent because of mutual commitment between the organizations formed to manage the two sides of a transaction behavior choices. Thus, trust can be used as an informal way to prevent the self-interested behavior between partners. For the members of the supply chain between enterprises of the relationship, with each other through mutual commitment to the coordination of mutual relations and strengthen cooperation between enterprises, between fully trusted each other full of information sharing and cooperation, to improve efficiency while reducing transaction costs and improve supply chain responsiveness, supply chain and business in order to achieve common interests, common values. Therefore, trust in the management and coordination of the supply chain relationship between member enterprises play an important role. Reposted elsewhere in the paper for free download http:/ Thus, in the supply chain relationship management, supply chain, greater emphasis should be made between member enterprises to coordinate with each other through trust relationship through mutual commitment to serve a common goal; and the members of the enterprise, you rely more on formal control, strict regulations and procedures to restrict internal behavior. (C) the complementary expertise and professional Supply Chain Partnership Another study focused on supply chain partner selection, the core business in order to improve supply chain efficiency in the overall interest and will normally be through a certain criteria to select partners, and the core enterprises in the process of cooperation with other enterprises China will also eliminate some unqualified enterprises. In selecting members of the core enterprise business, it should be emphasized that the complementarity between member enterprises, in accordance with relevant theories of outsourcing, companies should be outsourcing its non-core business to other businesses, but will retain their own core business. The core enterprise in building the supply chain process, should also be chosen to its non-core business by other companies to complete, while completing their core competencies and advantages the most part, at the same time, each member enterprises to complete its most central ability aspect, the supply chain as a whole can achieve the optimal. Therefore, the members of the supply chain between enterprises of the most emphasized is a professional complementary. Of course, it should be recognized that the supply chain in the course of existence, but also continuously eliminate unqualified companies, which is a dynamic process. Therefore, the supply chain member companies must constantly improve its own strength, so as to avoid being driven out. At this point, member companies can choose to internal learning, you can also choose to enhance inter-organizational learning. Through this analysis, can be the following conclusions: the supply chain for more coordination among the member enterprises should rely on trust, while the supply chain members of the internal management of enterprises should rely on more formal control; the supply chain between enterprises should be emphasized that the professional members of the complement, while the supply of chain members of the professional expertise within the enterprise should be emphasized; for a job, when the high value of the transaction, transaction costs are low, should choose the supply chain collaboration, when the internalization of high-value, transaction costs are low, should be chosen by the enterprise house. At the same time, it should be noted that, for the members of the supply chain between enterpri