2025-03-09-美联储-不同行业的企业如何组织供应链_来自交易级导入数据的证据（英）_9页_287kb

How do Firms in Different Sectors Organize their Supply Chains? Evidence from Transaction-Level Import Data

This paper examines the organization of import supply chains in U.S. firms, using the Sellers Per Shipment (SPS) metric from transaction-level import data. SPS measures the ratio of sellers to shipments, differentiating between "American" (spot-market, frequent shipments, low prices) and "Japanese" (long-term relationships, infrequent shipments, high prices) procurement systems.

Key findings:

1. Sectoral Variation: There is substantial variation in procurement systems across sectors. Manufacturing has the highest share of "Japanese" sourcing (73.9% in 2002-2007), while Transportation and Warehousing has the lowest (48.7%). "Japanese" sourcing prevalence has increased over time in most sectors, with the largest shift occurring in the retail sector.

2. Shipping Patterns: The model-based analysis shows consistent shipping patterns with SPS. Higher SPS correlates with larger shipments, longer intervals, lower unit prices, and shorter relationship lengths, aligning with the "American" system. This relationship holds across multiple sectors (manufacturing, wholesale, retail).

3. Robustness: The effects of procurement systems on shipping characteristics are robust across industries. Although sector choices differ, the impact of procurement systems on trade patterns is stable regardless of industry.

Conclusion

The paper confirms that different sectors rely on alternative procurement systems, with manufacturing being most inclined toward long-term relationships. The findings suggest that the SPS measure provides a reliable indicator of procurement strategies and their behavioral implications, offering valuable insights for understanding supply chain adjustments amid trade uncertainty.