Based on system dynamics simulation, the stability of dual-channel supply chain under retailer centralized management inventory model is studied. Firstly, the inventory coordination of centralized dual-channel supply chain is studied to determine the optimal inventory under uncertain demand and safe inventory conditions. Secondly, the logistics and information flow paths in the feedback loop of the system are deduced, the causal feedback relationship of the system is analyzed, and the SD model of the dual-channel supply chain is constructed. Finally, the Anylogic simulation software is used to simulate the inventory, profit and shortage level of the whole supply chain system, retailers and manufacturers, and to study the impact of demand mutation and customer preference transfer on system stability. The results show that the stability of the dual-channel supply chain is relatively poor when demand changes; when channel preference ratio changes, the stability of the retail channel changes to a certain extent, while the electronic channel is not affected. The study can provide a reference for the optimal decision-making of dual-channel supply chain managers.

CICTP