Review: The optimal replenishment decisions under two levels of trade credit policy depending on the order quantity

Authors:
Victor B. Kreng;Shao-Jung Tan
Affiliations:
Department of Industrial and Information Management, National Cheng Kung University, Tainan, Taiwan, ROC;Department of Industrial and Information Management, National Cheng Kung University, Tainan, Taiwan, ROC
Venue:
Expert Systems with Applications: An International Journal
Year:
2010

Citing 9
Cited 6

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Inventory model for deteriorating items and time value of money for a finite time horizon under the permissible delay in payments

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Lot sizing with permissible delay in payments and entropy cost

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Short communication: The simplified solution procedures for the optimal replenishment decisions under two levels of trade credit policy depending on the order quantity in a supply chain system

Expert Systems with Applications: An International Journal
An EPQ-based inventory model for exponentially deteriorating items under retailer partial trade credit policy in supply chain

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Supply chain models for deteriorating products with ramp type demand rate under permissible delay in payments

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The integrated inventory model with the transportation cost and two-level trade credit in supply chain management

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Optimal lot-sizing policy for a manufacturer with defective items in a supply chain with up-stream and down-stream trade credits

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A fuzzy framework for coordinating pricing and inventory policies for deteriorating items under retailer partial trade credit financing

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Abstract

In real-life situations, suppliers usually offer a grace period to the wholesaler and the wholesaler also adopts the similar trade credit policy to its retailer. In general, the delay in payments often depends on the quantity ordered. That is, the favorable credit terms are provided when the purchaser have a large order quantity. Accordingly, this study is proposed to determine the optimal replenishment decisions under two levels of trade credit policy if the purchasers order quantity is greater than or equal to a predetermined quantity. The minimization of the total variable costs per unit time is taken as the objective function, in which some theorems are also developed to determine the optimal cycle time for the wholesaler. Furthermore, this study collected previous published models as special cases and several other numerical examples to illustrate the theoretical results and obtain the managerial insights.