An Economic Order Quantity Model with Credit-Dependent Demand under Two-Level Trade Credit and Supplier Credits Linked to Order Quantity

被引：0
作者：
Chang C.-T. [1 ,2 ]
Yu J.-P. [1 ]
Chu M.-C. [1 ]
机构：
[1] Tamkang University, Taiwan
[2] Ming Chuan University, Taiwan
来源：
International Journal of Information and Management Sciences | 2022年 / 33卷 / 01期
关键词：
Credit-dependent demand; Inventory; Trade credit;
D O I：
10.6186/IJIMS.202203_33(1).0002
中图分类号：
学科分类号：
摘要：
A supplier is usually willing to provide the retailer a permissible delay of payments if the retailer orders a large quantity under a business trading environment. Similarly, a retailer might offer a credit period to its customers to motivate customers to increase their demand. In order to reflect these real life phenomena, this research establishes an appropriate inventory model with credit-dependent demand under two-level trade credit and permissible delays in payments linked to order quantity. The objective is to determine the optimal customer’s trade credit period, order quantity, and replenishment time to maximize the total profit of the retailer. An easy-to-use algorithm to find the optimal solutions is to provide and implement with a graphical user interface. Numerical examples are given to illustrate the theoretical results and the sensitivity analysis of parameters on the optimal solutions. Some managerial insights are obtained. For instance, the retailer should shorten the replenishment cycle and reduce the order quantity if the interest charged is large. © 2022, Tamkang University. All rights reserved.
引用
收藏
页码：13 / 33
页数：20
相关论文
共 42 条
  • [1] Aggarwal S. P., Jaggi C. K., Ordering policies of deteriorating items under permissible delay in payments, Journal of the Operational Research Society, 46, pp. 658-662, (1995)
  • [2] Bhunia A. K., Jaggi C. K., Sharma A., Sharma R., A two-warehouse inventory model for deteriorating items under permissible delay in payment with partial backlogging, Applied Mathematics and Computation, 232, pp. 1125-1137, (2014)
  • [3] Chang C. T., An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity, International Journal of Production Economics, 88, pp. 307-316, (2004)
  • [4] Chang C. T., Cheng M. C., Soong P. Y., Impacts of inspection errors and trade credits on the economic order quantity model for items with imperfect quality, International Journal of Systems Science:Operations & Logistics, 3, pp. 34-48, (2016)
  • [5] Chang C. T., Ouyang L. Y., Teng J. T., An EOQ model for deteriorating items under supplier credits linked to ordering quantity, Applied Mathematical Modelling, 27, pp. 983-996, (2003)
  • [6] Chang C. T., Teng J. T., Chern M. S., Optimal manufacturer’s replenishment policies for deteriorating items in a supply chain with up-stream and down-stream trade credits, International Journal of Production Economics, 127, pp. 197-202, (2010)
  • [7] Chang C. T., Teng J. T., Goyal S. K., Inventory lot-size models under trade credits: a review, Asia-Pacific Journal of Operational Research, 25, pp. 89-112, (2008)
  • [8] Chang H. C., Ho C. H., Ouyang L. Y., Su C. H., The optimal pricing and ordering policy for an integrated inventory model when trade credit linked to order quantity, Applied Mathematical Modelling, 33, pp. 2978-2991, (2009)
  • [9] Chen S. C., Cardenas-Barron L. E., Teng J. T., Retailer’s economic order quantity when the supplier offers conditional ly permissible delay in payments link to order quantity, International Journal of Production Economics, 155, pp. 284-291, (2014)
  • [10] Giri B. C., Maiti T., Supply chain model with price-and trade credit-sensitive demand under two-level permissible delay in payments, International Journal of Systems Science, 44, pp. 937-948, (2013)
12345