Manufacturer's pricing and lot-sizing decisions for perishable goods under various payment terms by a discounted cash flow analysis

被引:55
作者
Chang, Chun-Tao [1 ]
Ouyang, Liang-Yuh [2 ]
Teng, Jinn-Tsair [3 ,4 ]
Lai, Kuei-Kuei [4 ]
Cardenas-Barron, Leopoldo Eduardo [5 ]
机构
[1] Tamkang Univ, Dept Stat, Taipei, Taiwan
[2] Tamkang Univ, Dept Management Sci, Taipei, Taiwan
[3] William Paterson Univ New Jersey, Dept Mkt & Management Sci, Wayne, NJ 07470 USA
[4] Chaoyang Univ Technol, Dept Business Adm, Taichung, Taiwan
[5] Tecnol Monterrey, Sch Engn & Sci, Dept Ind & Syst Engn, E Garza Sada 2501 Sur, Monterrey 64849, Nuevo Leon, Mexico
关键词
Supply chain management; Advanced-cash-credit payment; Pricing; Perishable; Goods; Discounted cash-flow analysis; ECONOMIC ORDER QUANTITY; OPTIMAL CREDIT PERIOD; 2-LEVEL TRADE CREDIT; SUPPLY CHAIN; SELLING PRICE; EOQ MODEL; ADVANCE PAYMENTS; EXPIRATION DATES; DEMAND DEPENDS; INVENTORY;
D O I
10.1016/j.ijpe.2019.04.039
中图分类号
T [工业技术];
学科分类号
08 ;
摘要
In practice, a cash payment is a classical payment term, a credit payment is commonly applied to stimulate sales, and an advance payment is used to avoid order cancellations. A combination of these three payment types is considered an advance-cash-credit (ACC) payment scheme, which is commonly used in business transactions. For instance, a home buyer must pay a homeowner 1% of the listing price as a good-faith deposit (i.e., an advance payment) to start negotiating the price, then pay 10% of the agreed-upon price (i.e., a cash payment) when signing the contract, and then has a delay before the final payment (i.e., a credit payment, a mortgage) is approved. In this paper, we develop an economic production quantity (EPQ) model for perishable goods in a three-echelon supplier-manufacturer-customer chain: (1) demand rate depends on selling price and freshness of a perishable item (i.e., time to sell-by date), and (2) the supplier offers an upstream ACC payment to the manufacturer, while the manufacturer grants a downstream cash-credit payment to customers. Consequently, the manufacturer must determine optimal selling price, production run time, and replenishment cycle time to maximize the present value of total annual profit by using a discounted cash flow (DCF) analysis. The proposed model fits in a general framework that includes numerous previous models as special cases. The numerical results reveal that the present value of total profit is joint concave in both selling price and cycle time. Finally, a sensitivity analysis is performed and managerial insights are also provided.
引用
收藏
页码:83 / 95
页数:13
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