Three stage trade credit policy in a three-layer supply chain–a production-inventory model

Brojeswar Pal · Shib Sankar Sana · Kripasindhu S. Chaudhuri

48 citations0/0 files storedInternational Journal of Systems Science

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Supply Chain and Inventory Management Sustainable Supply Chain Management Working Capital and Financial Performance

Abstract

The main purpose of this paper is to investigate the optimal replenishment lot size of supplier and optimal production rate of manufacturer under three levels of trade credit policy for supplier–manufacturer–retailer supply chain. The supplier provides a fixed credit period to settle the accounts to the manufacturer, while the manufacturer gives a fixed credit period to settle the account to the retailer and the retailer, in turn, also offers a credit period to each of its customers to settle the accounts. We assume that the supplier supplies the raw material to the manufacturer and sends back the defective raw materials to the outside supplier after completion of inspection at one lot with a sales price. The system always produces good items in the model. Also, we consider the idle times of supplier and manufacturer. Finally, numerical examples are provided to illustrate the behaviour and application of the model with graphical simulation.

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References

1985Economic Order Quantity under Conditions of Permissible Delay in Payments 2000Economic production quantity model for items with imperfect quality 1995Ordering Policies of Deteriorating Items under Permissible Delay in Payments 2002On the economic order quantity under conditions of permissible delay in payments 2003Optimal retailer's ordering policies in the EOQ model under trade credit financing 2002Note on: Economic production quantity model for items with imperfect quality–a practical approach 2003An EOQ model for deteriorating items under supplier credits linked to ordering quantity 2010A production-inventory model of imperfect quality products in a three-layer supply chain

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2022Coordination, cooperation, and collaboration in production-inventory systems: a systematic literature review 2014Two-echelon competitive integrated supply chain model with price and credit period dependent demand 2013Coordinating replenishment decisions in a two-stage supply chain by considering truckload limitation based on delay in payments 2019Optimal credit term, order quantity and selling price for perishable products when demand depends on selling price, expiration date, and credit period

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