Open AccessDissertation
Optimal credit policy to increase supplier's profit with price dependent demand function = 가격과 수요의 관계를 고려한 최적 신용판매정책
Jun-Sik Kim,김준식 +1 more
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In this paper, the problem of determining an optimal length of credit period from the perspective of supplier is addressed. But the authors assume that a retailer jointly determines the unit retail price and order size to maximize profit when he/she purchases a product for which the supplier offers a trade credit.Abstract:
Abstract This paper deals with the problem of determining an optimal length of credit period from the perspective of supplier. We assume that a retailer jointly determines the unit retail price and order size to maximize profit when he/she purchases a product for which the supplier offers a trade credit. Two widely used demand functions are adopted for the study in which demands are decreasing functions of the retail price. A procedure is presented which shows how to achieve an optimal length of credit period for suppliers. The effects of credit period on the behaviour of retailers are also investigated using an example.read more
Citations
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References
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Recent trends in modeling of deteriorating inventory
TL;DR: The motivations, extensions and generalizations of various models in each sub-class have been discussed in brief to bring out pertinent information regarding model developments in the last decade.
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Economic Order Quantity under Conditions of Permissible Delay in Payments
TL;DR: In this article, a mathematical model for obtaining the economic order quantity for an item for which the supplier permits a fixed delay in settling the amount owed to him is presented, and an example has been solved to illustrate the method.
Journal ArticleDOI
Optimal retailer's ordering policies in the EOQ model under trade credit financing
TL;DR: It is assumed that the retailer also adopts the trade credit policy to stimulate his/her customer demand to develop the retailer's replenishment model and a theorem is developed to determine efficiently the optimal ordering policies for the retailer.
Journal ArticleDOI
Retailer's pricing and lot sizing policy for exponentially deteriorating products under the condition of permissible delay in payments
Hark Hwang,Seong Whan Shinn +1 more
TL;DR: This article deals with the problem of determining the retailer's optimal price and lot size simultaneously when the supplier permits delay in payments for an order of a product whose demand rate is represented by a constant price elasticity function.
Journal ArticleDOI
A joint approach for setting unit price and the length of the credit period for a seller when end demand is price sensitive
Prakash L. Abad,Chandra K. Jaggi +1 more
TL;DR: In this article, the authors consider the seller-buyer channel in which the end demand is price sensitive and the seller may offer trade credit to the buyer, and provide procedures for determining the seller's and the buyer's policies under non-cooperative as well as cooperative relationships.