Most papers about trade credit in supply chain studied retailer's inventory policy based on information shared.Few papers paid attention to supplier's trade credit policy under asymmetric information.So this p...Most papers about trade credit in supply chain studied retailer's inventory policy based on information shared.Few papers paid attention to supplier's trade credit policy under asymmetric information.So this paper tries to propose supplier's optimal trade credit policy to reveal retailer's private information.The aim is achieved by developing an incentive model with revelation principle.The retailer's private information can be found out through this trade credit policy.This contract is more general than the wholesale price contract.For the retailer's private information,the order quantity and ratio of delay in payment are distorted.Sensitivity analysis shows that the contract is influenced by sales ability and discount rate.Finally,the indirect mechanism with the same effect is proposed to make it easy to be put into practice.展开更多
Under the combined effects of inventory-level-dependent demand(ILDD)and trade credit,the retailer is able to order more quantities to stimulate market demand.However,from the supplier's perspective,two important i...Under the combined effects of inventory-level-dependent demand(ILDD)and trade credit,the retailer is able to order more quantities to stimulate market demand.However,from the supplier's perspective,two important issues are lacking sufficient attention.First,during the credit period,the retailer's higher order quantities imply increases in both the retailer's account payable and the supplier's opportunity cost of capital.Second,given the supplier's fixed production rate,the increased market demand may drive the capacity utilization to be variable.Thus,by formulating a supplier-dominated system,this paper incorporates trade credit limit(TCL)to address its effects on optimal policies vis-a-vis the item with ILDD.Specifically,three indicators can be proposed to reveal which type of financing policy the retailer should choose.Moreover,based on TCL,the supplier can effectively manage the retailer's order quantity and the corresponding account payable.Additionally,the retailer's maximum allowable order quantity is developed to ensure that the supplier can supply the retailer's order quantity on time.Furthermore,when the effects of ILDD become more significant,the manufacturer will reduce the maximum allowable order quantity to control the retailer's order incentive.展开更多
基金National Natural Science Foundation of China (No. 70571055)
文摘Most papers about trade credit in supply chain studied retailer's inventory policy based on information shared.Few papers paid attention to supplier's trade credit policy under asymmetric information.So this paper tries to propose supplier's optimal trade credit policy to reveal retailer's private information.The aim is achieved by developing an incentive model with revelation principle.The retailer's private information can be found out through this trade credit policy.This contract is more general than the wholesale price contract.For the retailer's private information,the order quantity and ratio of delay in payment are distorted.Sensitivity analysis shows that the contract is influenced by sales ability and discount rate.Finally,the indirect mechanism with the same effect is proposed to make it easy to be put into practice.
文摘Under the combined effects of inventory-level-dependent demand(ILDD)and trade credit,the retailer is able to order more quantities to stimulate market demand.However,from the supplier's perspective,two important issues are lacking sufficient attention.First,during the credit period,the retailer's higher order quantities imply increases in both the retailer's account payable and the supplier's opportunity cost of capital.Second,given the supplier's fixed production rate,the increased market demand may drive the capacity utilization to be variable.Thus,by formulating a supplier-dominated system,this paper incorporates trade credit limit(TCL)to address its effects on optimal policies vis-a-vis the item with ILDD.Specifically,three indicators can be proposed to reveal which type of financing policy the retailer should choose.Moreover,based on TCL,the supplier can effectively manage the retailer's order quantity and the corresponding account payable.Additionally,the retailer's maximum allowable order quantity is developed to ensure that the supplier can supply the retailer's order quantity on time.Furthermore,when the effects of ILDD become more significant,the manufacturer will reduce the maximum allowable order quantity to control the retailer's order incentive.
