Manufacturer's optimal pricing and lot‐sizing policies under trade‐credit financing

In the year 2006, Teng et al considered an appropriate economic production quantity (EPQ) model in which the manufacturer receives the supplier's trade credit and provides trade credit to the customer simultaneously. The following two payment methods were discussed by Teng et al: The main purpo...

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Bibliographic Details
Published in:Mathematical methods in the applied sciences 2020-04, Vol.43 (6), p.3099-3116
Main Authors: Chung, Kun‐Jen, Liao, Jui‐Jung, Lin, Shy‐Der, Chuang, Sheng‐Tu, Srivastava, Hari M.
Format: Article
Language:English
Subjects:
boundary conditions
differential equations
Economic models
economic order quantity (EOQ)
inventory modeling
Lot sizing
mathematical analytic tools and techniques
optimal pricing
payment methods
supply chain system
total annual profit
two levels of trade credit
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Summary:In the year 2006, Teng et al considered an appropriate economic production quantity (EPQ) model in which the manufacturer receives the supplier's trade credit and provides trade credit to the customer simultaneously. The following two payment methods were discussed by Teng et al: The main purpose of this paper is summarized below: Finally, with a view to further motivating the interested researchers for using the methodology and mathematical analytic techniques in several other contexts in the field, we have chosen to include, in Section 12, a number of related recent works in the field.
ISSN:0170-4214
1099-1476
DOI:10.1002/mma.6104