For a finite planning horizon, there has been a considerable body of research papers in the area of operations management that dealt with four different inventory shortage models in the last two decades. In this paper, we establish the models to reflect the fact that the longer the waiting time,...

In practice, vendors (or sellers) often offer their buyers a fixed credit period to settle the account. The benefits of trade credit are not only to attract new buyers but also to avoid lasting price competition. On the other hand, the policy of granting a permissible delay adds not only an...

In the traditional inventory economic order quantity (or EOQ) model, it was assumed that the customer must pay for the items as soon as the items are received. However, in practices, the supplier frequently offers a cash discount and/or a permissible delay to the customer especially when the...

In the traditional inventory economic order quantity (or EOQ) model, it was assumed that the customer must pay for the items as soon as the items are received. However, in practices, the supplier frequently offers a cash discount and/or a permissible delay to the customer especially when the...

In today's business environment, a supplier usually offers customers a permissible delay for settling outstanding account balance for the goods supplied. However, a supplier on occasion may allow this permissible delay in payments to be more than the usual during a given specified period. In...

This paper presents a stylized model to determine the optimal strategy for the integrated supplier-retailer inventory model under the condition that both the supplier and retailer have adopted a trade credit strategy. By analyzing the total channel profit function, we develop an algorithm to...

The traditional economic production quantity (EPQ) model assumes that the production products are all perfect. It is not always true in the real production system, due to imperfect production process or other factors, imperfect quality items may be produced. Furthermore, it is well-known that...