Suppliers often prefer to offer their retailers a delay period in payment to attract more sales and promote revenue in a supply chain. The retailers usually ask their customers to pay a portion of purchasing cost when receiving the product (i.e., a downstream partial trade credit) to reduce the...

Since the publication of the Goyal model in 1985, research on the modeling of inventory lot-size under trade credits has resulted in a body of literature. In this paper, we present a review of the advances in inventory literature under conditions of permissible delay in payments since 1985. We...