Journal
MATHEMATICAL AND COMPUTER MODELLING
Volume 49, Issue 7-8, Pages 1326-1330Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.mcm.2008.08.017
Keywords
Integrated strategy; Trade credit; Random input
Ask authors/readers for more resources
An integrated strategy is discussed for both vendor and buyer when the inputisrandom. It is shown numerically that the cooperative approach is beneficial to reduce the cost when compared with an independent decision by both the parties. Though the integrated total cost decreases, the buyer's cost increases due to random input in his inventory. To encourage the buyer to order alarge quantity, a trade credit is offered by the vendor to the buyer to settle the account. A conciliation factor is suggested to share the benefits. (C) 2008 Elsevier Ltd. All rights reserved.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available