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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/99127

    Title: Optimal trade credit and order quantity when trade credit impacts on both demand rate and default risk
    Authors: Lou, Kuo-Ren;Wang, Wan-Chih
    Contributors: 淡江大學管理科學學系
    Keywords: inventory;trade credit;default risk;optimization
    Date: 2013-10-01
    Issue Date: 2014-10-15 14:27:39 (UTC+8)
    Publisher: Basingstoke: Palgrave Macmillan Ltd.
    Abstract: In practice, to attract new buyers and to avoid lasting price competition, a seller frequently offers its buyers a permissible delay in payment (ie, trade credit). However, the policy of granting a permissible delay in payment adds an additional dimension of default risk to the seller. In contrast to previous researchers for finding optimal solutions to buyers, we first propose an economic order quantity model from the seller's prospective to determine its optimal trade credit and order quantity simultaneously. In addition, we incorporate the important and relevant fact that trade credit has a positive impact on demand rate but a negative impact on receiving the buyer's debt obligations. Then the necessary and sufficient conditions to obtain the seller's optimal trade credit and order quantity are derived. An algorithm to determine the seller's optimal trade credit is also proposed. Finally, we use some numerical examples to illustrate the theoretical results and to provide some managerial insights.
    Relation: Journal of the Operational Research Society 64(10), pp.1551-1556
    DOI: 10.1057/jors.2012.134
    Appears in Collections:[Department of Management Sciences] Journal Article

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