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Three-Echelon Inventory Model with Permissible Delay in Payments under Controllable Lead Time and Backorder Consideration

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  • M. F. Yang
  • Wei-Chung Tseng

Abstract

This paper proposes a three-echelon inventory model with permissible delay in payments under controllable lead time and backorder consideration to find out the suitable inventory policy to enhance profit of the supply chain. In today’s highly competitive market, the supply chain management has become a critical issue in both practice and academic and supply chain members have to cooperate with each other to bring more benefits. In addition, the inventory policy is a key factor to influence the performance of the supply chain. Therefore, in this paper, we develop a three-echelon inventory model with permissible delay in payments under controllable lead time and backorder consideration. Furthermore, the purpose of this paper is to maximize the joint expect total profit on inventory model and attempt to discuss the inventory policy under different conditions. Finally, with a numerical example provided here to illustrate the solution procedure, we may discover that decision-makers can control lead time and payment time to enhance the performance of the supply chain.

Suggested Citation

  • M. F. Yang & Wei-Chung Tseng, 2014. "Three-Echelon Inventory Model with Permissible Delay in Payments under Controllable Lead Time and Backorder Consideration," Mathematical Problems in Engineering, Hindawi, vol. 2014, pages 1-16, April.
    • Handle: RePEc:hin:jnlmpe:809149
    DOI: 10.1155/2014/809149
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    Cited by:

    1. V. Vinitha & N. Anbazhagan & S. Amutha & K. Jeganathan & Bhanu Shrestha & Hyoung-Kyu Song & Gyanendra Prasad Joshi & Hyeonjoon Moon, 2022. "Analysis of a Stochastic Inventory Model on Random Environment with Two Classes of Suppliers and Impulse Customers," Mathematics, MDPI, vol. 10(13), pages 1-18, June.

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