References | Inventory policy | Supply chain (SC) structure | Operations decisions | Coordination mechanism | Financial constraints | Product shortage | Financing options | Financial decisions | Objective function |
---|---|---|---|---|---|---|---|---|---|
Jaber and Osman (2006) | EOQ | Two-level SC: a supplier, a retailer Single product | Retailer’s and supplier’s order quantities | Joint decision making (centralized decision making) | No financial constraint | Not allowed | TCF | Retailer’s payment time to the supplier Due date of the interest-free period | Minimizing system costs |
Yin and Xu (2010) | EOQ | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity | Joint decision making (centralized decision making) | Budget shortage | Not allowed | TCF External financing | Retailer’s payment time to the supplier Due date of the interest-free period Financing mode selection | Minimizing system costs |
Dada and Hu (2008) | Newsvendor | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity | Nonlinear loan schedule | Budget shortage | Not allowed | External financing | Bank’s interest rate | Profit maximization (Stackelberg game) |
Lee and Rhee (2011) | Newsvendor | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity Wholesale price Contracts’ parameters | All-unit quantity discount Buy-back contract Two-part tariff Revenue sharing contract | Budget shortage | Not allowed | TCF External financing | Trade credit interest rate Financing mode selection | Profit maximization (Stackelberg game) |
Chen and Wang (2012) | Newsvendor | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity Wholesale price | Delay in payment contract | Budget shortage | Not allowed | TCF | No financial decision | Profit maximization (Stackelberg game) |
Moussawi-Haidar et al. (2014) | EOQ | Three-level supply chain: a supplier, a retailer, and a bank Single product | Retailer’s order quantity | Joint decision making (centralized decision making) | Budget shortage | Not allowed | TCF External financing | Retailer’s payment time Cash balance Financing mode selection | Minimizing system costs |
Kouvelis and Zhao (2016) | Newsvendor | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity Contract’s parameters | Revenue sharing contract | Budget shortage | Not allowed | External financing | Bank’s interest rate | Profit maximization (Stackelberg game) |
Feng et al. (2015) | Newsvendor | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity Contract’s parameters | Revenue-sharing-and-buy-back contract (RSBB) | Budget shortage | Not allowed | No financing option | No financial decision | Profit maximization (Stackelberg game) |
Yan et al. (2016) | Newsvendor | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity The wholesale price | Partial credit guarantee (PCG) contract | Budget shortage | Not allowed | TCF Bank credit financing | Bank’s interest rate | Profit maximization (Stackelberg game) |
Xiao et al. (2017) | Newsvendor | Two-level SC: a supplier, a retailer Single product | Retailer’s order quantity Contract’s parameters | Generalized revenue sharing contract | Budget shortage | Not allowed | TCF External financing | Trade credit interest rate | Profit maximization (Stackelberg game) |
Johari et al. (2018) | Stochastic | Three-level SC: a supplier, a retailer, and a customer Single product | Review period Order-up-to-level Retail price | Bi-level credit period contract | No financial constraint | Back-ordered | TCF | Credit period as the contract parameter | Profit maximization |
Ebrahimi et al. (2019) | Stochastic | Two-level SC: a supplier, a retailer Single product | Review period Retailer’s promotional effort level The safety factor of the retailer replenishment decision | Delay in payment contract | No financial constraint | Partially Back-ordered | TCF | Credit period as the contract parameter | Profit maximization |
Devalkar and Krishnan (2019) | Deterministic multi-period | Two-level SC: a supplier, a retailer Single product | Wholesale price | Delay in payment and reverse factoring contract | Financial market frictions (information asymmetry) | Not allowed | TCF External financing | Credit period The portion of early payment receivables | Profit maximization |
Ding and Wan (2020) | Newsvendor | Two-level SC: a supplier, a manufacturer Single product | Manufacturer’s order quantity Supplier’s production quantity | Buy-back contract Cost-sharing contract | Budget shortage | Not allowed | External financing Advance payment | Bank’s interest rate | profit maximization (Stackelberg game) |
The proposed model | EOQ | Three-level SC: multiple suppliers, an OEM, and an auto manufacturer Multi-product | Order quantities of the OEM and each supplier The OEM’s production quantity Service level | Joint decision making (centralized decision making) | Budget shortage Financing limitation | Lost sales | TCF External financing Pre-payment | Financing mode selection Debt amount Payment time to suppliers Due dates of the interest-free periods Prepayment rate of the auto manufacturer | Two objectives: Minimizing system costs Maximizing the satisfied demand (bi-objective optimization) |