Abstract Trade credit has been widely used as a marketing strategy to boost sales and a tool for short-term financing. The existing literature usually study flexible two-part trade credit contract and two-level trade credit policy separately. In this paper, an inventory model is formulated for a supply chain simultaneously adopting flexible trade credit contract and two-level trade credit policy. In particular, the supplier offers the retailer with a flexible two-part trade credit contract, which allows the retailer to pay any fraction of the purchasing cost within a short credit period at a discounted price and the rest at full price within the maturity of the contract. Meanwhile, the retailer allows his/her customer to defer payment for a fixed period of time. The inventory model aims at determining the retailer’s optimal ordering and payment strategy. A solution procedure is proposed and closed-form solutions are derived. Numerical results indicate that offering flexible trade credit can reduce the retailer’s total cost while offering two-level trade credit contract will increase the retailer’s total cost and reduce the retailer’s early payment fraction.

中文翻译：

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两级灵活的两部分贸易信贷政策下零售商的最优订购和支付策略

摘要 贸易信贷已被广泛用作促进销售的营销策略和短期融资工具。现有文献通常分别研究灵活的两部分贸易信贷合同和两级贸易信贷政策。本文针对同时采用灵活贸易信贷合同和两级贸易信贷政策的供应链建立了库存模型。特别是，供应商向零售商提供了一个灵活的两部分贸易信贷合同，允许零售商在短期信用期内以折扣价支付采购成本的任何部分，其余部分在到期日内以全价支付。合同。同时，零售商允许他/她的客户将付款推迟一段固定的时间。库存模型旨在确定零售商的最佳订购和支付策略。提出了求解程序并推导出封闭形式的解。数值结果表明，提供灵活的贸易信贷可以降低零售商的总成本，而提供两级贸易信贷合同会增加零售商的总成本并降低零售商的提前支付比例。