References
1. Williams, F. \World Bank urged to lift trade
credit nance", Financial Times (November 11).
https://www.ft.com/content/9ebcdfaa-b012-11dda795-
0000779fd18c (2008).
2. Federal Reserve Board, Financial Accounts of
the United States, Accessed September 18, 2016.
http://www.federalreserve.gov/releases/
z1/current/z1.pdf (2016).
3. Quick, B. \A snack maker's unsavory business practices",
Fortune, 168(4), p. 54 (2013).
4. Beranek, W. \Financial implications of lot-size inventory
models", Management Science, 13, pp. 401{408
(1967).
5. Goyal, S.K. \Economic order quantity under conditions
of permissible delay in payments", Journal of the
Operational Research Society, 36, pp. 335{338 (1985).
6. Jamal, A.M.M. and Wang, S. \An ordering policy
for deteriorating items with allowable shortage and
permissible delay in payments", Journal of the Operational
Research Society, 84, pp. 826{833 (1997).
7. Dye, C.Y. \A deteriorating inventory model with
stock-dependent demand rate and partial backlogging
under conditions of permissible delay in payments",
Operations Research, 39, pp. 189{201 (2002).
944 C. Zhang et al./Scientia Iranica, Transactions E: Industrial Engineering 28 (2021) 927{949
8. Huang, Y.F. \Economic order quantity under conditionally
permissible delay in payments", European
Journal of Operational Research, 176, pp. 911{924
(2007).
9. Huang, Y.F. and Hsu, K.H. \An EOQ model under
retailer partial trade credit policy in supply chain",
International Journal of Production Economics, 112,
pp. 655{664 (2008).
10. Gupta, D. and Wang, L. \A stochastic inventory
model with trade credit", Manufacturing & Service
Operations Management, 11, pp. 4{18 (2009).
11. Jaggi, C.K. and Kausar, A. \Retailer's optimal credit
and replenishment policy for deteriorating items with
credit linked demand in a supply chain", International
Journal of Applied Decision Sciences, 3(2), p. 117
(2010).
12. Jaggi, C.K., Kapur, P.K., Goyal, S.K., et al. \Optimal
replenishment and credit policy in EOQ model under
two-levels of trade credit policy when demand is
in
uenced by credit period", International Journal of
System Assurance Engineering and Management, 3(4),
pp. 352{359 (2012).
13. Teng, J.T., Min, J., and Pan, Q. \Economic order
quantity model with trade credit nancing for nondecreasing
demand", Omega, 40, pp. 328{335 (2012).
14. Kumar Sett, B., Sarkar, B., and Goswami, A. \A twowarehouse
inventory model with increasing demand
and time varying deterioration", Scientia Iranica,
19(6), pp. 1969{1977 (2012).
15. Jaggi, C.K., Goel, S.K., and Mittal, M. \Credit
nancing in economic ordering policies for detective
items with allowable shortages", Applied Mathematics
and Computation, 219, pp. 5268{5282 (2013).
16. Lou, K.R. and Wang, W.C. \Optimal trade credit and
order quantity when trade credit impacts on both demand
rate and default risk", Journal of the Operational
Research Society, 64, pp. 1551{1556 (2013).
17. Wang, W.C., Teng, J.T., and Lou, K.R. \Seller's
optimal credit period and cycle time in a supply
chain for deteriorating items with maximum lifetime",
European Journal of Operational Research, 232, pp.
315{321 (2014).
18. Teng, J.T., Lou, K.R., and Wang, L. \Optimal trade
credit and lot size policies in economic production
quantity models with learning curve production costs",
International Journal of Production Economics, 155,
pp. 318{323 (2014).
19. Kumar, M. and Triphthi, R.P. \A new model for
deteriorating items with in
ation under permissible
delay in payments", International Journal of Industrial
Engineering Computations, 5, pp. 365{374 (2014).
20. Jaggi, C.K., Yadavalli, V.S.S., Verma, M., et al.
\An EOQ model with allowable shortage under trade
credit in dierent scenario", Applied Mathematics and
Computation, 252, pp. 541{551 (2015).
21. Khanna, A., Gautam, P., and Jaggi, C.K. \Inventory
modeling for deteriorating imperfect quality items with
selling price dependent demand and shortage backordering
under credit nancing", International Journal
of Mathematical, Engineering and Management Sciences,
2(2), pp. 110{124 (2015).
22. Khanna, A., Jaggi, C.K., and Gautam, P. \Coordinating
vendor-buyer decisions for imperfect quality
items considering trade credit and fully backlogged
shortages", AIP Conference Proceedings, 1715 (2015).
23. Khanna, A., Mittal, M., Gautam, P., et al. \Credit
nancing for deteriorating imperfect quality items with
allowable shortages", Decision Science Letters, 5(1),
pp. 45{60 (2016).
24. Peura, H., Yang, S.A., and Lai, G. \Trade credit in
competition: a horizontal benet", Manufacturing &
Service Operations Management, 19(2), pp. 263{289
(2017).
25. Chen, Z. and Zhang, R.Q. \A capital
ow-constrained
lot-sizing problem with trade credit", Scientia Iranica,
25(5), pp. 2775{2787 (2018).
26. Jaggi, C.K., Gautam, P., and Khanna, A. \Inventory
decisions for imperfect quality deteriorating items with
exponential declining demand under trade credit and
partially backlogged shortages", Quality, IT and Business
Operations, pp. 213{229 (2018).
27. Jaggi, C.K., Mamta, G., and Amrina, K. \Credit
policies for deteriorating imperfect quality items with
exponentially increasing demand and partial backlogging",
Handbook of Research on Promoting Business
Process Improvement Through Inventory Control Techniques,
pp. 90{106, IGI Global (2018).
28. Kouvelis, P. and Zhao, W.H. \Who should nance
the supply chain? Impact of credit ratings on supply
chain decisions", Manufacturing & Service Operations
Management, 20(1), pp. 19{35 (2018).
29. Feng, L., Tao, J., Feng, W., et al. \Impacts of twostage
deterioration on an integrated inventory model
under trade credit and variable capacity utilization",
European Journal of Operational Research, 272(1), pp.
219{234 (2019).
30. Zhou, Y.W. and Zhou, D. \Determination of the
optimal trade credit policy: a supplier-stackelberg
model", Journal of the Operational Research Society,
64, pp. 1030{1048 (2013).
31. Chern, M.S., Pan, Q., Teng, J.T., et al. \Stackelberg
solution in a vendor-buyer supply chain model with
permissible delay in payments", International Journal
of Production Economics, 144, pp. 397{404 (2013).
32. Hoseininia, M., Didehvar, F., and Esfahani, M.M.S.
\Inventory competition in a multi channel distribution
system: the Nash and stackelberg game", Scientia
Iranica, 20(3), pp. 846{854 (2013).
33. Chern, M.S., Chan, Y.L., Teng, J.T., et al. \Nash
equilibrium solution in a vendor-buyer supply chain
model with permissible delay in payments", Computers
& Industrial Engineering, 70, pp. 116{123 (2014).
C. Zhang et al./Scientia Iranica, Transactions E: Industrial Engineering 28 (2021) 927{949 945
34. Tsao, Y.C., Lu, J.C., An, N., et al. \Retailer shelfspace
management with trade allowance: a stackelberg
game between retailer and manufacturers", International
Journal of Production Economics, 148(148), pp.
133{144 (2014).
35. Wu, C., Zhao, Q., and Xi, M. \A retailer-supplier
supply chain model with trade credit default risk in
a supplier-stackelberg game", Computers & Industrial
Engineering, 112, pp. 568{575 (2017).
36. Chua, F.L.S., Vasnani, N.N., Pacio, L.B.M., et al. \A
stackelberg game in multi-period planning of maketo-
order production system across the supply chain",
Journal of Manufacturing Systems, 46, pp. 231{246
(2018).
37. Jaggi, C.K., Mamta, G., Amrina, K., et al. \Inventory
and credit decisions for deteriorating items
with displayed stock dependent demand in two-echelon
supply chain using Stackelberg and Nash equilibrium
solution", Annals of Operations Research, 274, pp.
309{329 (2018).
38. Nazari, L., Seifbarghy, M., and Setak, M. \Modeling
and analyzing pricing and inventory problem in a
closed-loop supply chain with return policy and multiple
manufacturers and multiple sales channels using
game theory", Scientia Iranica, 25(5), pp. 2759{2774
(2018).
39. Pal, B., Sana, S.S., and Chaudhuri, K. \Twoechelon
manufacturer-retailer supply chain strategies
with price, quality, and promotional eort sensitive
demand", International Transactions in Operational
Research, 22(6), pp. 1071{1095 (2015).
40. Wang, Y., Sun, X., and Meng, F. \On the conditional
and partial trade credit policy with capital constraints:
a stackelberg model", Applied Mathematical Modelling,
40(1), pp. 1{18 (2016).
41. Xiao, T., Choi, T.M., and Cheng, T.C.E. \Product
variety and channel structure strategy for a retailerstackelberg
supply chain", European Journal of Operational
Research, 233(1), pp. 114{124 (2014).
42. Yang, S.A. and Birge, J.R. \Trade credit, risk sharing,
and inventory nancing portfolios", Management
Science, 64(8), pp. 3667{3689 (2017).
43. Lee, H.H., Zhou, J., and Wang, J. \Trade credit
nancing under competition and its impact on rm
performance in supply chains", Manufacturing & Service
Operations Management, 20(1), pp. 36{52 (2018).
44. Jaggi, C.K., Goyal, S.K., and Goel, S.K. \Retailer's
optimal replenishment decisions with credit-linked demand
under permissible delay in payments", European
Journal of Operational Research, 190, pp. 130{135
(2008).
45. Abad, P.L. and Jaggi, C.K. \A joint approach for
setting unit price and the length of the credit period
for a seller when end demand is price sensitive",
International Journal of Production Economics, 83,
pp. 115{122 (2003).
46. Ho, C.H. \The optimal integrated inventory policy
with price-and-credit-linked demand under two-level
trade credit", Computers and Industrial Engineering,
60(1), pp. 117{126 (2011).