The Fuzzy Random Coexistence Credit To Pay Inventory Policy Research

The traditional inventory models assume that the products are paid as soon as they are delivered to the warehouse. However, in reality, the sellers usually employ the policy of delay in payment to stimulate the purchasing behavior of the costumers, which is an effective promoting measure. Thus, the policy of delay in payment is extensively recognized and applied by corporations.It is noticed that this policy bring extra credit risk to the sellers, which triggered tremendous attention on the investigation of this policy. Considering the theoretical significance and application value of the models under the delay in payment, an amount of scholars has launched a mass of research on the traditional problems under delay in payment and its extensive models.Nevertheless, most of the inventory models with delay in payment only involve the relationship between the supplier and the retailer. In practical situation, it is common that the retailer provide the consumers a permissible credit period to stimulate the demand. Therefore, this paper not only investigates the one-level permissible delay in payments, but also the two-level permissible delay in payments which involves both the credit period provided by the retailer and the credit period provided by the supplier. Besides, owing to the uncertainty of the external environment, it is important to study this problem in uncertain environment. However, the present research on the delay in payment is conducted in the crisp environment, while the investigation in the uncertain environment has not been developed.Aiming the past research on the delay in payment, this paper studies the inventory problem with permissible delay in payment under the environment in which the fuzziness and randomness may probably exist. The main contents of the paper and conclusions are summarized as follows:1) The paper has reviewed the literature involving the delay in payment at home and abroad. The summary is made from the view of delay in payment (one-level and two-level), the environment (crisp and uncertain) and type of items (imperfect and deteriorating). The research on the delay in payment at home and abroad is analyzed, and the problems existing in the present research is summarized. Then the possible further research has been pointed out.2) The relative theory about the delay in payment is introduced, and the inventory models are constructed corresponding to the three aspects aforementioned.3) The solution for the investigation under uncertain environment is obtained by applying the credibility theory.