Research On The Return Policy With No Reason Considering The Return Period

With the development of production technology and the fierce competition in the market,the functions and types of goods are becoming increasingly diverse,consumer returns have been increasingly frequent. In order to meet the consumers demand, businessmen actively put forward no reason to return service. Reasonable return strategy plays an important role in the development of enterprises. In the above context, based on the knowledge of consumer utility theory and management theory, this paper analyzes consumer behavior, retailers, distributors and suppliers' expected profits,and provides the basis for making reasonable return policy.First of all, this paper analyzes the retailer return policy in two cases: without considering the return period and considering the return period. To maximize the profit, the paper models consumers and retailers' expected profits,studies the influences of commodity sales price, refund amount and order amount to the return strategy.Then,considering a three-tier supply chain which consists of a single retailer,a single distributor,and a single supplier,the paper is on the basis of introducing the repayment contract model of penalty factor related to the return period and benefit sharing coefficient. In order to maximize the profit, through the construction of the supply chain as a whole, retailers,distributors and suppliers profit function model, the paper researches the optimal order quantity that the supply chain system can bear, the profit of each participant, the repurchase price , the relationship between the wholesale price and the contract parameter.Finally,through the analysis of examples,this paper analyzes the changes of the sales price with the return period,the consumer value experience parameter and the proportion of the consumers' return in the unit time when the other parameters are unchanged. And it also analyzes the influence of the order quantity on the expected profit. Then,the paper studies the change of the expected profit of the retailer, the distributor and the supplier with the penalty factor and the revenue sharing coefficient in the improved repurchase contract model. By comparison, we find that when retailers cooperate with distributors and suppliers in the supply chain, they can order more goods and get more profits. Therefore, through the development of repurchase contracts, the supply chain partners can cooperate with each other and achieve the purpose of win-win.