A game-decision-theoretic approach to optimize the dynamic credit terms in supply chain finance

IF 4.4 3区管理学 Q1 OPERATIONS RESEARCH & MANAGEMENT SCIENCE

Annals of Operations Research Pub Date : 2024-07-27 DOI:10.1007/s10479-024-06178-z

Haitao Li, Wenguang Tang, Liuqing Mai

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引用次数: 0

Abstract

An optimal credit term decision in supply chain finance often needs to be made in a dynamic way considering the varying market demand among other factors. We study the dynamic credit term optimization problem (DCTOP), where a supplier determines the credit term in conjunction with its production and inventory decision, while anticipating a buyer’s order quantity in a leader-follower game setting. The DCTOP is first approached to using a continuous time optimal control model, with analytical results characterizing the structural properties of the optimal solution. To complement the structural properties, we then develop a discrete time bilevel programming model to provide computationally tractable and implementable numerical solutions. A comprehensive computational study shows significant advantage of our optimal solutions over the heuristic credit term rules in practice, and provides managerial insights regarding the impacts of key problem parameters on the optimal solutions and coordination scheme.

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优化供应链金融动态信贷条款的博弈决策理论方法

供应链金融中的最优信用期决策往往需要考虑市场需求变化等因素，以动态的方式做出。我们研究的是动态信用期限优化问题（DCTOP），即在领导者-追随者博弈环境中，供应商在预测买方订单数量的同时，结合其生产和库存决策确定信用期限。我们首先使用连续时间最优控制模型来处理 DCTOP 问题，并通过分析结果描述了最优解的结构特性。为了补充结构特性，我们随后开发了离散时间双层编程模型，以提供可计算和可实现的数值解。一项全面的计算研究表明，在实践中，我们的最优解比启发式信贷期限规则具有显著优势，并就关键问题参数对最优解和协调方案的影响提供了管理见解。

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来源期刊

Annals of Operations Research 管理科学-运筹学与管理科学

CiteScore

7.90

自引率

16.70%

发文量

596

审稿时长

8.4 months

期刊介绍： The Annals of Operations Research publishes peer-reviewed original articles dealing with key aspects of operations research, including theory, practice, and computation. The journal publishes full-length research articles, short notes, expositions and surveys, reports on computational studies, and case studies that present new and innovative practical applications. In addition to regular issues, the journal publishes periodic special volumes that focus on defined fields of operations research, ranging from the highly theoretical to the algorithmic and the applied. These volumes have one or more Guest Editors who are responsible for collecting the papers and overseeing the refereeing process.