| Summary: | 碩士 === 中原大學 === 工業工程研究所 === 81 === Trade credit is a short-term credit that is the condition of
permissible delay in payment when firms make purchases from
their suppliers. Trade credit usually affects the purchases
which is relate to the amounts of inventory, and then would
influence the fluctuations of inventory costs. The purpose of
this research is to solve the shortest credit period that can
be adopted by the firms. Futhermore, we also investigate the
effect of trade credit on inventory costs and quantities and
the decisions on inventory policies. The basic assumption of
this research is that trade credit is unambiguously linked
to the stocks ordered and held; besides, the length of
credit period could be determined by firms themselves. After
the earning power ratio, variable cost ratio, cost of funds,
sales ratio in various credit terms, and the ratio the
discount is taken or not were assessed, one could obtain the
shortest credit period which can be adopted by the firms.
The firm would get some extra interest, if the credit period
adopted is longer than the one that the firms can be
adopted. Then we take account the trade credit into
inventory situations, and we recognize that in the credit
period the external holding cost financing is only paid for
insurance, storage, depreciation, and diminution, and then
saves some interest and opportunity cost of funds. By using
the solved period and mathematical models, we can modify some
existing inventory models, and show that the credit purchases
cause the changes of order quantities, reorder point, and
order cycle in both deterministic demand and stochastic demand
systems, and these changes can reduce the total inventory
variable costs.
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