2021年5月31日下午，现代供应链管理研究院第五十四期学术论坛如期举行。本次论坛的主讲人是东北财经大学副教授陈文博，其报告题目为“Dynamic Inventory Control with Payment Delay and Credit Limit”。
The credit limit is the maximum amount of accounts payable that a firm owes to its supplier. This limit establishes a tie between the effective purchasing cost and the order quantity as well as the accounts payable level. We present a multi-period stochastic inventory model with payment delay and credit limit. Our model aims to capture the property of the optimal ordering policy with respect to the accounts payable and inventory states. For the backlogging and lost-sales cases, we present the method to reduce the dimension of state space. In both cases, the optimal order quantity is demonstrated to be decreasing in the accounts payable and inventory level of each age. In addition, the sensitivity of the optimal order quantity with respect to the accounts payable decreases with age. That is, the optimal order quantity is more sensitive to the younger accounts payable. In the backlogging case, the base-stock policy is not optimal due to the presence of credit limits. Somewhat surprisingly, our numerical example shows that the optimal order quantity is not necessarily increasing in the credit limit. Finally, based on the L♮-convexity of the cost-to-go function, we design a Linear Programming greedy (LP-greedy) heuristic policy for the infinite-horizon version of our model with independent and identically distributed demands. Numerical results show that our heuristic policy performs well.
陈文博，东北财经大学副教授，硕士生导师。本科毕业于北京师范大学，博士毕业于上海交通大学，伊利诺伊大学香槟分校(University of Illinois at Urbana-Champaign) 访问学者。主要研究领域包括库存控制、供应链管理、收益管理、动态规划等。其研究成果已发表在IISE Transactions，Omega，Operations Research Letters，Journal of the Operational Research Society等国际期刊上。