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Chinese Journal of Management Science ›› 2023, Vol. 31 ›› Issue (2): 150-161.doi: 10.16381/j.cnki.issn1003-207x.2020.0729

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Advance Payment Strategy of Non-instantaneous Food Based on EOQ Model

LI Ye-mei1, 2, HUANG Shao-an2   

  1. 1. Economics School, Zhongnan University of Economics and Law, Wuhan 430073, China;2. The Center for Economic Research,Shandong University, Jinan 250100, China
  • Received:2020-04-22 Revised:2021-03-23 Online:2023-02-20 Published:2023-02-28
  • Contact: 黄少安 E-mail:shaoanhuang@sdu.edu.cn

Abstract: Given the characteristics of low efficiency and serious waste in the development of food industry, it has become the focus of national green supply chain construction. Due to the small scale of most food enterprises, it is hard to seek external financing. Internal financing in the supply chain becomes an important way to improve efficiency and reduce the waste caused by the mismatch between supply and demand in the upstream and downstream of the supply chain. Based on the above, the supplier, retailer food enterprises and consumers are brought into the secondary trade credit system. For the method, the adjusted EOQ model is adopted to describe the above practical problems. Through the calculation of analytical solution and the numerical analysis of M enterprise in Jianghua County, the results show that food retailers do not bear the cost of non-instantaneous deterioration due to the existence of non-instantaneous deterioration time, so the strategy is usually better than the enterprise decision without considering the non-deterioration time. The discount factor of endogenous decision can make enterprises make better use of external conditions, set market segmentation price, improve the efficiency of supply chain decision-making, and the credit cycle and capital cost have a significant impact on retailers’ decision-making. In view of the low operational efficiency of the food supply chain, the classical EOQ model is adopted, and the endogenous and exogenous discount factor is brought into the advance payment strategy framework. Furthermore, the influence of the above two discount factors on the retailers’ decision of instant and non-instantaneous deteriorating food enterprises is compared, which to some extent enriches and perfects the classical EOQ research framework. In addition, some policy suggestions are provided for the construction and upgrading of China’s food supply chain, and certain theoretical and practical significance is proposed.

Key words: non-instantaneous deteriorating product; food supply chain; advance payment

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