中文摘要：

本文以一个供应商和一个采购商组成的二级供应链为例，建立同时考虑库存成本和运输成本的物流成本模型，比较分析传统供应链和供应商管理库存两种协调机制的物流成本优化能力。研究发现：在集中决策的情况下，两种协调机制的供应链物流成本是相同的；在分散决策的情况下，传统供应链的协调机制在采购商和供应商分别负担运输成本的两种情况下物流成本均不会优于供应商管理库存协调机制的物流成本；传统供应链在集中决策的情况下能够实现供应链物流成本的最优，在分散决策的情况下由供应商负担物流成本有利于物流成本的优化。

英文摘要：

This paper deals with a two-stage supply chain including one supplier and one purchaser, establishes a model considering both inventory cost and transportation cost. The two coordination mechanisms： traditional supply chain and vendor-managed inventory, are analyzed on their logistics cost optimization capabilities under the centralized and decentralized decision-making conditions. The conclusions are that the logistics cost are same under the centralized decision-making no matter supplier or purchaser offord transportation cost; vendor-managed inventory coordination mechanism is better than traditional supply chain coordination mechanism under the decentralized decision-making.