Vender-managed inventory is a hot issue now.The efficiency of the supply chain under three different incentive contracts based on game theory is analyzed comparatively.The results show that in practice the cost-adding-profit supply contracts is inferior

which lead to the whole supply chain inefficient.The simple revenue-sharing contracts can improve the efficiency of the whole supply chain to a certain extent

but not optimal as well.The dualistic revenue-sharing incentive contracts can make the whole supply chain's efficiency optimized.