Abstract: A supply chain composed of one manufacturer and two competitive retailers is considered. The retailers sell a single product to the customers over a short selling season. Under two different order conditions: one ordering opportunity and two ordering opportunities, research is conducted for how the manufacturer designs the buyback and expedited production strategies to maximize its expected profit and how the retailers decide their orders to maximize their expected profit. A model is presented to describe this problem. With this model, optimal solution can be found and properties of the problem are revealed. Numerical example is provided to illustrate the model and some meaningful management implications.