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A supply chain (SC) is a whole set of activities involved in taking and managing a product or products from the point of production to the point of consumption. Between these extremes, there are many activities ranging from simple to complex that are carried out to satisfy the consumption side in meeting their varied demands and the production end in increasing performance in its entirety. These activities can either be functional or operational or both. To enhance the smooth transition, healthy collaborative initiatives are important. This research seeks to evaluate the meaningful contributions of collaborative inventory management for seasonal products with demand uncertainties having a single order in a cycle through newsvendor and buyback contract for the mutual benefits of a two-tier SC. If these uncertainties are not properly managed, they will adversely affect the players of the SC. To mitigate these negative effects, a Monte Carlo simulation model was used to optimize the decision variable to improve the performance of the SC and at the same time meeting service level. The results indicate that the efficient and collaborative management of these products through buyback contract could potentially improve the entire SC significantly.