Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/16441
Title: Quick response in fashion supply chains with dual information updating
Authors: Choi, TM 
Keywords: Quick response policy
Bayesian information updates
Supply chain management
Fashion business
Issue Date: 2006
Publisher: American Institute of Mathematical Sciences
Source: Journal of industrial and management optimization, 2006, v. 2, no. 3, p. 255-268 How to cite?
Journal: Journal of industrial and management optimization 
Abstract: We study in this paper the Quick Response (QR) policy in a two-echelon single-manufacturer single-retailer supply chain with a fashion product and dual information updating. To be specific, under Quick Response, a fashion retailer can collect market information towards the sales of a pre-seasonal product whose demand is closely related to the demand of the seasonal product. This information is then used to update both the unknown mean and unknown variance for the seasonal product's demand by Bayesian approach. We consider the situation that there are ordering and production costs uncertainty and differences. After deriving the analytical model, we show the conditions under which QR is beneficial to the supply chain. Measures that can be taken to create Pareto improvement scenario in the supply chain and the individual echelons are discussed. Managerial insights are developed.
URI: http://hdl.handle.net/10397/16441
ISSN: 1547-5816
EISSN: 1553-166X
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