Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/19500
Title: Mean-variance analysis of Quick Response Program
Authors: Choi, TM 
Chow, PS
Keywords: Fashion supply chain management
Mean-variance analysis
Quick Response Program
Issue Date: 2008
Publisher: Elsevier
Source: International journal of production economics, 2008, v. 114, no. 2, p. 456-475 How to cite?
Journal: International journal of production economics 
Abstract: Quick Response Program (QRP) has been well established in fashion supply chains. It is known that QRP may not be equally good to all channel members and some measures have to be taken in order to achieve a win-win situation. However, little is known about the corresponding level of risk associated with QRP and some proposed measures. In light of this, we study QRP via a mean-variance (MV) approach. We illustrate how the measures such as price commitment policy, service-level commitment policy, and buy-back policy can be adjusted to achieve the MV win-win situation in which the channel members can be better off with considerations of both expected profit and risk. Numerical analyses are included and the analytical conditions for achieving both the supply chain channel coordination and the MV win-win situation are derived. Managerial insights are generated.
URI: http://hdl.handle.net/10397/19500
ISSN: 0925-5273
DOI: 10.1016/j.ijpe.2007.06.009
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