Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/22788
Title: The coordination of fashion supply chains with a risk-averse supplier under the markdown money policy
Authors: Shen, B
Choi, TM 
Wang, Y 
Lo, CKY 
Keywords: Apparel supply chain
Markdown money policy (MMP)
Mean-variance (MV) analysis
Risk averse
Issue Date: 2013
Publisher: Institute of Electrical and Electronics Engineers
Source: IEEE transactions on systems, man, and cybernetics. Part A, Systems and humans, 2013, v. 43, no. 2, p. 266-276 How to cite?
Journal: IEEE transactions on systems, man, and cybernetics. Part A, Systems and humans 
Abstract: Motivated by the popular markdown money policy (MMP) in the textiles and clothing (TC) industry, in this paper, we explore how this policy performs in a two-stage TC/fashion supply chain with an upstream risk-averse manufacturer (supplier) and a downstream risk-neutral retailer. Specifically, we investigate both the optimal decisions of the risk-averse supplier with respect to the MMP contract parameters and the optimal ordering decision of the risk-neutral retailer so that the whole supply chain can be coordinated (i.e., optimized). We then conduct a numerical study with the real data from two companies to explore the performance of the optimal MMP proposed in our paper. Important insights and specific implications to the industry practitioners are discussed.
URI: http://hdl.handle.net/10397/22788
ISSN: 1083-4427
EISSN: 1083-4419
DOI: 10.1109/TSMCA.2012.2204739
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