TY - CHAP
T1 - Quick response fashion supply chains in the big data era
AU - Choi, Tsan Ming
PY - 2017/1/1
Y1 - 2017/1/1
N2 - The quick response strategy has been widely adopted in the fashion industry. With a shortened lead time, quick response allows fashion supply chain members to conduct forecast information updating which helps to reduce demand uncertainty. In the big data era, forecast information updating is even more effective as more data points can be collected easily to improve forecasting. In this paper, after reviewing the related literature, we explore how the quick response strategy with n observations can improve the whole fashion supply chain’s performance. We study how the number of observations affects the expected values of quick response for the fashion supply chain, the fashion retailer, and the fashion manufacturer. Then, we analytically how the robust win–win coordination can be achieved in the quick response fashion supply chain using the commonly seen wholesale pricing markdown contract. Insights are generated.
AB - The quick response strategy has been widely adopted in the fashion industry. With a shortened lead time, quick response allows fashion supply chain members to conduct forecast information updating which helps to reduce demand uncertainty. In the big data era, forecast information updating is even more effective as more data points can be collected easily to improve forecasting. In this paper, after reviewing the related literature, we explore how the quick response strategy with n observations can improve the whole fashion supply chain’s performance. We study how the number of observations affects the expected values of quick response for the fashion supply chain, the fashion retailer, and the fashion manufacturer. Then, we analytically how the robust win–win coordination can be achieved in the quick response fashion supply chain using the commonly seen wholesale pricing markdown contract. Insights are generated.
KW - Bayesian information updating
KW - Quick response
KW - Supply chain coordination
KW - Supply chain optimization
KW - Use of information
UR - http://www.scopus.com/inward/record.url?scp=85019121944&partnerID=8YFLogxK
U2 - 10.1007/978-3-319-53518-0_14
DO - 10.1007/978-3-319-53518-0_14
M3 - Chapter in an edited book (as author)
T3 - International Series in Operations Research and Management Science
SP - 253
EP - 267
BT - International Series in Operations Research and Management Science
ER -