Incorporating social media observations and bounded rationality into fashion quick response supply chains in the big data era
Journal
Transportation Research Part E: Logistics and Transportation Review
Journal Volume
114
Pages
386-397
Date Issued
2018
Author(s)
Abstract
In this paper, we study the fashion quick response program with social media observations, demand forecast updating, and a boundedly rational retailer. We analytically find that the likelihood of having good social media comments on the product plays a critical role in affecting the value of quick response, and its impact is mediated by the fashion retailer's prior attitude towards the market demand. We then demonstrate how a Pareto improving situation can be achieved under quick response, and uncover that manipulating social media comments can benefit the manufacturer under the surplus sharing contract, but not under the two-part tariff contract. ? 2016 Elsevier Ltd
Subjects
Behavioral operations; Big data; Bounded rationality; Quick response program; Social media; Supply chain management
SDGs
Other Subjects
analytical framework; forecasting method; manufacturing; observational method; social media; tariff structure
Publisher
Elsevier Ltd
Type
journal article