Quick response fashion supply chains in the big data era
Journal
International Series in Operations Research and Management Science
Journal Volume
252
Pages
253-267
Date Issued
2017
Author(s)
Abstract
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? 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?in coordination can be achieved in the quick response fashion supply chain using the commonly seen wholesale pricing markdown contract. Insights are generated. ? 2017, Springer International Publishing AG.
Subjects
Bayesian information updating; Quick response; Supply chain coordination; Supply chain optimization; Use of information
Publisher
Springer New York LLC
Type
book part