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July  2006, 2(3): 255-268. doi: 10.3934/jimo.2006.2.255

Quick response in fashion supply chains with dual information updating

Tsan-Ming Choi 1,

1. 

Institute of Textiles and Clothing, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong, China

Received  July 2005 Revised  November 2005 Published  July 2006

We study in this paper the Quick Response (QR) policy in a two-echelon single-manufacturer single-retailer supply chain with a fashion product and dual information updating. To be specific, under Quick Response, a fashion retailer can collect market information towards the sales of a pre-seasonal product whose demand is closely related to the demand of the seasonal product. This information is then used to update both the unknown mean and unknown variance for the seasonal product's demand by Bayesian approach. We consider the situation that there are ordering and production costs uncertainty and differences. After deriving the analytical model, we show the conditions under which QR is beneficial to the supply chain. Measures that can be taken to create Pareto improvement scenario in the supply chain and the individual echelons are discussed. Managerial insights are developed.
Keywords: supply chain management, fashion business., Bayesian information updates, Quick response policy.
Mathematics Subject Classification: Primary: 58F15, 58F17; Secondary: 53C3.
Citation: Tsan-Ming Choi. Quick response in fashion supply chains with dual information updating. Journal of Industrial & Management Optimization, 2006, 2 (3) : 255-268. doi: 10.3934/jimo.2006.2.255
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