Quick Response Fashion Supply Chains in the Big Data Era

Tsan-Ming Choi ()
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Tsan-Ming Choi: The Hong Kong Polytechnic University

Chapter Chapter 14 in Optimization and Control for Systems in the Big-Data Era, 2017, pp 253-267 from Springer

Abstract: 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’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.

Keywords: Bayesian information updating; Quick response; Supply chain coordination; Supply chain optimization; Use of information (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/978-3-319-53518-0_14

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