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• W2089762011 abstract "Traditionally, fashion products have incurred high losses due to stockouts and inventory obsolence because long lead times coupled with a concentrated selling season force all or at least most production to be committed before demand information is available. Under a Quick Response system, lead times are shortened sufficiently to allow a greater portion of production to be scheduled in response to initial demand. We model and analyze the decisions required under Quick Response and give a method for estimating the demand probability distributions needed in our model. We applied these procedures with a major fashion skiwear firm and found that cost relative to the current informal response system was reduced by enough to increase profits by 60%. Relative to the cost that would have been incurred if no response were used, optimized response reduces cost by enough to roughly quadruple profits." @default.
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• W2089762011 date "1996-02-01" @default.
• W2089762011 modified "2023-09-30" @default.
• W2089762011 title "Reducing the Cost of Demand Uncertainty Through Accurate Response to Early Sales" @default.
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• W2089762011 doi "https://doi.org/10.1287/opre.44.1.87" @default.
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