Agrawal / Smith Retail Supply Chain Management

Quantitative Models and Empirical Studies
1. Auflage 2009
ISBN: 978-0-387-78903-3
Verlag: Springer US
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, Band 122, 340 Seiten

Reihe: International Series in Operations Research & Management Science

In today's retail environment, characterized by product proliferation, price competition, expectations of service quality, and advances in technology, many organizations are struggling to maintain profitability. Rigorous analytical methods have emerged as the most promising solution to many of these complex problems. Indeed, the retail industry has emerged as a fascinating choice for researchers in the field of supply chain management. In Retail Supply Chain Management, leading researchers provide a detailed review of cutting-edge methodologies that address the complex array of these problems. A critical resource for researchers and practitioners in the field of retailing, chapters in this book focus on three key areas: (1) empirical studies of retail supply chain practices, (2) assortment and inventory planning, and (3) integrating price optimization into retail supply chain decisions.

Autoren/Hrsg.

Agrawal, Narendra

Smith, Stephen A.

Inhaltsverzeichnis

1;Foreword;6
2;Preface;8
3;Contents;10
4;Contributors;12
5;Overview of Chapters;14
5.1;1.1 Background;14
5.2;1.2 The Focus Of Academic Research In This Volume;15
5.3;REFERENCES;21
6;Supply Chain Planning Processes for Two Major Retailers;23
6.1;2.1 Introduction;23
6.2;2.2 Supply Chain Description;25
6.3;2.3 Supply Chain Planning Processes;27
6.3.1;2.3.1 Product design and assortment planning;29
6.3.2;2.3.2 Sourcing & vendor selection;30
6.3.3;2.3.3 Logistics planning;31
6.3.4;2.3.4 Distribution planning and inventory management;32
6.3.5;2.3.5 Clearance and markdown optimization;33
6.3.6;2.3.6 Cross-channel optimization;34
6.4;2.4 Conclusion;34
6.5;REFERENCES;35
7;The effects of firm size and sales growth rate on inventory turnover performance in the U.S. retail sector;36
7.1;3.1 Introduction;36
7.2;3.2 Literature Review;39
7.3;3.3 Data Description;41
7.4;3.4 Adjusted Inventory Turnover;47
7.5;3.5 Hypotheses;48
7.5.1;3.5.1 Effect of firm size on inventory turnover;49
7.5.2;3.5.2 Effect of sales ratio on inventory turnover;51
7.6;3.6 Model;53
7.7;3.7 Results;54
7.8;3.8 Conclusions and Directions for Future Research;59
7.9;REFERENCES;62
8;The Role of Execution in Managing Product Availability;64
8.1;4.1 Introduction;64
8.2;4.2 Retail Execution Problems;65
8.2.1;4.2.1 Inventory record inaccuracy;66
8.2.2;4.2.2 Misplaced products;67
8.2.3;4.2.3 Root causes of execution problems;67
8.3;4.3 Factors that Exacerbate Execution Problems;69
8.3.1;4.3.1 Inventory levels;70
8.3.2;4.3.2 Product variety;71
8.3.3;4.3.3 Employee turnover and training;71
8.3.4;4.3.4 Employee workload;72
8.3.5;4.3.5 Employee effort;73
8.4;4.4 How Execution Problems Affect Inventory Planning;74
8.4.1;4.4.1 Effect of inventory record inaccuracy on inventory planning;74
8.4.2;4.4.2 Effect of misplaced products on inventory planning;75
8.4.3;4.4.3 Incorporating execution problems into existing research streams;76
8.5;4.5 Future Research Opportunities;77
8.6;4.1 APPENDIX 1;80
8.6.1;4.1.3 DeHoratius and Raman (2008);80
8.6.2;4.1.3 Ton and Raman (2006);82
8.6.3;4.1.3 Ton and Raman (2007);84
8.7;REFERENCES;86
9;Category captainship practices in the retail industry;89
9.1;5.1 Introduction;89
9.1.1;5.1.4 Category captainship implementations in practice;90
9.2;5.2 Review of Existing Research on Category Captainship;92
9.2.1;5.2.1 Emergence of category captainship;94
9.2.2;5.2.2 Delegation of the pricing decisions;96
9.2.3;5.2.3 Delegation of the assortment selection decision;100
9.2.4;5.2.4 Antitrust concerns;103
9.3;5.3 Impact of Category Captainship Practices on the Retail Industry;104
9.4;5.4 Future Research Directions;105
9.5;REFERENCES;107
10;Assortment planning: Review of literature and Industry Practice;109
10.1;6.1 Introduction;109
10.2;6.2 Related Literature;111
10.2.1;6.2.1 Product variety and product line design;112
10.2.2;6.2.2 Multi-item inventory models;113
10.2.3;6.2.3 Shelf space allocation models;114
10.2.4;6.2.4 Perception of variety;116
10.3;6.3 Demand Models;116
10.3.1;6.3.1 Consumer driven substitution;117
10.3.2;6.3.2 Multinomial logit;118
10.3.3;6.3.3 Exogenous demand model;120
10.3.4;6.3.4 Locational choice model;123
10.4;6.4 Assortment Selection and Inventory Planning;124
10.4.1;6.4.1 Assortment planning with multinomial logit: The van Ryzin and Mahajan model;124
10.4.1.1;6.4.1.1 Extensions;126
10.4.2;6.4.2 Assortment planning under exogenous demand models;127
10.4.2.1;6.4.2.1 Smith and Agrawal model;128
10.4.2.2;6.4.2.2 Kök and Fisher model;129
10.4.3;6.4.3 Assortment planning under locational choice;133
10.4.4;6.4.4 Assortment planning in decentralized supply chains;135
10.4.5;6.4.5 Dynamic assortment planning;136
10.4.6;6.4.6 Assortment planning models with multiple categories;137
10.5;6.5 Demand Estimation;140
10.5.1;6.5.1 Estimation of the MNL;140
10.5.1.1;6.5.1.1 With panel data;140
10.5.1.2;6.5.1.2 With sales transaction data;142
10.5.1.3;6.5.1.3 With sales summary data;142
10.5.2;6.5.2 Estimation of substitution rates in exogenous demand models;145
10.5.2.1;6.5.2.1 Estimation of stockout-based substitution;145
10.5.2.2;6.5.2.2 Estimation of assortment-based substitution;146
10.6;6.6 Assortment Planning in Practice;147
10.6.1;6.6.1 Best Buy;147
10.6.2;6.6.2 Borders;149
10.6.3;6.6.3 Tanishq;150
10.6.4;6.6.4 Albert Heijn;153
10.6.5;6.6.5 Comparison of academic and industry approaches to assortment planning;154
10.7;6.7 Directions for Future Research;156
10.8;REFERENCES;159
11;Managing variety on the retail shelf: Using household scanner panel data to rationalize assortments;164
11.1;7.1 Introduction;165
11.2;7.2 Literature Review;167
11.3;7.3 Consumer Model;171
11.4;7.4 The Retailer Assortment and Stocking Problem;174
11.4.1;7.4.1 Basic formulation;174
11.4.2;7.4.2 Modeling no purchase;177
11.4.3;7.4.3 Reformulation;178
11.4.4;7.4.4 Discussion of the optimization model and some special cases;179
11.5;7.5 Computational Study;180
11.5.1;7.5.1 Description of household scanner panel data;180
11.5.2;7.5.2 Solution technique for assortment problem;182
11.5.3;7.5.3 Optimal assortment;183
11.6;7.6 Summary, Extensions, and Future Work;186
11.7;7.1 Appendix;188
11.7.1;7.1.3 Proof of Proposition 4.1;188
11.8;REFERENCES;189
12;Optimizing Retail Assortments for Diverse Customer Preferences;192
12.1;8.1 Introduction;192
12.2;8.2 Model Description;194
12.2.1;8.2.1 Modeling the Consumer’s Purchase Decision;195
12.2.2;8.2.2 Retailer’s assortment optimization;200
12.2.3;8.2.3 Properties of the optimal assortment;204
12.2.4;8.2.4 Solving the Optimization Problem;206
12.3;8.3 Illustrative Application for a DVD Player Data Base;207
12.3.1;8.3.1 Comparing the Model’s Predictions to a Retailer’s Sales Data;208
12.3.2;8.3.2 Comparing the expected revenue of the retailer’s assortment vs. the optimal assortment;209
12.3.3;8.3.3 The impact of customer preference structure;209
12.4;8.4 Summary and Conclusion;212
12.5;References;213
13;Multi-Location Inventory Models for Retail Supply Chain Management;215
13.1;9.1 Introduction;215
13.2;9.2 Modeling Issues;216
13.2.1;9.2.1 The key decision;216
13.2.2;9.2.2 Modeling demand;217
13.2.3;9.2.3 Lead times;219
13.2.4;9.2.4 Allocation policies used at the warehouse;220
13.3;9.3 The General Periodic Review Inventory Model;220
13.3.1;9.3.1 Solution methodologies;222
13.3.2;9.3.2 Batch ordering;226
13.3.3;9.3.3 Lost sales;227
13.3.4;9.3.4 Decentralized environments (quantifying the value of information sharing);228
13.3.5;9.3.5 Lateral pooling;229
13.3.6;9.3.6 Fashion products;233
13.3.7;9.3.7 Transportation issues;234
13.3.8;9.3.8 Additional issues;235
13.4;9.4 Conclusions;236
13.5;9.5 Appendix: Continuous Review Inventory Systems;237
13.6;REFERENCES;239
14;Manufacturer-to-retailer versus manufacturer-to-consumer rebates in a supply chain;244
14.1;10.1 Introduction;245
14.2;10.2 Literature Review;248
14.3;10.3 Consumer and Retailer Rebates Together;250
14.4;10.4 Retailer Rebate Only;254
14.5;10.5 Consumer Rebate Only;256
14.6;10.6 Numerical Examples;259
14.7;10.7 Conclusion;262
14.8;10.1 APPENDIX;264
14.9;REFERENCES;276
15;Clearance pricing in retail chains;278
15.1;11.1 Introduction;278
15.1.1;11.1.1 Background;278
15.1.2;11.1.1 Trends in retail pricing;278
15.1.3;11.1.1 Mathematical models for clearance pricing;280
15.2;11.2 Related Research;280
15.3;11.3 Model Specifications and Optimality Conditions;283
15.3.1;11.3.1 Model formulation;284
15.3.1.1;11.3.1.1 The separable sales rate case;286
15.3.1.2;11.3.1.2 Compensating prices;287
15.3.1.3;11.3.1.3 Determining optimal inventory and maximum profit;288
15.4;11.4 Discrete Price Changes;288
15.4.1;11.4.1 Solution for the power function form;289
15.4.1.1;11.4.1.1 Optimal discrete pricing;291
15.4.1.2;11.4.1.2 Discrete pricing to match the optimal continuous sales;291
15.5;11.5 Numerical Examples;292
15.6;11.6 Conclusions;296
15.7;REFERENCES;297
16;Markdown Competition;299
16.1;12.1 Introduction;299
16.2;12.2 The Model;301
16.3;12.3 The Case of a Monopolistic Retailer;302
16.4;12.4 Markdown Competition;304
16.5;12.5 Managerial Implications and Conclusion;309
16.6;12.1 APPENDIX: A SKETCHY DERIVATION OF (7);311
16.7;REFERENCES;313
17;Index;314