Journal
IEEE TRANSACTIONS ON ENGINEERING MANAGEMENT
Volume 60, Issue 4, Pages 676-686Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TEM.2012.2190986
Keywords
Agent-based simulation; consumer response; market share; retail stockout; supply network disruption management
Categories
Funding
- National Science Foundation of China [71071084]
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In today's highly dynamic and competitive environment, companies are under the pressure to improve their supply chain strategy in order to be more responsive to customer demand. However, supply chains are susceptible to unanticipated events that make responsive supply chain management a challenging task. One such disruption event is a product stockout at the retailer. In this paper, we investigate retail stockouts through the development of an agent-based simulation model in order to develop a better understanding of the effect of different stockout lengths for different products (with different consumer response profiles to stockouts) on both the retailer and the manufacturer of the product. We consider the change of market share as a measure of resilience for both the manufacturer and the retailer to examine the impact of the stockout. Insights are developed for manufacturers and retailers in responding to the stockout disruption.
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