Journal
TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW
Volume 114, Issue -, Pages 386-397Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.tre.2016.11.006
Keywords
Social media; Bounded rationality; Behavioral operations; Big data; Supply chain management; Quick response program
Categories
Funding
- Research Grants Council of Hong Kong under the General Research Fund [PolyU5421-12H]
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In this paper, we study the fashion quick response program with social media observations, demand forecast updating, and a boundedly rational retailer. We analytically find that the likelihood of having good social media comments on the product plays a critical role in affecting the value of quick response, and its impact is mediated by the fashion retailer's prior attitude towards the market demand. We then demonstrate how a Pareto improving situation can be achieved under quick response, and uncover that manipulating social media comments can benefit the manufacturer under the surplus sharing contract, but not under the two-part tariff contract. (C) 2016 Elsevier Ltd. All rights reserved.
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