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Demand For Variety And Product Uncertainty
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Book Synopsis Demand for Variety and Product Uncertainty by : William Allender
Download or read book Demand for Variety and Product Uncertainty written by William Allender and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many consumer demand situations exist in which individuals have a preference for variety that leads to multiple products being chosen. For example, clothing, food, books, and music are regularly purchased several items at a time. Prior to a purchase decision consumers face product uncertainty that is resolved through a costly search process that is implicitly affected by their demand for variety. Despite the prevalence of both product uncertainty and a preference for variety both topics are often studied in isolation from each other. In this paper we propose a general demand framework of endogenous consideration set formation in the presence of variety seeking behavior that accommodates a mixture of corner and interior solutions. Using a closed form expression of the model we analyze simulated data and a scanner-panel data set of laundry detergent purchases and find that ignoring either variety or uncertainty leads to biased parameter estimates and inaccurate consideration set size predictions. Using the laundry detergent results we simulate the elasticity of search and find some brands can significantly increase the likelihood of being searched with minor price reductions, while other brands require significantly more effort.
Book Synopsis Product Variety and Demand Uncertainty by : Dennis W. Carlton
Download or read book Product Variety and Demand Uncertainty written by Dennis W. Carlton and published by . This book was released on 2004 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show that demand uncertainty leads to vertical product differentiation even when consumers are homogeneous. When a firm anticipates that its inventory or capacity may not be fully utilized, product variety can reduce its expected costs of excess capacity. When the firm offers a continuum of product varieties, the highest quality product has the highest profit margins but the lowest percentage margin, while the lowest quality product has the highest percentage margin but the lowest absolute margin. We derive these results in both a monopoly model and a variety of different competitive models. We conclude with a discussion of empirical predictions together with a brief discussion of supporting evidence available from marketing studies.
Book Synopsis Product Variety and Demand Uncertainty by : Dennis W. Carlton
Download or read book Product Variety and Demand Uncertainty written by Dennis W. Carlton and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We demonstrate that demand uncertainty can explain equilibrium product variety in the presence of sunk costs. Product variety is an efficient response to uncertainty because it reduces the expected costs associated with excess capacity. We find that within the firm's product line, the highest quality product has the highest profit margin but the lowest percentage margin, while the lowest quality product has the highest percentage margin but the lowest absolute margin. Both of these relationships are consistent with evidence available from marketing studies.
Book Synopsis Production Management by : Yacob Khojasteh
Download or read book Production Management written by Yacob Khojasteh and published by Taylor & Francis. This book was released on 2017-11-07 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory control is an essential task in production management. An effective inventory control can significantly reduce the holding cost and hence, total production cost. Selecting and implementing a suitable production control system plays an important role in inventory reduction and performance improvement of a production system. Since the introduction of Toyota’s just-in-time philosophy, pull control systems have been adopted by numerous companies worldwide, both in the manufacturing and service sectors. This book provides some recent developments in production management and presents modeling and analysis tools for pull production control systems. It contributes by combining theoretical findings and case study analysis results with a practical and contemporary view on how to effectively manage and control production systems. Each chapter in this book focuses on a specific topic in production control systems, allowing readers to identify the chapters that relate to their interests. More specifically, the book is presented in three sections. The first section focuses on the design and implementation aspects of the pull production control systems, as well as performance evaluation approaches for pull systems. The second section presents a recent and comprehensive literature review. Three different case studies on implementation of pull production control systems are presented in the last section. This book can be used as an essential source for students and scholars who need to specifically study the pull control systems. Since the superiority of these systems is controversial, the book can also provide an interesting and informative read for practitioners, managers, and employees who need to deepen their knowledge on pull production management systems.
Book Synopsis Supply Chain Management by : Dr. Nitin Junnarkar
Download or read book Supply Chain Management written by Dr. Nitin Junnarkar and published by Archers & Elevators Publishing House. This book was released on with total page 639 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Demand for Variety Under Costly Consumer Search by : William Jacob Allender
Download or read book Demand for Variety Under Costly Consumer Search written by William Jacob Allender and published by . This book was released on 2013 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers search before making virtually any purchase. The notion that consumers engage in costly search is well-understood to have deep implications for market performance. However to date, no theoretical model allows for the observation that consumers often purchase more than a single product in an individual shopping occasion. Clothing, food, books, and music are but four important examples of goods that are purchased many items at a time. I develop a modeling approach that accounts for multi-purchase occasions in a structural way. My model shows that as preference for variety increases, so does the size of the consideration set. Search models that ignore preference for variety are, therefore, likely to under-predict the number of products searched. It is generally thought that lower search costs increase retail competition which pushes prices and assortments down. However, I show that there is an optimal number of products to offer depending on the intensity of consumer search costs. Consumers with high search costs prefer to shop at a store with a large assortment of goods and purchase multiple products, even if the prices that firm charges is higher than competing firms' prices. On the other hand, consumers with low search costs tend to purchase fewer goods and shop at the stores that have lower prices, as long as the store has a reasonable assortment offering. The implications for market performance are dramatic and pervasive. In particular, the misspecification of demand model in which search is important and/or multiple discreteness is observed will produce biased parameter estimates leading to erroneous managerial conclusions.
Book Synopsis Production Control in Practice by : Henny Van Ooijen
Download or read book Production Control in Practice written by Henny Van Ooijen and published by John Wiley & Sons. This book was released on 2024-05-09 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Production Control in Practice Practice-oriented coverage of production planning and control processes for goods and services, written for any industry Production Control in Practice explores the operational control of production and inventory processes in organizations across industries, covering both tangible and intangible products and offering viable, efficient solutions to characteristic production control problems, such as what goods to produce when and how. A number of examples/stylized applications are included to help readers understand and apply the discussed concepts and theories to their own organizations. This book distinguishes between the control of production units and the control of goods flow between these units and the market and discusses various coordination and material supply control mechanisms relevant to supply chains. It also presents a typology of production situations found in practice, using a structured approach to discussing the relevant control decisions for each situation. This book is unique because (basic) control decisions are discussed for the different characteristic Decoupling Point Control and Production Unit Control situations from a holistic point of view, taking into account both mathematical considerations as well as various situational factors. Sample topics covered in Production Control in Practice include: Terminology and concepts used in production control, including complexity, uncertainty, and flexibility Types of release triggers, covering just-in-time versus just-in-case and push versus pull in logistics Horizontal and vertical decomposition, and time series-related forecasting for stationary demand versus demand with trend Order size, covering optimal batch size in case of fixed order size, relaxation of assumptions, and single period considerations MRP systems, covering Material Requirements Planning (MRP-I) and Manufacturing Resource Planning Systems (MRP-II) With excellent coverage of the subject across different products and industries and several examples to help readers follow along, Production Control in Practice is an ideal reference for bachelor students from universities of applied sciences and academic bachelor students, as well as practitioners in related disciplines.
Book Synopsis Business Models and ICT Technologies for the Fashion Supply Chain by : Rinaldo Rinaldi
Download or read book Business Models and ICT Technologies for the Fashion Supply Chain written by Rinaldo Rinaldi and published by Springer. This book was released on 2018-09-28 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents high-quality original contributions on the fashion supply chain. A wide spectrum of application domains are covered, processing of big data coming from digital and social media channels, fashion new product development, fashion design, fashion marketing and communication strategy, business models and entrepreneurship, e-commerce and omni-channel management, corporate social responsibility, new materials for fashion product, wearable technologies. The contents are based on presentations delivered at IT4Fashion 2017, the 7th International Conference in Business Models and ICT Technologies for the Fashion Supply Chain, which was held in Florence, Italy, in April 2017, and at IT4Fashion 2018, the 8th edition of the same conference, which was held in Florence, Italy, in April 2018. This conference series represents a targeted response to the growing need for research that reports and debates supply chain business models and technologies applied to the fashion industry, with the aim of increasing knowledge in the area of product lifecycle management and supply chain management in that industry.
Book Synopsis The Territorial Organization of Variety by : Jerry Patchell
Download or read book The Territorial Organization of Variety written by Jerry Patchell and published by Ashgate Publishing, Ltd.. This book was released on 2011 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within the modern global economy, the wine industry seems to be an anomaly: thousands of small companies provide a vast variety of highly differentiated products, competing successfully with multinational corporations. This book argues that this is in fact the result of a sophisticated alternative organization of production on the part of the winegrowers, who have developed a set of strategies and tools appropriate to their markets and regulatory contexts.
Book Synopsis The Practitioner's Guide to POLCA by : Rajan Suri
Download or read book The Practitioner's Guide to POLCA written by Rajan Suri and published by Taylor & Francis. This book was released on 2018-04-09 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: POLCA (Paired-cell Overlapping Loops of Cards with Authorization) is a card-based visual control system that manages the flow of jobs through the shop floor: at each operation, it controls which job should be worked on next to meet delivery targets. POLCA ensures that upstream operations use their capacity effectively by working on jobs that are needed downstream, while at the same time preventing excessive work-in-process (WIP) build-ups when bottlenecks appear unexpectedly. POLCA is particularly suited to companies manufacturing high-mix, low-volume and customized products. Such companies struggle with long lead times, late deliveries, and daily expediting to meet delivery dates. ERP systems are not designed to deal with this highly variable environment, and add-on software such as Finite Capacity Scheduling systems can require complex installation. Also, the Kanban system does not work well with low-volume or custom production. POLCA has delivered impressive results in such environments. It does not require any complex software implementation: it can be used without an ERP system or it can seamlessly complement an existing ERP system. This book: Provides a step-by-step roadmap on how to implement POLCA; invaluable for both companies that wish to implement POLCA as well as consultants and academics advising such companies. Explains the concepts in practical and easy-to-understand terms by showing detailed shop-floor examples. Includes more than 100 illustrations for understanding how POLCA works as well as for elaborating on details of the implementation steps. Contains case studies written by company owners and executives documenting their POLCA implementation process and the results achieved in various industries in six countries.
Book Synopsis Handbook of Strategic Account Management by : Diana Woodburn
Download or read book Handbook of Strategic Account Management written by Diana Woodburn and published by John Wiley & Sons. This book was released on 2014-03-17 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: A compilation of the established knowledge in strategic account management While companies and academics expend tremendous effort on mass marketing, they often overlook their immediate customers (which are critical in both senses) and hence the importance of strategic account management (SAM). This handbook is a compilation of papers that present researched knowledge of SAM across the academic community which fills a void in the existing academic literature. Handbook of Strategic Account Management identifies drivers of the SAM approach, key issues and success factors, operational needs and areas still awaiting exploration. Each paper includes an overall referenced summary of the tenets of SAM relevant to the area it reports, and together with the combined list of references, it creates an indispensable resource for academic readers, students, and researchers. Handbook of Strategic Account Management is written by over 40 knowledgeable experts with substantial experience of SAM from teaching, researching, writing and advising companies on why and how it works, spread widely across Europe and the US. It represents the balanced, researched body of knowledge in SAM and will be an invaluable resource to anyone exploring the approach, whether for a student thesis, for original research or for answers on how to approach SAM as a company initiative. "Today’s strategic, key and global account management professionals owe thanks to a small community of academic researchers who, over the past three decades have been pioneers in identifying, cataloguing and analyzing the selling and business management practices of an emerging profession we now call strategic account management. This Handbook is an important milestone to mark SAM’s still evolving impact on corporate business strategies and its ever-increasing relevance as a proven engine for growth in business-to-business strategic customer relationships." Bernard Quancard,President & CEO of SAMA (US-based Strategic Account Management Association with over 3,000 members worldwide) Yana Atanasova Bjorn Ivens Toni Mikkola Ivan Snehota Audrey Bink Ove Jensen Stefanos Mouzas Kaj Storbacka Per-Olof Brehmer Robert Krapfel Peter Naud頠 Olavi Uusitalo Noel Capon Antonella La Rocca Jukka Ojasalo Tom Vanderbiesen Simon Croom Sylvie Lacoste Catherine Pardo Stefan Wengler Osman Gök Nikala Lane Nigel Piercy Kevin Wilson Paolo Guenzi Régis Lemmens Michael Pusateri Diana Woodburn Stephan Henneburg Tommi Mahlamäki Jakob Rehme John Workman Sue Holt Malcolm McDonald Sanjiy Sengupta George Yip Christian Homburg Florin Mihoc Christoph Senn Judy Zolkiewski
Author :Management Association, Information Resources Publisher :IGI Global ISBN 13 :1615209700 Total Pages :2476 pages Book Rating :4.6/5 (152 download)
Book Synopsis Business Information Systems: Concepts, Methodologies, Tools and Applications by : Management Association, Information Resources
Download or read book Business Information Systems: Concepts, Methodologies, Tools and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2010-06-30 with total page 2476 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Information Systems: Concepts, Methodologies, Tools and Applications offers a complete view of current business information systems within organizations and the advancements that technology has provided to the business community. This four-volume reference uncovers how technological advancements have revolutionized financial transactions, management infrastructure, and knowledge workers.
Author : Publisher :IOS Press ISBN 13 : Total Pages :7289 pages Book Rating :4./5 ( download)
Download or read book written by and published by IOS Press. This book was released on with total page 7289 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Harinder Singh Jagdev Publisher :Springer Science & Business Media ISBN 13 :1461503655 Total Pages :275 pages Book Rating :4.4/5 (615 download)
Book Synopsis Strategic Decision Making in Modern Manufacturing by : Harinder Singh Jagdev
Download or read book Strategic Decision Making in Modern Manufacturing written by Harinder Singh Jagdev and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic Decision Making in Modern Manufacturing introduces and explains the AMBIT (Advanced Manufacturing Business ImplemenTation) approach, which has been developed to bridge the gap between strategic management considerations and the operational effects of technology investment decisions on the manufacturing organisation, so that the likely impact of new manufacturing technology and/or programme implementations can be evaluated, anticipated and accurately predicted. The AMBIT approach focuses specifically on the non-financial aspects of such investment decisions and offers an approach that allows a manager, or more frequently a management team, to understand the impacts of a new technology or a new programme on the manufacturing organisation in terms of manufacturing performance.
Book Synopsis Supply Chain Management Models by : Hamed Fazlollahtabar
Download or read book Supply Chain Management Models written by Hamed Fazlollahtabar and published by CRC Press. This book was released on 2018-01-02 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply Chain Management (SCM) is a wide field in which several specialties are included. In general, operations and production management players use SCM to organize the problems and analyze the solution approaches. Due to these points, a reference which can encompass a range of problems and their modelling approaches is required. This book will contain three general sections of forward, reverse, intelligent, and uncertain problems. While the book provides different problems in the three commonly used categories in SCM, it is very helpful for the readers to find out, or adapt their own application studies to the ones given in the book and employ the corresponding modeliing approach.
Book Synopsis Mass Customization by : Flavio S. Fogliatto
Download or read book Mass Customization written by Flavio S. Fogliatto and published by Springer Science & Business Media. This book was released on 2010-11-09 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mass customization (MC) has been hailed as a successful operations strategy across manufacturing and service industries for the past three decades. However, the wider implications of using MC approaches in the broader industrial and economic environment are not yet clearly understood. Mass Customization: Engineering and Managing Global Operations presents emerging research on the role of MC and personalization in today’s international operations context. The chapters cover MC in the context of global industrial economics and operations. Moreover, the book discusses MC topics that are relevant to the manufacturing and service sectors, such as: • product platforms; • learning curve modeling; • additive manufacturing; and • service customization. Case studies in manufacturing (e.g., apparel and transportation) and services (e.g., banking and virtual worlds) are also included. Mass Customization: Engineering and Managing Global Operations is a valuable text for mass customization researchers and practitioners. Researchers will find a selection of chapters prepared by internationally renowned authors, comprising most of their recent research in MC. Engineering professionals will be drawn by the vivid discussion of operational aspects and methods of MC, as well as by the selection of cases illustrating their practical application.
Download or read book Supply Chain written by Vedran Kordic and published by BoD – Books on Demand. This book was released on 2008-02-01 with total page 582 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally supply chain management has meant factories, assembly lines, warehouses, transportation vehicles, and time sheets. Modern supply chain management is a highly complex, multidimensional problem set with virtually endless number of variables for optimization. An Internet enabled supply chain may have just-in-time delivery, precise inventory visibility, and up-to-the-minute distribution-tracking capabilities. Technology advances have enabled supply chains to become strategic weapons that can help avoid disasters, lower costs, and make money. From internal enterprise processes to external business transactions with suppliers, transporters, channels and end-users marks the wide range of challenges researchers have to handle. The aim of this book is at revealing and illustrating this diversity in terms of scientific and theoretical fundamentals, prevailing concepts as well as current practical applications.
