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Product Variety And Demand Uncertainty
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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 Product Variety Management by : Teck-Hua Ho
Download or read book Product Variety Management written by Teck-Hua Ho and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product proliferation has become a common phenomenon. Most companies now offer hundreds, if not thousands, of stock keeping units (SKUs) in order to compete in the market place. Companies with expanding product and service varieties face with problems of obtaining accurate demand forecasts, controlling production and inventory costs, and providing high quality and good delivery performance for the customers. Marketing managers often advocate widening product lines for increasing revenue and market share. However, the breadth of product line can also decrease the efficiency of manufacturing processes and distribution systems. Thus firms must weigh the benefits of product variety against its cost in order to determine the optimal level of product variety to offer to their customers. Academics and practitioners are interested in several fundamental questions about product variety. For instance, why do companies extend their product lines? Do consumers care about product variety? Will a brand with more variety enjoy higher market share? How should product variety be measured? How can a company exploit its product and process design to deliver a higher level of product variety quickly and cheaply? What should the level of product variety be and what should the price of each of the product variants be? What kind of 'challenges would a company face in offering a high level of product variety and how can these obstacles be overcome? The solutions to these questions span multiple functions and disciplines.
Book Synopsis Quantitative Models for Supply Chain Management by : Sridhar Tayur
Download or read book Quantitative Models for Supply Chain Management written by Sridhar Tayur and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 851 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative models and computer-based tools are essential for making decisions in today's business environment. These tools are of particular importance in the rapidly growing area of supply chain management. This volume is a unified effort to provide a systematic summary of the large variety of new issues being considered, the new set of models being developed, the new techniques for analysis, and the computational methods that have become available recently. The volume's objective is to provide a self-contained, sophisticated research summary - a snapshot at this point of time - in the area of Quantitative Models for Supply Chain Management. While there are some multi-disciplinary aspects of supply chain management not covered here, the Editors and their contributors have captured many important developments in this rapidly expanding field. The 26 chapters can be divided into six categories. Basic Concepts and Technical Material (Chapters 1-6). The chapters in this category focus on introducing basic concepts, providing mathematical background and validating algorithmic tools to solve operational problems in supply chains. Supply Contracts (Chapters 7-10). In this category, the primary focus is on design and evaluation of supply contracts between independent agents in the supply chain. Value of Information (Chapters 11-13). The chapters in this category explicitly model the effect of information on decision-making and on supply chain performance. Managing Product Variety (Chapters 16-19). The chapters in this category analyze the effects of product variety and the different strategies to manage it. International Operations (Chapters 20-22). The three chapters in this category provide an overview of research in the emerging area of International Operations. Conceptual Issues and New Challenges (Chapters 23-27). These chapters outline a variety of frameworks that can be explored and used in future research efforts. This volume can serve as a graduate text, as a reference for researchers and as a guide for further development of this field.
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 Production Planning and Pricing with Shared Capacity, Demand Uncertainty, and Lead-time Sensitive Customers by : Panupol Lerssrisuriya
Download or read book Production Planning and Pricing with Shared Capacity, Demand Uncertainty, and Lead-time Sensitive Customers written by Panupol Lerssrisuriya and published by . This book was released on 1998 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Modern Industrial Organization by : Dennis W. Carlton
Download or read book Modern Industrial Organization written by Dennis W. Carlton and published by Addison Wesley. This book was released on 2000 with total page 808 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text offers modern coverage of modern industrial organizations, including strategic behaviour and game theory. It uses a unified structure to analyse theories and empirical evidence about the organization of firms and indutries.
Book Synopsis Variety Induced Complexity in Mass Customization by : Nizar Abdelkafi
Download or read book Variety Induced Complexity in Mass Customization written by Nizar Abdelkafi and published by Erich Schmidt Verlag GmbH & Co KG. This book was released on 2008 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 The Territorial Organization of Variety by : Jerry Patchell
Download or read book The Territorial Organization of Variety written by Jerry Patchell and published by Routledge. This book was released on 2016-03-03 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: The wine industry appears to be an anomaly within the modern global economy. Thousands of small companies provide a vast variety of highly differentiated products and compete successfully with multinational corporations. Using case studies from Bordeaux, Napa Valley and Chianti Classico, this book argues that rather than being a vestige or a serendipitous phenomenon, this variety results from a sophisticated alternative organization of production. Integrating differentiation and branding into Ostrom's common pool resource theory, Jerry Patchell shows how winegrowers in a territory can use self-governance to protect and promote their common reputation while enhancing each producer's ability to differentiate their wines and build their own brand. Bordeaux, Napa, and Chianti Classico share several common challenges, but develop a set of strategies and tools appropriate to their markets and regulatory contexts.
Book Synopsis A Stitch in Time by : Frederick H. Abernathy
Download or read book A Stitch in Time written by Frederick H. Abernathy and published by Oxford University Press. This book was released on 1999-07-29 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: The apparel and textile industries have always been at the mercy of rapidly changing styles and fickle customers who want the latest designs while they are still in fashion. The result for these businesses, often forced to forecast sales and order from suppliers with scant information about volatile demand, is a history of stock shortages, high inventories, and costly markdowns. But, as the authors explain in A Stitch in Time, technological advances in the 1980s paved the way for a new concept in retailing--lean retailing. Pioneered by companies like WAL-MART, lean retailing has reshaped the way that products are ordered, virtually eliminating delays from distribution center to sales rack by drawing on sales data captured electronically at the checkout counter. Armed with up-to-the-minute data about colors, sizes, styles, and geographic sales, apparel and textile companies now must be able to respond rapidly to real-time orders efficiently based on new approaches to distributing merchandise, forecasting, planning, organizing production, and managing supplier relations. A Stitch in Time shows that even in the face of burgeoning product proliferation, companies that successfully adapt to the world of lean retailing can reduce inventory risk, reduce costs, and increase profitability while improving their responsiveness to the ever-changing tastes of customers. Based on the success of these practices in the apparel industry, lean retailing practices are propagating through a growing number of consumer product industries. A richly detailed and resonant account, A Stitch in Time brilliantly captures both the history and future of the retail-apparel-textile channel and offers bold insights on the changes and challenges facing retailers and manufacturers in all segments of our rapidly changing economy.
Book Synopsis Real Options in Engineering Design, Operations, and Management by : Harriet Black Nembhard
Download or read book Real Options in Engineering Design, Operations, and Management written by Harriet Black Nembhard and published by CRC Press. This book was released on 2009-10-27 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given that engineering flexibility can potentially provide a competitive advantage, the question then becomes: Precisely how valuable is this flexibility? However, traditional methods often fail to accurately capture the economic value of investments in an environment of widespread uncertainty and rapid change. The real options method represents th
Book Synopsis Dispersed Manufacturing Networks by : Rob Dekkers
Download or read book Dispersed Manufacturing Networks written by Rob Dekkers and published by Springer Science & Business Media. This book was released on 2009-06-26 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dispersed Manufacturing Networks provides new perspectives of dispersed manufacturing systems from three points of view. The first is that offered by complex systems theory, particularly on how agents in these industrial networks interact and how that provides possibility for coordination. The book also elaborates on issues of coordination and planning, as well as examining new solutions and challenges for logistics problems and collaboration in engineering networks within the internationalisation perspective. The impact of globalization is discussed for both managerial decision-making and operational performance of supply chains. A strong emphasis is placed on the need for continuous decision-making with recognition of the fact that networks of loosely connected agents require different approaches. Both researchers and professionals will welcome Dispersed Manufacturing Networks. It is an informative guide for those researching and working across a range of fields.
Book Synopsis Structural Dynamics and Resilience in Supply Chain Risk Management by : Dmitry Ivanov
Download or read book Structural Dynamics and Resilience in Supply Chain Risk Management written by Dmitry Ivanov and published by Springer. This book was released on 2017-11-07 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an introduction to structural dynamics, ripple effect and resilience in supply chain disruption risk management for larger audiences. In the management section, without relying heavily on mathematical derivations, the book offers state-of-the-art concepts and methods to tackle supply chain disruption risks and designing resilient supply chains in a simple, predictable format to make it easy to understand for students and professionals with both management and engineering background. In the technical section, the book constitutes structural dynamics control methods for supply chain management. Real-life problems are modelled and solved with the help of mathematical programming, discrete-event simulation, optimal control theory, and fuzzy logic. The book derives practical recommendations for management decision-making with disruption risk in the following areas: How to estimate the impact of possible disruptions on performance in the pro-active stage? How to generate efficient and effective stabilization and recovery policies? When does one failure trigger an adjacent set of failures? Which supply chain structures are particular sensitive to ripple effect? How to measure the disruption risks in the supply chain?
Book Synopsis Risk-Pooling Essentials by : Gerald Oeser
Download or read book Risk-Pooling Essentials written by Gerald Oeser and published by Springer. This book was released on 2015-01-14 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides comprehensive and concise definitions of risk pooling and risk-pooling methods, a straightforward statistical explanation, and a value-chain oriented framework for analyzing risk-pooling methods. Risk pooling mitigates demand and lead time uncertainty in logistics and supply chain management. The author also provides readers with a downloadable computerized decision support tool to compare and choose appropriate risk-pooling methods and to apply them in companies. Students and practitioners of logistics and supply chain management will find this book particularly useful.
Book Synopsis Proceedings of the 3rd International Conference of Economics and Management (CIREG 2016) Volume II by : Houcine Berbou
Download or read book Proceedings of the 3rd International Conference of Economics and Management (CIREG 2016) Volume II written by Houcine Berbou and published by Cambridge Scholars Publishing. This book was released on 2020-04-06 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together papers presented at the 3rd Conference of Research in Economics and Management (CIREG) held in Morocco in May 2016. With a focus on the challenges of SMEs and innovative solutions, they highlight the contribution of researchers in the fields of business and management, with all their micro and macro-economic aspects. They shed light on the universal scientific vision of the importance of SMEs with answers relevant to their local context and adapted to their specific national situation. The relevance of SME research lies in its heuristic value of analyzing change, rather than in constructing a category, a particularly useful empirical concept. This third volume is focused on marketing and human resources.
Book Synopsis Handbook on the Economics of Retailing and Distribution by : Emek Basker
Download or read book Handbook on the Economics of Retailing and Distribution written by Emek Basker and published by Edward Elgar Publishing. This book was released on 2016-01-29 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook explores and critically examines current research in economics and marketing science on key issues in retailing and distribution. Providing a rich perspective for the discussion of public policy, contributions from several disciplines and continents range from the history of chains and the impact of multinational retailers on international trade patterns to US merger policy in the retail context, the rise of the Internet, and consumer-to-consumer sales. The chapters address methodological issues such as the structural estimation of entry games between retailers, productivity measurement when both inputs and output are not fully observable, and demand estimation with variable assortment. Policy issues explored include mergers, zoning, and the regulation of buyer power, while other chapters address some of the recent exciting developments in technology, retail formats, and data availability. The book goes on to study the changes in online retailing and ‘big data’, and to examine competition in specific retail sectors including gasoline stations, automobile dealerships, supermarkets, and ‘big box’ retail. This state-of-the-art Handbook is an essential reference for students and academics of economics and marketing science, and offers an outsider’s perspective to specialists in operations research, data analytics, geography, and sociology.
