Quick response and supply chain structure with strategic consumers |
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| Affiliation: | 1. Department of Statistics and Operations Research, University of Murcia, Campus de Espinardo, 30100-Espinardo, Murcia, Spain;2. Department of Business Administration, Law and Social Sciences, San Antonio Catholic University, Campus de los Jerónimos, 30107-Guadalupe, Murcia, Spain;1. College of Science, East China Institute of Technology, Nanchang, Jiangxi 330013, PR China;2. School of Information Technology, Jiangxi University of Finance and Economics, Nanchang, Jiangxi 330013, PR China;3. Department of Information Management, National Formosa University, Yun-Lin 632, Taiwan;1. Foisie School of Business, Worcester Polytechnic Institute, Worcester, MA 01609, USA;2. D׳Amore McKim School of Business, Northeastern University, Boston, MA 02115, USA |
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| Abstract: | This work explores the impact of quick response on supply chain performance for various supply chain structures with strategic customer behavior. By investigating pricing and inventory decisions in decentralized supply chains under revenue-sharing contracts and in centralized supply chains, we study the performance of four various systems and compare the value of quick response in different supply chain structures. The results show that if the extra cost of quick response is relatively low, the value of quick response would be greater in centralized systems than in decentralized systems. On the other hand, if the extra cost is high, decentralized supply chains reap more incremental profits from adopting quick response. We also find that revenue-sharing contracts enable a decentralized supply chain to outperform a centralized supply chain, but only allow limited flexibility of allocating total profits between a manufacturer and a retailer. |
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| Keywords: | Supply chain structure Strategic customer behavior Value of quick response Revenue-sharing contracts Newsvendor model |
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