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| Author: | Eppen, G. Iyer, A. |
| Title: | Backup agreements in fashion buying - the value of upstream flexibility |
| Journal: | Management Science
1997 : NOV, VOL. 43:11, p. 1469-1484 |
| Index terms: | CONTRACTS FLEXIBILITY MANAGEMENT |
| Language: | eng |
| Abstract: | The authors focus on backup agreements between a catalog company and manufacturers - scheme to provide upstream sourcing flexibility for fashion merchandise. A backup agreement states that if the catalog company commits to a number of units for the season, the manufacturer holds back a constant fraction of the commitment and delivers the remaining units before the start of the fashion season. After observing early demand, the catalog company can order up to this backup quantity for the original purchase cost and receive quick delivery but will pay a penalty cost for any of the backup units it does not buy. |
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