Does buy-back induce more fashion sub-sourcing? Contract property and performance analysis
Does buy-back induce more fashion sub-sourcing? Contract property and performance analysis
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回购是否会引发更多时尚转包？
DOI：
10.1016/j.tre.2018.02.010
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发表时间：
2018-05
期刊：
影响因子：
--
通讯作者：
Xiaohang Yue
中科院分区：
文献类型：
--
作者：
Baozhuang Niu;Lei Chen;Xiaopo Zhuo;Xiaohang Yue
在时尚界，我们观察到像Zara和Gymboree这样的时尚品牌依赖利丰制造服装，但自己采购材料(本文指的是直接来源)。相比之下，Calvin Klein和Timberland授权利丰分包材料和制造服装(本文称为分包)。在这些观察的基础上，我们考虑了一个由一个材料供应商、一个采购代理和一个时尚品牌组成的三层供应链，并分析了他们对两种典型采购结构的偏好：直接采购和分包。在分包的情况下，时尚品牌通过回购合同将未售出的产品退回，从而将积压库存的风险转嫁给采购代理，这种合同在时尚业中被广泛采用。我们识别了分包条件下回购合约的需求放大效应和批发权力效应。这两种效应改变了时尚品牌在直接外包和分包之间的利润平衡，并可能导致时尚品牌更倾向于分包。我们进一步考察了需求不确定性对时尚品牌利润的影响，并观察到在需求不确定性较低的情况下，分包占主导地位。当需求不确定性很高时，如果回购价格适中，回购的分包可能会比直接采购的效果更好。
In fashion industry, we observe that fashion brands like Zara and Gymboree rely on Li & Fung for their clothes manufacturing, but procure materials by themselves (referred to asdirect-sourcingin this paper). In contrast, Calvin Klein and Timberland authorize Li & Fung to sub-source materials and manufacture clothes (referred to assub-sourcingin this paper). Motivated by these observations, we consider a three-layer supply chain comprising of a material supplier, a procurement agent and a fashion brand, and analyze their preferences over two typical procurement structures: direct-sourcing and sub-sourcing. Under sub-sourcing, buy-back contracts, through which fashion brands return unsold products and thus shift overstock risk to procurement agents, are widely adopted in fashion industry. We identify demand enlargement effect and wholesale power effect of the buy-back contract under sub-sourcing. These two effects change the fashion brands’ profit balance between direct-sourcing and sub-sourcing, and may induce the fashion brand to prefer sub-sourcing. We further examine the impact of demand uncertainty on the fashion brand’s profits, and observe that sub-sourcing is dominant under low demand uncertainty. When demand uncertainty is high, sub-sourcing with buy-back may outperform direct-sourcing given a moderate buy-back price.
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10.1287/mnsc.1040.0211
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2005
期刊：
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