Publisher's Synopsis
Excerpt from Mail-Order Demands for Style Goods: Theory and Data Analysis
Management of seasonal style-goods inventory has been studied by a number of authors (see A review of most of this literature is given in [6] and will not be repeated, except to summarize that much of the previous work cited presents models without testing the assumptions concerning the data - generating process for demands.1 References [8] and [16] do deal with actual data: demands for women's apparel at the retail store level. These studies reveal that retail sales tend to be proportional to the amount of inventory displayed; however, the mail - order case never runs out of display inventory, and is thus fundamentally different from the retail case. Reference [7] deals with data generalized from wholesale demands placed on a textile manufacturer, which again is quite distinct from the retail mail-order case. The plan of the paper is as follows. Sections II, III and IV will describe three alternative models for the demand data-generating process, with empirical results suggesting the third model as being most appropriate. Section V combines the chosen model with an economic decision framework for when and how much to order, and deals briefly with some issues of implementation. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
