<b>Case Article</b>—Markdown Management at Sports Unlimited

Talebian, Masoud; Ryzin, Garrett van

doi:10.1287/ited.2013.0121ca

Cited by 4 publications

(3 citation statements)

References 14 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Keller and Bayraksan (2012) applied the case method in risk management teaching for the banking industry. Talebian and van Ryzin (2014) presented a case method addressing the retail industry markdown management. In addition to business school teaching, the case method has been adapted to engineering classes (Raju and Sanker 1999) and materials science courses (Davis and Wilcock 2003).…”

Section: Literature Reviewmentioning

confidence: 99%

An Educational Game with Dragons’ Den Experiences for Supply Chain Management Training

Feng

Audy

Rönnqvist

et al. 2020

INFORMS Transactions on Education

View full text Add to dashboard Cite

This article presents an educational game to engage university and industrial stakeholders in collaborative training for supply chain management courses. The game will help students learn complex supply chain management issues. There are two integrated parts: a case ethod through an industrial case and an activity-based game featuring role plays based on international television shows such as Dragons' Den in Canada or Shark Tank in the United States. We developed a game framework to illustrate how the game can be prepared and played in classrooms. Although the game is primarily developed for classroom teaching, it may be adapted to other training environments. We have provided two examples to demonstrate how the game can be played as a short game in conference environments. Game experiences and feedback are presented with comments from various game participants. By interacting with stakeholders and tackling a real-world business case, students can better understand stakeholders' business goals, the importance of supply chain collaboration, and the impacts on supply chain decisions.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

An Educational Game with Dragons’ Den Experiences for Supply Chain Management Training

Feng

Audy

Rönnqvist

et al. 2020

INFORMS Transactions on Education

View full text Add to dashboard Cite

show abstract

“… 16 An initial markdown of 50% is consistent with practice. For example, in Sports Unlimited this was the preferred markdown so as “to really attract customer attention and move merchandise” (Talebian and van Ryzin 2014). …”

Section: Notesmentioning

confidence: 99%

“…Our modeling framework enriches the newsvendor setting to introduce a second period where the leftover inventories are priced to a predetermined markdown. Predetermined price trajectories are common in practice (see, e.g., Talebian and van Ryzin 2014) and may apply when the retailer has limited pricing flexibility, such as in the case of the manufacturer's suggested retail price (MSRP). They are also commonly assumed in the revenue management literature (e.g., Altug and Aydinliyim 2016, Gallego et al 2008, Mersereau and Zhang 2012, Zhang and Cooper 2008.…”

Section: Introductionmentioning

confidence: 99%

Inventory Decisions in the Presence of Strategic Customers: Theory and Behavioral Evidence

Zhang

Mantin

2019

Production and Operations Management

View full text Add to dashboard Cite

W e consider the inventory decision of a retailer facing strategic customers. We develop a behavioral theory that accounts for reference dependence, which makes predictions on how the presence of strategic customers leverages retailer behavior. Specifically, the reference-dependent retailer shall decrease her order quantity when there are more strategic customers in the population. As such, the conventional pull-to-center bias for newsvendor is generalized, since the presence of strategic customers may induce the retailer to pull her order further below the center even when the production cost is low. Furthermore, increasing proportion of strategic customers reduces the retailer's ordering bias under low cost, yet amplifies it when the cost is high. Our subsequent experiments find pull-below-center effect, validate the theoretical predictions, and establish the asymmetry of reference dependence with the estimated behavioral parameters. We also study extensions to our model and carry out robustness checks of our experimental results.

show abstract

Synchronizing pricing and replenishment to serve forward‐looking customers

Chen

Chu

2020

Naval Research Logistics

View full text Add to dashboard Cite

We incorporate strategic customer waiting behavior in the classical economic order quantity (EOQ) setting. The seller determines not only the timing and quantities of the inventory replenishment, but also the selling prices over time. While similar ideas of market segmentation and intertemporal price discrimination can be carried over from the travel industries to other industries, inventory replenishment considerations common to retail outlets and supermarkets introduce additional features to the optimal pricing scheme. Specifically, our study provides concrete managerial recommendations that are against the conventional wisdom on “everyday low price” (EDLP) versus “high‐low pricing” (Hi‐Lo). We show that in the presence of inventory costs and strategic customers, Hi‐Lo instead of EDLP is optimal when customers have homogeneous valuations. This result suggests that because of strategic customer behavior, the seller obtains a new source of flexibility—the ability to induce customers to wait—which always leads to a strictly positive increase of the seller's profit. Moreover, the optimal inventory policy may feature a dry period with zero inventory, but this period does not necessarily result in a loss of sales as customers strategically wait for the upcoming promotion. Furthermore, we derive the solution approach for the optimal policy under heterogeneous customer valuation setting. Under the optimal policy, the replenishments and price promotions are synchronized, and the seller adopts high selling prices when the inventory level is low and plans a discontinuous price discount at the replenishment point when inventory is the highest.

show abstract

Case Article—Markdown Management at Sports Unlimited

Cited by 4 publications

References 14 publications

An Educational Game with Dragons’ Den Experiences for Supply Chain Management Training

An Educational Game with Dragons’ Den Experiences for Supply Chain Management Training

Inventory Decisions in the Presence of Strategic Customers: Theory and Behavioral Evidence

Synchronizing pricing and replenishment to serve forward‐looking customers

Contact Info

Product

Resources

About