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Erschienen in:
2023 | OriginalPaper | Buchkapitel
The Application of Newsvendor Model with Empirical Data—A Case Study of the Specialized Wholesale Market in Wuhan, China
verfasst von : Qiaoyang Liu
Erschienen in: Proceedings of the 6th International Conference on Economic Management and Green Development
Verlag: Springer Nature Singapore
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Abstract
The specialized wholesale market is the place where high volume transactions happen. Due to the high concentration of industries, this kind of market often faces inventory problems. This paper takes the fashion wholesale market on Hanzheng street as the research object. First, we conducted the qualitative analysis of the local business environment, including the field investigation of locational conditions and the supply chain process. Then, we conducted the quantitative analysis of the daily sales data of the Autumn–winter series in 2020, 151 days in total. Finally, the newsvendor model was applied with the daily sales data to give the optimized daily output quantity, and suggestions were provided at the end of the paper for better purchasing or production plans.