• Journal of the Korea Institute of Building Construction
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• v.18 no.4
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• pp.355-361
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• 2018

Many defects are occurring in apartments, the main residential area in Korea. This is due to a lack of construction skills and a lack of management. As many apartments are provided to buyers, the dispute over defects after completion is increasing rapidly. The Housing Act was amended so that local governments could order contractors to repair defects. However, even if defects are resolved after a defect is generated, it is not a fundamental solution that can be satisfied because buyers have to endure the pain caused by the defect. So, it is necessary to protect the interests of buyers by fundamentally reducing defects in apartments. Therefore, in this study, it was suggested that the asymmetry of the information about the apartment buyers should be resolved at the time of sale of the apartment, the final drawings should be a contract document, the review period of the apartment house supervision should be secured, the appropriate supervisory fee should be secured at the time of contract change and the payment procedure should be improved.

• Journal of KIISE
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• v.42 no.10
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• pp.1286-1293
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• 2015

Most e-marketplaces build a reputation system that provides potential buyers with reputation scores of sellers in order for buyers to identify the sellers that are more reliable and trustworthy. The reputation scores are computed based on the aggregation of buyers' ratings. However, when these ratings are used to compute the reputation scores, the existing reputation systems do not make a distinction according to the following two criteria: the capability of the seller and the quality of an item. We claim that a reputation system needs to separate the two criteria in order to provide more precise information about the seller. In this paper, we propose a method to compute seller's reputation by separating the rating into the seller's score and the item's score. The proposed method computes the reputation of the seller's capability by using only the 'seller's score' and helps potential buyers to find reliable sellers who provide fast delivery and better service. In experiments, we propose a simulation strategy that reflects the real life of an E-marketplace and verify the effectiveness of our method by using the generated simulation data.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.7
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• pp.2921-2929
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• 2012

This study aims to empirically analyze the structural effects of partnership characteristics between buyers and suppliers on the performance in supply chains. To this end, an in-depth literature review was performed in advance and four partnership characteristics involving information sharing, participativeness, interdependence, solidarity were identified, and a research model was validated by incorporating collaboration, trust, satisfaction. To analyze data collected from 124 companies, structural equation modeling was employed to test hypotheses proposed in this study and the findings are shown as follow. First, the partnership between buyers and suppliers was confirmed to have a positive effect on collaboration, trust and satisfaction. Second, both of trust and satisfaction were found to positively influence collaboration. Third, our findings also validated that collaboration and trust between buyers and suppliers had significant influences on supply chain performance, however, we found no evidence of a statistically significant relationship between satisfaction and performance. Based on these findings, discussions on the implications of this study and suggestions for further research were given finally.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2006.11a
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• pp.437-452
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• 2006

Previous research on two-sided markets has, for the most part, concentrated on indirect network externalities between buyers and sellers. This paper considers direct competition effect among sellers and among buyers as well as indirect network externalities. We develop an analytic model of C2C e-marketplaces and examine whether a monopolistic incumbent could successfully deter new entry into its market. We find that the effect of the number of sellers or buyers on the price of goods depends on whether sellers have decided to sell the goods using an auction or fixed pricing rule and on the characteristics of the goods. We argue that when the effect of the number of sellers on the price of goods is significantly larger than that of buyers, there is a high possibility of entry. In particular, we show that entry becomes more difficult to deter as fixed-price format is adopted more frequently or the proportion of collectables is relatively low.

• Korean Business Review
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• v.16
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• pp.1-21
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• 2003

Trust affects marketing practices and purchasing performance in the context of buying and selling business services. Despite the importance the previous studies on business services have not fully investigated the role of trust and the effects of trust on buying and selling strategies. Additionally in-depth studies exploring the links between trust-strategies-performance have not systematically performed both in domestic and international markets. This study, in the context of purchasing business services, investigates the effect on trust of suppliers' characteristics and relational characteristics between sellers and buyers. This study also explores the effect of trust toward sellers and buyers on purchasing performance. The results of this study should contribute the understanding on the role of trust in purchasing and selling business services. Building and maintaining trust must be one of the major key success factors in the relationship between sellers and buyers of business servies.

• Journal of Fashion Business
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• v.19 no.4
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• pp.183-199
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• 2015

This study aimed to systematize the apparel vendor work processes and provide useful information to future employees of clothing export units by analyzing the processes of vendors' manufacturing tasks. A survey of 20 apparel vendors servicing mainly U.S. buyers was conducted on employees of overseas business departments working for more than five years. buyers. Based on the results, vendors mainly manufactured cut-and-sew knit products. Regarding the production method, OEM was used more frequently than ODM. Fourteen (70%) companies used the ODM method. This suggests that vendors are expanding their production method from OEM to ODM. In order to summarize the work of each business based on the clothing production process research results, buyers were in charge of planning products and the vendors were in charge of sampling. Production of materials and the approval of material tests were out sourced. Overseas factories of vendors were in charge of bulk (mass) production and garment finishing, as well as packaging and shipping the completed products. Even though the vendors' head offices do not directly produce clothes, they play a pivotal role in ensuring planning and management progress in clothing production. As buyers prefer direct contracts for cost reduction, the vendor additionally performs the role of an agent. Also, with the increase in ODM production ratio, the work area of the vendor is expanding. If Korean clothing exporters improve their global competitiveness by investing in the R&D of materials and design to enhance the ODM method, the development of Korea's clothing and export industry will benefit significantly.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.3
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• pp.191-203
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• 2020

This study aims to present the differentiating factors of B2B salesperson competency through comparing the suppliers and buyers in Korean steel industry in their perception on the importance and priority of B2B salesperson competency. Based on previous studies, analysis on B2B salesperson competency has been analyzed using the B2B salesperson performance competency measure factors and appropriately reorganizing them for better application to the steel industry. The required performance competencies of B2B salesperson can be categorized into 3 different types, namely social exchange competency, advisory sales competency, and skill & knowledge competency. AHP analysis was performed for analyzing the relative importance of B2B salesperson competency based on the factors of previous studies, in which categorization of the aforementioned types had been done. As the result, first, it has been confirmed that there is a difference in 1st layer main factors between the supplier group and buyer group. The supplier group valued the advisory sales competency, while the buyer group valued skill & knowledge competency. Second, it has been proved that there is same result of relative importance in 2nd detailed factors between the supplier group and buyer group. Both group confirmed that customer member, identify customer needs and communication skill are very important factors. Third, as the result of analysis on the gap between B2B salesperson competency of the suppliers and buyers, the gap in the product knowledge and sales team member need improvement for buyer's satisfaction according to overall results of relative importance and priority. The steel supplier was able to develop B2B salesperson competency according to the buyers' needs based on the result of this study, and furthermore it is expected that this study will be able to contribute to increase in buyer competitiveness through differentiation in B2B salesperson competency.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.38 no.3
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• pp.117-126
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• 2015

This paper is to analyze an integrated production and inventory model in a single-vendor multi-buyer supply chain. The vendor is defined as the manufacturer and the buyers as the retailers. The product that the manufacturer produces is supplied to the retailers with constant periodic time interval. The production rate of the manufacturer is constant for the time. The demand of the retailers is constant for the time. The cycle time of the vendor is defined as the elapsed time from the start of the production to the start of the next production, while the cycle times of the buyer as the elapsed time between the adjacent supply times from the vendor to the buyer. The cycle times of the vendor and the buyers that minimizes the total cost in a supply chain are analyzed. The cost factors are the production setup cost and the inventory holding cost of the manufacturer, the ordering cost and the inventory holding cost of the retailers. The cycle time of the vendor is investigated through the cycle time that satisfies economic production quantity with the production setup cost and the inventory holding cost of the manufacturer. An integrated production and inventory model is formulated, and an algorithm is developed. An numerical example is presented to explain the algorithm. The solution of the algorithm for the numerical examples is compared with that of genetic algorithm. Numerical example shows that the vendor and the buyers can save cost by integrated decision making.

• Journal of the Korea Fashion and Costume Design Association
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• v.21 no.1
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• pp.17-33
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• 2019

The purpose of this study is to understand the present status of the international textile fashion conventions and the Korean textile fashion conventions in order to secure competitiveness in the textile fashion industry and to discover the satisfaction of the convention and to develop an improvement plan of the current textile and fashion conventions in Korea. For the method of study, five representative conventions of domestic and foreign textiles and fashion were selected and case analyses were conducted focusing on relevant reports. Also, the satisfaction and improvement of the conventions for companies, buyers and visitors attending the Preview in Seoul(PIS) convention were surveyed. The first result of the study was that international textile and fashion conventions have clarified their identity according to changes in the market environment and buyer's interest. For example, the professional exhibition changed the nature of the comprehensive convention or made it easier for many related businesses and buyers to attend the convention by sharing the same convention period and location with other conventions. In addition, the convention hall has been constructed to display promising items, such as eco-friendly materials and smart materials. Second, participating companies, buyers and visitors of the Preview in Seoul (PIS) convention were generally satisfied with the convention, but were aware of the need for change. In particular, the satisfaction level with the number and level of new buyers at home and abroad, the number of counseling sessions and the quality level were also found to be low.

• The Journal of Economics, Marketing and Management
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• v.11 no.2
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• pp.23-32
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• 2023

Purpose: This study examines the effect of full information disclosure on seller profit when there exists information asymmetry between sellers and buyers, focusing on the risk averseness of buyers. By investigating the interaction between product quality and perceived risk through online sales data, we attempt to figure out the incentive structure of full information disclosure specifically when buyers are risk-averse, so that we can suggest more feasible information disclosure strategy to sellers. Research design, data and methodology: Our empirical model analyzes the sales data of collectible goods from a major online seller using Poisson regression. In our model, we have specifically considered risk-averseness of buyers by estimating the interaction effect between the product quality and perceived risk on seller profit, aiming for a more precise empirical analysis on sellers' incentive structure of full disclosure. Results: Our empirical analysis strongly supports the effect of interaction between product quality and perceived risk, showing that the incentive for full disclosure is much stronger when product quality is higher, and vice versa. Therefore, sellers are strongly encouraged to voluntarily reveal product weaknesses when their product quality is higher than average, while it is more profitable to hide any product defects when quality claim is lower than average. Conclusions: This study supports the related literature by confirming economic incentives for full disclosure, and also supplements and strengthens previous studies by presenting that the effect of interaction between product quality and perceived risk strongly affects seller profit. Our unique finding supports both mandatory disclosure and voluntary disclosure arguments and presents practical implications to marketing managers by suggesting that seller's incentive for revealing weaknesses depends on the level of seller's product quality.