• Title/Summary/Keyword: Purchasing decisions

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A multi-supplier ordering policy under the condition of discount price (가격할인하의 복수공급자 주문정책)

  • 이내형;조남호
    • Journal of the Korea Safety Management & Science
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    • v.2 no.4
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    • pp.209-217
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    • 2000
  • In this paper, we consider an Inventory system with multi-suppliers. A supply agreement is made with one of the suppliers, to deliver a fixed quantity Q evry review period ; That is, adapting to discounts of under the condition of free addition often implies that the timing and sizes of future replenishment orders are less predetermined. The replenishment decisions for the other supplier are governed by a replenishment policy. This paper, multiple suppliers strategy is a combination of a push system (the main supplier delivers every review period a predetermined quantity Q) and a pull system the replenishment orders placed at other suppliers are governed by replenishment policy. The costs are defined as the sum of the ordering, holding, purchasing and opportunity costs. Based on numerical results, conclusions follow about the division of the replenishment volume among the inventory policy.

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Optimal Inventory and Price Markdown Policy for a Two-Layer Market with Demand being Price and Time Dependent

  • Jeon, Seong-Hye;Sung, Chang-Sup
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2006.11a
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    • pp.142-146
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    • 2006
  • This paper considers a SCM issue concerned with an integrated problem of inventory control and dynamic pricing strategies when demands are price and time dependent. The associated price markdowns are conducted for inventory control in a two-layer market consisting of retailer and outlet as in fashion apparel market. The objective function consists of revenue terms (sales revenue and salvage value) and purchasing cost term. Specifically, decisions on price markdowns and order quantity are made to maximize total profit in the supply chain so as to have zero inventory level at the end of the sales horizon. To solve the proposed problem, a gradient method is applied, which shows an optimal decision on both the initial inventory level and the discount pricing policy. Sensitivity analysis is conducted on the demand parameters and the final comments on the practical use of the proposed model are presented.

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Design and Implementation of Dynamic Recommendation Service in Big Data Environment

  • Kim, Ryong;Park, Kyung-Hye
    • Journal of Information Technology Applications and Management
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    • v.26 no.5
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    • pp.57-65
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    • 2019
  • Recommendation Systems are information technologies that E-commerce merchants have adopted so that online shoppers can receive suggestions on items that might be interesting or complementing to their purchased items. These systems stipulate valuable assistance to the user's purchasing decisions, and provide quality of push service. Traditionally, Recommendation Systems have been designed using a centralized system, but information service is growing vast with a rapid and strong scalability. The next generation of information technology such as Cloud Computing and Big Data Environment has handled massive data and is able to support enormous processing power. Nevertheless, analytic technologies are lacking the different capabilities when processing big data. Accordingly, we are trying to design a conceptual service model with a proposed new algorithm and user adaptation on dynamic recommendation service for big data environment.

An Analysis of Information Security Management Strategies in the Presence of Interdependent Security Risk

  • Shim, Woo-Hyun
    • Asia pacific journal of information systems
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    • v.22 no.1
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    • pp.79-101
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    • 2012
  • This study expands the current body of research by exploring multiple scenarios of insufficient and excessive IT security investments caused by interdependent risks and the interplay between IT security investments and cyber insurance. A key finding is that organizations experiencing interdependent risks with different types of cyber attacks (i.e., targeted and untargeted attacks) use different strategies in making IT security investment decisions and in purchasing cyber insurance policies for their information security risk management than firms that are facing independent risks. The study further provides an economic rationale for employing insurance mechanisms as a risk management solution for information security.

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A Study on Scheduling by Customer Needs Group (고객 요구 집단에 의한 일정계획 수립에 관한 연구)

  • 양광모;박재현;강경식
    • Proceedings of the Safety Management and Science Conference
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    • 2002.11a
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    • pp.233-238
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    • 2002
  • The product process is sequence of all the required activities that a company must perform to develop, and manufacture a product. These activities include marketing, research, engineering design, quality assurance, manufacturing, and a whole chain of suppliers and vendors. The process also comprises all strategic planning, capital investments, management decisions, and tasks necessary to create a new product. manufacturing processes must be created so that the product can be produced in the product facility Purchasing new equipment and training workers may be required if new technology is to be used. Tools, fixtures, and the sequence of steps in the manufacturing processes must all be developed to allow rapid, high-quality, cost effective production. Also, it may be needed to be rearrange the production facility to adapt to the new manufacturing processes. Therefore, this study tries to proposed that Scheduling by customer needs group for minimizing the problem and reducing inventory, product development time, cycle time, and order lead time.

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Factors Influencing Foreign Products Purchase Intention of Mongolian Consumers

  • Gantulga, Urandelger;Ganbold, Munkhbayasgalan
    • Asia Marketing Journal
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    • v.24 no.3
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    • pp.131-140
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    • 2022
  • The current study examines how ethnocentrism influences the relationship between country image, product image, quality, and purchase intention for foreign goods. It is necessary to explore and analyze the connection between consumer ethnocentrism and purchase intention to develop marketing strategies that influence consumers' purchasing decisions. Accordingly, this article develops the research model to determine the impact of specific product determinants on consumer purchase intention towards foreign products. An online survey was carried out to reach the research objective. Four hundred effective questionnaires were analyzed using SPSS 23 and Smart PLS 3.3. The results showed that foreign product quality and image have a significant positive impact on consumers' intentions to buy foreign goods. Furthermore, consumer ethnocentrism significantly moderates product quality and purchase intention relationships. The study's findings could help marketers develop effective marketing techniques while also being helpful to academics and consumers in general.

Empirical Comparison of the Effects of Online and Offline Recommendation Duration on Purchasing Decisions: Case of Korea Food E-commerce Company

  • Qinglong Li;Jaeho Jeong;Dongeon Kim;Xinzhe Li;Ilyoung Choi;Jaekyeong Kim
    • Asia pacific journal of information systems
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    • v.34 no.1
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    • pp.226-247
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    • 2024
  • Most studies on recommender systems to evaluate recommendation performances focus on offline evaluation methods utilizing past customer transaction records. However, evaluating recommendation performance through real-world stimulation becomes challenging. Moreover, such methods cannot evaluate the duration of the recommendation effect. This study measures the personalized recommendation (stimulus) effect when the product recommendation to customers leads to actual purchases and evaluates the duration of the stimulus personalized recommendation effect leading to purchases. The results revealed a 4.58% improvement in recommendation performance in the online environment compared with that in the offline environment. Furthermore, there is little difference in recommendation performance in offline experiments by period, whereas the recommendation performance declines with time in online experiments.

Effects of Health-Related Food Labeling on Quality Assessment Before Purchase, Attitudes towards Using and Purchasing Products, and Purchase Intentions Based on the Theory of Planned Behavior (건강관련 식품표시가 구매 전 품질평가와 제품 사용 및 구매태도, 구매의도에 미치는 영향: 계획적 행동이론을 바탕으로)

  • Jun, Sangmin
    • Journal of Consumption Culture
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    • v.15 no.3
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    • pp.67-90
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    • 2012
  • When consumers choose healthy foods, they base their buying decisions on health-related food labeling and quality assessment of taste, health, and price. Moreover, both purchase experience and opinions of family and friends affect consumer choices. Focusing on these points, this study examined the effects of health-related food labeling on consumer choices by adding two variables-quality assessment of taste, health, and price and purchase experience-to the model of the theory of planned behavior. We also used structural equation modeling to test our hypotheses. In the study, health-related food labeling includes organic labeling, nutrient claims, and food additive labeling. We conducted a mail survey among 300 married women who buy cheese slices for their children more than once a month. It was discovered that health-related food labeling positively affected the level of quality assessment of taste, health, and price, and consequently led to positive attitudes and purchase intentions. Particularly, health-related food labeling positively influenced attitude toward using products without assessing the quality of taste, health, and price. The level of quality assessment of price positively affected attitude toward using and purchasing products, and purchase experience positively affected attitude toward using and purchasing products, and purchase intentions. The relationship between attitude to purchasing products and purchase intentions was the most positive, and the relationship between perceived behavioral control and purchase intentions was not significant. Overall, this study essentially contributes to the development of a theoretical framework of food labeling and consumer choices, which includes quality assessment of taste, health, and price and purchase experience, by using the theory of planned behavior.

How to Recommend Online Shopping Consumers the Best of Many Sellers? : Online Seller Recommendation System Using DEA Method (DEA 방법론을 이용한 온라인 판매자 추천 시스템의 구축)

  • An, Jung-Nam;Rho, Sang-Kyu;Yoo, Byung-Joon
    • The Journal of Society for e-Business Studies
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    • v.16 no.3
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    • pp.191-209
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    • 2011
  • In a buyer-seller transaction process, 'value for money,' a measure of quality-price-ratio, is one of the most important criteria for buyers' purchasing decisions. The purpose of this paper is to suggest a method which helps online shoppers choose the best of several sellers offering homogeneous goods. We suggest FDH (free disposal hull) model, an applied model of data envelopment analysis (DEA), for online buyer-seller transactions and verify it with the data from an Internet comparison shopping site. For this purpose, we analyze consumer choice behaviors by examining how consumers respond to different sale conditions such as price, brand, or delivery time. Then, we implement a seller recommendation system to support buyers' purchasing decisions. We expect our FDH model to provide valuable information for rational buyers who want to pay the least price for high quality products/services and to be used in implementing automated evaluation processes in micro transactions. Moreover, we expect that our results can be utilized for sellers' benchmarking strategies which help sellers be more competitive by showing them how to attract buyers.

Upcycling Awareness Research Fashion Clothing Goods for Korean University Students (국내 대학생의 패션의류제품 업사이클링 인식도 조사)

  • Choi, Se-Lin;Choi, Eun-Hee;Do, Wol-Hee
    • Fashion & Textile Research Journal
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    • v.16 no.1
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    • pp.111-117
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    • 2014
  • This study investigated the perception of upcycling for sensitive university students in regards to fashion trends. It was conducted through questionnaires delivered to male and female college students who majored in clothing related subjects from June 2012 to June 2013 in Gwangju. The contents for this research are general details, seriousness of environmental resources, awareness of upcycle, and purchasing intention for upcycling products. Most of the respondents said that recycling of resources is absolutely necessary due to the impact of environmental pollution and the consumption of resources. On the contrary, the experience of the respondents which purchased recycling products was low. The awareness of also was low, upcycling, internal upcycling brands and internal consumption groups, however, the decisions for subsequent purchases were positive. The reasons for the unsatisfactory of upcycling of products were due to quality and price. The reaction for many upcycle goods had the best question response rate in daily supplies part; subsequently, this study suggested 3 items, apparel products, fashion accessories, and daily supplies. In addition, a group which contains people who expend more for clothing had a lower awareness of upcycle and purchasing intention than other groups that contained some people who expend less. The results of the study can be used in data that recognize the necessary of upcycle education for university students, and develop educational programs. It can also encourage the purchase of upcycle products that reduce the consumption of resources.