• The Research Journal of the Costume Culture
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• v.24 no.1
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• pp.114-117
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• 2016

It is recognized that the global apparel market of the twenty-first century is largely profit driven, and that the majority of producers and retailers have sourced products from the lowest cost locations. Purchase tickets of fashion goods available from 'fast' fashion retailers (at least within the UK) refrain from providing the consumer with details of the full circumstances of production. It seems that the majority of major retailers and producers are not willing to engage in levels of self-regulation which could ensure that the products offered to consumers are ethically produced and offer acceptable levels of sustainability. Meanwhile many fashion consumers have the desire to purchase sustainable products, produced ethically by workers paid fair wages in safe working environments. Consumer demand could be a powerful tool to adjust the behaviour of manufacturers and buyers. This paper proposes the introduction of international legislation demanding greater degrees of transparency than exist currently and that the full sourcing and production details of fashion products are stated clearly on the product's purchase ticket within its retail setting. With the introduction of such legislation, consumers could thus be given the opportunity of purchasing goods which they feel accommodate their own views on ethical manufacture and sustainable products. In turn, consumer pressure could ensure indirectly that retail buyers consider all ethical and sustainable aspects of production when negotiating with garment producers/suppliers. Further to this, such a negotiating stance could ensure the improvement of the terms and conditions of employment of the numerous garment workers worldwide.

• Environmental and Resource Economics Review
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• v.25 no.4
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• pp.495-516
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• 2016

This study empirically examines how asymmetric price adjustment of the retail gas price happens differently for various oil products, such as high-grade gasoline, regular gasoline, and diesel, by employing asymmetric error correction model within weekly data set from 2010~2015. Our estimation results show that the price adjustment, across the all oil types, predicated on shifting crude oil and wholesale oil prices is asymmetric. In addition, the duration of asymmetry was shorter in high-grade gasoline case than in other oil types. This took place by rapid price adjustment of high-grade gasoline price when faced with both cost increases and decreases, in comparison with regular gasoline and diesel cases. There results were attributed by characteristics of the consumer group and a high retail-wholesale margin of high-grade gasoline.

• Environmental and Resource Economics Review
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• v.14 no.3
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• pp.729-751
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• 2005

RPS(Renewable Portfolio Standards) is an institutional device to promote use of renewable energy through market mechanism by making renewable energy to constitute a pre-announced portion of the electricity production. We measure economic impacts of the introduction of RPS to domestic electricity market at the levels of electricity market, individual industrial sectors and the economy as a whole. First, we examine the TREC(Tradable Renewable Energy Credits) market, where the credits in excess of the obligation of the renewable energy production are sold to those who have to meet the obligation through purchased credits. We then measure end-users' additional cost originating from the introduction of RPS and TREC in electricity production, and their impacts on price and supply in the retail electricity market. Next, using input-output analysis, we measure economic impacts of the changes in retail price and supply on individual industrial sectors and the economy as a whole. Among many others, we find small price effect and large GDP effect - sectoral electricity price rises at around 5%, sectoral price level rises by 0.258%, and sectoral GDP declines by 1.940% on average by the year 2011.

• Korean Management Science Review
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• v.32 no.1
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• pp.65-82
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• 2015

Purchase dependence is a frequent phenomenon in retail shops and is characterized by the purchase of certain items together due to their unknown interior associations. Although this concept has been significantly examined in the marketing field (e.g. market basket analysis), it has largely remained unaddressed in operations management. Since purchase dependence is an important factor in designing inventory replenishment policies, this paper demonstrates the means of applying it to the partial backordering inventory model. Through computational analyses, this paper compares the performance of inventory models that either consider or ignore purchase dependence; the results demonstrate that inventory models that ignore purchase dependence incur more average cost per unit time than the model that considers purchase dependence, and the impact of purchase dependence can increase in significance as the item set becomes more closely correlated with regard to order demand.

• Management Science and Financial Engineering
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• v.13 no.2
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• pp.29-46
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• 2007

This paper makes an attempt to compare the two important methods for finding solutions of multi-item inventory problem with more than one conflicting objectives. Panda et al.[9] discusses a distance-based method to find the best possible compromise solution with variation of priority under the given weight structure. In this paper, the problem in [9] is revisited through the Pareto-optimal front of genetic algorithm with the help of a situation of retail stocking of FMCG business. The advantages of using the solutions from the perspective of the decision maker obtained through multi-objective optimization are highlighted in terms of population search, weighted goals and priority structure, cost, set of compromise solutions along with prevention of stock-out situation.

• Carbon letters
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• v.15 no.3
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• pp.162-170
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• 2014

Pitch is an attractive raw material for carbon fiber precursors due to its low cost stemming from its availability as a residue of coking and petroleum processes. Ford Motor Company reported a carbon fiber target price of $11.0/kg by using a fast cycle-time manufacturing method with carbon fiber in an inexpensive format, allowing for an average retail price of gasoline of $3.58/gallon. They also recommended the use of carbon fiber with strength of 1700 MPa, modulus of 170 GPa, and 1.5% elongation. This study introduced a ca. $5.5{\mu}m$ carbon fiber with 2000 MPa tensile strength obtained from a precursor through simple distillation of petroleum residue. Petroleum pitch based carbon nanofibers prepared via electrospinning were characterized and potential applications were introduced on the basis of their large specific surface area and relatively high electrical conductivity.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.12
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• pp.2354-2358
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• 2009

Demand response (DR) can be used to improve the efficiency of electricity markets and increase the reliability of power systems. As more utilities attempt to reduce the purchasing costs by implementing DR programs strategically, there is an increasing need for studies of how to allocate the reduced purchasing costs among DR program participants. The rebates or incentives can be given to DR program participants in proportion to the participants' contributions to the reduced purchasing costs. This paper presents Shapley Value-based method to determine the DR program participants' contributions to the reduced purchasing costs. A numerical example is presented to validate the effectiveness of the proposed method.

• Industrial Engineering and Management Systems
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• v.14 no.3
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• pp.275-288
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• 2015

Purchase dependence is a frequent phenomenon in retail shops and is characterized by the purchase of certain items together due to their unknown interior associations. Although this concept has been significantly examined in the marketing field (e.g. market basket analysis), it has largely remained unaddressed in operations management. Since purchase dependence is an important factor in designing inventory replenishment policies, this paper demonstrates the means of applying it to the partial backordering inventory model. Through computational analyses, this paper compares the performance of inventory models that either consider or ignore purchase dependence; the results demonstrate that inventory models that ignore purchase dependence incur more average cost per unit time than the model that considers purchase dependence, and the impact of purchase dependence can increase in significance as the item set becomes more closely correlated with regard to order demand.

• Journal of the Korean Society of Costume
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• v.50 no.8
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• pp.165-175
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• 2000

The Purposes of this study are to analyze fashion trading area's conditions of Busan area to establish fashion marketing strategies for the conditions of location in choosing the new retailers and to propose the most efficient, optimum fashion trading area(FTA) under the management mind of low cost and high efficiency according to the changes of 21C management paradigm. The subjects of investigation for this study were 1083 women visited FTA in Busan. The data were analyzed by using MANOVA, ANOVA, frequency and trend analysis, and the Cronabach $\alpha$ and Turkey HSD were also applied. The results of this study were summarized as follows. 1 The characteristics of consumer spatial behavior according to fashion trading area show significant difference in starling position, movement means, movement time, visit purpose and visit frequency. 2 The buying behavior of fashion items according to fashion trading area shows difference in fashion trading area shows difference in fashion trading area, store and buying behavior.

• Journal of Distribution Research
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• v.5 no.2
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• pp.91-105
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• 2001

Wholesale club is one of the fastest expanding retailer formats. Given its key features such as limited assortment and no promotion policy, the current paper provides a theory on why the wholesale clubs charge their members fixed annual fees. In a competitive setting with supermarkets, the proposed model demonstrates that the membership fee is the optimal reaction of wholesale clubs to supermarkets" sales promotion. More specifically, the positive amount of annual fee is only justified under the condition that there exists consumer heterogeneity in consumption rate and when the supermarket exercises price promotion on the product that the wholesale club carries. This paper describes the competition in a stylized fashion and derives the optimal membership fee under a scenario where retail promotion is present. This study is valuable in that it offers a different explanation on wholesale club membership fee than conventional wisdoms such as cost sharing and that it provides insights to the managers who consider no-fee format.