EVALUATION OF TRADITIONAL AND QUICK-RESPONSE RETAILING PROCEDURES BY USING A STOCHASTIC SIMULATION-MODEL

A stochastic computer-simulation model is used to quantify the retail- performance characteristics of traditional and quick-response (QR) pro cedures for seasonal and fashion apparel, The model allows exploration of the underlying differences between the two systems, including patt erns of stockout, the impact of markdowns, and buyer-forecast error, a s well as the limitations on QR effectiveness imposed by season length and the number of items offered per stock-keeping unit (SKU).