Forecasting in the fashion industry: a model for minimising supply-chain costs

1Citations
Citations of this article
48Readers
Mendeley users who have this article in their library.

This article is free to access.

Abstract

Fashion is replaced every season and collections change rapidly, depending on certain events. There are only a few weeks between the fashion shows and the collections reaching their sale points. As the pattern of demand is seasonal, new items must be produced every season. Additionally, colours and patterns change rapidly, creating a need for producers and consumers to continually remain updated. This research study proposes a forecasting model that enhances the accuracy of fashion trend forecasting in the context of multiple variants of colour clothing. The model aims to maximise the firms’ profits, while minimising forecasting errors and reducing costs that result from excess production or, alternatively, from the loss of potential revenues due to low demand. In the proposed model, the expected profit was notably higher when the customers’ readiness to compromise was low or when only one type of product was in stock.

Cite

CITATION STYLE

APA

Koren, M., & Shnaiderman, M. (2023). Forecasting in the fashion industry: a model for minimising supply-chain costs. International Journal of Fashion Design, Technology and Education, 16(3), 308–318. https://doi.org/10.1080/17543266.2023.2201508

Register to see more suggestions

Mendeley helps you to discover research relevant for your work.

Already have an account?

Save time finding and organizing research with Mendeley

Sign up for free