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Reebok nfl replica jerseys a case for postponement solution

26/12/2020 Client: saad24vbs Deadline: 7 Days

21 May 2019


B.Sc. – Supply Chain Management (elective)


Reebok NFL Replica Jerseys: A Case for Postponement


e Kai Foerstl Professor of Supply Chain Management & Logistics


German Graduate School of Management and Law (GGS)


mailto:Kai.Foerstl@ggs.de

Kai Foerstl | 2


Planning Question


Reebok NFL Replica Jerseys: A Case for Postponement


How should Reebok plan and manage inventory to manage costs while providing the flexibility required to meet demand for NFL Replica jerseys?


Source: Stephen C. Graves 2005


Kai Foerstl | 3


Guiding Questions for the Reebok Case Analysis


Reebok NFL Replica Jerseys: A Case for Postponement


Consider the case “Reebok NFL Replica Jerseys: A Case for Postponement”. Please address the following questions and use Excel for calculations:


 Please submit the excel-file and


 Submit a three page word-document in which you provide notes on your approach and give clear answers


to each (sub-)question.


Preparation Questions:


1. Given the uncertainty associated with player demand, how should Reebok approach


inventory planning for NFL replica jerseys? Consider the newsvendor model. What is the


cost of underage for a dressed jersey? What is the cost of overage for a dressed jersey?


How might Reebok decide between dressed jerseys and blank jerseys?


2. Using the forecast for the New England Patriots, analyze the cases where (a) dressed


jerseys are used for the star players and blank jerseys for the other players and (b) blank


jerseys are used for all players. For each case: What is the optimal quantity of dressed


jerseys to order for each player? For blank jerseys? What profit do you expect for Reebok?


How much and what type of inventory is expected to be left over at the end of the season?


3. Could Reebok use a “partial postponement” strategy, satisfying demand for each star player


with dressed and with blank shirts? What would be the advantages of such a strategy? How


should Reebok determine the order quantities under such a strategy? (Calculations for such


a strategy are a little tricky, therefore sketch your reasoning in your report)


Kai Foerstl | 4


Outline of Case Discussion


Reebok NFL Replica Jerseys: A Case for Postponement


 Discuss business context, nature of demand, the


sales cycle, key success factors, failure modes


 Discuss supply chain, planning cycle, planning


challenges


 Frame as single-season planning problem; relate to


newsvendor model


 Develop approach and key insights with NE Patriots


example


 Report on findings for NFL


Kai Foerstl | 5


Licensed Apparel Business


Reebok NFL Replica Jerseys: A Case for Postponement


Situation Impact


 Reebok received an NFL


exclusive license in 2000


 Highly seasonal & very uncertain


demand for player jerseys


 Teams are more predictable, but


correlated with success


 Hot-market players and teams


emerge during season


 High margins, fashion item


 Demand driven by availability


 Unsold jerseys can become


instantly obsolete – trades; design


changes


 No direct competition for


product – 100% market share


 Demand is concentrated over


five month period


 If product is not quickly


available to meet demand the


opportunity is lost


 Lost sales cost more than


inventory overstocks, but


come with a high risk of


obsolescence


Kai Foerstl | 6


Nature of Consumer Demand


Reebok NFL Replica Jerseys: A Case for Postponement


 Sales are highest at start of season, August – Sept.


 “Hot market” players and teams emerge over course of season


 Increase at end of season for contending teams & stars: Christmas,


playoffs and Super Bowl


Off season is slower, with demand spikes for big-name player movements


Kai Foerstl | 7


Annual Sales Cycle


Reebok NFL Replica Jerseys: A Case for Postponement


 Retailers order to replenish stores, chase the


demand, and expect 1 – 2 week LT for Hot


Market items


Jan - Feb


May - Aug


March -


April


Sept -


Dec


 Retailers get discount to place pre-season


orders for delivery in May


 Limited ordering by retailers to re-balance


stocks; some short lead time (LT) orders to


respond to player movements


 Retailers order to position stock in their DC’s


and stores in anticipation of season, and


expect 3-4 week delivery LT


Kai Foerstl | 8


Outline of Case Discussion


Reebok NFL Replica Jerseys: A Case for Postponement


 Discuss business context, nature of demand, the


sales cycle, key success factors, failure modes


 Discuss supply chain, planning cycle, planning


challenges


 Frame as single-season planning problem; relate to


newsvendor model


 Develop approach and key insights with NE Patriots


example


 Report on findings for NFL


Kai Foerstl | 9


Supply Chain Overview


Reebok NFL Replica Jerseys: A Case for Postponement


Kai Foerstl | 10


Internal Supply Chain


Reebok NFL Replica Jerseys: A Case for Postponement


Kai Foerstl | 11


Annual Purchasing Cycle


Reebok NFL Replica Jerseys: A Case for Postponement


 Reebok places orders on Contract Manufacturers


(CMs) for April delivery; primarily orders blanks


(~20% of annual buy)


 Reebok orders dressed & blank jerseys, based


on forecasts and inventory targets


 Last purchase phase is most challenging


 Reebok places orders for dressed jerseys based


on retailers’ advance orders & remaining


inventory (~ 15 – 20%)


July-Oct


Jan-Feb


Mar-June


Kai Foerstl | 12


Outline of Case Discussion


Reebok NFL Replica Jerseys: A Case for Postponement


 Discuss business context, nature of demand, the


sales cycle, key success factors, failure modes


 Discuss supply chain, planning cycle, planning


challenges


 Frame as single-season planning problem; relate to


newsvendor model


 Develop approach and key insights with NE Patriots


example


 Report on findings for NFL


Kai Foerstl | 13


Single Season Planning Problem


Reebok NFL Replica Jerseys: A Case for Postponement


 What volume and mix of jerseys to purchase during March to June?


 Planning framework:


 Given forecasts (and advanced orders) for team and players


 Decide inventory targets for dressed and blank jerseys for season


 Place orders guided by these targets


 Revise forecasts (say) each month based on current information; update targets accordingly


 How should we set inventory targets at the start of the


season?


Kai Foerstl | 14


Outline of Case Discussion


Reebok NFL Replica Jerseys: A Case for Postponement


 Discuss business context, nature of demand, the


sales cycle, key success factors, failure modes


 Discuss supply chain, planning cycle, planning


challenges


 Frame as single-season planning problem; relate to


newsvendor model


 Develop approach and key insights with NE Patriots


example


 Report on findings for NFL


Kai Foerstl | 15


2003 Forecast – As of March 1, 2003


Reebok NFL Replica Jerseys: A Case for Postponement


What should inventory target be for dressed


jerseys for each player and for blank jerseys?


Side condition:


CMs have minimum order quantities of 1728 -> Qdi = 0 oder


Qdi = 1,728


Kai Foerstl | 16


Representative numbers for Replica Jerseys


Reebok NFL Replica Jerseys: A Case for Postponement


 Recommended retail price ---- more than $50  Wholesale price = $24.00  Purchase costs undressed = $9.50 costs of dressing at contract manufacturer = + $1.40 -> $10.90 costs for dressing at Reebok = + $2.40 -> $11.90  Clearance price for dressed shirts = $7  Ficticious clearance price (holding costs) for blank shirts = $1.045  CR stock-out (blanks) =


Co/(Cu+Co)=1.045/(12.10+1.045)=0.08


 Order Qblanks (Qb) so that the probability of stocking out blanks is equal to 8%


 Alternatively, this means that the expected service level for blanks will be 92%


Kai Foerstl | 17


Representative numbers for Replica Jerseys


Reebok NFL Replica Jerseys: A Case for Postponement


 Overage dressed: Cod = 10.90 – 7.00 = $3.90  Underage dressed (no blanks): Cudnb = 24.00 – 10.90 = $13.10  Underage dressed (blanks available): Cudba = 11.90 – 10.90 = $1.00


 Cud = E(ba)x$1.00 + E(nb)x$13.10  Cud = (0.92)x$1.00 + (0.08)x$13.10 = $1.96


 CR (dressed) = Cod/(Cu+Cod) = 3.90/(1.96+3.90) = 0.67


 Order Qd (for each Star Player), so that the probability of stocking out dressed shirts is equal to 67%;


 in other words the service level for dressed shirts is 33%.


Kai Foerstl | 18


Outline of Case Discussion


Reebok NFL Replica Jerseys: A Case for Postponement


 Discuss business context, nature of demand, the


sales cycle, key success factors, failure modes


 Discuss supply chain, planning cycle, planning


challenges


 Frame as single-season planning problem; relate to


newsvendor model


 Develop approach and key insights with NE Patriots


example


 Report on findings for NFL


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