Abstract
The supply-side or demand-servicing functions of inventory are well-known in the inventory, logistics, and retailing literature.However, this literature has yet to develop the demand-stimulating function of inventory.This paper introduces the concept of psychic stock, which is defined as retail inventory for stimulating demand.Operationally, psychic stock is measured as total inventory on hand minus the sum of cycle stock and safety stock.The consumer behavior theory is drawn upon to offer possible explanations for the impact of psychic stock on sales.
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Larson, P.D., DeMarais, R.A. (2015). Psychic Stock: Retail Inventory for Stimulating Demand. In: Dunlap, B. (eds) Proceedings of the 1990 Academy of Marketing Science (AMS) Annual Conference. Developments in Marketing Science: Proceedings of the Academy of Marketing Science. Springer, Cham. https://doi.org/10.1007/978-3-319-13254-9_89
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DOI: https://doi.org/10.1007/978-3-319-13254-9_89
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