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We consider a centralized distribution network with multiple retailers who receive replenishment inventory Yves Saint Laurent Shoes satisfy customer demand of the local markets. The operational flexibility of the network is defined as the opportunity that one retailer's excess inventory Jimmy Choo Blaze Studded Sandals be transferred to satisfy other retailers' unmet customer demand due to stock-outs. A general modeling framework is developed to optimize retailers' order quantities under any possible flexibility level of a stylized two-stage distribution network. We apply the framework to formulate and solve the transshipment problem of a distribution network with Jimmy Choo Dasha golden Metallic Leather Sandal retailers. Six typical flexibility levels are investigated to make the comparison study on the firm's profit performance under three ordering quantity policies: average demand, newsvendor order quantity, and optimal order quantity. We find that the operational flexibility and system optimization Jimmy Choo Dasha Metallic Leather Sandal complements to the firm's performance.