Retail analytics : integrated forecasting and inventory management for perishable products in retailing / Anna-Lena Sachs.

Author
Sachs, Anna-Lena [Browse]
Format
Book
Language
English
Published/​Created
Cham : Springer, [2015]
Description
xvii, 111 pages : illustrations ; 24 cm.

Availability

Copies in the Library

Location Call Number Status Location Service Notes
Firestone Library - Stacks HD38.5 .S224 2015 Browse related items Request

    Details

    Subject(s)
    Series
    • Lecture notes in economics and mathematical systems ; 680, [More in this series]
    • Lecture Notes in Economics and Mathematical Systems, 0075-8442 ; 680
    Summary note
    This book addresses the challenging task of demand forecasting and inventory management in retailing. It analyzes how information from point-of-sale scanner systems can be used to improve inventory decisions, and develops a data-driven approach that integrates demand forecasting and inventory management for perishable products, while taking unobservable lost sales and substitution into account in out-of-stock situations. Using linear programming, a new inventory function that reflects the causal relationship between demand and external factors such as price and weather is proposed. The book subsequently demonstrates the benefits of this new approach in numerical studies that utilize real data collected at a large European retail chain. Furthermore, the book derives an optimal inventory policy for a multi-product setting in which the decision-maker faces an aggregated service level target, and analyzes whether the decision-maker is subject to behavioral biases based on real data for bakery products.
    Bibliographic references
    Includes bibliographical references (pages 107-111).
    Contents
    • Introduction
    • Literature Review
    • Safety Stock Planning under Causal Demand Forecasting
    • The Data-Driven Newsvendor with Censored Demand Observations
    • Data-Driven Order Policies with Censored Demand and Substitution
    • Empirical Newsvendor Decisions under a Service Contract
    • Conclusions.
    Other format(s)
    Also issued online.
    ISBN
    • 9783319133041
    • 3319133047
    LCCN
    2014958011
    OCLC
    894311718
    Statement on language in description
    Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage. Read more...
    Other views
    Staff view

    Supplementary Information