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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
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Details
Subject(s)
Business logistics
—
Management
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Retail trade
—
Management
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Retail trade
—
Forecasting
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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.
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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.
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