Retail Analytics - Integrated Forecasting and Inventory Management for Perishable Products in Retailing (Paperback, 2015 ed.)

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.

General

Imprint:	Springer International Publishing AG
Country of origin:	Switzerland
Series:	Lecture Notes in Economics and Mathematical Systems, 680
Release date:	December 2014
First published:	2015
Authors:	Anna-Lena Sachs
Dimensions:	235 x 155 x 9mm (L x W x T)
Format:	Paperback
Pages:	111
Edition:	2015 ed.
ISBN-13:	978-3-319-13304-1
Categories:	Books > Business & Economics > Business & management > Management & management techniques > Operational research Books > Business & Economics > Business & management > Management of specific areas > Purchasing & supply management Books > Business & Economics > Business & management > Sales & marketing > General Books > Business & Economics > Industry & industrial studies > Distributive industries > Retail sector Promotions
LSN:	3-319-13304-7
Barcode:	9783319133041

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