Journal ArticleDOI
Estimating Demand Using Space Elastic Demand Model for Retail Assortment Planning
Alok Kumar Singh,Rohit Kapoor +1 more
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A retailer assortment is defined as a mix of products stocked in a retail store as discussed by the authors, and the identification of a proper assortment has become difficult in the current consumer-centric environment.Abstract:
A retailer assortment is defined as a mix of products stocked in a retail store. The identification of proper assortment has become difficult in the current consumer-centric environment. Assortment...read more
References
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Book ChapterDOI
Assortment Planning: Review of Literature and Industry Practice
TL;DR: In this article, the goal of assortment planning is to specify an assortment that maximizes sales or gross margin subject to various constraints, such as a limited budget for purchase of products, limited shelf space for displaying products, and a variety of miscellaneous constraints such as desire to have at least two vendors for each type of product.
Journal ArticleDOI
A Model for Optimizing Retail Space Allocations
Marcel Corstjens,Peter Doyle +1 more
TL;DR: In this article, a case study is used to estimate the parameters and the problem is solved within a geometrical programming framework, and an extensive comparison with alternative procedures suggests this general model leads to significantly different allocation rules and superior profit performance.
Journal ArticleDOI
Estimation of Consumer Demand with Stock-Out Based Substitution: An Application to Vending Machine Products
TL;DR: In this article, a model of customer arrivals and choice between goods that explicitly allows for possible product substitution and lost sales when a customer faces a stock-out is developed in the context of retail vending, an industry that accounts for a sizable part of the retail sales of many consumer products.
Journal ArticleDOI
An inventory-theoretic approach to product assortment and shelf-space allocation
TL;DR: In this article, a greedy heuristic and a genetic algorithm are proposed for the solution to the integrated problem of inventory-level-dependent demand inventory model and product assortment and shelf-space allocation.
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