Optimal Markdown Pricing and Inventory Allocation for Retail Chains with Inventory Dependent Demand

2017 ◽  
Vol 19 (2) ◽  
pp. 290-304 ◽  
Author(s):  
Stephen A. Smith ◽  
Narendra Agrawal
Keyword(s):  
Inventory Allocation ◽  
Markdown Pricing ◽  
Retail Chains ◽  
Dependent Demand

A Dynamic Programming-Based Heuristic for Markdown Pricing and Inventory Allocation of a Seasonal Product in a Retail Chain

2020 ◽  
Vol 37 (01) ◽  
pp. 1950037
Author(s):  
Vincent C. Li ◽  
Yat-wah Wan ◽  
Chi-Leung Chu ◽  
Yi-Cheng Lin
Keyword(s):  
Dynamic Programming ◽  
Good Accuracy ◽  
Computational Effort ◽  
Distribution Center ◽  
Holding Costs ◽  
Retail Chain ◽  
Retail Outlets ◽  
Inventory Allocation ◽  
Markdown Pricing ◽  
Inventory Holding

The manager is responsible for the operations of a distribution center (DC) and multiple retail outlets selling a seasonal product. Initially, the DC keeps the inventory, which is allocated to the outlets in the season. There are inventory holding costs at the DC and the outlets; variable shipment cost for transferring inventory from the DC; fixed ordering cost and shortage cost at an outlet. Exact demand at each outlet is a decreasing function of price. To maximize the expected profit of the season, the manager needs to determine the markdown prices for retail outlets and quantity of inventory allocated to them. The problem can be modeled as a dynamic program (DP) which takes too heavy computational effort to solve. We develop a DP-based heuristic for solving the problem. The heuristic takes light computational effort and yet has good accuracy. Insights streamlining the markdown operations are deduced from the numerical results.

INVENTORY MODEL OF DETERIORATING ITEMS FOR LINEAR HOLDING COST WITH TIME DEPENDENT DEMAND

2015 ◽  
Vol 4 (1) ◽  
pp. 29-36
Author(s):  
N Mishra ◽  
SP Mishra ◽  
Srichandan Mishra ◽  
J Panda ◽  
UK Misra
Keyword(s):  
Inventory Model ◽  
Deteriorating Items ◽  
Time Dependent ◽  
Holding Cost ◽  
Dependent Demand

AN INVENTORY MODEL FOR TWO STORAGE SYSTEM WITH STOCK DEPENDENT DEMAND

2018 ◽  
Vol 7 (3) ◽  
pp. 42
Author(s):  
KUMAR ATTRI AMIT ◽  
S. R. SINGH ◽  
CHOUDHARY SHWETA ◽  
◽  
◽  
...  
Keyword(s):  
Storage System ◽  
Inventory Model ◽  
Stock Dependent Demand ◽  
Dependent Demand

Joint Control of Component Production and Inventory Allocation in an Assemble-to-order System with Lost Sales

2011 ◽  
Vol 37 (2) ◽  
pp. 234-240
Author(s):  
Chao-Lin YANG ◽  
Hou-Cai SHEN ◽  
Chun-Yan GAO
Keyword(s):  
Order System ◽  
Joint Control ◽  
Lost Sales ◽  
Inventory Allocation ◽  
Component Production

Microplastics in fresh and processed mussels sampled from fish shops and large retail chains in Italy

Food Control ◽  
2021 ◽  
Vol 125 ◽  
pp. 108003
Author(s):  
L. Nalbone ◽  
F. Cincotta ◽  
F. Giarratana ◽  
G. Ziino ◽  
A. Panebianco
Keyword(s):  
Retail Chains

scholarly journals Impact of COVID-19 on the Customer End of Retail Supply Chains: A Big Data Analysis of Consumer Satisfaction

2021 ◽  
Vol 13 (3) ◽  
pp. 1464
Author(s):  
Patrick Brandtner ◽  
Farzaneh Darbanian ◽  
Taha Falatouri ◽  
Chibuzor Udokwu
Keyword(s):  
Data Analysis ◽  
Supply Chains ◽  
Consumer Satisfaction ◽  
Future Research ◽  
Grocery Shopping ◽  
Product Availability ◽  
Analysis Technique ◽  
Retail Chains ◽  
Retail Supply Chains ◽  
The Impact

The COVID-19 pandemic has been one of the biggest disruptive events of recent decades and has had a global effect on society and the economy. The political regulations resulting from COVID-19 also led to significant changes in physical grocery shopping. However, the specific impact of COVID-19 on consumer satisfaction at the customer end of retail supply chains, i.e., the point-of-sale (PoS), has not yet been addressed. By gathering and analyzing consumer satisfaction data (ratings) and sentiments (evaluation comments) available on the open web, the current study evaluates the impact of COVID-19 on consumer satisfaction at the PoS. Focusing on the five biggest retail chains in Austria, the results show that there was a general and significant decline in consumer satisfaction due to the pandemic. The results also show a high impact of political regulations on consumer satisfaction. Furthermore, the text-mining based analysis of evaluation comments indicate that store layout and facilities, as well as product availability and waiting time had a great impact on consumer satisfaction. In total, over 533,000 consumer satisfaction ratings and over 153,000 textual comments have been analyzed, providing the basis for a comprehensive and sound discussion of the impact of COVID-19 on consumer satisfaction and perceptions. Future research could focus on applying the used data analysis technique and the adapted consumer sentiment dimensions in different settings, such as countries other than Austria or smaller retail chains.

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