Lecture Notes in Economics and Mathematical Systems

Retail Analytics

Integrated Forecasting and Inventory Management for Perishable Products in Retailing

Authors: Sachs, Anna-Lena

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  • Presents a data driven approach that integrates demand forecasting and inventory management
  • Presents an optimal inventory policy for a multi-product newsvendor setting with an aggregated service level target
  • Includes several analyses of real data from a large European retail chain
  • Analyzes behavioral biases for real-world decisions
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eBook 59,49 €
price for Spain (gross)
  • ISBN 978-3-319-13305-8
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 72,79 €
price for Spain (gross)
  • ISBN 978-3-319-13304-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

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.

About the authors

Anna-Lena Sachs works as Assistant Professor for Supply Chain Management at the Faculty of Management, Economics and Social Sciences at the University of Cologne. Her research focuses on inventory optimization for perishable products and behavioral operations management. Anna-Lena Sachs studied business administration at the University of Mannheim, Germany and completed her PhD at TUM School of Management.

Table of contents (7 chapters)

  • Introduction

    Sachs, Anna-Lena

    Pages 1-4

    Preview Buy Chapter 30,19 €
  • Literature Review

    Sachs, Anna-Lena

    Pages 5-12

    Preview Buy Chapter 30,19 €
  • Safety Stock Planning Under Causal Demand Forecasting

    Sachs, Anna-Lena

    Pages 13-33

    Preview Buy Chapter 30,19 €
  • The Data-Driven Newsvendor with Censored Demand Observations

    Sachs, Anna-Lena

    Pages 35-56

    Preview Buy Chapter 30,19 €
  • Data-Driven Order Policies with Censored Demand and Substitution in Retailing

    Sachs, Anna-Lena

    Pages 57-78

    Preview Buy Chapter 30,19 €

Buy this book

eBook 59,49 €
price for Spain (gross)
  • ISBN 978-3-319-13305-8
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 72,79 €
price for Spain (gross)
  • ISBN 978-3-319-13304-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Retail Analytics
Book Subtitle
Integrated Forecasting and Inventory Management for Perishable Products in Retailing
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
680
Copyright
2015
Publisher
Springer International Publishing
Copyright Holder
Springer International Publishing Switzerland
eBook ISBN
978-3-319-13305-8
DOI
10.1007/978-3-319-13305-8
Softcover ISBN
978-3-319-13304-1
Series ISSN
0075-8442
Edition Number
1
Number of Pages
XVII, 111
Number of Illustrations
14 b/w illustrations
Topics